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Why Winning Business?
- As the leader of your company, you win personally when your business wins. Success in business is about winning. The money is important, but true long-term business are built and improved because the business leader has the vision to succeed and to win.
- As the leader of your company, you win personally when your business wins. Success in business is about winning. The money is important, but true long-term business are built and improved because the business leader has the vision to succeed and to win.
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What Defines a Winning Business?
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Be the investment of choice
- The business is ethical and respectful of all stakeholders
- The business makes a strong return on investment, both in profit and cash flow
- The business continues to grow in sales, profits and cash flow
- The business is ethical and respectful of all stakeholders
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Be the employer of choice
- “A” players throughout the business
- “A” players want to come work for the business
- “A” players throughout the business
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Be the supplier of choice
- Your customers think of your business when they are making their buying decision
- Your reputation and brand has a value that customers are willing to pay a premium for and that differentiates you from others in the market.
- Your customers think of your business when they are making their buying decision
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Leadership in a Winning Business
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Building and Improving a Winning Business is all about your leadership.
- If the business succeeds, then you and your team have won. Congratulations!!! Celebrate and give your team the credit!!!
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If the business is failing, then the only useful answer is that it is your fault.
- It is not the fault of the weather, the terrible economy, your employees, or your customers. It is your fault.
- By accepting that it is your fault, you set a positive example of accountability in the organization, and you take responsibility to take the actions that will make it better
- It is not the fault of the weather, the terrible economy, your employees, or your customers. It is your fault.
- If the business succeeds, then you and your team have won. Congratulations!!! Celebrate and give your team the credit!!!
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How to Build and Improve a Winning Business
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Focus on three core principles that match up to the definition of a winning business
- Do the Right Thing
- Winning Teamwork
- Customer Service
- Do the Right Thing
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These three principles should guide how everyone, and especially the leaders, make decisions and act
- Is what I am about to do the right thing to do?
- Does it support the team?
- Does it help us in providing better customer service?
- Is what I am about to do the right thing to do?
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Having only these three principles is critical
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Three principles can be communicated, referred to, and kept front in mind
- We have all read or seen those corporate guidelines that consist of 10 – 15 themes, principles, or ideas. Do you think that anyone in the company, even the leader, can recite the full list? I do not think so.
- We have all read or seen those corporate guidelines that consist of 10 – 15 themes, principles, or ideas. Do you think that anyone in the company, even the leader, can recite the full list? I do not think so.
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These principles are short, simple and easily understood throughout the organization
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Short and simple – do the right thing, winning teamwork, customer service. I can remember, I can keep front of mind, and I can use to guide my decisions and actions.
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What is “Do The Right Thing”
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Goal
- Create a business that is efficient, effective, and that you can be proud of every day
- Create a business that is efficient, effective, and that you can be proud of every day
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Details
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Ethics, Integrity, and Character
- Everything that we do should pass the newspaper front page test
- Everything that we do should pass the newspaper front page test
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Do the right thing to ensure the success of the business
- Make the tough decisions to build and improve the business and its profitability in both the short and the long term
- If the business does not succeed, none of us do.
- Make the tough decisions to build and improve the business and its profitability in both the short and the long term
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Focus and prioritize to get the right thing done
- Focus on our contribution. Not, our activity or doing what we like to do
- Prioritize on the constraint in the business – that which is important, not on what is most urgent
- Prioritizing means consciously deciding what not to do
- Focus on our contribution. Not, our activity or doing what we like to do
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What is “Winning Teamwork”
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Goal
- Having the right people on your team fully engaged, respected, and appreciated, and focused on doing the right things energizes any business.
- For winning teams in business as in sport, the whole is always greater than the sum of the individuals.
- Having the right people on your team fully engaged, respected, and appreciated, and focused on doing the right things energizes any business.
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Details
- Listening and Communication
- Accountability with Mutual Respect and Recognition
- Learning
- Listening and Communication
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What is “Customer Service”
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Goal
- The customer pays the bills and salaries of everyone in the company. The customer provides the profit.
- Success and value comes from providing the right products and services to the right customers in the right niche in the right industries.
- The customer pays the bills and salaries of everyone in the company. The customer provides the profit.
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Details
- Value your customers and exceed their expectations
- Expand your business outward on the shoulders of satisfied customers
- Focus on a few profitable niches where you have a competitive advantage
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David M. Shedd - Move Your Company Forward 