5 Distinctions of a Healthy Business

May be you having some success with your business, but how do I make sure it grows sustainably? Benjamin Franklin’s great advice still applies today: “An ounce of prevention is worth a pound of cure.”

Be better tomorrow than you are today. This is a hard standard to live up to. It takes hard work, and it’s not always even possible.

So let’s look at distinctions of a healthy business.

1. Trajectory
Is your business declining, staying neutral, or growing? If your business is not growing, you’ll obviously need to make some immediate changes.

2. Culture
Never be afraid to hire those who are smarter than you.
You can’t possibly be an expert on all things. So, build a team of people who complement your own skill set. Surround yourself with those who share the passion and vision of where you want to go.

3. Educate yourself, to excel
It’s important to continue educating yourself on your industry. Read books, attend trade shows and seminars and soak up as much as you can. There’s always more to learn.

4. Share what you know.
Write, blog and publish as much content as you can. Share your knowledge with others, and try to educate your customers – rather than just sell them things.

5. Risk mitigation
You need to be seriously thinking about what things could make you have a hiccup in your business. You will have a healthier business if you’re not on the edge in those areas.

 


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