Why Are Some Businesses More Successful Than Others?
What is it that makes sane, intelligent people give up well paying, secure jobs to risk their financial security to start, buy, run their own business when all the statistics warn the likelihood of success is slim?
It’s captivating don’t you think?
I’m the 6th of 9 children, most of whom are, or have been, self-employed at one time or another. Some have been extremely successful, far outstripping what they could possibly have achieved in the work force, most are probably no better or worse off and one or two of my siblings are possibly worse off if the only measurement of success is financial.
Likewise, in my experience as a Shopping Centre Manager there are incongruent results. Looking at a group of Small Business owners in the same shopping centre food court for example, the turnover of food outlets side by side can differ by as much as 500% or 600%, and yet the ‘food offering’ itself may be similar.
Why is this so?
What is it that makes one business a raving success but the one right next door not so much? Why is it that people are willing to line up and wait to be served at one food outlet when the retailer right next door with a perfectly good food offering has staff standing around waiting for customers?
What are the core consistencies that are common in all successful Small Business owners?
My observations in both family and professional experience is there are 3 other P’s that are essential ingredients which make all the difference:
- People passion
- Persuasive personality
- Prolonged persistence
1. People passion
Small Business owners who really value, appreciate, enjoy and respect all of their customers are the ones who become the raving successes. Authenticity is the latest buzz word being used to describe the difference between good and awesome.
Your customers can tell when you are genuinely interested in them and when you are disinterested and impatient.
2. Persuasive personality
You’ve heard the saying ‘You could cut the air with a knife’ and have probably experienced the tension in a room the minute you walk in, even before anyone says a word.
You truly can feel the difference, sense the positive vibes emanating from a business where team members are always ‘up’, always on a high and always sending positive energy out into the ether.
Be positive and persuasive with your customers and your team. It’s contagious.
3. Prolonged persistence
February and Tuesdays are almost always quiet in retail (okay, so there are some exceptions). There’s not very much you can do to change this. You are better off ‘shooting when the ducks are flying’ as one of my old bosses used to say and focus your attention on increasing your percentage of sales during peak trading times than wasting energy trying to increase sales in February when rates are due, parents are recovering from the cost of Christmas and back to school costs.
Expect it to take between 2 & 5 years for your business to be making the profits you are looking for.
Small Business owners who expect to make a profit every trading day and from the first day they open their doors will either run out of cash or run out of inspiration before they hit the jackpot.
Those who work to get the best out of every day and recognise that it’s the nett profit over a period that counts are the ones that will have the staying power and persistence to really stand out in the crowd and achieve outstanding results.
Hang in there, be realistic about the true potential, but don’t give up too soon.
In summary, attitude not aptitude is the biggest key to success. The smartest, richest, most attractive person isn’t always the one who has exponential success in business. Product, price, place and promotion are all great P’s to have.
Passion for your people, persuasive personality and prolonged persistence are the 3 P’s that will put you in the winner’s circle.
“The opinions expressed by Smallville Contributors are their own, not those of www.smallville.com.au"
SHARE THIS ARTICLE WITH LIKE MINDED SMALL BUSINESS PEOPLE