Two Critical Components to Becoming a Thriving Company

Nobody starts a business wondering, "How can I effectively lose my money, family, and friends through this new venture?" You love to waste your time and lose money... yes? ...surely this is a ridiculous question.

All of us build a brand new enterprise thinking we are destined to be the next Microsoft. To become a Microsoft, or even a modestly thriving company for that matter, you must adhere to 2 fundamental principles: 1- Be in business on purpose and 2- Be market driven.

Being in Business on Purpose

This idea of being in business on purpose is definitely extensive. It involves knowing what it is you want out of your business and understanding that everything you do in your business has a purpose. It includes knowing how your business works into your strategy to achieve what you really wish for.

Verbalizing their reason for starting a business is hard for nearly all entrepreneurs. Sometimes it is all about the money and sometimes it's just pure necessity (for the psychologically unemployable). In every circumstance though, the greater motivation is the desire for freedom.

Most business owners get lost in the stress of business and get so mired in the muck that they are no longer able to perceive the walls that are so easy to overcome.

Too often, a small business owner's attachment to their idea is more important than their intended purposes. Affection for "my baby," can become your greatest hang up. If you ever desire to become one of the top income generating giants, you have to be, first and foremost, a market driven business. That is when you are dedicated to responding to the needs of a specific marketplace and not forcing your pet products on an unresponsive market.

Being Market Driven

Altering your existing business to a "market driven" business isn't effortless. You must change the way you think as well as your business strategy. Occasionally the shift entails changing the name of your company, new products, and even a whole new identity. It's all subject to what your target audience demands. Reaching the mark correctly means significantly boosted income. To miss the mark means missed opportunity costs.

Creating a "market driven" strategy for your business starts at the foundation. Good marketing.. effective marketing is the product of your total organization, especially the owner, functioning like a market intelligent... market-driven machine. You must focus on 3 key parts of business: Promotion, Operation, and Product, or your "POP." The view from your POP Dashboard is a clear, secure way to plan and monitor your progress. POP is Essential to the Security and Longevity of Your Business

If you don't plan ahead and budget in all 3 of these areas, your odds of going out of business is much higher. We see many new businesses that place every existing resource into simply creating products.

Conversely, if you deposite all your resources into promotion, and you cannot deliver, you'll not only lose every customer you've drawn to you but your investment will disappear as well. Additionally, if your product is problematic and is not properly situated to your market, it does not matter what type of branding sensation you pull off, your customer base will be very limited and your business life expectancy will be in question. Great products, products that communicate to and meet specific needs and wants in the marketplace, that are delivered efficiently, are in line to be a market phenomenon.

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Rod Alan Richardson has dedicated his life to teaching people to succeed in free enterprise through Leadership Training. If you would like to read the rest of this article or other articles like it visit Business Training Courses.