Principles, Tools

and Techniques
in Creating a
Business

LESSON 1
“A culture of discipline
is not a principle of
business; it is a principle of
greatness.”

Jim Collins
2
 Business
• To start a new business, an
entrepreneurs needs to have a plan
to start a business, as one of the
best practice entrepreneurs to
identify needs of the community to
start a business.
• In planning a business, a thorough
study needs to be made from the
creation of business.
Understanding how the business
will operate and co-exists in the
business world thus one needs to
study principle, tools and
techniques in creating business
3
 Principles in Creating a Business

The principles of a business are the driving

forces that make it successful. Below the ten key
principles to make a business a success:
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Scalability
A business must be scalable for
it to be successful. Scalability
is the capability of a company
to sustain or improve its
performance in terms of
profitability or efficiency when
its sales volume increases.
Big Ideas

A business is no more
effective than the idea upon
which it is built. Business
creates its own plan to expand
its economic growth.
Systems

A business is a system in
which all parts contribute to
the success or failure of the
whole. In this system,
everything must work together
from employee to president;
from equipment to resources.
Sustainability
A business must be dynamic-
able to thrive through all
economic conditions, in all
markets, providing meaningful
highly differentiated results to
all of its customers. Such
differentiation is the key to
survival.
Growth
Growth is essential in
business. Without continued
growth, operations will
stagnate. This can result in
lowered standards of quality
for products or services,
decreased customer service,
and poor employee morale
Vision

A business must manifest the

higher purpose upon which it
wasseeded, the vision it was
meant to exemplify, the mission
it was intended to fulfil.
Purpose

A business is the fruit of a

Higher Aim in the mind of the
personwho conceived it.
Autonomy

A business is not part of the

owner's life, but is, in fact,
its ownentity.
Profitability

A business is an economic
entity, driving an economic
reality,creating an economic
certainty for the communities
in which it thrives.
Standards

A business creates a standard

against which all businesses
are measured as either
successful, or not