Building a Successful Business
Starting a company and building or growing a company entails many things, but it all starts and ends with the person in charge, the CEO, the owner, the manager. If this individual is not on top of his game 100 percent of the time then the chances for success diminish rapidly. What I mean by “on top of their game” is that this person is ultimately the driving force behind everything, if at any point they are not directly involved in certain aspects of the daily business dealings, or they are not focusing on what is really important, trouble and hard times are sure to follow. Again there are many things that impact the success of any business and these things vary from business to business and industry to industry but there are several universal criteria for a successful business venture.
Know what you’re getting into. Know the industry you are operating within. Gain experience, do research and consult with experts. There is rarely a company that becomes successful where the owner or operator has no experience in the relevant field. You cannot just one day wake up and say, “I’m going to start my own executive car service” and have no experience in the executive car service or limousine service industry. Experience or at least a fluid working knowledge of how an industry works is vital for success.
Be as hands on as possible but know your limits, involve yourself in the tasks or endeavors that require your attention but do not micromanage. Part of any great success is the ability to recognize strengths and weaknesses in others. Place the right people in the important positions, those that are self-motivated or natural leaders, individuals that have a certain degree of emotional intelligence or charisma so that their subordinates will be happy to follow or want to please. Do not try to do it all yourself, your not superman and what will happen is important things will start to suffer.
Be properly funded. It is a true rarity when someone makes something from nothing (and even those that say they do are usually embellishing or leaving something out). It takes money to make money, that’s reality. Make sure that before engaging in any endeavor that you have enough capital to float you thru at least 6 months worth of expenses. This is necessary for many reasons but chief amongst them is that no one can predict the unforeseen variables like acts of god or just plain old bad luck.
Be positive. Be positive and act as if. Keep a good energy around you; you don’t want to be that boss or that owner that is all about the doom and gloom (and I’m sure if you give it a bit of thought you will not recall having met many business owners who were successful by constantly being negative). That’s not to say be unrealistic or have your head in the clouds, nor is it an excuse to avoid addressing various negativisms, but it is important to make a conscious effort to focus on the positive.
These are just some friendly tips and hopefully some helpful advice. This is by no means a comprehensive guide to success, I would never presume to be an expert on such. Neither is this meant as a universal game plan designed to span all industries and business. Really I am attempting to identify potential problems that plague many new business owners, as well as help current CEO’s recognize ongoing issues that they themselves may have some difficulty seeing. Sometimes it’s a lot easier to speculate from the exterior then to accurately identify caveats from within.
All Star Limousine is a Long Island, New York based company with an extensive global reach; we provide expert Wedding, Special Event and Executive Travel services throughout the Tri-State area and the world. We have over 30 years of experience in the travel industry; our attention to detail, 2013 top-of-the-line vehicles and professional trained Chauffeurs set us apart from the rest!
by Jarrad Kulick