admin 
The president and executive chairman of Veritas Global Protection, Elijah Norton, recently sat down for an interview with DotCom Magazine to reflect on his journey to transforming Veritas Global Protection into the global giant it is today.
The vehicle service contracts industry is highly competitive. It has a lot of challenges, the key among them being that many people do not see the need to have a vehicle service contract when they have auto insurance and a valid manufacturer warranty.
He explained that vehicle service contracts are only helpful if they fill a coverage gap. If there is no coverage gap, such a contract would not be needed. Otherwise, it would only create a redundancy.
After driving Veritas Global Protection to success, Elijah Norton shares some fantastic insights with entrepreneurs. The following are the top 10 steps for creating a successful business according to Elijah Norton’s business acumen:
Step 1: Have Patience
According to the executive, patience is a crucial ingredient for business success. Success does not come overnight. Some businesses might have become successful in under one year, while others might have taken two years.
However, entrepreneurs should give their ventures at least five years to be successful. Entrepreneurs who are not patient enough may get disillusioned and close shop when success is just around the corner.
Unfortunately, many entrepreneurs expect instant success because they have a great business idea and passion for their business. These entrepreneurs usually get demotivated when their business takes too long to become a success.
It took three years, a lot of hard work, and perseverance for Elijah Norton’s first venture to become successful.
Step 2: Assemble the Right Team
Employees are the key drivers of stability, growth, and success in business, so entrepreneurs need to hire the right team from the start.
Each team member should embrace diversity and other community values, such as teamwork and collaboration.
The ideal team member should be willing to work when times get hard. Elijah Norton recalled how the first few employees of Veritas Global Protection stuck with the company even during the hard times to ensure long-term business success.
Step 3: Embrace the Grind
During the interview, Elijah Norton emphasized the need to work hard. Entrepreneurs need to work hard when revenues have stagnated or taken a dip.
When some growth is recorded, they need to put in more effort to sustain the trend. The business executive noted that there is no substitute for hard work, so entrepreneurs must embrace the grind.
This has transformed Veritas Global Protection from a small company that employs just two people to the industry leader it is today.
Step 4: Innovate Always
Customer needs constantly change, while competitors always develop new products and better marketing strategies.
This means it is easy for a business to lose its customers to the competition. To stay relevant, retain customers, and attract new ones, business owners must constantly innovate.
Changes in technology and challenges in the industry should be looked at as stepping stones instead of obstacles.
The Elijah Norton business empire has managed to stay ahead of the competition by constantly reviewing its service contracts and coming up with new products to meet the changing needs of the industry.
Step 5: Invest In Team Member Leadership Training
Every team member is a leader in their own right. Therefore, business owners should be willing to invest in leadership training programs for their employees.
Research has shown that employers who offer leadership training programs for their employees usually have higher team member retention rates.
This is true even for Veritas Global Protection, as the company has managed to retain its best employees for many years as a result of the leadership training offered by the company.
Step 6: Learn From Setbacks
Every business is bound to experience setbacks. This can be losing an important client or team member or filing a lawsuit against the company.
Whatever the case, setbacks allow entrepreneurs to grow. However, entrepreneurs must learn from setbacks. Over the years, Elijah Norton has faced many setbacks and has embraced those setbacks as opportunities to innovate and grow the business further.
Step 7: Offer Top-Notch Customer Service
According to Elijah Norton, the customer is critical, so there is a need to invest in quality customer service to ensure every customer gets top-notch or A-rated service from the company.
Elijah Norton explained that customer service is part of the company’s mission, so every team member, including partners and representatives, is required to offer exceptional customer service. This is because customers who are treated well always come back for more.
Step 8: Stay Informed
Business owners must always stay updated with news about their industry. The latest accurate information about the industry can aid in the decision-making process.
Elijah Norton saw a gap in the industry as the electric vehicle industry began to take shape. He developed a vehicle protection plan for electric vehicles, becoming one of the first few companies that covered electric vehicles exclusively.
Recently, the company started offering battery pack replacement in their contracts, a first in the industry. The latest industry news informs this.
Step 9: Develop a Business Philosophy
Entrepreneurs need to have a business philosophy guided by company values. This helps to create a culture of excellence. This will contribute immensely to the long-term success of the business.
The core values of Veritas Global Protection include; responsiveness, integrity, transparency, and accessibility.
Step 10: Strive to Offer Maximum Customer Satisfaction
The only way to guarantee a business’s long-term success and growth is to meet customer expectations consistently.
Veritas Global Protection has been striving to offer maximum customer satisfaction, which has led to the rapid growth of the business.
