What should a business focus on?
These four areas of decision making are based on People, Strategy, Execution and Cash. Simple Right? Yeh!!
Today I want to share with you four decisions that every business must focus on to be successful.
Did you know that less than 4% of companies scale beyond 10 million dollars?
Consider that 23% of these firms are high impact firms that employ the majority of the people in the private sector!!
These firms are generally more than 25 years old and well established.
You see, the opportunity for a well established businesses to grow is expediential!
I have the privilege of working with many of these firms and what I love most about them is they have enormous potential for innovation, growth, and expansion.
The challenge that these firms face is that they don’t know the system and often they lack the appetite to venture forward and grow. For most they resemble an elephant, that is they are slow, heavy yet timeless. They have well-established systems and processes, but they lack diversity and agility.
The current global circumstances have led to the disruption of established ecosystems, caused economic uncertainty, and changed the way we do business. For some of these elephants, the need to adapt and diversity has come very quickly and at a price. Many have been slow to react, but have they done enough, that is the question.
So if you are one of these elephants or perhaps you are a new business caught in this uncertain environment then here are…
Four decisions that all firms must consider for staying relevant and thriving through these times.
- How do you attracting and keep the right people?
- How do you create a truly differentiated strategy?
- HOW DO YOU DRIVE FLAWLESS EXECUTION?
- DO YOU HAVE PLENTY OF CASH TO WEATHER THE STORMS?
I recommend all my clients focus on these four decisions often in fact they are on top of mind in our quarterly discussions.