Managing director of Vincent Consulting
Business in New Zealand continues to be demanding and when it is, we must get back to the basics.
Norman Vincent Peale said “In every difficult situation is potential value. Believe this and then begin looking for it.”
There will be companies in any environment that due to their positioning and competencies can capitalise on any silver lining.
Decision makers need to take decisive action. It is essential that they combat the pressures and respond to market and economic conditions in a way that minimises negative effects.
There are four primary areas in any business that I consider the basics. These are strategy, action plans (and execution), the organisations culture and its structure.
The ultimate success of most company’s will always depend on the skills (competencies) and experience it has developed and the commitment of its people.
Your strategy needs to be clearly understood, well communicated and be developed around a sound value proposition for your clients. Business success is always rooted in value. When your capabilities match your clients’ needs, both parties achieve value. When that value is equitable both companies can prosper.
Think about where you are today, where you want to be in the near and long-term future and how you might get to that future point. Ask yourself what and why questions. What is it we are trying to achieve and why?
Action planning is the tool to make your strategic intent happen. You need to clearly define clear objectives.
What is the required action and why is it being done? When will the action point be completed and by whom? What resources are required in time and money to make this action happen? Are there any other considerations? And how will we achieve this?
Inspire your team through being the strong leader they desire and need.
Ensure you have people around you that have the ability and desire to make things happen. Your best chance of success will come from your team, clients and colleagues who understand the situation and share the will to achieve the vision and goals.
Keep your structure simple. Have less layers of management and more degrees of empowerment.
Promote communication, co-operation, teamwork and knowledge sharing. Ensure your sales teams are equipped with the best selling skills available. Make sure they know how to sell value though benefits and not compete on price. Discounting is a one way street to oblivion.
Upskill your company; match and develop your skills to your clients’ needs. Look for new ways to meet your client’s issues and concerns.