Knowledge Base - Best Practices

Thrivers Vs Survivors

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.