I have worked with many small businesses and their entrepreneurs in creating and building their companies. In that process, I have identified many factors that will help in their intentions to build something sustainable and successful.
There are many things that must be done, but generally to simplify the process I usually use three important building blocks on which we work with entrepreneurs.
Before I start with a brief description of them, I would like to mention that these three building blocks are mutually depended with each other which means that they can be implemented as a whole if you want to build sustainable small business.
Their existence here is to help small business to become sustainable businesses.
Let’s look at each of them briefly.
Customers. First thing as a first. Sustainable small business will always need customers. That means your small business will need to always work to create new customers, but also to generate additional revenue form repeated customers.
It is not easy task, and this part of your sustainable business will be related in large part on next two building blocks of your sustainable small business. For example, to create new customers and the need for repeated purchases you will need to have excellent products and services but also the systems in place that will support this work.
Products. The next important building block of your sustainable small business is your products or services that will be offered to your customers. Someone will ask why this building block is not the first one? It’s because I think that you will need first to work on creating customers and then on building your products or services.
The main idea behind this is that sustainable small business is customers centric company, not product centric. If you create your ideal customers, you can easily find what they want and how you can deliver the value to them.
Many entrepreneurs make a mistake when they start with a traditional way of doing business in which they work on creating products and services and then start working to find customers and try to sold their products and services.
Systems. The third building block is also important because previous two building blocks can’t succeed in building sustainable business without this one. In my experience many entrepreneurs succeed in building one of the two or all two earlier described building blocks, but they don’t succeed in building systems. In such a way, they can’t build long term sustainable business.
Succeeding in first two building blocks will give you short-term success, but they will never guarantee you that your small business will be sustainable one.
The main goal of this third block is to support creating and maintaining customers and in the same time building value to them.
Question: How you approach when you want to build value for your customers? You can leave a comment by clicking here.