If building a business means just making a lot of money then trust us when we say, it won’t last long. Money comes, and money goes. There has to be something more than that. What are you passionate about, what drives you, what do you do well? Those are the questions you should be asking yourself before you begin your journey of building a business. Below is an article I found on the Fast Company website that’s going to give you some insight into building a meaningful business.
“How To Build A Business That Matters
Article Source: Fast Company | fastcompany.com
We spoke to people who have helped build successful, seemingly enduring companies about what it takes to create a meaningful business.
It’s now easier than ever to launch a company. But while 400,000 businesses flood the market in the United States every year, the vast majority of these will never get off the ground, much less be around in five years. By some estimates 80% percent of all startups will crash and burn.
So what are the secrets of companies that are able to stand the test of time? What does it take to create a business that matters to the world?
To begin to answer these questions, we’ve spoken to people from a wide range of industries—from beauty to technology to furniture—who have helped build successful and seemingly enduring businesses. While they each have their own strategies for creating products that stand out in a crowded marketplace, there was one thread that connected their outlooks: Each was fixated with understanding and catering to the needs of their customers.
Take Dropbox’s head of design, for instance, who ensures that someone from his team is spending time with users every single day to find ways to improve the way that people work and collaborate online. Or how the founders of Birchbox have found ways to delight their customers at every stage of the purchasing process.
These people believe that mattering as a business means bringing value, delight, and meaning to the lives of their customers. Read on to learn how they work to create businesses that not only sell top-notch products or experiences, but also inspire others.
Mindshare Before Market Share
Tristan Walker says that when he was thinking about starting a health and beauty company for men and women of color, he wasn’t simply focused on how much money there was to be made by catering to this market segment. Instead, his head was swirling with stories about how difficult it is to grow up in a country where cosmetics and grooming companies have consistently ignored your needs as a consumer. For instance, it has often been near impossible to find the right foundation color if you happen to be a dark-skinned woman, and until recently there were no razors available in stores designed for men with coarse, curly facial hair.
Walker himself has experienced some of this angst. Early in his career, when he was an intern on Wall Street, another trader rudely told him to clean up the hair on his face…”
To read the complete article from the direct source, visit the Fast Company website here.
Here’s another resource you can take advantage of for more information…
image credit: Image courtesy of David Castillo Dominici at FreeDigitalPhotos.net