Monday , 20 May 2019
4 Success Factors in Turning a Business Around

4 Success Factors in Turning a Business Around

While doing research for The Wealth Choice, I met and interviewed leading African-American entrepreneurs, and I did an interview with Herman Cain to learn from his success.

 

In 1988, Cain was the President of Godfather’s Pizza and was on a mission to set the course for the food-chain which had been suffering from low morale, a blurred corporate image, poor training, and indecisive leadership.

There were 4 key factors I gathered from Cain, that contributed to the turnaround of his company. Here’s a snapshot of these key success factors:

 

1. Believe that you can make a difference

According to Cain, success requires more than positive thinking, it requires possibility thinking. You current thinking will ultimately affect your future economic conditions.

2. Love excellence

Companies often set the tone for excellence,  but as an individual, you must raise the bar too. Doing something “just okay” isn’t enough. You must have top-line thinking and a standard for personal excellence.

3. Develop an obsession with customer service

Customer service is not only the best way to add value to a business, but it’s the key to financial success. Remember, we all earn a living by servicing others and that the real goal of a business is to create and retain a customer.

4. Pursue the dirty jobs

The rich and wealthy often get there by doing the work that no one else wants to do. You could volunteer by things that other people avoid or search for unmet needs and unresolved problems to tough areas. In the words of the writer and poet Maya Angelou, do what you do so well that others cannot ignore you.

 

Remember, these are four key factors that can put you on the path to turning a business around, but there are so many other factors to consider. To be successful involves taking extraordinary risks that the ordinary are unwilling to. It might involve forgoing a steady paycheck and facing the unknown. To be creative, to venture forward, and to succeed, you must be willing to take measures that those around you often won’t do. And to find true happiness, to be fulfilled and at peace, you must learn to embrace the calculated risk and accept complete responsibility for you actions.

 

 

image: biography.com

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