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Home / Blog / General Info : Discover the Best Business Ethics for Highly Successful Businesses: Part One – by Young Eddie

Among the very important needs for the development of any society or community; there is no doubt that business plays a vital role. Through the art of business; many social requirements and needs are met to ensure that all living creatures with in the society maintains their state of wellness as well as develop into a more fulfilling state. Taking an observation of the physical world; countries with well-developed businesses have the highest power and control than the others; this shows how business has the ability to improve developments as well as confidence to the very owner but also to its corresponding society once the business succeeds to reach at high ranks.
However, people have different views and ideas when it comes to the subject of businesses; some believe that business brings about a positive development and outcomes to the society while others believe that it is a source of most negative outcomes with in the society. Depending on what your view on the business world is; the truth remains static and constant that business plays a great role in ensuring that the community needs are met sufficiently. Needs like employment, domestic products, infrastructures, domestic services etc would be very difficult to attain in the absence of business. However, it is very unfair to deny the presence of bad businesses which bring about negative impacts to the society.
Many people on this mother earth would like to have a business that will succeed and pave their way to the high ranks and in-fact all people who start businesses have one clear goal in mind which is to succeed into high ranks but only few of them make it to the top; in-fact only a few people maintain their businesses for two years after they have established them. The reasons for their failure are clear and solid that they do not have the best knowledge to hold to as they manage their businesses. They may have good intentions for starting a business but to maintain and improve the business; a good knowledge is required and there is when you need to learn and understand the best business ethics for highly successful businesses.

Discover the Best Business Ethics for Highly Successful Businesses

Set A Goal and Go For It

If you wake up in the morning and start thinking of what business you should do to earn money then I doubt if that business will ever succeed. Do you know why? Because the term business does not describe money, it describes needs. If you instead wake up in the morning and start to think how you can provide the best healthy food products to ensure that food is always available easily and cheaply for everyone, that will surely do. Poor goals will give you poor motive for your business and therefore produce poor achievements. Set a clear goal or goals that not only benefits you but also the society and make that your motive and go for nothing but that pure community based goal.

Have a Wide Vision but a Narrow Focus

The bigger and larger your business will be depends fully on the vision you have. If you have a bigger vision then you are most likely to have a bigger business and vice-versa is true. For example your goal is to provide apples to the society; a bigger vision is to think of how to supply apples to the whole world so that everybody would get the benefits of apples and a narrow focus will be to focus on the production and supply of apples only without including mangoes, oranges or any other similar product so that you can rip the highest benefits from apples but also to give all you can to produce the best products and to supply them in the best way possible. So whatever your business product or service is, think of expanding it to the world level and be as descriptive as possible on your specific focus.

Decide What to Do and What Not To

As you manage a business, various distractions come along the way; some are good and worth engaging with and some are not. If you know what you should always involve with and what you should not, it will make it so easy to immediately act on opportunities that come ahead before others do. You should make these decisions early in advance and abide by them because they are this decisions that will govern your entire business and will also determine the extent of your business. Put a list of all things that you believe are legit and worth doing in the business and the ones you believe are not legit and unworthy; including the ones you are having access to currently and the once you don’t have current access to, so that in-case an opportunity arrives; instead of thinking whether you should take the opportunity or not, you instead immediately take the opportunity or ignore it.

Manage Your Employees/Team

To be sincere, you need other people to assist you in your business. These people could be your employees or team depending on the nature of your agreement. Whatever your agreement is; you have to manage this people in the right way and in the right direction of focus. Make them realize how deeply you want your business to succeed, how you want things to be done, how the business will benefit them and the society at large. Don’t treat your employee as slaves or anything of the kind. Spend time with them to know how they see the business, what they like in it and what they don’t. Initiate with them positively and motivate them regularly on both material and non-materials things. Note: If you have well managed employees/team you can always build a good and better company but if you have poorly managed employees/team even the company you have now will fall and never raise again. Therefore appreciate your employees and manage them well. Since you only have two hands and you are very limited to the number of activities you can do despite the amount of knowledge you have, well managed employees could simply mean more of your very own hands.

Set Clear Plans and Strategies

Note: If you fail to plan it simply means you are planning to fail. After you have set a clear goal or objective, you need a plan or strategy that you will follow through to achieve your goals. A plan is simply a road or path that you make so that you can walk your business through. Here is the good thing and bad thing about plans. A plan will always take you to where you set it to take you despite the fact that you are aware of it or not. Whether you know or you don’t know if your plan is good or bad; your plan is just a road/path and the only thing it can do is direct you to where it heads. Therefore it is up to you to make a plan that will direct your business in the direction you want or desire. Once the plan is heading in the best direction so is your business. You may need to consult other successful business people to help you out but don’t rely on their suggestions; it is good to be as unique as you possibly can. Don’t start a business without a plan your most certain to fail. Make a five year, 10 year, 20 year, 50 year and 100 year plan for your business to pass through. Due to the dynamic environmental changes you might need to modify your plans, but as you modify them, don’t ever forget your primary reason for starting the business for that is the life of your business.

Be Open Minded

The world’s best innovative ideas were obtained from unexpected situations or people and so it will be with yours. Don’t only expect best ideas from your professional qualified consultants or close friends. Be open enough to let anything suggest an idea to you. Let a child tell you something concerning a certain product or service you produce, it’s true that they might have a very low understanding of things but it’s not true that it is always that way. Most business owners don’t consult their employees on high matters; your employees know your business more than you think they do. Be open to some of them that seem creative and unique, ask them what they think of the business and what should be modified and maintained for effective and efficient performance. Not only being open with people but also with situations. Don’t stick in the office full time and then back to bed. Take some time to walk in a park, garden, beach and observe the nature around you, by doing this your mind sucks new ideas all around the environment through vision and thought. Not all ideas you hear people saying to you are good, even if they seem good, relax and personally analyze them carefully if they match with your primary objectives and plans for the future before deciding whether to include or exclude them.

Manage Your Cash Flow Closely

When you talk of the existence of a business you can’t escape the fact of the commodity value which is the money in and money out. The healthier your cash flow is, the wealthier is your business. Don’t exclude yourself from the managing business cash flow even if you employ a professional to do that. Cash flow management is a very important part of the business that despite what the business is facing currently it will ensure that the business maintains its state of financial balance. Take note of newly existing unexpected balances and put them into consideration for the future. Managing the cash flow of the business will make you aware of any financial or market changes immediately when they occur and you can take effective measures sooner and avoid future risks.

Always Aim At Serving the Community

Remember that community based goals and objectives are the heart of any high ranking business and so should your business aims. Keep a close eye to the community that your business serves. Aim at providing only the best to your community and at a reasonable cost. By cost it is not necessary in terms of money; it could also be through other ways of payment such as inviting another customer to buy the products or services etc. Be creative as you can be but just don’t forget that your priority lies to the satisfaction of the overall community needs. The moment you stop serving the community and look at your very own interest which usually happens after you’ve started succeeding, you are most likely to start losing your business direction and focus which as mentioned above is the heart of the business existence. Let you do your interests after getting your own paycheck from the business but do not redirect the business plans and aims to look after your personal interests.

Emphasize on Team Work, Confidence and Open-ness

When it comes to managing a business; you are very exposed to great challenges. Even though you can tackle this challenges personally if you had unlimited time and unlimited strength with you, but you probably don’t have unlimited time and your strength wears off within mostly eighteen (18) hours of constant working and you need a total rest; having a team that works together to achieve a common goal could do you a big favor. Emphasize your employees and team members on togetherness, confidence and open-ness. These three tools are very important if you are to make it safe and successfully through all the business challenges you come across with. With a team working together with confidence and open-ness not a thing would be impossible to achieve. Build a state of belonging to each other among your employees and team members. In order to do this, you will need to be creative on how to engage your team together to understand one another for the sake of the business and themselves. Coaching your employees should do it but also regularly hanging out together as a business team and even more as friends should make it a lot easier to build these tools among your employees or team members.

( Continue Reading Part Two )

 

About the Author

Hi; My name is Young Eddie. I am the founder of the website “My Life, My Rules” where i teach and help people succeed in anything they want in life. If you would like to learn some great ideas please visit my site at: http://www.youngeddie.com

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