This blog originally published in Printing Impressions.
Working on your business is not a luxury, it’s a must do. The challenge is to find, and make the time to do it. Take a good look at how you’re spending you time and whether or not you are consumed by the critical or non-critical issues of the day. Then you need to assess your team and whether or not you have the people in place to help you reach your goals. And, don’t allow yourself to be limited by marginal performance and remember, you get what you tolerate.
Generational Opportunities
Remember, we know what we know, and what we know is based on our collection of experiences, what we’ve read, what we’ve seen, and what we believe. Within your current team you may have a range of experiences and you would do well to listen to and understand their views on the business. Those collection of ideas can go a long way for two key reasons. The first is that you can get better buy-in from a wider cross section of your team members. The second, is now you have the ability to leverage those ideas to make 1 + 1 = 3, and create a strategy that is fueled by your team and probably one that could not have been produced in a vacuum.
Determined to be Great
Once you’ve shared the plan and vision for the business, it’s imperative that you have a team that is aligned and focused on helping to achieve those goals. You shouldn’t confuse loyalty and longevity for alignment. Don’t misunderstand, we want loyal team members who stay with us, but, you need to make sure they still share the vision and have the necessary skills to get you to the next level. And those skills will vary based on what you’re trying to accomplish. For example, choosing to be the very best at what you currently offer is different than transforming your business to its next chapter. Two different paths, with a different set of skills attached to each. That’s where the alignment part is so critical.
Areas of Focus
Here are some things to think about. First, you’re not alone, and don’t think that you have to re-invent the wheel as there are those who have probably tackled the same issues that are currently on your plate.
- Don’t hesitate to make the right decision, even if it will upset the feelings of a family member or long-time employee.
- Keep everyone accountable for holding up their end of the business. This goes for all members and it goes double for family members.
- Weigh investment and business direction decisions on their business merits and not solely on hunches.
- Work hard and work smart to protect the family interest and continue the legacy of the business.
- Take advantage of the new ideas, particularly from the younger generations to expand into areas that you may not have thought of before.
Give this a try and let me know how it works out for you. Good luck and remember, doing nothing is not an option!
Mike Philie can help validate what’s working and what may need to change in your business. Changing the trajectory of a business is difficult to do while simultaneously operating the core competencies. Mike provides strategy and insight to owners and CEOs in the Graphic Communications Industry by providing direct and realistic assessments, not being afraid to voice the unpopular opinion and helping leaders navigate change through a common sense and practical approach. Learn more at www.philiegroup.com, LinkedIn or email at mphilie@s756788055.onlinehome.us.
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