Thread by @basilokpara

Hello folks, let’s do this thread on the 3 Ps in business.

People.
Products.
Process.

These are fundamentals in business and you should consider the importance of mastering them very well.

Doing business is really not very difficult if you know the fundamentals.

Business starts from an idea by an individual. You have this idea to invent something new or to innovate on something that already exists.

You begin to think of the right PEOPLE to help you achieve your vision. You do not need just anyone in your business,

You need the right people.

Now how do you know the right people?

You need people who are motivated, passionate and very talented. People who are skilled or trained in specific tasks that will help you achieve your targets.

Talent goes with skills and training.

You do not need to consider people based on your relationship with them. You need to be focused, ruthless and never sentimental is picking the right people/team to work with you.

Like in a football team, you need talented, passionate, motivated and skillful people.

Products.

This refers to what you are known for...the product or services you proffer. The value you offer which people are willing to pay for.

Now, in considering the product, you must consider what the market needs. Do not look for products and start looking for the market,

Get a starved market and look for a products for it. Every product must be tailored for specific needs. Every product or service must be a solution.

Do not be more focused on money, focus on meeting specific needs and money will follow you.

Now when you have the product, you and your PEOPLE/team will consider how to package your PRODUCT/service, how to price it, how to market it/advertise it and how to deliver the product and services.

Exceptional products and services are so vital to the success of your biz.

The Process.

This refers to all the mechanisms that’s needed to achieve your vision. You could have the talented people and product and still get stuck because of a lack of understanding of the process that’s required.

Here, you must have critical planning.

You must work out your operational procedures, how your business operates, the system that’s entrenched to run your business, how to raise the money you need, how to build and structure your business, how to manage your cash flow, how to market your products/services,

How to manage feedbacks and innovate, how to handle documentations.

There is a process to everything in life and that includes business. Nothing happens by chance. Every success you see if a result of carefully worked process.

Never understand the importance of these 3 Ps.

You do not achieve success by praying. You do not get rich by praying.

You achieve success by following the principles. Knowing what to do, applying the right information at the right time.

I hope you’ve been able to learn something here.

Leave your comments and retweet.

Thank you for reading and follow me @basilokpara and drop any questions you have. I’ll do my best to answer.

Have a great week.