We need to lead the way to success. Especially with our least profitable division. They need some kind of direction, training, or guidance. How to achieve the goals they’ve set. Daily planning and priorities. What gives them the best return on investment? Where to market? Where do I start?
Thoughts of the day: Lead the way to success. Figure out a leadership model that works for your business is essential. Find the gaps. Gather and report on information consistently to ensure the company is gaining the right kind of traction. Build a profit model.
Lead the way to success
Pick a point on the horizon and head for it. Line up today’s tasks, this year’s goals, and three- to five-year objectives. Things will undoubtedly change as time unfolds, but knowing where you are headed and describing needed changes will help everyone on your team stay on point. This is job No. 1 for any business owner. Put your goals in writing and share them with everyone in the company.
Be a problem solver. Figure out what works and what doesn’t work in your industry. Fix the problems. Test solutions with customers to ensure there is a market need. Understand what your marketplace wants and get everyone on board with delivering exactly that, with some degree of uniqueness.
Assign as many people to marketing as possible. Teamwork always gets better solutions, so long as the debate ends in a concrete set of next steps.
Ask yourself: Do you have the right people? Are they well-trained? How current are technology and processes? Is your ego in check? Are you qualified to lead the way to success?
Surround yourself with people you can rely on who are committed to the same set of goals, objectives, and tasks as you are, with the skills necessary to build and run a company two to three times the size.
Don’t stay stuck
Learn to defer to the people around you. Lead the way to successful expansion. Allow a team of committed, accountable people to take the business forward. Lead the way to success to increase your ability.
Find the right mix between good people taking initiative and systems. Deliver consistency and reliability. You need both. Make sure your systems are up to date, efficient, easy to use, and widely in use.
It’s normal to consider hanging back. Beware of sticker shock when the price of technology innovation seems high. Or key hire seems too high. Consider how the person or system will be used? What impact will that have on your organization? Look for personnel and technological solutions. Invest long-term and still innovative years down the road.
Use technology upgrades to rethink how things are done. Streamline how materials are handled. How customers interact with you. How pricing is managed. Speed and accuracy through automation are key. Speed and accuracy through automation are key. Your company can compete effectively in the 21st century.
Skills for success
Most entrepreneurs find it hard to step back and get out of peoples’ way. Admit that you, too, have made your fair share of mistakes. Learn to take pride in letting those around you get stronger. As they seek to solve problems. Encourage people to step up and take over. Even if they take a route different from the one you might choose.
Figure out what key indicators will tell you whether things are on track. Post results on the wall. Lead the way to success. Everyone can see how things are progressing. Use graphs to make progress visible.
Make time to meet weekly to discuss goals, key indicators, and accountabilities. Consider progress, obstacles, lessons, and next steps. Keep notes in writing. Agree on the next list of actions to be taken. Who will do what, and by when. Check on whether activities agreed to earlier are complete or stuck. Figure out who needs help and get them what they need.
Lead the way to success. Teach people about profitability. Build a model to measure return on investment. Make ROI a critical success measure. Keep profits in the company to ensure the availability of funds. Solve problems when things don’t go as planned.
Looking for a good book? Try “Scaling Up: How a Few Companies Make It … and Why the Rest Don’t” by Verne Harnish.
