Elements that every business must review to survive over time

Regardless of its size, any business that wants to grow and stay in business needs a good business strategy. It must be taken into account in it the different work areas that are most important to the company.

In fact, all business no organization is doomed to fail. For this reason, José David Fernández, entrepreneur and traditional business consultant, tells us what are the 12 key elements that allow a business to persist over time:

Team. Teamwork is one of the most important tools when it comes to organizational efficiency. In our country, almost 100% of the companies have at least one employee, so generating a good team synergy with the workers, where communication and healthy and productive relationships prevail, becomes key to the sustainability of a deal.
processes. In absolutely all businesses, processes must be carried out, to a greater or lesser extent, but in all of them it is necessary to follow a series of steps or activities that allow obtaining the desired result. A good process optimization that minimizes, makes simpler, or directly eliminates failures, will allow the business to be more profitable.
Financial. Companies don’t go bankrupt because their products are bad or their customer service is flawed. Most businesses close due to lack of liquidity. Therefore, good management of financial resources is essential for the health of the project to be better and with less risk.
Management. Every business requires management, a person who guides in the basic aspects of business activity and is capable of making decisions. The difference between a business that earns money and is sustainable over time and one that is not, is mainly in the management.
Innovation. The world is constantly changing and businesses are no strangers to these transformations. Therefore, knowing how to adapt to the future is essential to face it with greater guarantees of success. There are no old companies but exhausted business models.
Marketing. Related to the previous point, this sixth element, which is marketing, is presented as a relatively new and essential tool when it comes to establishing relationships with customers. Currently, the markets are increasingly competitive so there are greater risks. For this reason, it is essential to use instruments such as marketing that allow a company to differentiate itself from its competition while adding value to relationships with its customers.
Strategy. As in any aspect of life, establishing an action strategy that allows knowing the path to follow is essential to achieve the objectives.
Sales. This area is always oriented to the outside. In it, the strategies that the company will follow in the Marketing area are proposed, but beware, we must not confuse sales with Marketing. A business can manage to sell something with very little Marketing and, on the contrary, a large investment in marketing does not have to result in higher sales.
Future. Related to the point of innovation and adaptation is the future. A company may work very well today, but if it does not know how to adjust to the context in which it resides, no one guarantees its sustainability over time.
Technology and information systems. Technology has been a reality for hundreds of years, but for about two decades it has been changing at breakneck speed. A good use of technology together with a correct adoption allows us to save a lot of time in different business processes.
Economic environment. In the context of the global economy in which we live, where dependency and interconnection between countries has become essential, it has a notable influence on the performance and ability to generate profit of companies. Terms such as inflation, GDP or per capita income affect all businesses.
Professional specialist support from the sector. One of the main stigmas that exists in the corporate and business world is that we think we have to do and know everything, and it is not so. Most businesses have a series of limitations that must be exploited with the help of professionals in the sector, such as business consultants.