Four themes I use to keep my businesses focused.
Recent Global events have made many business people anxious and fearful of their futures.
We do indeed live in uncertain times, and throughout this decade hot business opportunities and large threats will co-exist.
Will we gain or lose trade deals? Have we avoided a catastrophe? Has the crisis passed? Has the Pandemic been tamed? Will lockdown ever end? Is the economy growing again or will the recession continue?
Whatever the answer, business leaders must dramatically improve the ability of their business to respond quickly to different economic cycles.
“In the middle of difficulty lies opportunity” – Albert Einstein
Here are the Four themes I use to keep my businesses focused on what matters.
One – Make your strategy clear and focused:
- Build a strategy around a clear value proposition for the customer;
- Develop a strategy from the outside in. Base it on what your customers, partners and investors have to say and how they behave;
- Maintain antennae that allow you to fine-tune your strategy to changes in the marketplace;
- Clearly communicate your strategy within the organisation;
- Keep growing your core business, vertically and laterally – beware the unfamiliar.
Two – Execute flawlessly:
- Deliver products and services that consistently meet customers’ expectations;
- Empower front lines to respond to customer needs;
- Constantly strive to improve productivity and eliminate all forms of excess and waste.
Three – Make your Organisation Fast and Flat:
- Eliminate redundant organisational layers and bureaucratic structures and behaviours. Simplify, simplify, simplify;
- Promote cooperation and the exchange of information across the whole Company;
- Put your best people closest to the action and keep your frontline stars in place.
Four – Build a Performance-based culture:
- Inspire all to do their best;
- Reward achievement with praise and pay-for-performance, but keep raising the performance bar;
- Create a work environment that is challenging, satisfying and fun;
- Establish and abide by clear company values.