Cornerstones of Successful Business Management
Sometimes we all get numb to the massive amount of information there is regarding running a successful business. People can spend hours trying to absorb information from Zig Ziglar to Tony Robbins when really it all comes back to four cornerstones of running a successful business.
- The first cornerstone is planning. Create a blueprint of what needs to be done.
- The second cornerstone is strategizing. Prioritize your priorities. Always go by the Rule of Three, meaning don’t bog yourself down with any more than three priorities.
- The third cornerstone is executing the plan. There will be short windows of opportunity to make money, and you have to be ready to react quickly when an opportunity presents itself.
- The fourth and final cornerstone is being able to monitor and measure progress. Benchmark your company’s performance by industry and peer comparisons. Your banker can be an excellent resource for industry information and data.
As the old adage goes, ‘Failing to plan, is planning to fail.’ Successful businesses require leadership with high marks in all four cornerstones.
FIRST VP OF COMMERCIAL LENDING
101 Huntington Ridge Drive
Louisville, KY 40223
502.244.8729 or 502.321.6545