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Author: admin, 14.11.2013. Category: Understanding The Law Of Attraction

By Easy Consulting On November 3, 2014 · Add Comment · In Marketing News Five successful business owner secrets – Getting on the right track! Becoming a successful business isn’t down to chance; it’s down to hard work, blood, sweat, and tears, attitude and of course, those who work for the business. Even the most mundane of tasks must be done, and if they’re left incomplete, there’s a big chance they will grow in importance and create many problems. Your employees are your most important asset to the success of your company, and without them, you would have no business at all. Amongst all the successful business owner secrets out there, this is perhaps one of the most important. A successful business is one that moves with the market, and is always on the lookout for slight shifts in consumer behaviour.
To be successful in the new economy, small businesses owned by minorities, women and non-minorities must build greater scale and capacity.
Today corporations use fewer suppliers, manage the supply-chain costs carefully, and demand of each supplier more production and service capacity.
Small businesses that pursue government contracts are finding the process has become challenging.  This is because many government agencies are now bundling contracts to save money. At some point, entrepreneurs who want continued growth recognize it is impossible if the company continues to operate like a startup. Professionally managed companies have well established financial controls, accounting and budgeting systems, strategic planning practices, human-resource management policies, workforce development procedures and other operational policies, practices and procedures. Reaching Stage III is the big challenge for minority, women and non-minority-owned businesses. In fact, when I examined the revenue of 47,254 small businesses registered with the federal government’s Central Contractor Register (CCR), I found only 14% of the non-minority-owned firms could be classified as stage III firms.


Firms at Stage IV focus on improving their professional management practices and building a corporate culture capable of sustaining large-scale growth. To create a success, it’s important to listen to advice from others and not to think that only you know best.
The most successful business men and women create to-do-lists, prioritise, and complete their lists in order of importance. The most successful entrepreneurs out there know this secret, this is why they treat their employees like family, fairly, encourage their personal and professional growth, celebrate success, encourage ideas, and push the need for teamwork.
Standing still will only get you either run over or overtaken, which means you lose your lead and all that came with it. Many successful businesses use online analytical tools to help them stay ahead of the game. Global competitive pressures and finer consumer intelligence forced corporations to make radical changes to their supply-chain management practices. They also select only those companies that can respond quickly to changing market conditions. Furthermore, large corporations work their way down the food chain and at the moment compete against small businesses for work they would never consider bidding on in the past.
Furthermore, the most-recent census indicates their number; revenue and employment grew faster when compared to non-minority-owned establishments. To do this, I will use the conceptual framework of two of my favorite authors, Eric Flamholtz and Yvonne Randle.
Few businesses, whether minority-owned or nonminority-owned, will achieve this stage of development. However, Stage III must be the primary focus of small businesses, especially those owned by Latino, Asian and particularly black entrepreneurs.


To this aim, let’s look at five important successful business owner secrets, and see if you can adapt them to your own growing empire. Always move forward, revaluate, look for new ideas and innovations at all times, and evolve your business for the future. Call Easy Consulting today on 0421 905 000 to talk about how we can get you a few steps ahead of your competition, and stay there! This means greater capacity is needed even among businesses interested in pursuing government work.
Nevertheless, a large gap in business capacity still remains between minority, and nonminority owned firms. Their book entitled, Growing Pains is a must-read for entrepreneurs whose objective is to grow. Service firms in this stage revenues range from $3.3 to $33 million, while manufacturing firms’ revenues that range from $10 to $100 million. Whether you speak with the CEO from a huge company or the mail man – treat everyone as equal. A business and its owner with a reputation as approachable and fair will always succeed, when compared to one who’s classed as rude and unapproachable.



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