A Very Simple, But Effective Business Philosophy
A Very Simple (But Effective) Business Philosophy
I have a very simple business philosophy, and it has been very successful for me: People, Service, Profit.
People are a company’s most important asset. Take your time as you hire or promote the right person for the job, don’t just fill a position. Once you have selected an employee, take responsibility for his or her success and provide that person with every opportunity to succeed. Make your expectations known, provide adequate training and assistance to aid that individual in the development process. As your employee grows and succeeds, your organization will in turn, grow and succeed.
Service is the lifeblood of any company. In today’s business world too many companies are trying to gain market share by lowering prices. Market share is gained by differentiating your services from those of your competitors, and by offering high value added services. This approach will produce superior financial results and provide outstanding opportunities, wages, and benefits to your employees. A satisfied customer is what keeps you in business.
Profit must be part of every decision and action a company makes. Without profit, a company cannot grow or provide increases to employee wages and benefits. Every company must continually seek new ways to increase revenue, while at the same time looking to reduce costs. Samuel Gompers, summed it up best when he said “The worst crime against working people is a company which fails to operate at a profit.” Don’t ever be afraid to tell your customer that you’re in business to make a profit. Because if you don’t believe that, you won’t be in business very long.
However, finding the right balance between providing high-quality service and making a profit can be a challenging task. As a business owner, I am always looking for ways to improve my services and add value for my customers, while also ensuring that my company remains financially viable. That’s why I am interested in learning more about strategies for increasing revenue and reducing costs without sacrificing the quality of service that my customers expect. I am excited to visit website for more details on these topics and provide actionable advice for growing my business sustainably.
Those three tenets are key to a successful business and have served me well. Additionally, I believe that today’s leaders must be flexible enough to think across boundaries — to not only visualize new possibilities but to also effectively communicate that vision to others. Only those who can open their minds and find ways to tap the energies and insights of others from diverse backgrounds will prosper in today’s environment.
Have the courage to believe in servant leadership. Move out of the limelight and help your people grow, and watch your organization grow. Not everyone can build a great team. I was lucky enough to have been taught that skill and I have valued it well. I owe all my success to the people I have worked with. The challenge of today’s business environment is a lot easier when a great team surrounds you.
Michael Diati, Vice President / General Manager, Speed Global