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Posted by on May 31st, 2012 and filed under Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Reviewing Key Business Strategies – Part II

Julia Rabago is the executive  director of Crescenta Valley  Chamber of Commerce.

Julia Rabago is the executive director of Crescenta Valley Chamber of Commerce.

“Action is the foundational key to all success.”   Pablo Picasso
I did research on what it took to be successful in business and found that there always seemed to be the same six cornerstones of being successful. The first three cornerstones for success in business are networking, customers and passion, which I elaborated on in the last issue of the Crescenta Valley Weekly.

Today I am going to tell you about the next three: flexibility, focus and balance.

The fourth cornerstone of successful businesses is flexibility. Understand that the world is changing. Marketing in today’s times is completely different than in the past. Successful entrepreneurs know that they should not be rigid in their ways of thinking in their quest to improve their products and services. Be flexible and change with the times and don’t get stuck by thinking this is how you always did it in the past.  Be adaptable and flexible to respond to changing situations and do not let fear hold you back. It is okay to fail. Use failure as an opportunity to learn. Take calculated risks. Always update your pricing, promotion, customer service, distribution, etc., in keeping pace with technological changes. Use change as a springboard to improve your products, procedures and reputation. Keep your eyes open for new ways of doing things and apply those that can improve the quality of your products and efficiency of your operations.

The fifth cornerstone is focus. What you focus on expands. Be productive.  Formulate good habits to focus on what drives sales and profit. Make timely decisions. Procrastination leads to missed opportunities. Have a strong work ethic and stay focused. You have to consistently keep doing the things necessary to be successful day in and day out. You need to create long-term positive habits. A good plan helps you increase your chances of succeeding and can help you define your risks. It tells you where you are going and how to get there. Going into business without a plan is like packing for a trip but not knowing where you are going. And always be organized and keep detailed records.

The sixth cornerstone is balance. Take care of yourself. Balance your life. You cannot be successful unless you are balanced and healthy. Separating time for daily business tasks, profit driven tasks, and free time is a habit that will make your business and life more enjoyable. Encourage and accept criticism graciously. Admit your mistakes. Exercise more. Take vacations. Eat healthy. Take some quiet time for yourself and surround yourself with good friends and family.

The CV Chamber wishes you a very profitable and successful business. A great way to help ensure success is to become involved with the chamber. We can help.  And if you are not in business or would like to volunteer to a worthy cause, the CV Chamber is also a great place for you. We need volunteers helping to set up events and also in the office for general office work. We could also use a high school student or two during the summer to help in the office from 10 a.m. to 2 p.m. Students will receive community service hours and learn valuable office skills. Please contact our office for more information.

Important CV chamber dates: June 13 – Business mixer at Caspian Services.  Please call our office for more details on any event. How to reach us (818) 248-4957 / crescentachamber@aol.com / www.LaCrescenta.org / 3131 Foothill Blvd., Suite D.

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