May 29, 2009
Question 1: How would you like to outperform your competitors by 300%? That’s what I thought; of course you would like to achieve this result.
Question 2: Can it be done? The next hurdle we usually find is mental. It is hard for some business owners to believe that they can achieve this level of success. Well, the facts bear out that you CAN! In order to make the cut for Jim Collins’ Good to Great study, you had to outperform the general market by at least 3 times. If any one company can achieve these results, then that means it is theoretically possible for ANY company to do so as well.
Question 3: How do you accomplish this feat? There is a system to outperforming the competition that you can follow. Success is a science, but it is not rocket science. The good news is that all you have to do is some very ordinary things better than others are willing to do them.
Question 4: What is this mysterious system? It is a paradigm called working ON your business.
Question 5: What exactly is working ON your business? It involves the following building blocks:
- Defining your Vision, Mission and Values.
- Clarifying your Critical Success Factors and Key Performance Indicators.
- Documenting Standard Operating Procedures to help you and your team execute on your Critical Success Factors consistently, predictably and reliably.
- Completing a Strategic Planning exercise that answers the question of how you are going to compete and win in the marketplace by being different.
- Creating an Organizational Structure that is appropriate for your unique vision, mission, values and strategies.
- Manipulating the variables in your Business Model to maximize profit, cash flow and return on investment.
Please tell us your life changing questions.
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