2 key pieces of the puzzle to create a 2020/21 Success Plan.
And why they can make all of the difference.
History tells us the difference between winning and coming second is minimal.
The difference between hot water and steam is only 1 degree. Yet the impact that flows from creating lots of 1% improvement is huge.
Know your key numbers that matter and narrow the focus on what’s critical for your success.
Don’t be all things to all people.
Focus on the classics ( the key drivers) that contribute your profitable growth:
- Increasing the number of clients of the type you want ( it might be time to ditch those that don’t appreciate your products and/or service and that consume a huge amount of energy – they may be better served by someone else.)
- Improving the number of products/services that your clients buy from you (by asking great questions listening and so that they enjoy even more value)
- Get your clients to buy more frequently from you – give them lots of reasons to do so (more on this below).
Get your board and team engaged on What you can do to achieve a 1% improvement in each of the key areas that are critical for your success and can allow you to differentiate.
This might include improved engagement from your marketing, customer conversion, revenue, gross margin, debtor days, WIP throughput, response times, google reviews, testimonials, cash collections, productivity… and more.
Then have some fun on working out How you will achieve the 1% improvement. This is not overwhelming and together you will come up with loads of ideas.
Everything is possible, it’s just a matter of how.
Provide a brilliant customer experience every time.
Wear your client’s shoes and glasses. See everything about your business, product, service, brand, delivery, returns, packaging, communication, and messaging, the options you provide… from their perspective. Then let’s integrate their experience and journey into your revised business model and plan so that we ensure our customers receive the value they expect.
What do they get, how can you make it fun to work with you, to buy from you? To have your team, clients and community feel more aligned to you, to really believe in what you believe?
How can you build more trust into, and with, everything you do?
How can you reduce the risk for your client? Revisit your response times and communication.
What guarantees can you attach to your product, and build into your service and delivery?
How can you make the whole buying experience enjoyable and easy? What options can you offer so that a new customer can have an experience with your product or service before they commit?
The best businesses and the best of the disruptors have considered all of this.
They have asked for feedback on what their team and clients want and value, and have built this into their business model, customer journey and experience.
The home straight.
It’s your responsibility to remain attractive and relevant.
Great ideas are important. Implementation is everything.
Remember to ask great What questions and have an open mind engaging with all of your stakeholders on How you can improve everything you do, with consistently brilliant service that demonstrates you care about them.
Replace “So what” and give your team and customers more of “So that”.
Provide options, build trust, reduce risk so that your team and clients enjoy more from your business, product, and service. Build-in opportunities for real-time feedback that encourages authenticity.
We are after success, not perfection.
The chances are that the first 2020/2021 Action plan you redesign will now be more focussed, where all parties will achieve more of their objectives with increased certainty, though greater engagement, and with less friction.
You will have now developed a more engaging culture where you can continue to measure, manage and refine the Action Plan each quarter and year, based on what you learn, of what works, and what your customers appreciate. Review the things that you provide that fix their problems, that create opportunities, and deliver options for them so that enjoy what they buy from you and that makes them feel good.
Your business will be far more profitable, valuable, and enjoyable providing more options for everyone. And that’s a guarantee.
Alec Blacklaw – Blacklaw Advisory – is a Business Transformation Specialist providing CEO Advisory support to privately held and family business owners who are looking to create a more profitable, valuable, and enjoyable business.
If you have any feedback or wish to ask Alec a question, please reach out at email@example.com or +61 408 351403.