The Dynamic Development of a business is complex, with many factors contributing to its success or not. Among other things, it is important to have a proper strategy, to have a quality and marketable product or service and certainly effective processes. At the same time, it is up to the INDIVIDUALS of the organization to actually implement the strategies, plans and processes to make a business truly successful.
Your people are your most important asset!
This should not be just a phrase, but it should be the basic philosophy of your business! Research shows that employees and partners who feel that their contribution to the company and organization is valued, lead to a 24% increased chance of revenue growth and profitability. Even more, they strengthen the “core” The purpose of a company: They satisfy customers so that repeat sales and positive recommendations are generated.
According to Simon Sinek, a renowned marketing consultant and author, “customers will never love a company if its employees don’t love it first.” This means that employees need to treat their work with interest and passion, and daily actions as another step closer to its goals.
How will you do it?
The first step is simple, but basic! You need to consciously start “listening” to what your employees have to say, and take it seriously. You will thus have the opportunity to learn more about the problems they face on a daily basis, as well as the solutions they can propose through their experience. At the same time, You’ll begin to identify potential leadership talent among your employees.
Avoid the mistake that many companies often make, that is, to create a framework that gives the impression of open communication, but this is not the case. Make it happen!
Once you understand the needs and the room for improvement, it is important to evaluate all the key relationships that “surround” the business:
- Would you keep all your existing customers?
- Are you happy with your investors/bank?
- Do your suppliers support you properly?
- Are your consultants—accountants, lawyers, and coaches—the best for the size of your organization and your future plans?
Important and critical questions. The most difficult decisions are usually made when the company has already overcome some of these relationships and changes need to be made. You start with your own relationship and priority goals and then make it clear who are the leaders responsible for the main functions and processes that “direct” the business.
We know through our many years of experience that even profits can hide operational risks. But when it comes to your employees, having strong, dedicated people on your team can make the company perform beyond expectations.
So if your company’s scale up isn’t keeping up with the pace you expect, start by introspecting your organization, and see if the right people are doing the right things the right way!