The success story of Elijah Norton and Veritas Global Protection has been told many times over. Veritas Global Protection has grown fast to become a global brand in the auto service contracts industry. Recently, the company has been striking deals with partners in Europe to expand its reach. Veritas also serves clients throughout North America and South and Central America.
Within a few years, Veritas has grown from being a company with just two employees to having dozens of employees and almost $100 million in annual revenue. The company now has thousands of partners spread out throughout the country. This can all be attributed to the revolutionary leadership style of Elijah Norton, the company’s founder and CEO.
Elijah Norton’s Success Story
The auto service contracts industry was much different before Veritas was established. Consumers were at the mercy of service providers, and the plans they purchased did not offer much in terms of coverage. That’s why many people still think that vehicle protection plans are unnecessary, especially if they already have a manufacturer’s warranty.
The truth, however, is that manufacturer warranties usually expire, and they also have some gaps in coverage. The only way to ensure you’re completely covered is to purchase a vehicle service contract that fills the gaps in coverage.
Elijah Norton and Veritas Global Protection are known for their innovative plans, including the electric vehicle protection plan and the exotic vehicle protection plan. These are innovative plans that were hailed as revolutionary when they were launched.
In addition to these plans, Elijah Norton also assembled a team of customer support staff that was not only competent but also responsive and available 24/7. This was meant to ensure the needs of clients, partners, and members of the public were addressed without any delays. The award-winning customer service of Veritas Global Protection is one of the reasons why the company is considered an industry leader.
After experiencing immense success in the industry, Elijah Norton is giving back to the community by offering advice to young entrepreneurs. The business executive and entrepreneur understands that many entrepreneurs are struggling with their startups.
Elijah Norton’s advice he gave in an interview with him helps young entrepreneurs know what they need to do to succeed. Below are some of the tips offered by Elijah Norton in his interview:
1. Make a Business Plan
The most important thing that every business leader must have is a business plan. The plan must specify the direction the company should take, its business goals, and the strategy to be used. Without a business plan, it would be easy to go off-track.
The business plan should be well-written, and copies given to shareholders. The business plan is essential for purposes of accountability. Having a business consultant look at your business plan and help you refine it may be a good idea.
2. Hire the Right Staff
To achieve success, you need to have an award-winning team. Your employees can break or make your business. This is because they are in direct contact with your customers, so if they fail to offer exceptional customer service, they’ll chase away customers.
Only customers who are willing to go the extra mile to serve your customers should be retained. The ideal team should also embrace diversity and other community values. This is because you want to attract all kinds of customers to your business.
3. Have Patience
Patience and perseverance are essential in business. This is because business success is a journey, so you should embrace the process. You are not going to become an overnight success, so be sure to exercise patience.
It usually takes 3-5 years for a startup to achieve success. Therefore, you should give your business at least five years before you can decide to call it quits. Every company has challenges, so entrepreneurs also need to persevere and work hard to overcome those challenges.
4. Customer Service is Everything
If there is one thing that entrepreneurs should take from the Elijah Norton success story, it’s that customer service is important. Happy customers usually come back for more, usually with their friends, relatives, and neighbors.
Therefore, you should always treat your customers well. Be forthcoming with information and always be responsive. This is what will help you win over customers.
5. Be Innovative
Innovation is crucial in business. Without innovation, a business may find itself becoming obsolete. Innovation is the process of coming up with new products or services. Innovation can also be described as the process of improving a product or service.
It requires business leaders and entrepreneurs to identify gaps in the industry and seek to fill them. Innovation can help entrepreneurs win over customers and create a loyal customer base. This is the key to business success.
6. Set Financial Goals
Many entrepreneurs usually make the mistake of pumping all their money into a startup for a long time. This should not be the case. At some point, this should stop.
A business should be able to sustain itself. That is why having financial goals is crucial.
You may want to consider changing tactics if you do not meet your goals after following a well-laid-out plan. You do not want to be forced into bankruptcy by your business. By adjusting prices, you may be able to generate additional income that can make your business more sustainable.
7. Deploy Powerful Tools
The business landscape is always changing because of technology. To get an edge over the competition, therefore, you must deploy powerful tools. Be sure to use mobile apps, web apps, and other types of digital solutions in your business.
This will not only improve the efficiency of your business but also make you an industry leader. Be sure to scan the industry for the best tools to deploy in your business.