TAKING RISK FOR GROWTH
Focusing on Achieving Goals
Be The Change Agent
To promote high growth be the principle change agent in your business. To sustain high growth build a qualified and competent team with personalities that embrace change as a positive challenge.
The vision, mission and values of the business should promote change that challenges the status quo by providing innovative products or services that delight and satisfy consumers.
To be truly transformational, a business leader needs to establish open channels of communication within the organisation and across the supply chain from suppliers to consumers. The rank and file of staff and every team member should feel encouraged to give feedback and suggestions. Even the too often forgotten cleaning, security and delivery crew may have ideas worth noting.
Be constantly on the look-out for opportunities that enable you to seize the initiative by being innovative. In the book, “Global Productivity Mindset” (available on McNallyRobinson.com) the story is told of a lady in the United Kingdom who took the initiative to supply samosas cooked in her home kitchen to local food stores. This has grown into a multimillion Pound frozen food business that supplies major international supermarket chains.
Communicate Relentlessly & Constantly
To be an effective change leader, inspire your team by constantly and relentlessly communicating your expectations and vision to them. Make sure all business activities are in line with the vision and values of the business.
A team with the right skills, knowledge and passion will be a team that enjoys the work they do. This can translate into sustained high performance and continual high growth for the business. It is therefore important to have fun in the work place while focusing on productivity.
You can delegate to the maximum by appointing the best people. This requires giving individual team members the freedom and encouragement to do their best work. This builds self-confidence and strengthens the business.
Get out of the office and have a meal or coffee with team members, suppliers and customers. Listen intensely to what they have to say. Make notes immediately of useful feedback and ideas that come to mind. Rich Branson of the Virgin Group does this and calls it his, “secret weapon”.
Communicating within the business and across the supply chain is the hallmark of a business that embraces change as an opportunity to grow the business.
Plan Against Worst Case Scenarios
In challenging the status quo by proposing something better it is vital to manage the risk involved.
By encouraging your team to take on a challenge you are taking on risk. Protect the business from being impacted by negative factors by calculating the risk involved before taking on the challenge. There is always a possibility of failure. Only make a decision as to whether to take on a challenge after working out the probable losses for the business in a worst case scenario. This will prepare you and your team to face adversity if the worst happens.
Always measure and evaluate outcomes. Establish a realistic benchmark to measure against. Gather evidence as a project progresses so you can continually evaluate performance and, take corrective action to achieve expected goals.
Achieving goals is a powerful motivator that encourages individuals to keep striving for change that promotes growth.
Siddha Param
International Business Consultant
Reboot your business plan for sustained high growth
Do share this article on social media and with those interested
Focusing on Achieving Goals
Be The Change Agent
To promote high growth be the principle change agent in your business. To sustain high growth build a qualified and competent team with personalities that embrace change as a positive challenge.
The vision, mission and values of the business should promote change that challenges the status quo by providing innovative products or services that delight and satisfy consumers.
To be truly transformational, a business leader needs to establish open channels of communication within the organisation and across the supply chain from suppliers to consumers. The rank and file of staff and every team member should feel encouraged to give feedback and suggestions. Even the too often forgotten cleaning, security and delivery crew may have ideas worth noting.
Be constantly on the look-out for opportunities that enable you to seize the initiative by being innovative. In the book, “Global Productivity Mindset” (available on McNallyRobinson.com) the story is told of a lady in the United Kingdom who took the initiative to supply samosas cooked in her home kitchen to local food stores. This has grown into a multimillion Pound frozen food business that supplies major international supermarket chains.
Communicate Relentlessly & Constantly
To be an effective change leader, inspire your team by constantly and relentlessly communicating your expectations and vision to them. Make sure all business activities are in line with the vision and values of the business.
A team with the right skills, knowledge and passion will be a team that enjoys the work they do. This can translate into sustained high performance and continual high growth for the business. It is therefore important to have fun in the work place while focusing on productivity.
You can delegate to the maximum by appointing the best people. This requires giving individual team members the freedom and encouragement to do their best work. This builds self-confidence and strengthens the business.
Get out of the office and have a meal or coffee with team members, suppliers and customers. Listen intensely to what they have to say. Make notes immediately of useful feedback and ideas that come to mind. Rich Branson of the Virgin Group does this and calls it his, “secret weapon”.
Communicating within the business and across the supply chain is the hallmark of a business that embraces change as an opportunity to grow the business.
Plan Against Worst Case Scenarios
In challenging the status quo by proposing something better it is vital to manage the risk involved.
By encouraging your team to take on a challenge you are taking on risk. Protect the business from being impacted by negative factors by calculating the risk involved before taking on the challenge. There is always a possibility of failure. Only make a decision as to whether to take on a challenge after working out the probable losses for the business in a worst case scenario. This will prepare you and your team to face adversity if the worst happens.
Always measure and evaluate outcomes. Establish a realistic benchmark to measure against. Gather evidence as a project progresses so you can continually evaluate performance and, take corrective action to achieve expected goals.
Achieving goals is a powerful motivator that encourages individuals to keep striving for change that promotes growth.
Siddha Param
International Business Consultant
Reboot your business plan for sustained high growth
Do share this article on social media and with those interested
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