According to an article in the Harvard Business Journal, all business growth and profitability is dependent on identifying and improving "critical success factors (CSF)."

Critical success factors are specific to each individual business, according to the article, and a weakness in any one of the CSFs is "critical" to the overall strength of the business.

You are encouraged to take the time to identify the CSFs of your business. According to the article, there are usually 5 to 7 CSFs for any business.

Use this example of the CSFs of "selling" to help you get started.

Keep in mind that all business is involved in selling, so you may want to have two lists - one for selling and one unique to your business.

The first CSF in selling is FINDING PROSPECTS. You must identify true prospective buyers who can make the purchase decision.

Number two is GETTING APPOINTMENTS. Setting a time and place to discuss business is crucial.

Number three is LISTENING. You want the prospect to tell you his or her problem or frustration before you start selling.

Number four is IDENTIFYING THE PROBLEM. This is where you get specific. Renting a stall is not specific... a 16X16 with outdoor access and straw bedding is specific. Buying a Quarter Horse is not specific... a 10-year-old gelding, gray, is specific.

Number 5 is OFFERING THE SOLUTION. This is when you tell the prospect why you, the horse, the training, the box stall will remove the problem and eliminate the frustration.

Number 6 is GETTING AGREEMENT TO PROCEED. This is asking for the order, transferring the check, reserving the stall.

Once you have identified the CSFs of your business, evaluate your performance at each. Do the same with your performance at selling.

On a scale of 1 to 10 you should be scoring a 7 or better. The lowest rating given sets the standard achievement level for your business. For example, if you rate yourself a 5 for FINDING PROSPECTS... then your business can only be successful to the 5 level.

The strength of anything is its weakest link.

Your job is to bring all the CSFs to the level of 10. Difficult; maybe impossible, but "critical" to making your business stronger and more profitable.

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