TOCH is an emerging start-up company which seeks to provide a futuristic approach to online shopping, uses its AI video platform in meta tagging for live sporting events, live shows and librarybased content for streaming platforms. The features include auto detection of any object, person, emotion, location, scene and activity in real-time, inside any video content.
Aspects of a future in any business could be decided based on the following factors:
Competition: Competition is an inevitable part of the business. It helps the company to push its limits and create new milestones. If we take competition positively then it can prove to be an effective tool in growing and improving your business. If there is competition in the market it means there are varied options available for the consumer and if your product appeals to a consumer it signifies that your consumer is happy with the quality of your products and services.
Ethics: This is the most integral part of any business. Ethics reflects the principles and values as the base on which a business foundation is built on. Business ethics helps a company to attract employees, customers and investors. Following business ethics helps a company in building a relationship of trust between the employees and management. A set of guidelines or ethics helps a company in building up a good reputation which can be helpful for hem in various ways such as:
- It helps in getting support from customers and other companies
- It helps in getting investors to help your business grow
- It helps in getting recognition in the industry
Example of a good business leader behaviour would involve: Spending a little time on self-analysis which will direct some of our key personnel decisions daily.
Three questions which you should ask yourself: can be helpful for them in various ways such as:
Where are we heading?
Every company wants to have a crystal-clear idea in their mind regarding
(i) Where they are headed in their business?
(ii) What are going to be their steps forward for growth of their business?
(iii) Have a transparent insight of your company and its performance in the long term.
Who’s going with you?
It’s important to look for people who are interested in your goal and vision as much as you are. A company is always looking for high potential employees, people who have been willing to participate in new projects or responsibilities, those who take up the charge during crisis and likewise. One must brief their employees about the significant part of their personal business goals, the company’s goals, and how it will come true. How? List the employees you’d like to talk to and set up a meeting with each one of them.
How will you get there?
Employees of your company are the ones who has the potential to take your company on a higher level, hence it is necessary to keep them motivated and hungry for growth. For this, a company employee’s growth holds more value than skill-specific training which is why a business leader should encourage his/her people to take the lead. Involvement of mentors and coaches, both inside and outside the company will ensure that your employees receive input from varied resources.
How to get your business going?
Basically, there are three steps in a business cycle:
(i) Starting a Business
(ii) Ensuring smooth functioning of your business
(iii) This one is the most difficult one which is growing your business and taking steps for the growth of the company to larger extent.
Once you have a running business then comes the growth part in which you must ensure that you are clear regarding objectives, strategies and actions plans which will pave the growth path for your company. Growing your business for it to reach and attract a number of customers are one of the most important and tedious parts for a business organisation because this is the part when you must know your target audience, understand your organisation’s financial situation as well as gathering support from investors. These are pivotal steps for growth as they are going to decide the future of your company. If you manage to fill out all the points correctly then it will help you to ensure a bright future for your company as well as your employees.
A company can achieve so much more when there is a solid support system and employees whom you can trust and rely on. No matter how capable you are, if you are alone you might not achieve what a great team can. Treat your employees right and they will make your dream their own!