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Apr
The 5 Elements of a Successful Business

The 5 Elements of a Successful Business

Vision

From day one, Steve Jobs’ vision sparked innovations that made Apple an icon, not just in the business world but in the everyday lives of a large part of the global population. Consumers around the world recognize the brand and rely on the technology. Jobs didn’t just look at the device in his hand and think small. He created a path toward true innovation that we all rely on today. Is this type of global vision required for, say, a local mom and pop shop? Of course not, but big-picture thinking is. Before starting your healthy vending business, it’s essential to think about your vision and how it will benefit both your customers and your bottom line.

Customer Service

These days, people are extremely conscious of how and where they’re spending their hard-earned dollars, so it’s important that they feel like their choice to give you their business is valued. Excellent customer service leads to customer satisfaction. Even the most unhappy customer can be soothed by swift and friendly resolution. It’s easy to get caught up in the day-to-day stresses of running a business, even one as entrepreneur friendly as Healthy YOU Vending, but equally important to keep your focus on the very reason you’re in business: your customers. Nine times out of 10, a customer-centric approach will benefit your reputation and help make your business even more successful.

Satisfied Employees

Employees play an essential role in the success of any business—and the happier they are, the better it is for everyone. Most successful businesses take steps to ensure their employees enjoy a variety of perks, whether that’s competitive pay, health benefits, a flexible work schedule, a well-stocked breakroom or a collaborative environment where employees feel empowered to speak up and take ownership. Creating an enjoyable company culture, combined with top pay and benefits, can go a long way toward retaining talent. While a healthy vending business can be run without employees, it’s important to keep these values in mind as your business grows.

Management

The saying “Employees don’t leave companies, they leave managers” is a cliché for a reason. A 2018 Udemy study found that nearly half of employees surveyed had quit a job because of poor management. That’s why it’s important to place the right people in managerial positions. No amount of pay or perks can compensate for an unhealthy environment fostered by a bad manager. Even a manager that makes strategic business and financial decisions can be considered a poor leader if they foster the wrong environment in the workplace. From the top down, successful businesses go above and beyond to provide good managers.

Value

Perceived value is the idea that a product or service satisfies a customer’s needs or wants, at a price point that seems reasonable in comparison. Ounce for ounce, a customer may be willing to pay more for a healthier snack compared to junk food, because of the overall health benefits. Going above and beyond by talking to management and employees at your vending machine locations can actually provide additional value to your healthy vending offerings.

Learn more about how to start and run a successful healthy vending business at Healthy YOU Vending.

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