Cash flow or profit? Brand recognition or longevity?
What determines if a business is successful or not has many elements, that of themselves don't make a business successful.
But successful business tend to exhibit 5 characteristics.
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Lately there's been a fair bit of stress in my life; enough to potentially drag me down and bury me underneath it.
But it's not been of my doing, and this morning listening to a podcast by Barbell Shrugged (who's have thought, huh??) on diet and nutrition, I realised why I've been able to work through it.
More and more businesses are thriving through clever online marketing.
And many businesses push into this strategy without getting the first things right.
Online marketing is generally a cost-effective way of increasing your exposure and expanding your customer reach.
What do you need to get right first?
Building and growing a business doesn't happen overnight - it takes hard work, and a lot of it.
You'll get some things right and some things wrong - but you'll learn a lot from what happens.
There's more than one way to grow a business. But you need to understand your business and its position to get a better idea of where to focus.
But where do you start.
I've just finished reading Killing Fairfax (review here). A very interesting chronicle of the demise of Fairfax; especially so for someone who grew up and got his professional start in print media, with a bit of ink still running in his veins.
And it has some excellent lessons for businesses that face pressures due to change.
A major concern for nearly everyone is their privacy. Be it our personal details on the internet, someone seeing us in the shower, or our medical records, there's certain information we want know only to the select few we choose.
How do we apply this principle in business, and making sure that as business owners we're abiding by the law? And not only the law, but ethically also?