Developing a Strategy at the Entrepreneurial Stage
(Part 2 of 3)
Okay now you have assessed your business and identified those customer facing processes that are under performing. You have evaluated the effectiveness of your teams problem solving and leadership abilities. It is time to consider a strategy that will be effective for you.
You will find that your business can largely be broken into three categories; Process, Product, People.
Each of these are explained below, assuming a perfect business. Start by summarizing how well you perform in each of these three categories:
Your processes are well defined and formalized making it straightforward for employees to perform their tasks in fulfillment of customer need.
You provide a solution to a customer problem or need in the form of a product or service that includes a high perceived value.
Your business has skilled, dedicated, and motivated employees in every position. These employees consistently execute their roles allowing the company processes to deliver a desired product and or service to a valued client.
The first objective has to be stabilizing critical
customer facing business processes.
Keep in mind that the first objective has to be stabilizing critical customer facing business processes. This may seem too conservative for your tastes and I understand. I will also tell you that there are no silver bullets that will magically transform your business processes. Build a solid healthy foundation and then we can begin to accelerate.
A second priority is to evaluate your products / services and ensure that they are delivering the value you promise your customers.
The third priority is to consider the skill set of your people. Enacting a continuous improvement strategy is a multi-year enterprise. This means you have time to intentionally build the skill set of your employees and leaders as you build your strategy.
Year 1 Plan
Identify SMART goals (Specific – Measurable – Achievable – Relevant – Timed) for each of the three areas.
I recommend setting 90 day goals and tracking progress weekly. In this way you can quickly shore up any liabilities that put your business at risk and set a foundation for the future. I fully expect that you will begin to see immediate payback from this effort. Once business processes and products/services are stabilized, customer perceptions of value will strengthen.
With respect to your people, consider a training program for your managers on how to be effective leaders in your business. This will become a foundation for the follow on years plans.
Now let's talk about Step #3 what to IMPROVE.
If you' re ready to begin building your continuous improvement strategy, we're here to help. Schedule your complementary STRATEGY SESSION and together we will design a plan that fits your unique business.
Dr. Ron Hurst
Avid cyclist, dog lover, life long learner, enthusiastic problem seeker. My life's work is to challenge leaders like you to grow your abilities to create empowering, positive, high performing workplaces.
Developing Leaders Inc.
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