Over the years we have observed that while many businesses are surviving, some exemplify the model everyone else strives to be. Here is a list of characteristics we see separating the “Thrivers” from the survivors.    

Sales & Marketing

• Create value for customers by solving problems
• Provide information to customers along with the product or service
• Know and capitalize on their competitive advantage
• Diversify products and customers
• Alert to new ideas, trends, competitors and technology
• Calculated response to select opportunities.

Finance & Administration

• Timely internal information.
• In-depth knowledge of costs.
• Understand the relative profit contribution of different jobs, products and customers.
• Projections and other metrics used to determine need for corrective action.
• Understand impact of decisions on cash and profits.

General Management

• Maintain a long range strategic perspective.
• Embrace the concept of continuous improvement.
• Willingness to take calculated risks.
• Attract and retain good people - Hire smart then empower.
• Decisive leaders who set the expectation for success.
• Able to react quickly to problems, opportunities and changing conditions.
• Foster a sense of partnership with customers, suppliers and other stakeholders.

Not every “thriving” company will exhibit all of these characteristics and I am sure there are a few that we have missed. However, I am confident a company that follows this road map will meet with success.