Winning Business

  1. Why Winning Business?
    1. 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.

     

  2. What Defines a Winning Business?
    1. Be the investment of choice
      1. The business is ethical and respectful of all stakeholders
      2. The business makes a strong return on investment, both in profit and cash flow
      3. The business continues to grow in sales, profits and cash flow
    2. Be the employer of choice
      1. “A” players throughout the business
      2. “A” players want to come work for the business
    3. Be the supplier of choice
      1. Your customers think of your business when they are making their buying decision
      2. 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.

     

  3. Leadership in a Winning Business
    1. Building and Improving a Winning Business is all about your leadership.
      1. If the business succeeds, then you and your team have won. Congratulations!!! Celebrate and give your team the credit!!!
      2. If the business is failing, then the only useful answer is that it is your fault.
        1. It is not the fault of the weather, the terrible economy, your employees, or your customers. It is your fault.
        2. 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

     

  4. How to Build and Improve a Winning Business
    1. Focus on three core principles that match up to the definition of a winning business
      1. Do the Right Thing
      2. Winning Teamwork
      3. Customer Service
    2. These three principles should guide how everyone, and especially the leaders, make decisions and act
      1. Is what I am about to do the right thing to do?
      2. Does it support the team?
      3. Does it help us in providing better customer service?
    3. Having only these three principles is critical
      1. Three principles can be communicated, referred to, and kept front in mind
        1. 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.
      2. These principles are short, simple and easily understood throughout the organization
        1. 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.

           

  5. What is “Do The Right Thing”
    1. Goal
      1. Create a business that is efficient, effective, and that you can be proud of every day
    2. Details
      1. Ethics, Integrity, and Character
        1. Everything that we do should pass the newspaper front page test
      2. Do the right thing to ensure the success of the business
        1. Make the tough decisions to build and improve the business and its profitability in both the short and the long term
        2. If the business does not succeed, none of us do.
      3. Focus and prioritize to get the right thing done
        1. Focus on our contribution. Not, our activity or doing what we like to do
        2. Prioritize on the constraint in the business – that which is important, not on what is most urgent
        3. Prioritizing means consciously deciding what not to do

     

  6. What is “Winning Teamwork”
    1. Goal
      1. Having the right people on your team fully engaged, respected, and appreciated, and focused on doing the right things energizes any business.
      2. For winning teams in business as in sport, the whole is always greater than the sum of the individuals.
    2. Details
      1. Listening and Communication
      2. Accountability with Mutual Respect and Recognition
      3. Learning

     

  7. What is “Customer Service”
    1. Goal
      1. The customer pays the bills and salaries of everyone in the company. The customer provides the profit.
      2. Success and value comes from providing the right products and services to the right customers in the right niche in the right industries.
    2. Details
      1. Value your customers and exceed their expectations
      2. Expand your business outward on the shoulders of satisfied customers
      3. Focus on a few profitable niches where you have a competitive advantage
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About David Shedd

David has been a President - CEO - COO of an up to $350M group of manufacturing, distribution, specialty retail and services companies, having led 22 different businesses from turnarounds to start-ups to fast growth companies.
This entry was posted in Leadership, Perform / Execution. Bookmark the permalink.

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