Leadership Management

How Your Business Can Learn from People

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Success in business is never based on just one thing, no matter what some people will try to tell you. Yes, having a good product or service is important, but some businesses with great products have never quite made the grade (and some inferior products have). Equally, delivering excellent customer services should be a priority, but that alone will not guarantee you a place in the pantheon of business greats. All the while, businesses that provide shaky service at best can still achieve huge profits. There is no magic formula for success.

With that said, you can give yourself a better chance of hitting the heights if you see your business as an individual person. Like the majority of successful businesses, people are multi-faceted. You can be a generous person, be naturally funny, or particularly charismatic, and even if one of these characteristics is what sticks in people’s minds, you’re more than just that one thing. Your business, too, needs to be more than one thing – and it can be useful to think of your business’s “personality” traits when looking to make it grow.

Keep Adding Strings to Your Business Bow

Are you the same person now that you were twenty years ago? Almost certainly not. What about ten years? Still probably not. Even in the last five years, you have learned things and changed things about yourself, and that’s good. We all develop, and we hopefully change for the better. The same should be true of your business; allowing its institutional memory to be strengthened by learning experiences will make it a stronger business in the future. This stops it becoming outdated and keeps life interesting.

Value the Friends Who Helped You Get Here

A business will inevitably be strengthened by having a sense of loyalty to the people who have helped it climb the ladder. While it’s useful to keep bringing in new customers, there is a lot to be said for the approach advocated by the likes of Deepak Agarwal, which focuses on keeping your existing customers. Loyal clients will help you grow by word of mouth, and before long you can have the best of both worlds. Like any person, remembering those who were always there will help a business grow.

When You’ve Reached Success, Remember to Give Back

Successful businesses can have a demonstrable effect in the area where they arise. It’s become clear over the years that a thriving business can boost the fortunes of its neighbors simply by existing in a certain area, but more important than that is the opportunity for a business to put back into the community that helped it grow. Whether by charitable donations, offering training programs, or raising awareness, a successful business – just like a successful individual – can boost others; as the old saying goes, a rising tide lifts all boats. Not only is this the right thing to do, it is also beneficial publicity for your business.

There are certainly differences between a person and a business; that should hopefully go without saying. But the above are just three ways in which a business can learn from interpersonal relationships to become stronger and more effective.

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