The Four Pillars That Every Great Business Is Built On

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In business, there are some undeniable truths that need to be accepted if you want to turn your business from a pet project into a fully-fledged corporation. These can be sorted and distilled into four simple concepts: customer satisfaction, business integrity, networking and integration, and product diversity. These are the four major foundations on which every business is built and grown. If you miss one of these, then the structure of your business will collapse at a certain point and it won’t reach the status you dream of.

Let’s gets started with these four pillars and dissect them one by one. In this article, you’ll learn just how important these four concepts are in the success of your business and how you can apply them to your company, no matter if you are just a freelancer, a small to medium business, or a company that is set to grow exponentially within the next couple of months

Customer Satisfaction

The most important person in your business is, without a doubt, the customer. Without clients and people buying your products or ordering your services, you have no hope of succeeding in the world of business. It’s a simple fact that you need to have customers in order to succeed. A satisfied customer is a happy customer, and happy customers will return to your business many times in the future to reuse your services and buy more of your products.

But how do you satisfy customers? There are multiple different strategies, but there are a couple of basics that you need to grasp. First of all, you need to put yourself in the shoes of the consumer. You have to try and understand what it is your customer wants from your product, and the best way to do this isn’t to hire an analytical mind to look over your statistics and it’s not to guess and try and predict trends. The easiest way to understand your customer is to simply speak to them.

Make sure you keep communication channels constantly open and allow your customers to give feedback in a variety of different ways. For example, have a call centre so that your customers can phone in with concerns, use a live web chat service so people can get instant responses from your representatives, and ensure you’re using social media to stay connected with your loyal customers.

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Business Integrity

Your business needs to set a few values and stick with them. Your business can’t go back on its word or else you’ll be met with many angry gazes and disgruntled customers, and you need to be as ethical as possible. You can’t exploit customers, you shouldn’t mistreat your staff, and you need to maintain an air of professionalism in everything you do.

This extends to having audits and safety checks as well. The last thing you want to do is expand to a new location without having done any inspections or tests, only to realize that the ground you built on is unstable and, as a result, collapses your building. This could have been avoided by carrying out a soil test, a necessary safety precaution that needs to be carried out before building on any type of soft ground. This is just an example of one of the many safety checks that your business needs to carry out if they want to remain credible. Other examples include equipment safety checks, scanning for hazards in your workplace and ensuring that the quality of your products is of the highest standard.

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Networking and Integration

Another important component of any business is the ability to integrate yourself into the mainstream and network with people in order to expand your business. One of the most successful companies in the world, Google, has positioned themselves in a must-need situation with everyone in the world. Their search engine is the most used website on the internet and their mobile operating system, Android, is hugely popular and powers roughly 87.5% of all smartphones in the world. In addition, Google also owns YouTube, the most popular video sharing platform in the entire world. With so many services that are accessed on a regular basis, Google’s secret to success is easy to see; they’re essential in the everyday lives of billions around the world.

Networking is also related to integration and it’s important to understand this concept especially if you are a small business or a freelancer. The more people you know, the more chances you have in the future to expand your business. As a freelancer, this means more clients to work with. As a business, this means more future prospects for employees and investors. Whatever type of business you run at the moment, it’s important that you get your name out there and network with as many people as possible through social media, trade shows and online communities.

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Product Diversity

Lastly, let’s talk about product diversity. Specializing in just a single product sounds like a great idea especially if it’s something that is in high demand, but even the biggest companies in the world dive into several different markets. Take Apple for example. Not only do they provide an excellent range of smartphones, but they also make earphones, computers and laptops. The unique thing about Apple’s situation is that all of those devices can be connected. The iPhone has features that work well with their headphones and it has native support for their Mac OS operating system. This results in seamless integration with their other products, further promoting product diversity and innovating the market.

If you really want to make your business a successful one, then you need to dip your hands into several different pies. You have to tackle various markets and try your best to have a share in all of them. If you don’t work on promoting various different products, then your business will stagnate and in the event your market collapses due to unforeseen circumstances, you might find yourself with no customers, no business, and no future to work with.

 

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