The Keys To A Company’s Success

“There is only one boss. The customer. And he can fire everybody in the company from the chairman on down simply by spending his money somewhere else.”

— Sam Walton, Founder of Walmart and Sam’s Club

A company that focuses on the fundamentals of reporting, deliverable management, and quality control positions itself for success.

When a company consistently and correctly gathers, assesses, and uses customer feedback, the result is a performance that improves continuously, thus greatly benefitting your customers.

“Quality is more important than quantity. One home run is much better than two doubles.”

— Steve Jobs.

You must take into account and apply all lessons learned from feedback provided by your customers and continually seek out and incorporate Industry and Government best practices, as applicable.

Thus, your company ensures that all work done is repeatable in a manner that allows operational efficiencies and achieves desired performance results. This also creates cost savings or cost avoidance that you can then pass on to your customers.

Customer feedback should be received and acted upon, as necessary, as part of a corrective action process that involves the timely investigation of customer complaints and correction of non-compliance issues, to include identification of a viable solution on how to deal with a quality problem.

When a quality-related question arises while meeting urgent support requirements, then that particular matter should be elevated above all others to be addressed and rectified successfully as soon as possible to avoid any severe disruption in meeting the urgent requirements.

“Let’s take most of the money we would’ve spent on paid advertising and paid marketing and instead of spending it on that invest it in the customer experience/customer service and then let our customers do the marketing for us through word of mouth.”

— Tony Hsieh, CEO of Zappos

From a company’s senior leadership on down to its program/project managers and technical/functional team leaders, everyone should be well-grounded in all fundamental quality control, reporting, and deliverable management procedures, processes, and methodologies. Company personnel should receive training as needed, including instructions on their particular assignments and responsibilities.

The kind of robust implementation described above ensures that there are more than enough qualified people available throughout your company’s ranks whenever needed.

“Quality means doing it right when no one is looking.”

— Henry Ford

“Would you like me to give you a formula for success? It’s quite simple, really: Double your rate of failure. You are thinking of failure as the enemy of success. But it isn’t at all. You can be discouraged by failure or you can learn from it, so go ahead and make mistakes. Make all you can. Because remember that’s where you will find success.”

— Thomas J. Watson

Here are some other key points for achieving success in business, according to Entrepreneur.com:

* The Product Must Satisfy an Immediate Need.

* Offer Good Quality at a Fair Price.

* Be Careful With Your Money.

* Cash Flow Is Essential.

* Guard Your Cash Carefully.

* Maximize Your Marketing.

* Selling Is the Core Skill of a Successful Business.

And Investopedia says these are also keys to business success:

* Get Organized. To achieve success in business you need to be organized.

* Keep Detailed Records. All successful businesses keep detailed records.

* Analyze Your Competition. Competition breeds the best results.

* Understand the Risks and Rewards.

* Be Creative.

* Stay Focused.

* Prepare to Make Sacrifices.

* Provide Great Service.

* Be consistent.

Is your company or organization doing all the right things to achieve success? Using the advice described in this article as a checklist to make sure all the proper actions are being taken, will go a long way toward helping you to succeed.

“People who succeed have momentum. The more they succeed, the more they want to succeed, and the more they find a way to succeed. Similarly, when someone is failing, the tendency is to get on a downward spiral that can even become a self-fulfilling prophecy.”

— Tony Robbins

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Thanks for reading. Copyright © Terry Mansfield. All Rights Reserved.