What do you need to build a flourishing business venture?

In the process of time and in the course of human endeavor, some many business ideas have been founded, pushed and established.

 

While some of this businesses were successful, others went down the drain and nothing could be traced to such idea of profiting that started well but end up being a failure.

 

It was while the author of this piece keep mediating on the main essentials that makes one business successful that the author decided to push this piece across looking deeply into what exactly is the major factor that makes a successful business venture.

 

Ideas of building a business venture or conglomerate is good and starting it successfully is an addition that should be referenced but it is always continuity that matters in making a meaningful business idea.

 

When a business venture or conglomerate keeps flourishing, it has a green-house effect on the economy of a particular place and it enhances reasonable reduction and fizzling out of vices and criminality in such an environment. The trickle down effect can never be quantified enough in terms of social, financial, economic advantage coupled with the psychological effect of such on the initiator of such business ideology and other people that are making life out of such ideology.

 

Any form of business ideology has a chain effect on the existence of everything that is available in any particular environment. So, if such business is successful, it will end up making endless number of people to be successful no matter how relative it would be and if such a business idea hit the rock, the failure of such would have an effect on many people that no one might be able to calculate and give the statistic.

 

The idea of not being sure and confident if a business would be successful or not, makes the idea of starting a business a risk which could either make or mar the lifestyle of anybody that is attached to such business in one way or the other.

 

 

customer relationship 1

 

Without mincing words, one of the major means by which businesses can be successful is the ability of the owner(s) of such business ventures or conglomerate and all the stakeholders to understand the essence of ensuring good relationship with customers and ways by which such relationship could be maintained must be a front-burner goal for every stakeholders of such business venture or conglomerate.

 

“According to Wikipedia.org, business relations are connections between stakeholders in the process of businesses, such as employer-employee relationship, managers as well as outsourced business partners”.

 

From the above definition of business relation, one could noticed briefly how intertwined the success or failure of any business could be which explain to a large extent what could happen when a business is successful or what will happen when it failed.

 

Relationship is essential for any business to flourish and the ability of any investor to maintain and ensure that good relationship is enhanced between all the major stakeholders of the business become the focal point of the business venture.

 

There is a necessity for any business conglomerate to recognize and reference with reward all the stakeholders of businesses.

 

Important stakeholders that must be recognized, referenced and rewarded by business owners are:

1.Investors

2.Employers

3.Employees

4.Customers and client

5.The business communities.

6.Government agencies.

 

 

 

 

For any business to be successful, there is a need to maintain a smooth and cordial relationship with all the aforementioned parties or entities so that the smooth running and execution of business idea will be carried out without any clog.

 

Customer base or clientele base of any business becomes appreciable and worthy once a better working relationship accompanied with better working environment is established in the process of time.

 

It is when the customer and clientele based is increasing that the business owner could boast of having an acceptable brand that will end up enlarging the financial base of such business leading to astronomical growth of such business.

 

Any business could become a household name once the product and the brand is acceptable by the teeming customer or clientele but this becomes possible once a customer-friendly environment that can enhance customer relationship is invested into and established.

 

No business venture can survive or thrive if the customer or the clientele relationship is bad and faulty.

 

Customer or clientele relationship is the engine of any business.

 

So, every business conglomerate or venture should ensure that all that is necessary to enhance and ensure smooth relationship with customers and clientele is enhanced and maintained.

 

In conclusion,it is pertinent to point out that;

CUSTOMER IS KING!!!

 

 

Customer-is-King.png

“The customer is always right” is a motto or slogan which exhorts service staff to give a high priority to customer satisfaction. It was popularised by pioneering and successful retailers such as Harry Gordon Selfridge, John Wanamaker and Marshall Field. They advocated that customer complaints should be treated seriously so that customers do not feel cheated or deceived. This attitude was novel and influential when misrepresentation was rife and caveat emptor (let the buyer beware) was a common legal maxim.[1] Variations include “le client n’a jamais tort” (the customer is never wrong) which was the slogan of hotelier César Ritz who said, “If a diner complains about a dish or the wine, immediately remove it and replace it, no questions asked”.[3] A variation frequently used in Germany is “der Kunde ist König” (the customer is king), while in Japan the motto “okyakusama wa kamisama desu” (お客様は神様です) meaning “the customer is a god”, is common.

 

“The propensity of a successful business venture should be projected  on the quality of relationship with the customer being a prospect that relationship with every business stakeholder should enhanced and ensured”.

 

customer-is-king 1.jpg

 

Ref:

 

https://en.wikipedia.org/wiki/The_customer_is_always_right

 

©mlstcommunications 2018

 

 

 

 

 

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