Redefining Success30th September 2022
The Business 101 Cycle7th November 2022
This is a great concept to help you understand how to better achieve the goals and targets set in your business. If you’re struggling to achieve these goals that you’ve set, it is usually down to one of four reasons. This blog goes into a bit more detail by looking at the four decisions driving growth: People, Strategy, Execution, and Cash.
- PEOPLE: Are we attracting the right people – are we celebrating success, do we have the right culture? Are our people in the right seats (you may wish to look at the book Traction by Gino Wickman to help you figure this out) We want them to be engaged and motivated to help drive the business growth.
- STRATEGY: Are we clear on our strategy. Do we have a documented vision for the business and areas to focus on? Have we shared this with our people so everyone knows what direction the business is taking in the next 6 months, one year, 5 years etc?
- These first two focus on relationships within the team. If these first two are ok, it’s time to look at the other two reasons…
- EXECUTION: Is it the actual execution of the strategy that is impacting the growth? Are we too busy to execute the strategy? Have we driven efficiencies through the business? Do we have clear 90 day goals and an action plan to monitor improvement?
- CASH: And finally, assuming the execution is correct, is it a cash issue? Sometimes we have a great strategy, we have the great people, and we are executing the strategy, but cashflow is impacted, starving the business of the oxygen needed to reinvest in the business and achieve the growth it requires. This would require looking at your cashflow cycle – are people paying you on time? Are you paying your suppliers before you’ve been paid? Are you sitting on a lot of stock? Are you making sufficient profit?
- The second two areas are results-focused, focusing on the results we want to achieve in the business.
Find out where the things are going wrong in the business – is it the people, the strategy, the execution or the cash?
Make sure you reach out to the right people to ensure you have the accountability and support to improve these areas. If you need some help, why not book in a Discovery Call and see how we can help you grow your business. You can also take a look at some of the blogs we’ve written that may help with each of these areas:
People – Organisational Review
Strategy – Effective Business Planning Blog
Execution – Achiever Matrix/time management
Cash – 7 Reasons for Poor Cashflow blog