7 Tips for Developing a Great Business by Wayne Burgan

7 tips from Wayne Burgan on developing a great business. I found Wayne’s 7 tips below very helpful for my business. I especially feel that Tip 5 which is around continuing to learn vital for success. You need to read and read business related books, inspiration books and any other book that keeps the passion well hot!

For myself I have not gone by in the last 12 months without at least 2 business books on the desk ready to be read. I read one – reflect on what I learned then implement what I have learned and move onto the next book.

1. There are four primary functions in a business

And you must provide adequate focus on all four: leadership and direction; marketing and sales; product or service fulfillment; and administration and finance.

2. Delight your customers

Focus on their needs rather than on getting them to accept what you have to offer. Surveys show that most customers change suppliers because of the perception that their current supplier doesn’t care about them. So focus on delighting them.

3. Get good people around you

This applies to mentors and mastermind groups – people with experience from whom you can learn, gather ideas and fast-track your success. It also applies to your advisers and to keep the people you employ as your business grows.

4. Be continually working on your business

It is easy to get so focused on the demands of delivering products and services that we ignore the other elements of building a business. Allocate time to work on things such as your marketing, strategic direction, planning and both personal and business growth.

5. Learn and implement

We received an email from a client recently thanking us because their average contract had increased from $3000 to $30,000, and they had grown from a one-man operation to seven employees as a result of a marketing book we had sent them.

6. Make sure that you have passion in what you do

Trying to work a business that you have no passion for will fail.

7. Remember that your business is a means to an end, not an end in itself

To be successful in business you need to lead a balanced life so you don’t become so absorbed in your business that it becomes your life and everything else falls down around you.

Sourced from the book “Secrets of Small Business Owners Exposed”.