Chamber of Commerce column

Longevity of business in Taos

By Susan Cady
For The Taos News
Posted 3/13/19

We are fortunate to have many businesses in Taos that have generational longevity such as Friday Motors, Randall Lumber & Hardware, Cid's Food Market and Centinel Bank of Taos. All of these …

You have exceeded your story limit for this 30-day period.

Please log in to continue

Log in
Chamber of Commerce column

Longevity of business in Taos

Posted

We are fortunate to have many businesses in Taos that have generational longevity such as Friday Motors, Randall Lumber & Hardware, Cid's Food Market and Centinel Bank of Taos. All of these businesses have similar business ethos and ethics that allow them to thrive decade after decade.

Some of the characteristics they have include embracing integrity as critical in dealings with clients and customers as well as within the organization. A clear understanding of being true to your mission and always striving to be the best within your niche helps maintain your reputation in the community. Knowing that you are in business for the long term, assisting clients in making the right decisions for their long-term benefit, rather than short-term profits, will bring returning customers and many referrals. Hiring good quality people and investing in their continued success will help them be great representatives of your brand.

Successful executives and entrepreneurs prepare for success on an ongoing basis, not just when they are in start-up mode. They move beyond their initial business plan to augment their success by leveraging new opportunities and seeking ideas to enhance operations and profitability.

They are disciplined in the habit of writing down their plans, reviewing them and sharing with their essential employees and advisors. They know that ongoing planning for the future, for the inevitable transition, keeps them focused and moving forward. These leaders continually, and formally, evaluate what is working and what needs to be changed.

Fiscal discipline is fundamental to long-term business or enterprise success. Yet, only a few leaders have the self-discipline to manage their cash flow for the inevitable peaks and valleys. They respond to immediate pressures and spend money they don't have.

Too many leaders waste money on flashy projects, trying to impress people. They never prepare for the future because they're focused on living in the moment. Some make ill-advised decisions that create financial crises rather than making prudent commitments they can realistically handle. Successful leaders of enduring enterprises focus on building real net worth by mastering financial discipline and tightly controlling what they spend.

Markets change and technology advances. Those business leaders who are successful over the long term understand and adapt to change. They invest in people and technology to enhance productivity. They stay on top of competitors and respond as necessary. By continually adapting, they are able to leverage emerging trends and long-term evolutions that are fundamentally transforming their industries.

Enduring leaders create enterprises that last well beyond their own tenure, always looking ahead to identify people, tools, resources, ideas and technology that can enhance their organizational success.

Contact the TCCC at taoschamber.com, (575) 751-8800 or email susan@taoschamber.com. The Taos County Chamber of Commerce is a nonprofit organization devoted to promoting local businesses.

Comments


Private mode detected!

In order to read our site, please exit private/incognito mode or log in to continue.