This decline after growth is a result of inconsistent growth and failure to comply with the strategy of the company.
Consistency in business is defined as a well-defined manner of obeying to the business rules; it is the extent to which a company’s operations are in accordance with its defined set of rules or strategy.
To avoid the declining stage in your business, your business must be consistent with its policies and strategies put forward by management. Consistencies in performance and rightful actions of the employees have a significant effect on the growth of the company which directly or indirectly renders changes in the sales. Skillful team and hard work help in achieving the consistency. Efficiency, effectiveness of operations, productivity and sales are the byproducts of consistency in any business. Sales are directly proportional to growth and strategy.
Higher the consistency, higher is the sales
In an event of inconsistent business or the lack of consistency growth of the company is hindered because of the losses, outflow of cash, debts, payables, lost leadership, lost focus, less emphasis on vision and mission of the company and centralized or bureaucratic system. It is therefore important for the leaders of the business to demonstrate effective consistency in business.
A brand or a business is not developed overnight, skill, hard work, knowledge, expertise, human resource, capital and consistency are what makes a business a brand. Business or brand equity is the value associated with any brand. Its goodwill, positioning and financial standing in the industry define it. When developing a business into brands, you first need to understand that business is all about your customers.
Any business becomes a brand following these steps:
- Choosing the customer segment or audience you want to target via a ideal client filter
- Develop SMART goals framework
- Bring forward your product or service with a clear mission, vision and strategy
A business becomes a brand only when it empathizes with its customers, walks in their shoes to realize their needs, draw inspiration from them, draws outlines of what needs to be done and be customer focused all the way through.
Once you have developed a brand, you will have everything you ever wished in your business. That is the power of a brand when it is customer oriented. Your brand is a promise to your customer. It differentiates you from your competitors. When a brand becomes so important to you that you feel its presence, need and usage in your life on a regular basis, you start living a brand. Companies live their brands when they own it like their asset and possession, when they strive to make it better with every passing second and make periodic changes to adapt. The companies that live their value live their brand. Famous examples of the companies that live their brands are Google, Starbucks, Apple and Ralph Lauren.
A brand or a business is made up of the human capital and its services for that business. Everything that we love about Disney is all because of the hard work of its employees that we are seeing today. It’s the employees or the team mates who make a company who they really are. Proctor and Gamble say, take all our resources and leave behind our people/human capital we will begin from the scratch and make us what we are today and even better. It’s the human capital or the athletes of the company that with their expertise, skills, knowledge, make up a company what is really is. Employee empowerment is all about giving space to your employees trusting them with your values to earn a lifestyle of exclusivity for your brand. A culture of your company is centralized, decentralized, bureaucratic or simple which allows your athletes to function accordingly and bring goodness to your brand or your company.