Businesses have changed in the past 20 years; technological advances made it so. The ideas, the product and services, and even the delivery channel are different. But some things remain the same at the core of every business.
From the entrepreneur’s commitment to management skills, a robust sales department, or even put in practice strategies for getting small business loans, the bones of a company are the same, just with a different face.
So, take a look at some things that companies did in the past that are as useful today as they were then. There is a reason why those businesses succeeded, and you can use them in your company, no matter your industry or offer.
Table of Contents
- Five timeless lessons for business success
- Introducing old school business strategies
Five timeless lessons for business success
1. Do things with love and passion
Having a business requires commitment, which means that you’ll be immersed in all things business for the best part of your day. Choose something that you are passionate about and make it work in today’s environment. When you don’t feel love for what you do, you’ll most likely do it wrong.
2. Have a mentor
There is always someone that does it better in your area. Reach out to this person and ask to coach you, help you with a plan to become a better business leader, and work out a plan to achieve new goals like a new business line or small business loans applications.
You will have a very close relationship with your mentor, so make sure you choose someone you already get along with and that is willing to put in the effort to help you.
3. Broker alliances
You are working for the world, so don’t isolate yourself. Reach out to other people or companies that can complement your offer, even if in some way they are your competition. Imagine that you have a cleaning services company. You can have a cleaning product manufacturer as an ally: you buy your supplies cheaper, they have a regular income, and you can even promote their brand.
4. Work for your customer
Being customer-centric is as essential today as it was 20 years ago. Listen to what your customer needs and tailor your offer to match this. You can’t be everyone’s favorite, but you can have a solid client base that comes back for more as long as you keep them happy and they feel acknowledged.
5. Surround yourself with experts
You are not a super entrepreneur. You have weaknesses. Detect them and hire people that can complement what you are lacking. This way, you’ll have an integral team that knows how to respond and execute anything without you working yourself to the bone and delivering a less-than-premium product or service.
Introducing old school business strategies
This won’t be as hard as you think because people already know that this is the way Henry Ford succeeded once upon a time, so you’ll have to do a little work on your own, and everyone will follow your lead.
Evaluate your operation
Spend some days among your employees, take notice of what they do, how they do it and find a way to make it better.
Create a good working environment
This will be transversal to every part of the company; you’ll have to create and communicate a company culture that promotes innovation, open communication, safety, and commitment.
Talent above all
Find and develop the talent of the right people in the right place. This way, you’ll have the best of the best, and you’ll even save some money in training new hires. Give them benefits and make sure they are happy. After all, they are the soul of your company.
Be a leader, not a boss
This one is old school business strategy but also very new to a lot of companies. Get the idea in your head that you are part of the team. You are not above anyone. No matter in which position anyone is, they are fulfilling activities as important as yours. Everyone is working towards the same goal, so show them how it’s done humanely.
You don’t need to be a big tech company to have the right corporate culture. If you need help, you can tap into small business loans to fund a new HR department or a consultant to help you make these changes. Your company, your employees, and the bottom line will thank you for it.