Many small and medium sized enterprises [SME] owners already know what needs to be done to grow their business but lack the time and/or resources to bring about the necessary changes.
Others may simply be reluctant or restrained by tradition to make a shift.
Change is difficult.
This series attempts to help answer the question, "How will owners [like me] make the necessary changes to aggressively grow their business in 2014 — and beyond?”
NewBase 19 April 2024 Energy News issue - 1717 by Khaled Al Awadi.pdf
LIFT Business Growth Report 2014: Part 1
1. 156
REPORT
156
2014 - 2019
SME Business Growth
Executive Summary and
Organization Assessment
Part 1
Best practices based on work done with over 200 SME’s and 33 Fortune 500 companies
Many SME owners already know what
needs to be done to grow their business
but lack the time, energy and resources
to bring about the necessary changes.
Others may simply be reluctant or too
embarrassed to make a shift.
Change is difficult.
This series attempts to help answer the
question, "How will owners like me
make the necessary changes in 2014?"
LIFT | LLC
. Michael Linder . 616.460.3395 . michael.linder@comcast.net
2. 2014 - 2019
SME Business Growth Executive Summary
Growing revenue or protecting hard won growth since 2008 continues to become
more difficult, competitive and complex than ever. And while the stock market
has broken 16,000 for the first time, for most SME’s the complexities of business
growth in these turbulent times remain challenging — if not draining.
SME’s are feeling the increasing weight of:
§ The anxiety associated with having the majority of the organization’s revenue
resting with one or two major customers
§ An inability to hold sales channels accountable for poor results
§ The escalating costs — and business risks — of trial and error
156
REPORT
Part 1
This exclusive, 3-part executive summary, based on best practices learned from
working with over 200 SME’s and 33 Fortune 500 companies, attempts to help
SME’s effectively deal with these rising challenges, as well as the trials of:
§ Reducing waste in terms of time, effort and capital
§ Reducing risk in terms of losing great employees and customers
§ Protecting or aggressively growing revenue despite a weak economy
Part-1 of the SME Business Growth Executive Summary and the accompanying
organization assessment focuses on 5 keys to driving SME business growth over
the next 5 years.
1. Is Your Company Perfectly Designed to Get the Results It Is Getting?
Your organization is currently executing at a certain
level of performance. That level of execution is
delivering a certain result. Sixty percent [60%] of
Desired Results
SME’s are executing at a “below average” to “at risk”
level of performance and thus, are perfectly designed
to deliver a “below average” to “at risk” result for their
Current Results
stakeholders. Execution = Results.
In order to achieve a more desirable result, top
performing SME’s are committing to changing the
organization’s ability to execute at a higher level [i.e.
strategy, processes, operating model, culture, etc.].
LIFT | LLC
E = R
. Michael Linder . 616.460.3395 . michael.linder@comcast.net
3. 2014 - 2019
SME Business Growth Executive Summary
2. Are Self-Interests Superseding the Interests of the Company?
These are tough times. Tough times often lead to self-preservation thinking. Staff
may be thinking, "I won't suggest this idea — it might eliminate my job!" Leaders
can be tempted by compensation plans that work great for a few, but not for the
majority of stakeholders. SME leaders need a peer group, an external sounding
board or a trusted, objective advisor who is free to ask good questions that help
keep the interests of the company first.
3. Lost a Fresh Perspective?
It happens to everyone — work within the structure, culture and resources of any
organization long enough and your perspective conforms to the limitations of the
situation. The organization loses its ability to ask the right questions that lead to
innovation. Invite and reward staff for sharing alternative ideas, invite criticism,
seek nay-sayers or those with broader experience to keep a fresh perspective.
156
REPORT
Part 1
4. What Problem[s] Do You Solve…and for Whom?
The bigger the problem[s] your company solves — for the broadest possible
market[s]— will determine your company’s revenue potential. Can you and your
key leaders articulate, and agree upon, the problem[s] your company solves and
for whom? Are you solving the right problem[s] for the right market[s]? Can your
company solve a broader set of problems than you’ve currently imagined? These
are critical questions to continuously ask your company and your customers!
5. Are All Key Stakeholders In Agreement with Your Growth Plan…Really?
One of the hardest things for the leader of any organization to get is the truth.
Self-interest and self-preservation are factors in almost every owner-employee
relationship. Thus, staff may say they are on board, but…
Are all key stakeholders working in sync to deliver on your big vision, strategy
and what makes your company unique? Consider, 80% of your employees may
not even know or agree on what makes your company unique. If your team does
not know or agree on what makes you unique, can you really agree on strategy?
Having a third party “safe haven” help you collect honest feedback and ideas on
how to improve the business, combined with effectively led planning, enhances
the quality of any organization’s communication [i.e. truth telling] and team work.
LIFT | LLC
. Michael Linder . 616.460.3395 . michael.linder@comcast.net
4. 2014 - 2019 SME Business Growth Assessment
How Effective Is Your Business Growth Plan?
Your
Read each statement and rate your response:
1, 3 or 5
“5” = Execute at the highest level and have a plan to continue to do so.
Rating
“3” = Need work, but have a plan and path to excellence.
Here
“1” = Need help.
As a company, we know what needs to be done to aggressively
grow our business and we are effectively doing it.
As a leader in our company, I am very content with our
company’s execution and ability to drive top line growth.
My company possesses an industry leading sales and
marketing system.
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REPORT
Part 1
As a leader in our company, I am very confident we consistently
act in the best interest of all key stakeholders.
As a leader in our company, I am highly skilled at facilitating
team planning sessions in a manner that creates high quality
dialog and group buy-in.
My company excels at asking ourselves the right questions that
lead to innovation and breakout performance.
My company has clearly defined the problem[s] we solve
and for whom, and are united in how we execute to solve
each problem in the market.
Each key stakeholder in my company is fully aligned, committed
and working together — on a high level — to execute the
company’s well documented strategic and operational plan.
Total Score
33 or more = Executing at a high level.
17 to 32 = Need work, but may have a plan and path to excellence.
16 or under = May need help.
LIFT | LLC
. Michael Linder . 616.460.3395 . michael.linder@comcast.net
_______
Total
Score