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Monday, October 09, 2006

Creating a Business That Lasts

David Daniels, over at Business & Technology Reinvention, posts about "the secret to creating a business that lasts."

To do so, David offers, an organization must base their organization upon value-creation principles. Here are the 10 simple guiding principles that his company evangelizes when helping clients looking to grow - and to last:

  1. Connect with your customer and make it easy for your customer to connect with you
  2. Structure a business model with a recurring revenue stream
  3. Make sure the technology under-pinning your product or service has a long lifecycle
  4. Launch products that have differentiated features and benefits
  5. Build for a market not just for one customer
  6. Manage each customer relationship from a P&L basis
  7. Make sure that your people manage at most 4 projects at the same time
  8. Connect with your employees for improvement & new product ideas
  9. Make sure your people are paid for performance and share in your profits
  10. Challenge your top performers and reinvent the bottom performers

BOTTOMLINE: Customers....people....products.....strategy.....execution. (Not necessarily in that order...)

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