“How Not to Lose Synergy So Your Team Moves Your Business (Forward)”
Small Business Coaching Houston
“Synergy is better than my way or your way. It's our way” – Stephen Covey.
Synergy is about creating a bigger sum from joining smaller parts. Obviously, it plays a big role in business. And a company’s vision and mission depend on it.
As a Profitability Coach, I ask business owners, “Can you achieve your goals with no synergy in your business? That probably wouldn’t happen, would it? Most businesses realize it. Eventually, you know it is all about doing the right things right.
Scores of examples show how businesses failed. Daimler and Chrysler is one such example of a merger. Culture clashes thwarted synergy between the two. The merger fell apart. And experts labeled it a “big failure”. Why? Simple. No synergy.
Synergy is not just an issue companies face when they merge with other companies. Even if you are an owner of a small business you need synergy. You need it in strategic planning for small business. People in your team need to pull forward together. Without this binding force, you will lose momentum in your business.
1) Never forget the company mission
A mission statement is all about having a core purpose. It answers these questions:
- Why the company is doing what it is doing
- Why employees believe in passionately doing what customers need
- Why customers would look for us when we aren’t around
- What is the bigger reason our company exists
Have you ever seen success when different units of the same business move in opposite directions? It just doesn’t happen. Most businesses suffer from exactly this issue. And many don’t see it until it’s too late.
Make your employees realize the purpose of your company. Display it in a common place. Offer them a performance incentive plan. Such steps make people treat the business as their own. And you’ll find a great way to motivate them in carrying out the company’s mission.
2) Carry out your company's core values
Core values are “must do” and “must never do” items. Define them in a way that it becomes a default standard. If an ethical issue stymies you, well-defined core values would clarify what you should do.
Core values could change in time. Once they solidify, they will act as a manual directing anyone.
3) Set your targets
Targets are goals that affect your company in the next 3 to 5 years. Most people know that leaders in companies influence them. They exist as long as the leader exists.
If your company doesn’t need new goals, that’s okay. Your leader may decide to refocus people using existing goals. It may bring fewer goals and greater clarity. Such steps could produce unprecedented results when people dive down like an eagle from the sky. That’s the focus it will bring to your company.
4) Set your yearly goals
If you know what your main priority is, you will get there. For example, if you have to install 15 doors each week in your door business and that’s your main task, people will achieve it. Make it clear to them in your Strategic Plan.
5) Your quarterly goals next
Even if you have yearly goals, it makes sense to have 90-day goals. It’s one key performance measure that aligns with the company objectives.
Use 2 or 3 priorities to support this measure. It’s important that your full team is onboard. That’ll make it easy for them to achieve this single goal.
6) Your weekly meeting
Each week, hold a meeting. Go over actions that will lead to results. Get a handle on risks. Such meetings produce rhythm and routine. Such routines when joined with goals produce effective results.
However, assign only one owner for each action. Keep the meeting at an hour, max. That’s when you can get the right results.
7) Daily snippet
Hold daily meetings for no more than 10 minutes. Get the top issues to track progress. Discuss the blocks to carrying out your plan. Such meetings track your derails. They spot new opportunities that elude bigger meetings. They save time from emails. They help you get over interruptions.
So make use of the opportunities to avoid hassles, save time and reach goals.
You might not notice but the most important of all meetings is this daily meeting. It sets the tone for your weekly meetings.
That’s it. Now you have the blueprint. Build your strategic plan. Strategic planning for small business can save you years of hassles if you start believing in “our way”.
Want even faster results? Are you ready to discover how? Schedule your Explosive Business Results session now.
Written by Suresh Iyengar, P.E., President, Business Unit Execution LLC––“Explosive Business Coaching Houston Results For Small Business”. Want even faster results? Are you ready to learn? Call 281.410.5375 and speak to your Profitability Coach Houston
“Are You Losing Control in Your Business Because You’re Doing it All (Recover Now)”
Small Business Coaching Houston
“The greatest leader is not necessarily the one who does the greatest things. He is the one that gets people to do the greatest things” – Ronald Reagan
People loved Ronald Reagan. He showcased powerful leadership skills. And his quote typifies the importance of effective delegation. A person can never be a great leader unless he learns how to delegate his work to others.
Once you start a business you quickly realize that you will have tasks you wish you didn’t have to do. You also figure out that you couldn’t possibly manage the entire business all on your own and still make money.
Take the example of Soyini Chan-Shue who worked in the New York Police Department. Many worked under her. She did it all herself. But when she started her own security firm, she found it hard to delegate. She is running a successful business now. However, all wasn’t as rosy when she started. Like most entrepreneurs today, Chan-Shue wanted to keep the reins of the business in her hands.
She faced challenges in trying to do it all herself. That’s when she quickly realized she had to delegate. At least she had to delegate so she could focus on the tasks that made her money. Now her business flourishes with every passing day. Thanks to her ability to delegate.
1) How important is delegation?
Research shows that many small business owners are reluctant to delegate their work to other people. Even though they have hired sub-ordinates to do their work, they still don’t feel safe. They feel insecure. Giving up authority to anyone isn’t easy. This is common in small businesses. People believe that they can control and manage their business. They underestimate the work because of their smaller size. But size is irrelevant.
Delegation is critical, regardless of size. You pay people for their skills and expertise, don’t you? Ask yourself. Why would you want to pay someone if you don’t want him or her to do the work? It just makes no sense. Yet most business owners make this mistake anyway.
2) The pitfalls of doing it all yourself
Nobody can deny that entrepreneurs persevere. Otherwise they wouldn’t be in it. They want to see their business flourish. They want to become successful. Yet success comes with trust. Trust in your people. Just like your customers have to trust you, you have to trust your team. Doesn’t that make sense?
Small business owners shoulder the full burden of their business. They might feel like they are contributing heavily. However, the stress and business burden could take over your passion. Small business owners who keep it exclusive to them could suffer from increased anxiety. Their endless passion, good in the short run, could damage their business in the long run. Instead of having full control on their business they could lose total control of their business.
3) How to control your business and start delegating
Greet and talk to your team daily. This will help you develop trust inside your team and that could help you effectively delegate tasks. It is part of the strategic planning for small business. You discover the benefit in delegating the right tasks to the right people. Evaluate the skills and character of your employees. This will allow you to divide your work. You could do it effectively knowing the abilities and interests of your staff.
Besides, you could also hire a small business coach. Hiring a small business coach will help you put together a delegation plan. Acting on the advice of your small business coach will let you control your business. And you will do it in a way that carries your business.
Want even faster results? Are you ready to discover how? Schedule your Explosive Business Results session now.
Written by Suresh Iyengar, P.E., President, Business Unit Execution LLC––“Explosive Business Coaching Houston Results For Small Business”. Want even faster results? Are you ready to learn? Call 281.410.5375 and speak to your Profitability Coach Houston