Starting a business or turning an idea into a business is quite easy and anyone can start a business. However, building a successful business is where the difficulty lies… That is why a lot of businesses fail in their first 5 years of existence. Ask any business owner, and I’m pretty sure that all of them would say how difficult it is to build and grow a business into a successful business. There are a lot of challenges that come with running a business and if not tackled effectively can lead to a business going extinct. The good news is that, it is very possible to build a successful business, as you can see around, there are a lot of businesses which have achieved success… That is one of, if not the ultimate goal of any business.
In my previous articles, I also talked about strategy and why it is vital for the success of any business… Well, that is just one factor, there are other factors that must be in place for a business to become successful. Don’t get this wrong, there is no set formula for a business to achieve success, in fact, some businesses stumbled upon success, while some achieved success by pure luck and chance… some achieved success due to unforeseen circumstances that worked in their favour… Nonetheless, there are factors that must always be present in order to put anu business in a better position to achieve success.
One of the factors that must be in place is Consistency… consistency is key for any business to be successful. If you look at the successful businesses, one thing that they share in common is consistency… consistency is key for a business to achieve that brand status. Without consistency, a business cannot create perception in the minds of its target customers. In fact, consistency is one of the most important factors of a success brand or business. It is through consistency that a business can begin to cement itself as an authority in a particular target market.
Imagine a business which sells shoes, in a few months’ time, the business changes to selling cosmetics products… Yes a business can diversify but it is important that the business cements its name in a particular market before diversification and also it is important to always venture into new products that are related. While the business can make sales here and there, it would be difficult for people to see them as an authority in any of the market it is in or for the business to create perception in the minds of the target customers simply because it isn’t consistent enough to create that perception. When a business is consistent, it helps build trust and help create better awareness for the business...