5 Small-Business Principles That Stand the Test of Time

Quite a few small-business principles stand the test of time, whether the year is 1916 or 2016. To help ensure your business gains the longevity it deserves, consider the five key points outlined below.

1. Deliver a Promise Instead of a Product

In other words, make your product or service about the experience more than anything else. Walt Disney did, according to an oft-told story. He realized that amusement parks tended to be dirty and poorly maintained, and he decided to deliver a promise of value and fun at his parks. Along the same lines, Amazon promises to make buying stuff easy, and Apple promises to deliver the latest technology in simple and chic forms.

Offer a promise or experience with your products or services, no matter what they are. For example, an accountant could promise to actually have his clients looking forward to tax time because of how easy he makes the process.

2. Have a Mindset of Flexibility and Adaptation

Number one, delivering a promise, helps tremendously with number two, flexibility and adaptation. This is because when your business is focused on delivering an experience, it is not as dependent on particular products. Thus, as technology evolves and new forces enter the market, your business is better able to adapt.

3. Focus on Customers

A focus on customers should come naturally when your business delivers a promise. What do customers want, and what do they need? How can your business make their lives easier or fill some niche? Every business principle or business action your organization takes should ask one question first: “How does this benefit the customer?” Focus on the experience you can deliver to customers that no one else is able to.

4. Emphasize Soft Skills Over Hard Skills

Empathy and good communication are two soft skills that are somewhat difficult to teach. On the other hand, teaching someone how to use accounting software is more doable. To help your business stand the test of time, emphasize the soft skills you need more than hard skills that can be taught.

5. Venture Boldly Forth

Chances are good that your small business has its share of critics. Perhaps they think that an idea is too outlandish. Part of business life is calculated risk taking. Offer the market something exciting that has never been seen, or shape a product in a unique way. Let your instincts be your ally.

Follow the five principles above, and you’re well on the way to standing the test of time. May your business live long and prosper!

By Carl Allan  (CEO Kala Digital).

Kala Digital helps local business grow online.  Kala Digital has generated over $50m for local business around the world.  If you would like to learn more about digital marketing for your business download our FREE E-Book.  “What Every Business Owner Ought To Know About Online Marketing” here.

"Trust me this book is full of great advice, but you need to take the steps to make
it happen!"