RESOURCES

We’ve had a great response to our insight below from a number of owners of mature businesses.

One, who has now been in business for over 50 years, shared the following (with his permission):

In 2014 we celebrated 50 years and as part of our reflection we considered “how has our business managed to survive and thrive through half a century?”

We resolved that it was probably due to 10 simple reasons, and we think that they are universally applicable:

1. Surround your business with quality people and quality organisations – – whether they be advisors, suppliers, lawyers or bankers – – and then fully utilise their skills and experience
2. Only deal with quality customers… those who demand good results
3. Employ people who show they actually WANT to be on the team by their attitude and their willingness to get involved and to make a difference
4. Work hard, don’t be lazy, and strive to achieve
5. Make sure that you quote for work at the best possible price that you think your customer can afford . . . not the lowest possible cost you think you could manage
6. Try to catch your people doing the right thing… because it is way too easy to just catch them doing the wrong thing
7. Sort out your own backyard before worrying too much about what’s going on next door
8. Always try to exceed your customer’s expectations
9. Keep an eye out for any storm clouds on the horizon
10. Be persistent… and never, ever give up