Want to Make Unlimited Wealth? Master These 2 Skills
The magnitude of your success is limited to how effortlessly you can manage people and processes.
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Introduction
Business is simple. Business owners end up making it really complicated.
What is business?
In simple terms, it’s just an exchange of value for currency/ financial benefit.
Isn’t it?
Every business provides value in the form of a product/ service, and for that product/ service of value, the customer agrees to pay the business which becomes the revenue.
If this is the simple understanding of business, why do so many businesses fail and why do most people feel that businesses are too risky/ complicated?
Well, that’s because many business owners tend to focus on multiple factors within business before they master the two most important areas of focus.
Processes
Have you ever imagined how the coffee at the international coffee chains taste so similar across various cities?
Not just within cities, the taste of their product is pretty similar across countries and continents.
Have you wondered how some local restaurants can’t stay consistent with the taste of their coffee on two different occasions, and yet there are these brands that serve you similar products/ experience across the world?
This is not limited to coffee. The product of a particular brand would be priced and available in the exact same specifications across the world.
More often than not, difference in pricing of the product across the world is a byproduct of the taxes of the particular nation, but the company makes similar revenue from the phone/ shoe/ apparel they sell in the US or United Kingdom or India or Australia.
The only reason why this is possible is because successful companies today function on standard operating processes.
A company can move a simple act of packaging the product or the entire factory where the raw material is converted into a finished product in any pin code of the world subject to availability of land, labour and infrastructure.
This is the magic of having clear, well-defined processes.
How strong, robust and absolutely effective are the processes of your business?
This is just the first half of the story.
Let’s look at the second half of the reason for the success of businesses across the world.
People
Have you ever seen a successful company where the people working for the business/ brand are unhappy?
Do you think a business that’s built on a toxic work environment for the members of the company can sustain in the long run?
That’s like asking can any living creature survive if they drink water out of a pond with stale/ polluted water.
People in the company are like water for living beings.
The way living beings can’t survive without water, similarly, businesses can’t survive (and grow) without humans.
Your team and the culture of your organisation is one of your biggest moats in the business.
Companies and businesses that value their team members are the ones who manage to survive multiple challenges of the industry, competition, external circumstances, et al.
The day you start valuing and building your team on the basis of merit and create a culture where every team member feels valued and has a clear growth path as they work for your organisation, you will start building a business which doesn’t grow in a linear manner, you will create a business that multiplies and grows exponentially.
Conclusion
Do you now see the impact of unwavering focus on processes and people?
I hope after reading this post, you’d agree that mastery of processes and people can result in unlimited wealth and profit for any business.
Make sure you share this learning with someone who you know is struggling with scaling their business or with people on your social media accounts.
Who knows you may end up saving someone’s business from falling apart.
Your Thoughts!
If you feel you’re absolutely lost or if you feel you need more clarity with your business, the processes of your business, your team building and would like to consult with me for the same, feel free to reach out to me and let’s connect.If you’ve reached till this point of the post, I’m sure you must have some thoughts/ feelings/ opinions about what you’ve just read.
I’m done sharing what’s on my mind, and now is your turn to share your POV.
Tell me how you are processing the information that you’ve just read?
Do you agree with my thoughts?
Do you think I missed something important?
Do you disagree with something in particular?
Let’s continue this conversation (or ask your questions about the post) in the comments below.
Keep Going Keep Growing 🚀
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Prompt used to create the image for the note
P.S.: Image made on Meta AI using the prompt, “Imagine a business owner who is standing on the factory floor talking to the team working the shift”