What’s the most important aspect of a business?
No doubt, some people might say the product. Some others might say money. And there are even those that might say the manufacturing process.
Granted. These are all important aspects of doing business, but then they would all crumble without people.
People, in this case, means two things:
Your Customers Matter in Business
Sam Walton once said, “There is only one boss. The customer. And he can fire everybody in the company, from the chairman on down, simply by spending his money somewhere else.” Michael LeBoeuf reinforced that quote by saying that a satisfied customer is the best business strategy of all.
The quality of your product, the number of social media followers you have, or the amount of money you spend on your brand means nothing if no one buys what you are selling.
Therefore, every aspect of your business should be focused on two things:
- Bringing people (customers) on-board.
- Retaining those customers.
To do this:
- Your product or service must be something of value to people.
- How you balance quality and price should be dependent on what your customers value and how much they are willing to put down for it.
- The packaging and features of your product should appeal to the people you are targeting.
- Your staff ought to be nice and professional towards your customers. Otherwise, you might end up losing those customers.
Simply put, people should find your product or service affordable, valuable, and satisfying.
Therefore, to run a successful business, you must build your product or service around people. If you are changing a product feature, relocating your office, or partnering with a new marketing agency, the main reason behind such an action should be customer orientated.
Businesses thrive on value. People buy what they value. Focus on people.
The People You Work With
These include you, your staff, your business partners, vendors you outsource tasks to, and so on. As Steve Jobs said, “Great things in business are never done by one person. They’re done by a team of people.”
No single man or woman has all it takes to build and run a business. This is why entrepreneurs:
- Seek investors.
- Hire staff
- Outsource some tasks
- Partner with other businesses
The point here is simple. Appreciate people and the value they can bring to your brand. Your employees are involved in most aspects of your business, from production to delivery. They are typically the ones that interact directly with your customers. This is why successful entrepreneurs value people and go to reasonable lengths to keep valuable employees satisfied.
What Does This All Mean?
Humans are not just the ultimate consumers of products and services. They are also the ultimate producers of products and services. A successful business revolves around both the needs of its customers and staff.
Of course, numbers are important. So are technology and efficiency. However, they aren’t as important as people. Focus on people, on meeting their needs and delivering value, and every other aspect of your business will stand firm.
Find out how Macaulay Gidado can help your brand.