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:
- 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.
- 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.
- 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?
- 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.
Wow! As a young adult just learning about business this is very useful information to me. 😁
Nice. It's presented precisely.
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What are the 4 pillars of a business? ›
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You will learn the four pillars of management: planning, organizing, directing, and controlling, and learn how to apply them to turn wishes, dreams, and ideas into reality.What are pillars in a business? ›
Brand pillars are the values and characteristics that make up your brand. Your brand should be about how you communicate your message to the world. Brand pillars help you do that by defining the fundamental points that set your company apart from your competitors.What does 4 pillars mean? ›
The 4 pillars of meaning
In her book, Smith divides the quest for meaning into four pillars: belonging, purpose, storytelling, and transcendence. Belonging defines a connection to a larger community. Forging and sustaining relationships is how we increase this connection, which in turn makes our lives feel meaningful.
The Four Pillars of Destiny, as known as "Ba-Zi", which means "eight characters" or "eight words" in Chinese, is a Chinese astrological concept that a person's destiny or fate can be divined by the two sexagenary cycle characters assigned to their birth year, month, day, and hour.What is the 4th pillar and what is its meaning? ›
Sawm, fasting during the holy month of Ramadan, is the fourth pillar of Islam. Ordained in the Holy Qur'an, the fast is an act of deep personal worship in which Muslims seek a richer perception of God. Fasting is also an exercise in self-control whereby one's sensitivity is heightened to the sufferings of the poor.What are the 4 most important pillars of successful team management? ›
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- Management. Management involves the planning part of your role. ...
- Communication. Communication involves meaningful interactions between staff and with customers. ...
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- Sales & Marketing is responsible for driving the revenue. From creating a marketing strategy, to making the actual sales, all the way through closing the deal.
- Operations & Fulfillment is what you do for your customers or clients. ...
- Finance is the fuel that ensures that your business runs.
How can the four pillars transform a business? ›
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Introducing the four pillars of sustainability; Human, Social, Economic and Environmental.Who created the four pillars? ›
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- Persistence (Without Exception) ...
- Influence. ...
- Coaching. ...
- Having a Personal Mission Statement. ...
- Belief. ...
- Goal Setting.
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