Entrepreneurs are always looking for ways to market their businesses, find new customers and take their profitability to the next level.
I’ve been thinking lately, based on some recent experiences and success stories we’ve had at CorpNet, about what are the fundamental elements of business success. To me, it comes down to “LASR Focus” – and “LASR” stands for “Love, Affection, Simplicity, Reliability.”
Love: I’ve written before that my business, CorpNet, founded on Love. My husband Phil and I started a business together back when we were a young couple with no money. We’ve built our company together based on our common vision for how we want to run a business and how we want to live our lives. If you have love for your business, love for your customers, and passion for your industry, you’ll be more likely to succeed. Entrepreneurship isn’t just about money, it’s ultimately an expression of love – creating something great.
Affection: No matter what business you’re in, you need to offer your customers a personal touch. One of the lessons that our blogger Ben Gran wrote about the story of his former favorite bakery (that eventually went downhill and went out of business) is that the business used to make all their customers feel like family, but the new owners lost touch with that over time. Instead of greeting customers by name with a free slice of bread, the new owners of the bakery didn’t make quite the same level of effort to build customer relationships. Eventually, their customers stopped coming back.
Simplicity: Here at CorpNet, we have a simple focus – we help people start a business and manage their business filings. We don’t try to be all things to all people; we know what we do well, and we serve a certain type of client that wants a higher level of service. Bringing simplicity to your business is often a matter of saying “No” – telling certain customers that they’re not the right fit for you, deciding not to pursue certain ventures, deciding not to invest in certain areas. Keeping your business simple can often keep it more profitable. Just as many restaurants struggle when they have too many items on the menu, you need to figure out what your business does best.
Reliability: A big part of business success involves keeping your customers happy so they keep coming back and buying from you. Here at CorpNet we pride ourselves on delivering consistent, reliable, accurate service. What can you do in your business to ensure that your customers are getting a consistent and reliable experience? Whether it’s training your employees or investing in the right systems, or creating repeatable processes, you need to look for ways to make sure that customers are never disappointed by your service or by the quality of your product.
Ready to start a business? Talk to CorpNet for a free business consultation on how to incorporate a business. CorpNet’s free tools, advice and guidance can help you choose a business structure, form an LLC, set up an S-Corporation or other corporate entity to protect your assets and attain the corporate tax benefits and financial advantages of doing business as a corporation.