Creating a Big Business WIN
What I’m Thinking About: Setting One Overarching Goal
As discussed in last week's blog, Measure What Matter, most companies need to focus on 5 key business areas: Profitability, Employee Engagement, Customer Engagement, Operational Excellence and Marketing and Sales. All five are essential to creating a sustainable, scalable business. Setting goals in each area, tracking progress towards goals, and celebrating when goals are reached can unify team members and strengthen the company.
Odds are high, however, that your business has one area which requires the most attention. Creating an overarching, company-wide goal in this area, publishing the goal, and keeping the goal top of mind throughout the company will help everyone focus on the big WIN – What’s Important Now.
Why You Might Be Thinking About It: You Want a WINning Strategy for Your Business
Once you understand your big WIN, tie it to a strategy, goal and tactics.
Perhaps the most important area for the company for this year, the big WIN, is profitability.
The strategy? Focus on profitability.
The goal? To turn this into a specific, time-driven, measurable goal, you might state “We will increase profitability by 13% by the end of the fourth quarter.”
The tactics? Determine the ways to increase profitability. The ways to increase profitability may be to decrease and increase things that affect profitability such as: decrease overhead, decrease cost of goods sold, decrease customer complaints, decrease production downtime, increase quality control, increase marketing efforts, increase customer base, increase customer retention.
Why It's Worth Thinking About: “Winning is a habit. Unfortunately, so is losing.” Vince Lombardi
As a business choreographer, I help business people create winning businesses. To win big, we have to focus. Understanding where we need unify and focus the most effort can create a big WIN.
Ready to WIN? The Sandbox Group is ready to help.