5 Functions of a Business

Did you realize there are 5 main functions of any small business, and successful businesses figure out how to grow the five areas sequentially over time.  

Function 1: Marketing
The first function of a business is marketing. It does no good to open the doors to your business if you do not have clients walking through them.  Marketing means finding people to talk to and narrowing down your target audience to ensure the time you are spending is spent talking to people who will actually need the services you offer.

Function 2: Sales
Businesses often get so excited by the “success” of our marketing because we see that we have managed to talk to a large list of people (called leads).  But until we are able to move those leads into actual people purchasing our products (sales) our business will get out of whack. Often times we confuse sales with marketing.  It doesn’t matter how many people you talk to if the message (marketing) is not converting those people into clients (sales).

Function 3: Leadership & Team Development
As you grow your business, you will no doubt have to expand your team. Developing the right team can be challenging (and sometimes it may feel as though you are continually hiring for certain positions). It is important for you to understand that as a leader within your small business, your team’s ability will only be able to rise to the level you are able to lead them under.

If you are the owner, it is equally as important to realize that until you hire a team to help you with tasks, your ability to grow your business will also be hindered.

Function 4: Customer Delight
Accomplishing the first 3 functions does nothing for your business if you are unable to provide great customer service.  One of the questions I challenge you to ask yourself is this, “What can we do to continually surprise our customers and surpass their expectations that is different from what our competition is doing?”  Mastering “Customer Delight” is a crucial part of finding success in business.

Function 5: Technology
Finally, we live in an era of technology. Clients expect your business to be modern. From implementing ways for clients to pay bills online to communicating across social channels and navigating the complex world of SEO and online advertising, technology plays a critical role in the success of small business.

If you find yourself struggling in your business, you haven’t mastered all five of these functions.  If you need help, contact  Mended Marketing for a free 30 minute consultation.

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