As a successful business owner, chances are you’re a member of a mastermind group, or you’ve attended a conference with a wildly famous entrepreneur as a keynote speaker. In these settings there’s a lot of talk about the latest business trends – the newest system, process or metric that will “take your business to the next level.” And we all want that, right?
So, we take copious notes, we buy their books, and we bring it all back to our organizations. We’re so energized by all this next-level talk that we immediately dump it into our companies, uprooting and derailing implementation efforts from the last shiny object we chased, causing chaos and confusion throughout our organization.
We have good intentions, but we still confuse the crap out of our employees. They’re busy trying to implement the processes and metrics of “Guru A” on top of all of the day-to day-work that keeps the business humming.
Is that the reason for all the overtime, or the reason the analysis you requested 3 months ago hasn’t been completed? Is that the reason your reports are late every month?
The answer is probably yes. All these inefficiencies are caused by a lack of focus within the organization, perpetuated by your own lack of focus. Your people are confused by the constant change in priority and direction. Your bottom line may also suffer because of increased overtime costs and late or unfinished numbers.
The best approach is to determine which new process or system aligns with the goals and strategic direction you already have in place for your organization. If the newest business trend doesn’t support the path that you’ve constructed, then you need to pass on it.
Deploying human capital, your team’s time and effort against a project that doesn’t align with your organization’s strategic direction is a recipe for team fatigue and frustration. It also translates into reduced profits over time. Select those processes or systems that deliver positive results for both your team and your bottom line. Remember – what gets measured gets managed. Ensure that you have your key metrics identified and determine the frequency with which they are updated and shared. This is the path to achieving your goals and delivering profits.
By maintaining an unwavering focus on these fundamentals, you can stay the course toward increased profitability no matter which new system or process you choose.
Want to develop more focus so you can grow with confidence? Give us a call.