Which Core Pillar is Vital to Your Company’s Success and Why

Like any building with a sturdy foundation, a successful business is built from the ground up with elements which offer structural integrity. In the case of a business, these items are not physical objects such as concrete or load bearing beams. They are beliefs, efforts, and practices that create hypothetical building blocks to form a profitable corporation. Similar to a building, these elements work together and play off each other. Just as a robust house requires a solid frame in order to support the roof which provides protection, a business needs knowledge to market their product which allows them to pay their employees. These things form a symbiotically dependent relationship. Jack Welch, the former CEO and chairman of General Electric, summed up the integrated parts of a business, “There are only three measurements that tell you nearly everything you need to know about your organization’s overall performance: employee engagement, customer satisfaction, and cash flow… It goes without saying that no company, small or large, can win over the long run without energized employees who believe in the mission and understand how to achieve it.”

As each company is vastly different in their service and approach to success, many executives prioritize one piece of the foundation. We connected with them to discover which core pillar is vital to their company’s success and why.

Internal operations

Jean Gregoire is the founder and CEO of Lovebox, a company which has designed a physical messaging device geared towards bringing loved ones together across distance. He believes that smooth back-of-house procedures are integral for any company looking to advance.

“Internal operations are like the bones of the body. There are a variety of pieces that work together to allow the business to hum. Computer systems such as servers or stock management services allow all information to be accessible and organized effectively. Manufacturing or transportation equipment will provide the ability to handle products effectively. Wonderful employees are a sure fire way to ensure that these systems and customer relations flow smoothly. Without the proper internal operations figured out a business is likely to come apart at the seams.”

Attitude

evo hemp retails a variety of CBD products while prioritizing their relationships with CBD farmers. Their co-founder, Ari Sherman, considers the mentality of those in charge to be incredibly influential on the direction of a company.

“I don’t think that the attitude of an executive is one that is discussed enough. A company, and the accompanying employees, can only go so far as its leader can take them. Some executives believe that they are what they are, a finished product running a business. Others believe that no matter their current status or past accolades, they have the ability to grow and better themselves. This involves facing challenges head on, seeking new information and innovating. The latter are glass half full people who see every opportunity as one cultivating expansion and not simply overcome.”

Knowledge of the competition

No matter the industry, every place of business will have competitors attempting to establish themselves above the other. If a company can understand what works and does not for the competition as well as what they are actively engaging in they have the ability to attempt countermeasures. Rachel Jones is the head of PR for Hope Health, an online marketplace focused on health products. She advises awareness of a company’s surroundings.

“No company exists within a bubble of isolation. The waters of business are filled with sharks all in search of the same prey. Without knowing what your competition is doing, being swallowed up is a likely outcome. Where are they succeeding? Have they encountered failure? In what ways are they threatening what your company is doing? The answers to these questions will provide paths towards new ideas and corporate achievement.”

Technology

Will Watters is the co-founder and creative director of Western Rise, a performance clothing brand built for men. He believes that a modern world calls for modern answers in the shape of technology as it affects every aspect of a company.

“Business and companies have existed for centuries but only in recent years has technology become the standard for streamlining efficiency and gaining knowledge. Computers and the internet have changed the world and the ways that businesses operate. Marketing, internal and external communications, customer service, and analytics are all built around technology at this point. Introducing and utilizing the most modern technologies for each of these areas is essential. It’s also important not to be complacent with technology. It’s always evolving and your company should evolve with it. Doing this will only serve you better down the road.”

Relationships with customers

Outset Financial is a company offering financial self care through trusted insurance products. Their CEO, Heather Pulier, advises anyone in a position of power to emphasize the importance of maintaining high quality rapports with their customers.

“A relationship with your customer goes much deeper than greeting them at the door or a smile at the cash register. Customer service, whether it’s assisting them in finding the product that meets their needs or working towards resolving a problem plays a huge role in how the public views your company. Furthermore, a company should know what their potential clients specifically desire as it relates to their product or service and adjust themselves accordingly. In many ways, the customer holds all the power and companies should do their best to come alongside that.”

Creativity

Every business will encounter difficulties and challenges. Some of those are fairly straightforward while others require outside of the box solutions. Original answers to problems can do more than get a company out of a jam. Ann McFerran, the CEO of Glamnetic, a beauty brand featuring magnetic eyelashes, considers this true.

“The ability to be creative in all facets of running a business should not be underestimated. Between marketing campaigns, data analysis, and resolving issues, innovative answers may allow you to elevate your company faster than following a tried and true method done before you. Unique thinking is not easy to come by but it is often a quality that is most notable in those who are pioneers within their industry. If you’re able to set yourself apart from the competition you’ll go further than you imagined.”

Marketing

Straight Up Growth is an agency focused on helping companies grow using Amazon’s search engine. Their co-founder, Daniel Tejeda, believes that marketing is a critical pillar which should be the utmost priority.

“You can design the perfect product or offer a service which is in high demand but if your possible customers are unaware of your company then it’s as if your company doesn’t exist. Marketing yourself well is the answer to the problem of visibility. Effective marketing will make you visible to a wide variety of people who have interest. There are numerous ways of going about this and using many of them is advised as the most exposure possible is the way to go. If you’re in the process of building your own company, be sure to spend ample time on your marketing campaigns.”

Be dependable and responsible

Alex Czarnecki is the founder and CEO of Cottage, a company specializing in custom built accessory dwelling units. He regards the qualities of consistency and accountability to be definitive of a successful business.

“In business, an array of people depend on you. Clients depend on their needs to be met. Other companies depend on deals to be upheld. Employees depend on their paychecks. Failing to meet these needs will result in more than just a poor opinion of your company. For those instances where your company doesn’t meet the mark, it’s necessary to be responsible for your shortcomings and work to make restitution. Public and private opinion of your company is part of the essence of what you’re attempting to build.”

The best customer service

A customer’s experience with a brand can define how or if a customer interacts with that brand in the future. A bad experience can quickly turn a customer away for good. Tommy Chang, the head of marketing for HomeLister, a website allowing customers to sell their home, understands this.

“By far the most pivotal pillar to our success is being obsessed with providing first in class customer service. It’s the entire basis of our company and something we absolutely will not compromise on.”

Companies have so many moving parts and qualities which work in unison to create a smooth sailing ship. All of the parts are necessities to creating success but some may hold more significance or impact than others. An incredible amount of effort and time goes into getting a business off the ground and you must do everything possible to give yourself the best odds of success. Warren Buffet, the CEO of Berkshire Hathaway, put it best, “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.