On a recent strategy day session with the owners of a fast-growing business, it became evident to them that achieving their ambitious goals would require a significant shift in mindset.
In its simplest form, this meant a change in focus from growing their business to creating massive value.
Conditions for growth are optimal when the elements of finance, marketing, sales, clients, team, technology, service and delivery all work efficiently together – a well-oiled machine.
Massive value is when synergy is in play, when the combined effect of the operations delivers significantly greater results than the sum of their individual parts. It is beyond ‘growth’ and requires a shift in focus.
Here’s a blueprint of how that focus translates in business:
Strategy: ensure you’re working to a strategic business model with review mechanisms aligned to leverage, scale and increasing business value.
Management: to enable your focus to truly be on high-value work, you will require someone else to run the operational and people aspects of the business. This could be a general manager or operations director.
Leadership: a move from generalists to specialists in the senior team with an excellence programme focusing on marginal gains, next-level performance and succession planning.
Business Development: marketing, sales and customer experience departments are working together seamlessly, facilitating predictability and speed of growth.
Execution: processes followed by everyone, management driving competence and productivity, full financial controls in place
Mission: the purpose of the business is clearly communicated, and there is an emotional connection to marketplace goals & social responsibility
We’ll be exploring how to create massive value in business in much more detail in our “Scale Your Business” seminars throughout the course of the year. The seminars are by invitation only, and if you’d like to register your interest, you can do so here >>
