John Cameron asked: What are the leading indicators of business success?
When you see a business and think that it has a great future, what are you seeing?
I’d like the answers to focus on either entrepreneurs or businss owners.
I realize that they never really separate,but entrepreneurs bring business ideas to life and business owners build & maintain organizations that profitably deliver value to customers. Another way of looking at it is: what causes a business’ success?
Thanks in advance for your time.
ROCK SOLID Business Coach
In my experience, there are 4 elements that can make a business successful, but they appear at different times in different circumstances. (i.e., the entrepreneur might introduce a few of them and the business owner might introduce others).
1. Cash flow: Money needs to be coming in.
2. Profitability: Some of that money needs to stay in the business.
3. Investment: The business needs to invest in itself (i.e., innovation, better service, better processes)
4. Systems: The business needs to systematize or automate as much as possible.