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08 Dec 09 3 Pillars of a Successful Business

Have you ever wondered what makes a business successful? You may come up with many answers to this question but when your answers are subjected to scrutiny, every answer will boil down to three things, in precisely this order.

  • Investor
  • Employee
  • Customers

Investor

Investors are a group of people who invest their hard-earned money to get return from your business. They invest in your business because they trust you, and they see hope in your business. Till the time you are fulfilling their expectations, they will keep their money in your business. Hence, you need to keep them apprised of any development in your business. Keep on giving them good news, and your business will be in good shape.

Employee

Your employee is the second pillar of your business. It is your employees only that can make or break your business. Your business solely depends upon their performance to meet the investors’ expectations, and to deliver on the promises made to your customers. It is thus in your best interest that you keep your employee happy. A happy employee will satisfy the needs of many customers, and will present a favorable picture to investors, whereas, a disgruntled employee is a big deal breaker. They will piss everyone off, including you.

Customers

It is the customers for whom you have erected such a giant structure, raised money, and hired so many highly qualified employees. The end goal of your business is to serve this group of people, and all your energy should be channelized to do so. The moment you step away from your path, your business is doomed. Do not let your vision blurred by the shine and sparkles of advertisements and press coverage, you have not achieved anything if you have not served your customer right.

A parting thought

Which one of the three is more important? Well, this is tricky to answer as none of them is more important than rest of the two. You need to make a balance.

Form an equilateral triangle placing each one of them at each corner of the triangle, and you should sit right in the center, equidistant from each one of them.

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