Five Foundations to a successful business

Last Updated: June 20, 2018 in Business Advice
Five Foundations to a successful business
 
No matter what the size or age of your business my “Five Foundations” can and should be applied.
These are the five elements I believe it takes to make every business successful. 
 
1. Create a Mission Statement
People rarely create a Mission Statement unless they are creating a business plan for financial investors. Your mission statement should be a short paragraph, a line or three, no more. It is clearly explain the mission of your business.This should be use throughout your marketing and online presence. Using consistent messaging, is reassuring and installs confidence in you, your products and services, it also very quickly connects you with perfect potential clients.
An example of The Dainty Desk Mission Statement….
The Dainty Desk is an exceptional personal and professional virtual assistant service, supporting professionals across the globe. 
 
2. Values and Behaviours
Your Values and Behaviours should be authentic, they should roll off your tongue and be every essence of what you truly believe in. Values and behaviours attracted the correct audience, clients and suppliers.
Start by writing a list of words that describe your business and join them up to create values and behaviours. If a charity is close to your heart, this is the place to include it.
As an example, here are my Values and Behavious for The Dainty Desk :
“Our values are not just words, they are behaviours that we live by, cherish and respect. 
They underpin everything we do and are echoed in every project we accept. 
We challenge convention, ourselves and each other. 
We value the power of time. More quality time with loved ones is priceless.
We embrace transparency and are empowered by happiness.
We are fully committed to making things happen.”
 
3. Services and Products
This may sound completely obvious but this is the element most businesses get wrong.
Are your products or/and services clear to your potential customers?
Do you have enough? Do you have too many? Do your products evolve as your business has?
It can be incredibly challenging to look at your business with fresh eyes, if you are unsure if your business have clear commercially viable products/services please do not hesitate to get in touch.  
4. Dream target / Communication List
Your little black book is super powerful, uterlise it. Write a list (spreadsheet is ideal) of the companies and customers you would love to work with, plus your friends, family and associates that should know your business story. 
Always Connect, Look at collaborations (be careful) Always expand your network and support other peoples visions, its the right thing to do and the universes has a beautiful way of returning the favour.
 
5. Be present in the right places 
We have evolved so much professionally and have the best tools ever available to us. When I think about entrepreneurs launching businesses 30 years ago, I want to salute them. I think it’s incredible that they were able to build effective businesses, retain clients and source suppliers, when their forms of communication were fax and phone, and research was only available via the library.
We are so fortunate today to have the internet and social media as business tools, allowing our businesses and us as professionals to develop at an extraordinary speed. However, there is a downside to this.  In today’s world, marketing a business is a job in its own right. Between managing your social media presence, updating your website, and selling across multiple platforms, there is barely time to do your day job. I hear this from my clients every day. My top tip for cutting this work load and making todays tool more effective, is to choose wisely.You need to address which platforms are right for your business. 
 
I advise that you start with three platforms and do them well. If and when you master these, you can always add more. Which three depends on your business type, there is no hard and fast rule, each business is unique. However here is some advice regarding choosing the right platform…
You have a mainstream creative business …
Etsy, Instagram, Facebook
You have a luxury creative business …
Website, Instagram & Pinterest 
You have a service business …
Facebook/Twitter, Website, LinkedIn
You have a product business …
Website, Facebook / Instagram (if visually appealing) & LinkedIn
The joy of multiple platforms is that the primary information is the same, if you have your business messaging right (The above 1-3) it should appear the same (if not tweaked ever so slightly) across all platforms for continuous and consistent message.  99% of businesses should have a website presence, there are very few exceptions. 
If your business isn’t working, it will be because you are missing one or more elements or have not addressed these elements correctly for your sector, audience and clients.
The truth is if you get the foundations right you will have more time to expand and evolve.
Love Lucy x
Lucy is one of our lovely ambassadors and founded her successful business The Dainty Desk just over a year ago x