Key Question to Ask Yourself Right Now: Would you enthusiastically rehire every member of your team?
Yes or No? If not; this is a huge opportunity for growth. The truth is; in the United States, we spend roughly 60% of our waking hours at work. The final competitive advantage in business is having a cohesive team of A-Players. The story has played out over and over in sports. The franchise builds a team of All Star players but they get beat by the underdog. The reason they get beat is everyone is out for themselves and there’s no trust or accountability within the team.
For your business to scale up successfully; you must have the right people on the bus in the right seats. AND; doing the right things, right. We will look at how your organization is structured now to determine what needs to change and then implement the most effective structure and develop your management teams to lead and manage effectively.
Having a cohesive culture of A-Players is the very hardest competitive advantage to replicate today. Master it, and the moat between you and your competitors get’s wider and deeper.
In our coaching we will focus on tools and processes to find, hire, and build A-Players in your company that are both high performing and accountable.
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Key Question to Ask Yourself Right Now: Does everyone on our team know where we are going in 10 years and 3 years?
If not; how motivated are they every day and week to focus on key priorities for growth? I coach clients to develop a 36 month plan to hit their 3 year goal.
The 3 year plan is the key to effective strategy: How will you differentiate from your competition? If you’re not differentiated in a way that is valuable to customers, you will be forced to compete, lower your prices, and growth will be stalled.
Strategy is not about being the “best”. Strategy is about focusing on a narrow subset of the market, approximately 7% only. Then identifying how you can develop monopoly control of that market or 70% market share.
Great strategy informs the opportunities that we as an organization will consistently say “no” to in order to become great!
“People think focus means saying yes to the thing you’ve got to focus on. But that’s not what it means at all. It means saying no to the hundred other good ideas that there are. You have to pick carefully. I’m actually as proud of the things we haven’t done as the things I have done. Innovation (strategy) is saying no to 1,000 things.” –Steve Jobs
Where will you play as an organization and how will you ultimately win are the questions we answer in our coaching. Then getting the team aligned around a 36 month plan to own a space. Then develop brand promises and guarantees that create word of mouth marketing about your company and it’s unique abilities.
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Key Question to Ask Yourself Right Now: How many months in the last 36 months have we hit our goals? And how often am I (CEO) having to play “firefighter”?
One of the greatest challenges of fast growth companies is sloppy execution. But without consistent, repeatable execution, the company will hit a ceiling. Both revenue and profits will plummet. And the company will stall.
In order to grow quickly; you don’t need to sacrifice profit margins to weak execution. Improving execution habits will not only drastically reduce the time to manage the company but create 2X to 3X industry average profit.
My focus as a coach is to help you and your team set up a consistent/repeated meeting rhythm, focus in on the handful of KPIs that need to be reported on and managed to, then set 1 year and 90 day priorities that align with the three year plan.
We then cascade these 90 day priorities throughout the company with every single team member playing a part in growing the company with clear line of site how their efforts impact the long term vision and short term results.
Everyone has 3 to 5 KPIs they own and report on weekly to simplify management from a helter-skelter style of micro-management to simple meetings with accountability that’s built in.
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Key Question to Ask Yourself Right Now: How many months of fixed cost do we have in cash? How can increase it?
Cash for a business is just like oxygen for you and I. The faster you pedal your bicycle, the greater the demands your body has on oxygen. The faster your business grows, the more it sucks cash down.
Running out of cash creates a lot of short term stress and problems. We use specific tools to identify the 7 key levers on your balance sheet and profit and loss statements to push on just a few % at a time, then see what impact they have on profit and cash. With this information, we make plans to increase cash and profit each quarter.
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