1. The Law of Purpose: The purpose of a business is to create and keep a customer.
2. The Law of Organization: A business organization is a group of people brought together for the common purpose of creating and keeping customers.
3. The Law of Customer Satisfaction: The customer is always right.
4. The Law of the Customer: The customer always acts to satisfy his or her interests by seeking the very most and best at the very lowest possible price.
5. The Law of Quality: The customer demands the very highest quality for the very lowest price.
6. The Law of Obsolescence: Whatever is, is already becoming obsolete.
7. The Law of Innovation: All breakthroughs in business come from innovation, from offering something better, cheaper, faster, newer or more efficient in the current marketplace.
8. The Law of Critical Success Factors: Every business has a number of critical success factors, which measure and determine the success or failure of the organization.
9. The Law of the Market: The market is where buyers and sellers meet to set prices and determine the allocation of money, labor, materials and all factors of production.
10. The Law of Specialization: To succeed in a competitive marketplace, a product or service must be specialized to perform a specific function and be excellent at satisfying a clearly defined need of the customer.
11. The Law of Differentiation: A product or service must have a competitive advantage or an area of excellence that enables it to stand out from its competitors in some way if it is to succeed in a competitive marketplace.
12. The Law of Segmentation: Companies must target specific customer groups or market segments if they are to achieve significant sales.
by Brian Tracy
Published by The Virtual Assistant; ©2012 VSA, LP