One way big businesses disappear

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One way big businesses disappear

Big businesses are those small businesses that were flexible and versatile, with a clear purpose and well define plans to grow and evolved. They were also quick to adapt to the ever-changing market conditions.

As long as they are able to maintain all the above qualities, they are likely to stay at the top of the game.

The point where big businesses tend to go south is when the processes and policies become more important that the outcome the business is trying to achieve. At the same time, the vision that provided the north to achieve success is also lost. Eventually, it disappears from the market.

A simplify four step formula for success in any business of any size is:

  1. A clear purpose / vision and values: It provides a clear direction for the business to follow, while the values provide the rules on how to travel during the journey.
  2. A structure that provides the processes and systems to support and facilitate the businesses. Processes and systems are about simplifying path to achieve the outcome defined by the vision.
  3. An excellent execution of the business plans, while maintaining the flexibility to adapt to the ever-changing environment and market conditions.
  4. Finally, the people that makes all the above take place. These people must relate and be aligned to the business vision and values, while having the expertise and ability to execute the business plan using the business structure.

Which of the above four items can your business improve on?

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