The Three Things Every Business Needs to Build

Business Model Consistency

If you were to sit in a busy cafe in a major city anywhere around the world, you could marvel for hours at the variety of people that pass you by. One can easily assume – and you would be right – that no two individuals are the same. But there is a common thread. We have our genes, we have our biological features (eg eyes, ears, arms, legs) and we have our outward appearance of similar haircuts, clothes and even walking styles. We’re all different and all the same.

The same could be said about the businesses in the world – they are all so different but also all the same relying on a consistent thread of elements for being successful.

Three Essential Elements of Business Success

At a simple level, there are three essential elements that need to be built in every single business.

For many business people, they only focus on one of these: money. While this might provide short term results, in today’s Idea Economy and Social Media world, a sole focus on money is not enough.

As Peter Drucker famously said, that a business only exists to service a customer. And this provides us with our second business essential – we need social capital – a community of fans, followers, customers and clients.

Thirdly, as the literal example of a Thought Leader shows, we also need ideas and intellectual capital. We talked about this more here in the post, How to become a Thought Leader.

These three types of capital become our essentials – money or financial capital, people or social capital and ideas or intellectual capital.

In this slideshow from our recent webinar you’ll learn:
• The three things every business needs to build
• How to combine all three into a single focus
• A simple plan for turning your hyperfocus into reality