May 15, 2013

Notion’s Top Ten indicators of a winning business

Ten things we really like to see in a business that suggests that it is here to stay and has the potential to really shake up its market are as follows:

  1. Crystal Clear Vision
    In a single sentence be able to describe what the company’s purpose is.
  2. Make the Customer Look Good
    Ensure that your product or service really solves a problem or alleviates pain in a way that makes the customer look good and ultimately contributes to the success of their business.
  3. Fresh Thinking
    Always try to challenge conventional thinking and find new and better ways of doing things. Larger companies iterate forwards in small and slow steps – try to look at things with a fresh perspective and take bigger and bolder steps.
  4. A Fast Growing Market
    Operate in a market that is growing rapidly and where the fundamentals of the market are evolving through changing trends, technologies, legislation, events etc.
  5. Customers
    Know exactly who your customers are and ensure that your company’s proposition matches up with their priorities and business drivers such that they will be a loyal customer and be prepared to pay a premium for your product or service.
  6. Speed
    Speed is an advantage that a smaller company must make count against its larger competitors. Always try to reach decisions, don’t waste time in meetings and involve as few a people as possible in all activities that are not client facing.
  7. Lean and Mean
    Maintain a lean cost base and question every penny going out of the door and discard anything that cannot be accounted for.
  8. Stay Focused
    Always try to stay focused on your core product and keep your proposition simple – customers don’t like anything that is difficult to explain or understand. You should be able to say quickly and confidently why a customer should buy your product and not someone else’s.
  9. Have Fun
    We believe that to perform at your best business should be fun and companies need to invest in this area in a wide range of ways both large and small.
  10. Hire the Best
    It is better to do nothing than to hire the wrong person. And it’s better to have fewer more highly paid people. This is especially important in the early stages of a businesses development when the early hires will set the tone for everybody that follows.

If you think you have a great idea or a great business and think that Notion could help to unlock its full potential you can reach us directly or through someone we both know which we think is the best approach. To contact us directly we recommend you approach the partner you think would be the best matched for your business via email or LinkedIn. You can also send through a brief teaser or deck here.

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Jos White

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