Four characteristics of a good business are competent leadership, financial literacy, effective skill development and a professional work environment. Businesses that possess these four characteristics attract talented employees, loyal customers and investment partners.
A good business begins with competent leadership. Effective leaders are engaged and results-oriented and inspire better performance from those whom they lead. Competent leaders ensure structures and systems are in place that maximize employee throughput. Additionally, effective leaders are financially literate and understand market demands, sound investment, overhead management and how to negotiate for products, services and labor. This financial literacy ensures the business has the cash and resources to profit and expand.
A good business also succeeds in developing the skills and talents of its employees. Training and education are provided to those who need it. A good business knows that talent and hard work are its greatest commodities and ultimately drive customer satisfaction and profit growth. Consequently, a good business also promotes a professional work environment that is safe, comfortable and free of distraction to ensure that employees are given every opportunity to succeed.