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Characteristics Of Great Businesses

    1. Consistency

    2. Various products

    3. Business structure

    Financial department

    Operations

    Research and Development

    Executives

    Human Resources

    4. Growth

    The best businesses continue to grow over time

    5. Focus on the customer

    Who are you serving? How can you serve more people and more needs of your existing customers?

    6. Experiments

    Amazon just purchased a medical clinic business. Will their push into healthcare work? Or be a dud like their phone?

    I don't know, but I like that they are continuing to experimenting

    7. Adoption of technology

    The more tech a business adopts the faster it will grow and be more efficient.

    8. Founder led

    Not always, but founder businesses or founder once removed tend to the best.

    Once the founder is gone you run into problems: Walmart, McDonalds

    9. Good times and bad

    Great business perform in both good times and hard times.

    No business is immune to the macro economic conditions, but some have become so essential that people continue to use that business in bad times.

    10. Brand

    Great businesses create a great brand that people know and recognize.

    There are a lot of great small businesses that will never become Coca-Cola, but the best businesses seem to create an aura around themselves that gives it an edge in the mind of consumers.

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