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6 Key business success fundamentals

02-Dec-2009

I spent an enjoyable afternoon recently speaking with author John Spence about the key business success fundamentals which apply to firms of all sizes - from our fast growth entrepreneurial clients, as well as to our large multi-billion dollar clients at RESULTS.com.

John should know. He consults with companies of all sizes too.  Some of the larger companies he consults to include Microsoft, IBM, GE, AT&T, & Abbott Labs in the USA, as well as New Zealand dairy products giant, Fonterra.

John shared his views on these key fundamentals in his new book Awesomely Simple. Here is our summary:

1. A clear compelling vision (BHAG© / Core Purpose / Core Values)

Whether you lead two people or 2,000 it is critical that you have a clear, compelling and extremely well-communicated vision of where the organization is headed and what it stands for.  Especially now, a time of turmoil and change, people need the security of a clear direction to help them keep focused and productive.

2. A team full of “A” players.

The success of your business is directly tied to the quality of the people you have on your team.  Many companies say, “Our people are our most important asset,” but very view have put in place a system (like Top Grading) to make talent management a key strategic advantage.

3. Robust communications.

Be transparent.  Knowledge is power, and the more information you share with your people, the more power you give them to help your business succeed.

4. Culture of urgency.

This is not about wild, out-of-control speed.  The goal is “speed + results.” You want everyone in the business to have a strong sense of urgency, combined with clarity of focus - in terms of what are the most important Action Priorities they need to focus on and implement.

5. Disciplined execution.

Many companies have grand ambitions, but only about 10% of businesses can effectively execute on their Strategic Action Priorities in a disciplined and thorough manner.  

6. Extreme customer focus.

At the end of the day, the only critic whose opinion counts is the customer’s, and the company that owns the “voice of the customer,” owns the marketplace.

Test yourself:

Score the following statements on a scale of 1-10: (10 = “We are world-class at this, we totally rock” and 1 = “We are horrible at this; this does not describe us at all.”)

• We have a clear, compelling vision that is well communicated throughout our entire organization.
• Our company is a talent magnet. We have only “A” players on our team.
• We have lots of open, honest, and transparent communication across the entire company
• Everyone in the business works with a strong sense of urgency and focus to deliver results.
• We are fantastic at executing on all of our Strategic Action Priorities.
• We have strong, trusting relationships with our customers and listen to them intently to understand their needs, wants and concerns.

If you score a combined total of less than 50, click on this link to find out how RESULTS.com can help you transform your business potential into extraordinary results.


Stephen Lynch

Chief Operating Officer - Global Operations
RESULTS.com

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