The success of your business hinges on factor after factor. How's the national economy doing? Or China's or the global economy for that matter? How are various commodity markets affecting your margins? What's the impact of different currency fluctuations? How's the health of the industry you play in? How potent and versatile is your competition? Are new regulations causing your company to slide or thrive? How much skilled labor is swimming around in the job talent pool? What's going on in the lives of your staff? The common denominator in all of these dynamics is that they largely exist outside of your control.
But that doesn't mean you should throw your hands up in the air and surrender to a fatalist mindset. Because there is one aspect that you can control and it's the most important factor of all: your products. No matter what's transpiring in the world around you, you always have the ability to focus on your product offering and strive to make it the best of its kind. It starts with having a guiding plan to make sure every action is helping progress toward your goals. Next, you have to listen to your customers' feedback and fine tune your product to meet their needs. Finally, your company should create a culture of open communication where every message both internally and externally is dispersed clearly and with purpose true to your reason for being.
With all of the elements affecting your business where you cannot inflict your will, you must take every measure to influence the ones you can. A meticulous focus on your product will give your organization its best chance in an environment fogged by so many unknowns.
Read more from Entrepreneur Magazine on Building a Great Product-Focused Organization.