In order for us to succeed in business it is never a bad idea to learn from someone who has more experience than ourselves, and a great track record of success. It is for this reason that we have been lucky enough to speak with the wonderful Jeffrey Mohlman, a highly successful entrepreneur here in Dayton, Ohio and the CEO of the world-changing Questar gas company. As if this wasn’t enough Jeffrey has his hands on many local businesses here in Dayton, Ohio and he is never shy in helping young entrepreneurs find their feet in the world of business. Mr Mohlman has been kind enough to share his tips of business success with us, and here they are.
One must never stand still in the world of business and we have seen time and time again the number of businesses which have failed as a result of their failure to adapt. The perfect example of this would be Blockbuster video, the one-time industry giants who completely dominated the video and DVD industry. When the internet arrived, Blockbuster failed to react and then companies like Netflix came along and swooped up the market share with ease and Blockbuster was toast. Innovate or die, never forget that.
A business owner must always have a strong list of contacts who who they can depend on when times get tough. When building relationships you should see these as securities for the future as you never know when you will need to make that call. Let’s say a supplier has let you down, are you going to open up empty or call in some favors? This also requires that you help people out when they are in a jam too and this is how business works.
Regardless of how much money you’re making or how great your marketing strategy is going, don’t ever forget about the most important people, the customers. Strong marketing strategies may bring the customers in but it is down to you to give them the best experience of their life, and to offer them the best product or the best service that they are going to have. If you look after your customers and make sure that they are always happy and have what they need, everything else will fall in line.
Recruitment is about way more than just ticking numbers off, it is about putting together a dynamic team who can work in synergy with one another and deliver the message that you want to put across about your business. It doesn’t matter if you have shoe store, and ice cream parlor or an line consultancy agency, you have to ensure that the team which you put together are the right fit for both the business and for each other. Failure to do this will resulting poor performance and there is no amount of training that can fix incompatible people.