If you’re thinking about how to rapidly increase your business growth potential, look for ways to improve your business execution. There are usually areas for improvement that leadership isn’t aware need improving.
How you do you rapidly increase your growth potential when you improve your business execution? Start by asking yourself these questions:
Your discomfort indicates something is not right. The discomfort indicates it’s time for a change.
I see too many businesses and corporate departments stuck in low gear or just idling condemning leadership to being life guards waiting to react to the next problem. It saps the energy and vitality of the entire organization. Leaders can’t take time away from the business for fear of what they will find when they come back.
As the excitement level drops, the fear increases for everyone involved. The business becomes a weight belt tied around everyone’s waist, a business or department focused on fire fighting rather innovating and exciting customers.
I know. I’ve walked in your shoes. I’ve been in management or senior management in every area of a company, with the exception of finance and human resources. I’ve not only consulted with many businesses in the past 30 years who suffered in this way, I’ve helped to turn around a number of dysfunctional departments and companies who were drowning. The results make people wonder why they were in such a horrible state for so long.
So, what do you do if your business or department isn’t everything you want it to be? What do you do if there is a gap between where your business or department is and where you want it to be?
The hardest business to consult with is your own! The best practice is to bring in a business execution expert who will help you get your business back on a path to profitable, sustainable growth. You’ll benefit greatly and rapidly from an outside perspective.
To turbocharge your business execution you need to look at certain areas that will help you raise the bar for how you execute your business operations. Each area is based on your needs and priorities, but all are equally important to get the results you want. Typically you start by assessing the current state of your business execution and collaboration. After this assessment, you decide which of the following options are needed:
Better Connect To Your Customers
Assess How Your Company Is Doing Within Your Marketplace
Define Your Mission, Operating Principles and Values
Define The Requirements For Implementing Business Systems and Processes
Let’s take a closer look at these options.
The first step you can take is using one of our free and private online Business Assessment tools to help understand what’s working and where you have gaps.
As a business owner or department head, you undoubtedly think you know about everything going on in your business. And, for the most part, you probably have a pretty good handle on the important matters. But, do you know everything that you need to know? Probably not.
The best practice is to have an independent, third-party conduct an assessment to help you better understand where things stand. But if you want to get started on this yourself, you can take the assessment(s) and have people in your organization take the assessment(s), then see if you’re in alignment. The results are most often surprising.
Your team members will say things to an independent third-party that they would be reluctant or hesitant to say to you. You’ll get confirmation on things you may suspect are issues and you’ll likely learn some new things.
*Tip: If you want to start this process with the self assessments on our site, and want uninhibited responses, you can have employees fill in the assessment online, print it, and have the results gathered in an anonymous manner.
Whether your business has suffered a downturn and reduced headcount or you’ve grown in recent months or years, it’s critical that you take some time to figure out where you stand.
Your team will really appreciate the opportunity to provide feedback. This is a great, first step in turbocharging your business execution as it helps identify the logical and critical next-steps.
Did you know customers don’t care as much about the “what” and “how” of your business nearly as much as the “why?”
Most companies do a good job of explaining what they do and how they do it. However, like their competitors, they haven’t created and shared a compelling “why” they are in business:
What gets them up in the morning,
What gets their juices flowing,
What inspires and excites customers about the relationship they enjoy with the company.
A compelling, inspiring “why” drives and accelerates buying and very favorably impacts your employees, customers and prospects. While it sounds trivial to come up with a “why,” it isn’t.
This missing “why” provides the foundational key to winning in your marketplace. This isn’t just a linguistic exercise. A well-crafted “why” drives a biological response that drives buying behavior. Once you understand how this works, a light bulb will go on for you, your team and your customers.
Strategically plan a process to support the creation of your unique “why” which will provide the impetus for increasing the velocity of your success. This process will include:
Facilitating one or more meetings to kick off your discovery process.
Review your current messaging and interview your executives and employees in your organization and, perhaps, key customers.
Define your “why.”
Collaborate with your team to determine what is needed to support an across-the-board implementation of your powerful “why” to promote the proper representation of your brand.
Most business owners and their teams are pretty focused on their own businesses and aren’t considering, nearly as often as they should, how they play and fit in the bigger world they play in. With your team (or third party) raise the critical issues that your company needs to be continually focused on but seldom takes the time to explore such as:
How does your company rate in your marketplace?
How do you stand with your customers?
What makes your company great?
What are your sources of competitive advantage?
There is real gold to be harvested in this intervention. There are 2 aspects:
Define the Mission: this is more than a simple phrase. This effort creates a clear target for your business: the “who,” “what,” “where,” and “how” of your business. This provides in clear and unambiguous terms what you do and who you do it for. It is the north star for your business, helping you decide if a new opportunities you might spot fit or do not. Many companies flounder because they chase too many pretty butterflies. This brings discipline and focus to your business, your department, or your team.
Operating Principles & Values: high-level statements that a company or department believes everyone understands but are seldom articulated anywhere. Culture is homogenized from attitudes, beliefs, behaviors, a code of conduct, business execution, actual and perceived standing in the marketplace, etc. This step in the process is key to building the cultural values that drives a company’s culture.
A business needs to have controlled and responsive systems to support day-to-day business execution in sales, marketing, product and service development, operations, and customer service. Without systems and processes, a company is people dependent, not business process, and system dependent, negatively impacting agility and growth. What business processes do you need? What systems do you need?
The investment required in software licensing to support the business has never been lower. Cloud-based solutions are making this a reality. So, unlike the last 20-30 years where significant amounts of capital have been required for hardware and software systems to improve productivity, this is no longer the case. Your investment in the design, implementation, training, integration, and adoption of these tools won’t break the bank.
It’s easier than ever to identify tools that conform to our notion of best practices in the area of ERP, CRM, project management, etc., that can be tailored to your needs. Finding the resources to implement these tools to improve your business execution and control is easier than ever before. When you take out the people dependent aspect of processes, your operations and business execution will be self-sufficient. No more disruption when that one person that knows how to run things or complete a process doesn’t show up for work or leaves you in the dark.
You may think you don’t have the desire, time, or the money to engage in this process. You may think you are doing “good enough.” And, you may be right.
But, I ask you to consider what one of my business mentors, Jay Abraham, says:
“I have a very simple philosophy on life. You shouldn’t steal from yourself. If you’re going to commit your life to an enterprise, wealth creation, the security and the financial well-being of your family… and if other people your staff, your team, your employees, your vendors are going to commit their lives to you, you owe it to yourself and to everyone else to get the highest and best results.
You should never accept a fraction of the yield when with the same effort or less, the same people or fewer, the same time or less, the same capital or less, the same opportunity cost or less, can deliver so much more to you currently, and perpetually.”
Unless you are the rare business owner or department head who has everything dialed in, perfectly, I’d be more than happy to set up a consultation to go over how you can turbocharge your business execution.