Building for Prosperity: Unveiling the Key Factors for Long-Term Success || HL COMMUNITY HANGOUT

11 months ago

Two weeks ago, I hosted a hangout, which I do every Monday 4 pm GMT, titled Building for Prosperity and I gave out this short message on the topic:

In today's competitive market, it is difficult to establish and sustain a successful business or organisation. It requires a lot of process, which involves planning, careful decision-making, and a lot of factors. Our discussion today will explore the necessary values needed for the prosperity of an organisation. From having a great leadership structure to active team collaboration to the collection of innovative ideas to thriving through challenges and providing solutions to them, we would dwell on the factors that contribute to long-term success. Kindly join us as we share our thoughts, experiences, and insights on building and nurturing thriving initiatives.

What do you believe is the single most crucial factor that differentiates successful businesses/organizations from those that struggle to thrive? How does this factor impact their overall trajectory?

In your experience, what specific strategies or practices have proven effective in building and sustaining a prosperous business/organization? Can you share any examples or stories that highlight their significance?

Building for Prosperity.jpg

I had the opportunity to have a very interesting conversation with a few persons on this topic and was impacted by their thoughts. Here are some highlights got from the discussion:

@starstrings01 it is important that businesses should try to retain the quality of their goods no matter the changes in prices that occur. [Time stamp: 06:28]

@jjmusa2004 A crucial factor is understanding the market, knowing what the consumers want and what you can offer. Building on what you want to deliver, have a physical business plan and not a mental business plan. Considering other factors is not just about understanding the market but also considering a lot of factors which include your delivery, and your employees: do they have the same vision you have for the business as you do as an employer? [Time stamp: 10:45]

@kenechukwu97 also said that knowing what you are there to offer. His point took a different angle by suggesting knowing what people need is not enough but the value we ourselves are capable of offering. Being able to continue giving quality is something most companies lack and over time you see their quality reduces. [Time stamp: 21:00]

@sekan no matter what you are doing, try to be different and be unique as you are not the only one that does the business. Try to make yourself innovative and unique. [Time stamp: 21:28]

@nwothini335 Insight, your insight determines whether your business would be successful. Hard work, Smartwork, Insight, and self-motivation when feeling demotivated. [Time stamp: 34:30]

These are just short excerpt of what was discussed in the hangout. Listen to the recording to have a full experience of the discussion.

So what are your thoughts on the question that was asked? Feel free to leave your comments below

𝙰𝙱𝙾𝚄𝚃 𝚃𝙷𝙴 𝙰𝚄𝚃𝙷𝙾𝚁

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_{Starstrings01, also known as Giftedhands, attends the Federal University of Agriculture in Abeokuta to study mechatronics engineering. He is a lover of the hive, a guitarist from Nigeria, and a student.}

_{His ambition on Hive is to be more than just an ordinary blogger; he wants to be someone with a purpose. That's why he started the newbies initiative @newbies-hive to help guide and support newbies. Please follow the @newbies-hive curation trail by clicking here.}

_{He tries to juggle education with being active on the chain, but his love and passion for Hive keep him on track..}

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