There are many elements that go into the running of a successful business. Just typing into google, you will see countless articles detailing what it takes for a business to succeed. However, whilst many refer to the need for capital, marketing strategies and technology to support profits and goals, often we overlook the elements of health and people.
As we set back into the new month of September, whereby the world of work begins to pick up pace after slowing down for the summer months, Bobby Ward, Founder of Vorto Trading shares his view regarding the key elements required in order to build a successful business.
Physical and mental health
One key component that often gets overlooked when it comes to running a successful business is health. In order to run a thriving business, CEOs and founders need to invest in their physical and mental health. We like to think of a person’s business as a car and their health as fuel. If the fuel is bad, the car won’t operate very well and will encounter problems. This is the same for businesses when it comes to the health of the people operating them. This is particularly true of mental health. The mind should be in good shape in order to run a successful business. This includes taking the time to meditate and invest in mindfulness, as well as eating well and doing exercise. A key part of taking care of yourself includes investing in rest and spending time with loved ones. When the mind and body are well, people are in a position to contribute to their business at the highest level and thus more likely to succeed.
The team behind the business is arguably the most important asset. Passionate and highly motivated people are able to drive a business forward towards success so investing in them is key. Ultimately, a business’ performance can be summarised by the collective hard work of all members of the team. By taking the time to hire people who share the vision of the company, whilst also supporting them with their own personal goals alongside professional ones, businesses will reap the benefits of success.
Clear Vision & Mission
Businesses are run by people and people tap into visions. They are inspired by goals. Having a clear strategy of what your company’s vision and mission are will help people to connect with your overall purpose and goal. People will be inspired when they work with a company that resonates with their values. This ultimately comes back to what it means to be human and connecting to a sense of purpose and values.
Fundamentally, a person’s business and their personal life is intrinsically linked and it is imperative to have a balance between the two. Successful businesses are run by people who take care of themselves on a physical and mental level. Equally, successful businesses invest in connecting with others who are on the team. By doing so, they can support them with their goals whilst also working towards the collective goal that drives the business.