Understanding the keys to business success is a necessary strategy that will propel you and your business into a future of success. No one said it would be an easy journey, but it is something that is worth attaining, and the attainment of it can be within your grasp. Discover six keys to business success direct from a CEO of a multi-million dollar company in this fraction of an interview between Dale Beaumont and Sue Whyte.
Sue is the CEO of Intimo Lingerie, a multi-million dollar company in the direct sales industry. It has over 50 staff and more than 1,000 consultants across Australia and New Zealand.
What are the most important things you have learnt about succeeding in business?
I have learnt six key values over the years:
- Keep your customers happy – If you have a happy customer you will have a customer for the long term. The quality of customer service is just as important as the quality of the product. Our customers are happy because they have a beautiful, exclusive product, they receive individual and personalised attention from their consultant, and efficient processing and delivery of their orders. Our product is unique and the service they receive is genuine, caring and professional throughout the entire experience. Our consultants are not only attentive at the time of purchase, they also follow-up to make sure that customers are satisfied and happy with their purchases. I often receive letters from customers who were delighted with their consultant and their purchasing experience. Your customers are the most important part of your business because without them there is no business. Give them reasons to be loyal and satisfied.
- Surround yourself with people who share the vision – You must surround yourself with people who share the same vision and passion as you. I could not have built my dream company without my loyal staff by my side, many of whom have been working for Intimo since the beginning. Good people are a company’s greatest asset and it is important to retain the right people. Communicate regularly and get to know your people. Understand their needs and their lives outside the office – get to know their partner’s and children’s names, and find out what’s important to them. Everyone’s needs are slightly different so it’s important to care about them as individuals, not just as someone doing a job.
- Delegation – Don’t be afraid to delegate. Trying to do everything yourself will inhibit the potential of your business. Learning to delegate and become more selective of what I devoted my time to removed what was holding me back – and it also empowered my staff. Delegating demonstrates trust and gives everyone a sense of ownership of the organisation. It is also a key to managing growth. As a business owner, it can be difficult to let go of ‘your baby’ and trust others to treat it with the same level of care and understanding. This comes down to making sure that you employ the right people. If you don’t let go, the business will never realise its true potential.
- Transparency – Make sure your staff has a very clear understanding of what you are about and what you are trying to achieve. By engaging them and collaborating you are taking them on the journey with you, not for you.
- Commitment – Never lose sight of what you believe in and never give up. Absolute commitment and determination mixed with an ability to always see the positive is vital. Try not to dwell on the negative. If a difficult situation arises, always try to find the light at the end of the tunnel. None of us is perfect and unexpected things do happen. It’s okay to make a mistake as long as you don’t lose your focus. Deal with it, learn from it and move on.
- Treat the business like a marriage – “You need to take as much care when selecting a business partner as you would in choosing a life partner”, and you need to constantly work on developing that relationship. Never take it for granted. Nothing can stall an organisation faster than a deteriorating business partnership.
For more info on Keys to Business Success and this interview check out “Secrets of Female Entrepreneurs Exposed!“
