The 4 Pillars of Business (2023)

The 4 Pillars of Business (2)

Anthony Flynn The 4 Pillars of Business (3)

Anthony Flynn

Board Member at Fast Company Executive Board

Published Jan 21, 2020

Are you leaving your 9-5 and entering the world of entrepreneurship? Do you not come from a business background and feel confused about how to start? Do you need to learn the basic pillars of business?

Amazing CEO is a business consulting firm that accelerates CEOs and Key Executives to start and scale new businesses. We help entrepreneurs across the country to expand their business. Every business needs a handle on the four pillars of business: management, marketing, operations and finance.

If you are feeling overwhelmed, let’s take it step-by-step. Entering into entrepreneurship can be frightening, but you will be okay if you follow a roadmap for success. Trust me, I’ve started multiple organizations and scaled numerous others. They all need to be built upon these core pillars.

Don’t become so overwhelmed with everything you need to do that you get stuck in analysis paralysis. Entrepreneurship is hard, but it’s not impossible. Businessman and author Peter Drucker once said, “Whenever you see a successful business, someone once made a courageous decision.” What’s required of you is to keep learning and practice what you have learned. There is no timeline to follow but your own.

To create and run a successful business, you need to know the needs of your customer and serve them better than others in your market. Here’s what you need to consider for each pillar:

  1. Management. How will you handle the process of serving your customer? How are customers getting in contact with you? What services/products are they purchasing? How can you ensure that they are receiving everything they are expecting? You need to manage the customer journey of your business.
  2. Marketing. How will new customers find you? What digital marketing assets are you using to establish your brand? What local community collaborations are you making to spread news of your business? You need to market your business to find new customers and keep your sales pipeline full.
  3. Operations. How will you deliver the services/products to your customers? If you have a team, how will you all work together as a team to deliver services/products? What tools, technologies and systems do you need in place to run a successful operation?
  4. Finance. How will you keep track of your finances? How will you price your services? How will you bill your clients? For me, I use QuickBooks to keep track of all of my finances and send invoices. You will want to use a business account for your business and keep these finances separate from your personal accounts. Trust me, the sooner you get organized here the better prepared you will be when tax season comes around.

Ensure you have each of these pillars covered. Otherwise, find someone who is talented in that sector and hire them to help you. What questions do you have about The 4 Pillars of Business? Ask me a question in the comments below. For more business tips and strategies, read The Execution Pipeline: A Step-By-Step Guide To Moving Your Business From Idea To Reality here.

The 4 Pillars of Business (13)

The 4 Pillars of Business (14)

Wow! As a young adult just learning about business this is very useful information to me. 😁

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(Video) What are the four pillars of business success?

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Nice. It's presented precisely.

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