Success in Business is measured by how well an entity
identifies a need in the market and channels its efforts towards
satisfying that need. The amount of profits the entity rakes in from its
efforts do not measure success but the level of appreciation from
people it has helped solve a need.
In satisfying a need, a business is a stepping stone. It
seeks to help as opposed to making profits. If people feel that they
can benefit from associating with a particular entity, they will bring
money to that entity
The first person to open a Supermarket in your town, for
instance, saw a problem. He ( in reference to both genders) must have
noticed that the residents of your town were hopping from one shop to
another looking for different kinds of supplies. He observed people
check into a grocery to buy fresh foods then moving on to another shop to
buy non-perishable goods and finally into a bookshop to buy books for
their kids. The shops were probably few, far-apart and poorly stocked.
The problem he identified was that residents spent a lot
of time and energy on shopping. Time that would have been spent working
or commuting from town to their homes.
This entrepreneur decided to invest in a supermarket
where he stocked all these goods under one roof. By so doing he solved
the problem. Now residents could do all their shopping in one place.
Eventually they flocked into his supermarket and brought with them a lot
of money.
This is the constitution of success across all
successful businesses. APPLE Inc, the makers of iPhone, was the first
company to create and launch a smartphone under the stewardship of the
late Steve Jobs. Before the iPhone, mobile phones were mostly used for
voice communication. Then Steve Jobs identified a gap in the market.
People wanted mobile phones to do more for them.
Mobile phone users had become increasingly sophisticated
and they longed for a phone that would make both their work and social
lives easy. Jobs and his team sought to build a phone that would make
work and play seamless. They developed a phone that supports
computer applications. In the process, they made it possible for users
to load applications according to their work and play needs. The iPhone
was born and it managed to solve all the problems as envisioned. Since
then, APPLE Inc. has been growing from strength to strength.
Successful businesses remain so until another entity
comes up with a better way of solving the same need. In most cases, the
new entrant spots a gap in the way the Pioneer business is providing
goods and services. Such a gap might exist in the form of high and
exaggerated prices or rude and unhelpful staff. If the new entrant knows
how to solve this problem effectively then people will shift their
loyalty to the new business.