Refocus on improvement, not Growth
Refocus on Improvement, not Growth
Boards, owners, managers and investors are often addicted to growth. More revenue, increased profits, additional locations, more customers, additional products – bigger, bigger, bigger. To a degree, striving for growth is understandable, even laudable. However, growth should not be the goal at the cost of the values of the business or credibility will be quickly lost.
Improvement in work processes, in employee and customer relations, in service delivery – in all facets of the business – are preferential to growth at all costs. Obviously, the main reason behind this is that the business will be far better-paced to embark on a program of growth after it has an entrenched program for business improvement.
Furthermore, it is highly probable that the business will grow as a result of having such a program in place. It will be known for its superior customer service and will be known as a workplace of choice by prospective employees. Such a reputation ensures that the good word is spread and business will increase as a result.
So, what are some of the elements of “business improvement” that will establish a great foundation for growth? We suggest a two-pronged approach: People and Process.
You can have the best business model in the world, the best systems and a great product; however, if you don’t have people around you who are committed to your vision and are on the same page regarding how to bring the product or service to your customers, it all means for nothing. So, by ensuring your people are the right people, that you’re developing them as employees and individuals and that you’re engaging with them every step of the way is vital to laying the foundations for future growth.
Once you’re sure that the people are right and that a great workplace culture is being built, you can tap into their expertise by establishing the best workplace processes to ensure clarity for future employees and a consistency of product and/ or service for customers.
By focusing on people and processes, the business will not fail to improve, providing the very best foundation for growth.