Saturday, June 5, 2010

How to buld a business

The man who wants to build a business is concerned about building a structure, therefore he is different from that person that just wants to make money.

The man who just wants to make money is not interested in creating an enduring institution or a strong brand, he is with short term mentality and may even fall prey to his ambition as he cuts corners here and there. He is very transactional in nature and may not have scruples.

On the other hand, the man that wants to build a business has scruples and his particular about his name. He is prudent with resources and plows back profits into the business. He wants to build an enduring legacy that will provide jobs for many and he has an eye on history. He will not cut corners because that impacts on quality. He cares about the feelings of his customers and will not unduly jeopardise relationships. He builds capacity, invest in plants and machinery and when business bleeds, he bleeds. He does not suck money out of the business for vanity projects, and he has an acute sense of deferred gratification. He puts in place policies to to aid the growth of the company beyond him, and he institutes a system of checks and balances even if it constrains him. He trains managers and develops people. He is extremely focused and believes in purpose. The business is his life, not a passing fancy or a side attraction. He builds the business and the business builds him.

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