Enterprise

 

Business Success

Top 10 TIps 10 Rules for Building a Great Business

 

Vadim Kotelnikov

Great business is a daring vision of a passionate and creative victor,
not a blueprint by a consultant.

 

1

Believe in your vision and your business. Commit to it

If you and your people love what you do, you'll try to do it the best you possibly can.

The Power of Passion

2

Define shared values and let values rule

As Steve Jobs, the co-founder of Apple Computer, put it, "The only thing that works is management by values. Find people who are competent and really bright, but more importantly, people who care exactly about the same things you care about."

Matsushita's 7 Principles of Management

3

Build and synergize your corporate capabilities

Corporate capabilities are the basis of your sustainable competitive advantage. They help your business achieve its vision and strategy. Focus on distinctive capabilities that cannot be copied by your competitors.

Competitive Strategies

4

Focus on your customer

Create a customer-centric business model. Practice  customer-driven innovation. Stay close to your customers, listen to, and partner with them if you wish to create superior customer value.

Value Innovation: Yin-Yang Strategies

5

Create a winning organization

Cultivate leaders. Create hot teams, inspire, energize, and empower employees. Create an adaptive organization. Create an inspiring culture. Search for synergies. Leverage diversity.

9 Signs of a Losing Organization

6

Reinvent your business continually

Work on your business. Set stretch goals. Search for new opportunities. Facilitate cross-pollination of ideas. Make brainstorming a religion.

Smart Business Architect

7

Surprise markets and competitors by introducing disruptive products

Encourage creativity and radical idea generation. Challenge assumptions, break rules. Insulate radical innovation projects from corporate bureaucracy. Allow experimentations. Give people freedom to fail and start again more intelligently.

The Jazz of Innovation: 11 Practice Tips

8

Live speed

Build a fast company. Think fast. Make fast decisions. Simplify everything. Eliminate bureaucracy. Pursue opportunities faster than your competitors.

3 Strategies of Market Leaders

9

Institutionalize innovation

Establish culture supporting innovation, innovation processes and metrics. Create cross-functional teams driving innovation, provide strategic alignment and necessary resources.

Innovation-friendly Organization

10

Make business fun

Business today is about passion, fun, and winning. Don't take yourself and your business too seriously. Get less formal. Make fun part of your culture. Establish creative chaos environment. Celebrate success.