Your Business Success Checklist
As a business coach, I spend a lot of time working with people
who want to improve different aspects of their business. Many
times these aspects are merely symptoms of a more fundamental,
underlying issue.
If you want your business to truly shine, then there are some
basic principles that, if not present, can lead to sub standard
performance in other areas. And here they are:
1. Crystal clear purpose
The most common reason companies run into trouble is losing
sight of the customer and their needs. Having a crystal clear
purpose helps keep the focus from becoming too internally
fixated, instead articulating why the business exists from the
customer's perspective. A clear and inspiring purpose will also
give your employees a reason to be connected with their hearts,
not just their minds.
2. Discipline
Sometimes this is an unpopular topic, but it is critical.
Discipline means having a sharp and constant focus on your
objectives, whether they be growth, profits or customer
objectives. Successful businesses build continual monitoring
into their processes, constantly aware of the gap between where
they are and where they should be.
3. Goals that compel action
Most people are motivated to work for a cause of some sort. The
business must continually paint a picture of what the future may
hold. And it needs to be more compelling than 'surviving' or
'selling lots more'. Goals that challenge without being
unrealistic, and that inspire people to go above and beyond,
will reinforce a culture of innovation, effort and excitement.
4. Prepare for several futures
Successful businesses are rarely taken by surprise. They spend
time thinking about "what if" scenarios, and planning their
responses. It's a fact that most business owners don't think
beyond the next quarter or six month period. This can lead to
sticking with products and services for too long and failing to
identify shifts in the market - making change and innovation
almost impossible.
5. Leadership
The leader's job is not only to inspire effort and provide
direction. They also carry the task of meeting the psychological
needs of their employees while they are at work. Leaders that
are emotionally mature, energetic and future oriented are an
absolute necessity, if the business is to thrive rather than
plateau.
6. Excellence in everything
Companies will not survive long today if they are "just
average". What does it take to foster a culture of excellence?
High standards, accountability, a willingness to learn and a
continual focus on creating value for customers. If these things
are in place, excellence becomes a by-product.
So how can you tell if your business lives these principles?
See how you go at answering these questions:
How do you measure performance of the organization as a whole?
What is the purpose of your business?
What is it to "go beyond yourself" and how is that important to
the business?
Can you articulate the differences between what you need
personally and what the business needs?
Assuming most companies reach an early plateau, what do you
think successful companies do to avoid that?
Far too many organizations are limited in their capacity to
grow because of the skills, capabilities and attitudes of their
people (including ourselves). How do you plan to address this
potential problem in your business?
How can you be sure that your employees tell you everything you
need to know?
So how did you go? Any room for improvement? Aim to instill and
live these principles in your business, and you will have laid
truly solid foundations. From there, the sky's the limit.