5 Insider tips for a successful business

March 4, 2015 |  by  |  Business, Linkedin Blog

Business insider top tips for a successful business outlines building a successful business plan with the help of successful business management consultants.

Business hindsight is often mentioned when discussing business war stories, a savvy business consultant knows foresight is key to business development strategies for running a profitable business. Every business enterprise strives to excel, grow and succeed in today’s complex marketplace. Growth for a business meant increasing its sales and profitability which has been the traditional approach to business management.

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However many businesses have realized the hard fact that growing a business is more challenging in today’s demanding marketplace. While the traditional approach to business growth focussed more on marketing and the product mix, many businesses and business advisors today insist on the need to find out new and innovative ways of doing business, for consistent growth.

Customers today demand value for every pound spent on a product and service, and hence every business needs to understand the value chain thoroughly and ensure there are no wasteful and non-value adding activities within the value chain.

Implementing lean business methods and processes is the key to ensure that all wasteful activities, processes and expenses are eliminated. Every process that a product or a service goes through, must only add value and if any business process has tendency to be wasteful, then it should be modified to remove all wasteful process components.

Business consulting firms and business consultants suggest tools like value stream mapping which are useful in analysing time spent in various business processes and can be deployed to improve lead times in a process.

Next is the lean inventory and is also suggested by many consultancy firms. It is a well-known fact that no customer pays for the inventory carrying cost incurred by a business and hence it is important to understand that the concepts like Just in Time and Ship to Stock are implemented to ensure inventories are rationalized.

Other tips which a business organization needs to follow include getting organized, being innovative and being passionate about serving the customer.

In my capacity as the International Business Guru I advise businesses on business development strategies and often suggest they follow lean business processes to achieve business efficiencies.

#1 Winning Business Ideas

Winning business ideas are all fine and dandy on paper, however very few of them ever get to the business development stage with many of the best known business consultancy firms. Every professional business consultant will advise you that the very premise of profitable business ideas is rooted in turning those business ideas into winning business strategies which must be incorporated into a robust business plan which lends itself to successful business management. Some of the most recent winning business ideas have converted into very successful online businesses.

#2 Successful Business Plan

Many a business consultant uses the phrase, ‘fail to plan-plan to fail.’ In the case of designing a winning business plan this phrase has never been more relevant.

It doesn’t count for squat if you have the most successful business ideas if you don’t have the business development skills to identify the winning business strategies required to ensure successful business management of those ideas. Most business consultancy firms understand the need for a successful business plan and this is even more relevant when directing a thriving online businesses.
#3 Successful Business Strategies

Identifying and implementing successful business strategies into your winning business plan is crucial to the long term sustainability of your business development.

Most business consultancy firms will commence work on your strategic growth plan after their business consultant has identified your successful business ideas. By definition, your business strategies must pass the successful business management test. It is worth noting that there are different business strategies required for conventional businesses and successful online businesses.

#4 Successful Online Businesses

Just about every individual business consultant and probably most business consultancy firms have had exposure to successful online businesses. Every continuous professional development training programme I have ever attended highlights the following four foundations for ensuring exponential business development growth which determines every successful online businesses.

1: Innovative business ideas.

2: Robust business plan.

3: Successful business strategies.

4: Successful business management.

#5 Successful Business Management

Very few people who identify potential lucrative business ideas have the business development skills or experience to see these ideas through to fruition. Engaging the services of a business consultant or retaining the services of one or more of the proven successful business management business consultancy firms will give you an edge. Successful business management is a minefield which only proven experts should attempt to negotiate. Failing to produce a workable successful business plan which incorporates successful business strategies is one of the main reasons so many new business start-ups fail.

In my personal experience the successful business management skills required to ensure a successful online businesses are somewhat different skills required for off-line businesses.

All of the above inside top tips for a successful business are strategies, tactics and plans utilised by professional business consultants and business consultancy firms. If you incorporate them into your business planning you will increase your chances of business success.

Dr. Mark D. Yates

Dr. Mark D. Yates is a global #1 LinkedIn consultancy business growth specialist, LinkedIn speaker, LinkedIn Sign & LinkedIn training instructor & CEO of Link Business Marketing Ltd. If you need to hire a LinkedIn expert to help you gain profitable business growth, contact him. Tel: UK 0203 390 2013 Email: drmarkdyates@aol.com, connect with him on LinkedIn & Twitter You can view & download his dynamic independent LinkedIn training program at: linkedinswat.co.uk.

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