Business principles you must follow after starting your Business: Part 1
In my earlier articles I had discussed the ingredients needed for starting your first planned business successfully, which are shown in Figure 1.
Figure 1: Ingredients for starting your first business successfully
If an entrepreneur starts a new business with the proper ingredients, he will achieve short-term business success as show in Figure 2 - otherwise he will experience start-up business failure.
Figure 2: Proper Ingredients
Once an entrepreneur has achieved short-term business success, he should then look to ensure the long-term success of his business.
To do this he should follow the correct business principles as shown below in Figure 3.
Figure 3: Correct Business Principles
The main business principles are related to the following areas, shown in Figure 4:
- Organization – how to organize your business
- Management – how to manage your business
- Growth – how to grow your business
Figure 4: Business Principles
In the upcoming articles I will discuss the business principles related to Organization, Management and Growth.
(To be continued)
The author is the founder and CEO of Results Consulting Group. He is a recognized thought leader on helping entrepreneurs build and implement significant and lasting competitive edges in India and the GCC. The views expressed are personal.
Email: [email protected],website: www.we-deliver-results.com