What makes a business successful?

 There is so much to be said about how a business should be operated. When I was just 22 years old with no experience in business, I was invited to be a minority partner in a small pest control company. I felt extremely blessed with this opportunity. Because I was a partner, I put everything I had into growing and developing this company. Together with the other two owners we grew the company extremely quickly just out of hard work. 

Since we had been given such a great opportunity to be business partners and maybe because of our young age we treated all our employees as if they were partners. Each employee recognized how we appreciated and worked as if they were partners as well. We provided wages that were higher than the industry standard. We numbered and remembered all those that were dependent upon the success of the company. Every time we planned, we determined how it would affect every employee, spouse and child that depended upon our success.

As we ran the company being aware of the affect on those dependent upon our success, they gave their all and performed to the best of their abilities. All the customers recognized how hard they employees worked and put so much effort in providing a great service. The result was continued growth, profitability, and general success.

Often, we see companies that seek profitability at any cost. I have witnessed this happen in a variety of businesses. The result is generally high employee turnover and the quality of customer service drops.

I witnessed this in a company recently. Their entire goal is to reach a certain revenue point through acquisition and maintain a certain profit margin. As they acquire these companies the managers wage is based on providing a certain profit margin. I have witnessed a very successful company with stellar customer service just fall apart and organic growth come to a halt. But the company continues to grow through acquisition. Unfortunately, the employees are less happy as well as the customers.