Networking is a magical exchange of value between one individual and another. Over the course of the past week I’ve been fortunate enough to sit down with some amazing professionals in various industries across the greater Chicago area and converse with them about what’s working, what’s not working and what we can do for each other to boost both business and the bottom-line. I’ve come to the realization throughout this experience that really only 4 things matter when it comes to sustainable business growth.
Relationships.
They are the backbone of business and without them a company/organization ceases to exist. Networking is essential to the growth of your net worth. Of the 13 individuals I sat down with each conversation lasting between 2 to 4 hours I recognized how amazing each individual was, how much potential they had, how much value they were adding to the Chicago community and how that was impacting communities around the world. Each of these relationships was formed over a period of time starting from a simple connection on social media, to a phone conversation to later meeting each individual in person. These relationships weather I’ve personally reached out or we had been connected through a mutual friend have been detrimental to both my own growth and the growth of my business. The most successful individuals grow their network so when a problem arises they have immediate access to the solution, allowing it to consume less time, less money and keeping them less stressed. This fundamental key to success sets individuals and organizations apart.
Product.
The product is the most essential element to a successful business. But a product not packaged and positioned properly will always fail no matter how great it is. Learning to sell a product isn’t difficult. Learning to position your product with simplicity leads to greater quantity of sales in a smaller period of time. Regardless of what the product is, what its value in the marketplace is, or how much it costs one thing remains the same it has to appeal to consumers emotions or it won’t sell. When consumers have an emotional attachment to your product or service nothing else matters. What I mean is let’s say for example you want to or go to buy an ADT Security System, it isn’t the system you’re buying it’s the emotion of security and peace of mind. The same is true for all things in life it isn’t what you’re selling but our emotional attachment to that product or service we as consumers are purchasing.
Processes.
Each of us is a salve to convenience. If the phones not charged we leave the house when it is. If our gym bags not packed we won’t go or procrastinate on going to the gym. When we’re in the store we buy what’s convenient not necessarily what’s healthy. If we make the process for both ourselves and our consumers simple, easy, and convenient our ROI automatically and dramatically increases. Processes are front end and back end procedures that companies utilize to maximize their bottom line. For example submitting an article, waiting for feedback from the editorial team, getting approved, waiting for publication, and then promoting on various social media platforms to get more eyes on the piece and more money on the bottom line.
People.
There is no bigger asset to an organization then its people. People are everything. If you don’t take care of your people they won’t take care of you. Employees, contractors, and commissioned sales people are no longer just looking to hold a position within an organization they are looking to lead, help, encourage, and set the tone of the organization’s future. They want to be involved in decision making, have leeway on projects, be directed and guided but not told what to do, while at the same time having flexibility to choose their schedule. Providing these small benefits can make a world of difference.
These 4 elements are present in every successful business and should be present in yours. Learning how to build relationships, position your product, systemize your processes and take care of your people will help you build a solid foundation for long term sustainable growth within your organization.
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