What is Holding Your Company Back?
Is your corporation holding true to its core capabilities, passions and values? Or does it drift with the wind as the competition erodes your market share? Perhaps your employee culture is sour, harbouring poor results and low productivity. Or maybe your low employee turnover indicates an unhappy employee satisfaction rate. Is your company looking at repeated losses? These are all areas that we tackle, ensuring that your marketing, operational and financial sectors reap the greatest results.
This blog is meant to guide Kevin Sheehan Business Consultants’ current and potential clients as an additional resource to our consulting services. Understanding what guides Fortune 500 companies to the lasting success that they’ve gained is easier said than done, therefore any tidbit of reinforcement is needed and appreciated by our clients.
A Productive C-Suite
What many leaders don’t understand is that if there is an issue with their work force, it is because there is an issue with the leadership skills. We ensure that our clients look in the mirror without a face of makeup or mask hiding their every flaw. If you truly wish to turn your company from a million-dollar corporation to a billion-dollar corporation, then you must restrain yourself from blaming others for their mistakes and instead search for the proper solutions. It’s not about the glitz and glamour of being at the top. A truly exceptional leader will check their ego at the door and be willing to get their hands dirty when the going gets tough. Their vision is focused on the long-term growth of the company as opposed to simply the next few months.
Building The Optimal Core Team
If you wish to grow your company tenfold then you need to make sure that your team is built precariously to the strengths and weaknesses of your employees. Perhaps one employee is not effectively completing their role in one assigned job position–don’t be quick to judge them. This may mean that their strong suits would better fit the constraints of another job position. Your goal should be to eventually write out the strategic direction of the company, once the core team has been created. Figure out whether your employees are on the right seat on the bus and then drive full-force.
The Fox Versus the Hedgehog
There are two types of characteristics that define a large corporation. Some companies can be defined as a fox, the type that will run head-first for any opportunity that comes their way without any logical basis. The other is dictated as the hedgehog, a slower-paced animal that will take its time determining where it should direct its focus. The hedgehog approach is measured, steady and intentional. Which approach does your company take? Do you fix your drowning company or do you strive to protect the company before it drowns? Before becoming scatterbrained, ensure that your company finds its niche offering and focuses on perfecting that item before creating new product segmentations.
Listen to the Honest Truth
When faced with fearful or tragic situations, it is custom to either freeze, fight or flight. The way that a company reacts to difficult problems is what differentiates them from a good organization to a great one. Listening in on what customers have to say about your product, and believing the grand majority, might be tough at first. If your employees also bring up an issue, don’t push it under the rug. Deal with the issues that confront you by implementing new and effective regulatory principles. Always fight, never flight.
You Don’t Have to Digitalize Everything
We live in a technological world where new tech advancements pop up every few months, and every day items like hotel room cards, gas-powered cars and network TV may become obsolete in a few years’ time. Companies recognize that if they don’t get on the bandwagon of the digital sphere, they may unfortunately be left behind. While certain industries and company structures require these established advancements to keep up with the rest of the market, the need to update technology does not apply to everyone and every thing. The main rule of thumb for integrating technology into your company is ensuring that it enhances productivity, improves your products and services and will be worth the time and effort of implementation. The consultants at Kevin Sheehan always prompt clients to outline exactly what the return on investment of each technological asset will be for the company.
A Reverse List
Once you’ve built your core team and have adopted a hedgehog structure, now is when you need to let go of bad habits. This is where the idea of a “to-do” list becomes less important than the creation of a “stop doing” list. Your corporation is perhaps used to lenient work hours, a one-size-fits-all type of decision making structure or a focus on untested and detailed business plans as opposed to testing out the market first. It takes much time and reinforcement to change these habits, so establishing a set of guidelines for all employees to follow is ideal (HR can help communicate this with the entire corporation).
Patience is a True Virtue
If you wish to see one success follow another, then you must be patient. Anyone who told you success happens overnight was lying to you. Also, if you are currently stuck in a sphere of failure, then it is vital that you cease from adopting a reactive mentality and embrace a proactive attitude. The moment you get out of your hole, you must use every small victory and success that comes your way as fuel for the next success and the next one. Our team of expert consultants at Kevin Sheehan will work rigorously to provide you with the optimal toolbox to fuel small victories that add up to big wins.
Built on a Grounded Foundation
If your goal is to have your corporation stand the test of time, then you need to not get caught up in the single big idea, but instead focus on the team and structure that will be built to last. Sometimes setting unrealistic or unachievable goals is the way to go, as you will be forced to strive for a higher and higher level of success. However, ensure that you enroll, engage and reward employees in the strategic goals, since their positive feelings of value towards the company make the success metrics achievable. There needs to be a balance.