4 P’s in Business Success

Years of observation and some business involvement in the past have made me conclude that there are 4 P’s one needs to be constantly aware of and focused on when one is engaged in business.

Passion. The most successful businesses I have known of not only in terms of profit but also in terms of the quality of their products and services, are those born out of passion. Their business owners simply love what they do or make. It is something they can do or be focused on regardless of time. They are willing to do everything to produce their product or provide their service. And from an outsider’s perspective, these people are identified with it. It’s almost like they are synonymous with it even. Think Steve Jobs. Think Bill Gates.

Profit. Simply put, a business may be born out of passion but for it to flourish and bring in returns, one needs to think about profit. I think the challenge here is how do you maximize your resources to bring in maximum profit. This means one must always be aware of the latest trends as well as needs of one’s market or target customers/clients. One must also know about the tools and technology that can be used to understand the market better as well as how to improve profit. For instance, one may not know or understand embedded analytics but as it can be a tool to further improve one’s knowledge about one’s clients or customers then a business owner must learn about it.

People. A business owner may be the most passionate about his/her product or service and may have the best strategy and tools to gain profit for it but if he/she does not have the right people to work with, create with, I think the business will not succeed or last. The business owner needs THE best people for his/her business. As people or personnel are key in furthering and making a business last, it only makes sense that the business owner knows how to take care of them. A successful businessman once told me that happy and satisfied personnel is equal to good profit. If one does not take care of one’s personnel, it would lead to bad business and less profit (or even none!) eventually.

Perseverance. Not all days mean good business. There will be challenges at times, but success means staying on — choosing to stay on. The person behind the business always understands that not all days will be sunny in one’s business corner, but that the sunny days will eventually be around.

The God Who Sees You and Me

Something to inspire you and me today 🙂

Thereafter, Hagar used another name to refer to the Lord , who had spoken to her. She said, “You are the God who sees me.” She also said, “Have I truly seen the One who sees me?” So that well was named Beer-lahai-roi (which means “well of the Living One who sees me”). It can still be found between Kadesh and Bered. Genesis 16:13-14 New Living Translation

Hagar asked herself, “Have I really seen God and lived to tell about it?” So she called the Lord , who had spoken to her, “A God Who Sees.” That is why people call the well between Kadesh and Bered “The Well of the Living One Who Sees Me.” Genesis 16:13-14 Good News Translation

Pushing Forward with Online Business

The internet has changed the way people do business.

I’ve known friends who have started online businesses which includes selling items online to selling their services online (like providing their writing, web design or marketing services).

It seems to me that, thanks to the internet, starting a business has never been easier as it has been compared to, say, 5 to 10 years ago.

Now while it appears that the internet has made starting a business easier, it seems to me that people have also somehow forgotten that just like other “offline” businesses they also need to consider the importance of the following:

Creativity and originality. People who start online businesses can sometimes do it just because it’s the trend. A couple of their friends are selling stuff online and seeing that they profit from it they also decide to start their own. They fail to consider that creativity and originality matters. What sets your business apart from the others? What need is it meeting? These are questions that need to be asked.

Knowledge of the market. To go into business is to know your market. Who is buying the goods? What is the demographics of the clients or customers? What makes them choose your products? These are but just a few of the questions that one who runs an online business needs to think about.

 

Quality of products or services. My stand is if one can not provide quality services or products, one should not be in business in the first place. Okay. I can be gracious and say that they can be in business, but they should work on improving their products and services. If this is no longer possible for them then they should really consider closing shop.

Manage the business and its resources well. One can have the best products but when management is not done well, I think the business will eventually fail. The business resources would include the data that a business or a company has. As the business grows and expands, one must learn how to manage available data and use it for the best of the business or company. Check out this page to know more about data management.

Passion and profit must go together. I think that passion is key in growing a business, but one needs to be able to gain good profit from it to sustain it. And if it’s only profit that is operative word for the business then I think it will not last.

By all means, let’s be entrepreneurial and use the internet to do so but let’s not forget to do it well. No, not just well but let’s do our best.

Music to Set the Day

Music helps set the mood of the day.

I learned this as a child. I learned it from my late mother’s habit of playing music on the stereo very early in the morning or as soon as she wakes up.

Somehow the songs ushered in calmness, peace, hope.

Mother would play worship songs for hours until she leaves for the office. During weekends, the songs would continue to fill the air until breakfast time.

I borrowed that habit of hers when I left home for university. Her habit has especially helped me during my lonely and challenging times when I lived by myself in Cebu for several years. This was also true during my 3 years of living in Thailand, far away from family and from any close friend.

I can still remember today how lonely some days could be while living in a foreign land. You do not just miss family and friends but there are days when you miss the sight, the sound and even the scent of your own country.

Ah, but I survived that 🙂

Today, my mother’s habit is still a blessing to me. And my husband also shares that habit. I wake up in the morning and I hear worship songs fill the air of our home.

I am grateful for my late mother’s and my husband’s habit. And I am truly thankful for the gift of music and to the Ultimate Creator of all music.