The secret behind a successful business

What is the ultimate aim of a business? Some people say that the ultimate aim is to make profit, while others say the ultimate aim is to gain more market. What do you think?

 

There are two types of small businesses, in my opinion:

1. Revenues/Profit oriented to maximize revenues and profits. These companies work hard to grow revenues and profits.

2. Lifestyle oriented to enable and optimize the owner's preferred lifestyle. These companies do just enough to achieve lifestyle objectives.

When the company gets larger and goes public or is acquired by a public company, the goals pretty much become maximizing value to the shareholders on a quarterly basis.

 

Everything JrBiz said.

The perfect business (IMHO) is doing something you really love doing and getting paid well for it. Being happy at what you're doing is a type of success that you can't buy.

 

Profit and how it changes your lifestyle and the most important is how it is bettering other people's lives.

 

Profits are definitely important and vital to a business's survival, but that's not all.

A business should be able to satisfy the customers and provide them with solutions or targeted products.

A mixture of those two strategies are the way to grow a successful business, whether it be on the Internet or on the street.

Hope that helps!


- Samuel

 

Thanks for your answer webtolight.

 

Hey, anytime

 

In the capitalist system, two extreme types of corporate bodies can be distinguished. On the one hand, companies can be seen as profit-maximizing businesses, whose purpose is to create shareholder value. On the other, non-profit organizations exist to fulfill social objectives.

In the social enterprise a social business is designed and operated just like a ‘regular’ business enterprise, with products, services, customers, markets, expenses and revenues. It is a no-loss, no-dividend, self-sustaining company that sells goods or services and repays investments to its owners, but whose primary purpose is to serve society and improve thelot of the poor.

I suggest you read an article called: [Building Social Business Models: Lessons from the Grameen Experience]

 

For me personally, the ideal business has to have involve two things;

1) Something that I am passionate about (or at least very interested in).
2) Solve a real life problem that others are experiencing.

After working in the corporate world for far too long, I came to the realization that I had no passion for what I was doing. In fact, I can say with authority that I despised it. I came across a quote that pretty much got me on the right path.

“Do what you love or don't do it.”

Don't recall the author or who the quote is attributed to but it hit home. Within 6 months I was working on my business full-time and 3 years later, I haven't looked back.

If you offer a solution to a problem in the marketplace that works well, people will pay for it.

Hope this helps and best of luck!

 

My business goal is not only gain profit also build relation with customers and take the profession fashionlitely.

 

Well said Suckerpunch. Thanks for your valuable information. Yes, I agree with you. Doing what you love is always a plus.

 

A while ago, when my daughter was about to start at a highly competitive Pharmacy phd. program, we were standing by the car while waiting for others to join us after a soccer event. I asked her how she was feeling and she said that she was worried that she could not cut it at this extremely difficlut school and that I would not be proud of her if she flunked out. Here is what I told her:

All that I want to be able to say to anyone who asks about her is this: "She is happy and doing _______." As long as that statement is true, I will be proud of what she accomplished.

I then went on to explain that I did not care what word or words she put into that blank space. Of course, "being totally happy" may be impossible as compromises likely will have to be made along the way (e.g., you may have to give up the low-paying job that you love to be able to buy your dream house or afford children or travel or whatever else you desire.)

 

Many great points here, enjoyed reading through!

Personally its about longevity for me - building something strong that will sustain over time. This involves many aspects, including profit, management and even happiness, because if the main owner is the one doing all the work but isn't happy doing it, then that's barely a sustainable business. Happiness is very important, but also I think once the business gets to a certain size it's less about happiness and more about results/targets.

 

It's hard to say if there's ONLY one secret.

Think of all the different people throughout history.

Britney Spears. Bill Gates. Bobby Fischer. Babe Ruth. (All start with b's).

Is it because all of their names start with B?

Because they all worked really hard?

Or is it something that's 100% totally unique to each individual?

I would say that it's 100% unique to each individual.

So, find what you do best. And then run with it.

Just my $.02

 

Geez, wish my parents had named me Brenda or Barbara, or something.

 

Your question have its answer itself dear..
More market = More profit

Take it in some simple and major parts...

• Customer relations & Support availability
• product quality & Easy descriptions
• Marketing.
• And ofcourse Honesty & plan.....

 

IMO if you have a business that solves a problem then it will make profit, so to me the aim is to solve a problem

 

There are three things you need to consider when starting a successful online business: your experience, your budget and your connections.

 

Thanks for your reply. I've one question. What kind of connections? You mean connection with buyers or something like that?

 

Yes, connections with other webmasters working in this field, sellers, buyers, designers, programmers, seo specialists, hosting providers etc