How to build an enduring business?

[Starmix]

Those who have businesses big or small have their ways of letting their businesses endure. If we can endure, so also our business. The following are considered ways to make business endure.

1. A strong balance sheet
2. Consistent profit growth
3. Data to make the right decisions and to learn from the wrong ones
4. A system to identify and complete the most important priorities
5. A strategy to deliver a sustained competitive advantage
6. People-magnet machine
7. Strong culture and behaviors

Which among the 7, you have applied or embraced to your business to let it endure? In my case, I have a strong balance sheet, consistent profit growth , and strong culture and behaviors.

 

[Stardom22]

For me l have been embracing on the consistent profit growth strategy. However l have seen that one working to me.

 

[Fidelia]

Another factor that can really help a business to endure is a unique value offering. That would help you to attract and retain exactly the kind of customers suited to your business.

 

[Starmix]

I like all the 7 strong strategies to make a business grow profitably and enduringly. There might be others but these 7 were proven of big advantage among others.

 

[eLdavis]

Proper planning and managing also plays an important role when it comes to generating profit In your business.

 

[Starmix]

Consistent profit growth must be the priority of the business owner. He must see to it that his plans match with his goals so that he can have a consistent profit growth.

 

[neku]

Technology changes frequently so it is more difficult to build an enduring technology business, Myspace is an example. It is more easier to build an offline business like a grocery shop and continue for years.

 

[Starmix]

There is an enduring business you might not know like a pharmacy. A pharmacy is an enduring business. It will never disappear on the planet even if the prices go high. People need medicine based on the prescription from the doctors and those that can be bought over the counter.