• The six habits of highly effective businesses

The six habits of highly effective businesses

Business growth does not come of its own accord. So what does it take to build a successful business? While it is fair to say there is no magic ingredient that can guarantee success in every venture, it is also reasonable to expect fast-growing companies to share certain characteristics.

At BDO, we understand this. Whether you are an SME, an emerging business or a high growth organisation, if you’re looking for advisers who will help you grow your business, BDODrive can help.

Here, we provide companies with a tailored advisory service that can grow with your business. It’s not just about offering compliance or accounting services - we aim to understand you and your business’ goals and objectives, and use our experience to help advise you.

In fact, through helping other businesses’, we’ve found there are some very specific traits and opportunities that highly effective companies exhibit. They are:

  1. Have a clear road map, but stay flexible
  2. Invest in technology and innovation
  3. Collaborate with business experts
  4. Focus on sales growth
  5. Recruit the right team
  6. Commit to improving financial literacy

We have identified these patterns as ‘The six habits of highly effective businesses’. The following explains why these habits are essential to growth and how successful businesses use each one to their advantage.