The highly successful companies we have studied all have the same common denominators. They are guided by a compelling vision, driven by core values, and believe and develop the potential of their most important resource, their people.
Basically there are five prerequisites for business success.
1) You must have a quality product or service: People forget the price of a service or a product if it does not meet expectations. What they do rememeber is that they are not satisfied and will not buy from you again. Quality is remembered long after the price of the item has been forgotten.
2) Proper timing in the market place: For all of you who remember the Y2K hype, the year 2000 would not be a good time to be starting a computer hardware company.
3) Capital and the ability to manage it effectively: For longivity start-up business ventures need to achieve sufficient ROI to repay stockholders and provide working capital to sustain business growth.
4) High performing personnel: In the words of Warren Buffet, “When you are looking for to people to hire, you look for these three qualities: integrity, intelligence and initiative. And if they don‘t have the first, the other two will kill you. If you hire somebody without the first, you really want them dumb and lazy.
5) High performing leadership and management. This one is the foundation for the other four. As I have worked with business owners and managers, the most common question I hear is; why don’t people just do what I want them to do?” The problem is because the employee can’t perform up to standards they are not aware of, and perform from a script they have not been given. Leadership must provide a vision, communicate purpose, and have a mission that resonates in the marketplace through the performance of the team.
Leadership & Management:
In a recent survey of non-managerial employees only 25% of the people said they had any pride in their work. 50% said they only put enough time and energy into their job to keep the job, and 25% admitted they could be more productive if they felt there was a reason to be.
Effective Leadership must exist throughout the organization because success is in direct proportion the quality and quantity of the service we render. Our challenge is making sure, on a daily basis we render the highest levels of quality service, in how we manufacture, produce and market our products. We can do this when we are customer focused and everyone understands what successful customer relationships are about. If you want to conduct an inexpensive customer survey, conduct an audit of your internal customers, the results will parallel the opinions of your external customers.
In many organizations we find people micro managed, under lead, and under inspired! We don’t need to manage people. We need to manage tasks and lead people.
If your organization is experiencing high turnover and low morale, have hope, because leadership can be learned, and with practice can be perfected. The reality is you are successful as a leader only when the value of what you produce is greater than the cost of producing it. Also, you must get high levels of quality performance from other people — and that includes every member of the organization. The challenge in today’s world is not so much in training workers, but in teaching managers to lead.
The real purpose of management and leadership is to provide for the continuation of the organization. Leaders who take the approach of innovation and growth recognize if the organization is to continue, it cannot continue as it is today.
Just as we need to meet the people needs and solve the people problems of our external customer base, we must be in a position to do the same thing for our internal customers. If we are to get voluntary cooperation and effort from other people, we must create a culture where everyone feels like a winner.
Organizational Success: Your organization can reach goals with a clear plan of action and a well-communicated vision. So the question is: What are you doing today to lay a foundation that will bring out the leadership qualities within your organization?
The need or for high quality leadership is no less required or less prevalent than any time in the past.
With the population changes world wide we are going to have to be proactive to beat the coming shortage of skills and talent.
For information on developing leaders in your organization call: Achievement Unlimited, Inc.