1. Maximise Personal Effectiveness
What is the gap between the results you would like and the results you are currently achieving? How effectively are you using your time? Seriously question whether you need to be doing all the things you currently are. By putting in place a clear company direction, supporting it with a well-defined organisation structure and defining measurable systems and controls, many tasks can be delegated, automated, systemised or even eliminated!
2. Manage Financial Performance
Understanding precisely where you are at relative to where you need to be is essential. Having a way to effectively model and manage cash-flow is paramount as is defining a budget for revenue and expenses. Simple tools to define and report on these will do much to identify the source of the problem(s) and/or where improvements can be made.
3. Structure the Organisation for Growth
Define the primary business functions within the company and define the responsibilities associated with each of these. For each business function, identify which person in the organisation is responsible for the results in each and specifically note any gaps. Redefine your organisation structure so that the roles and responsibilities are clear.
4. Define a Clear Direction for the Business
Develop a simple, clear and compelling Business Strategy which includes a clear vision of where you would ideally like the business to be, a defined purpose for the business and establish the company’s corporate values. Identify the key issues holding the business back and develop a set of practical goals to be achieved over the next 12 months.
5. Implement Simple Business Measures
For each of the practical goals identified above, determine how you will measure your results and how you will monitor their progress. It is essential that whatever measurement systems are defined are simple to use, easy to interpret and the data easy to collect otherwise they simply won’t happen.
6. Engage Staff at All Levels
Communication of the business strategy on a periodic basis is a great way to reinforce the desired company culture and regular feedback on company goals does much to increase staff’s sense of their role within the organisation. Well-defined KPIs, recognising team and individual successes, holding people accountable to the corporate culture and respect for all are key elements.
7. Automate and Systemise
For a business to achieve sustained growth and profitability, it needs to reduce its reliance on individual staff members and invest in creating systems and processes that enable the business to run successfully from an operational perspective thereby allowing room for continuous improvement and innovation. This should be done throughout the organisation and with the direct involvement of the staff.