Have you ever thought of what are the most important elements for a small business to be successful? Here is an infographic conveying the success factors of a small business through the essential ingredients of a classy burger -
1. The Bread (Foundation):
The people within the company lay the basis for the foundation of the company. These are the founders & key employees who make the company work. External paid professionals are a part of this ingredient as well. Connections or your community of marketplace friends also play a vital role.
2. The Tomato (Hardy Garnish):
Every small business needs the creative influence of an entrepreneur plus the steadiness of a manager. Sometimes entrepreneurs are not good managers & sometimes managers are not creative enough. Hence, it’s important that every small business should have a good manager & the entrepreneur should try to sell what he creates quickly.
3. The Veggie Patty (The Main Strategy):
The corridor principle is a concept where an entrepreneurial venture may significantly change focus from the venture's initial concept through a continuous response to the market and the desire to optimize profitability.
4. The Lettuce (Branding):
In today’s day & age, what they call the “Internet Era”, it has become increasingly important to have the modern face of a business i.e. a website & professional email ID. Every small business today needs to have a website with content related to their products & services along with a professional email ID which contains the name of the company.
5. The Cheese (The Savoury):
Once the website is in place, the next important step is to adopt modern marketing channels such as digital marketing, social media & SEO, once your Website is in place.
6. The Sauce (The Final Touch):
The final touch which adds taste to the dish is to integrate the brand voice/mission statement in every element.
Once you have all the above ingredients in our small business you are about to eat the most tasty dish ever in future, once success kicks in!