To succeed have to look at what market will pay for that is profitable.
However this can lead to conflict that some entrepreneurs cannot cope with. They will not make decisions that are unpopular with staff, or even just things that they do not want to do themselves.
When a customer goes to buy something they do not care about how the owner treats friends, family, does what he or she enjoys etc.
So the owner has to make whatever decisions means will meet the market wants.
There are many things which can prevent this:
1, to succeed need to hire the best people, but instead of the owner routines and hers people they are friendly with and family.
If a business does have people who have friends and family but are also not the best people possible. The owner hould help them to succeed, but make it clear the targets they have to meet or they will have to go to another job or another company.
2, Doing what is prestigious and brings respect. Again this is something the owner made like, but the market does not care and is not necessarily wha brings the company money.
This desire can also cause extravagant, wasteful spending and unnecessary spending.
3, Doing what is fun. Again this may not be something that makes money.
4, The lazy options
5, Not doing hard things: Such as firing staff that should be fired because not want conflict.
6, Taking a side of the staff when they are acting in their own self interest which is not that of the customers’. The customer is the buyer and without them there are no jobs, so have to take the customer’s side.
For example staff may want the company to charge the customers more, so they can be paid more, or can look after less customers as each customer pays more. However this will lead to less customers and less satisfied customers.
However by serving the customers with what they want, there are more customers and some odd jobs are created
Of course owner must be as nice kind and gentle with people as possible, but what the market wants for products and services, how it delivers and creates that, is a fundamental truth that cannot be avoided.
Just like with football teams there can only be one winner. Those are the top of the league have most of the market and the rest get very little, it is the same for companies. To achieve this a company has to be the best to do that have the best people.
7. Not just doing what you did before. This may seem safe, but it doesn’t work and isn’t fulfilling.
Of course learn from the past, but listen to your ideas and see how things really are.
Lifetime Wisdom 