Business is complex, but the growth process is more formulaic. The steps are well researched and documented. The overarching processes are shared and common across all types of businesses. There are a lot of very smart and well educated people at the helm and cadres of professional resources available for guidance. So why do companies so
often miss the mark?
Understanding the values and uniqueness of each brand is essential to the process and often overlooked as the initial step. The hard work begins by making the shared practices relevant to the enterprise, creating unique components only where essential, and sequencing the work brilliantly. Each stage of the growth process requires the right blend of resources – balancing in and out of house expertise, adding the missing talent, and bringing in advisors and investors in the most appropriate phases. Leaders not assessing their own competence and agility as orchestra conductors is where the missteps begin.
I worked in 2 very large, growth oriented transformative companies. We consulted for a large number of clients –of all sizes, in different sectors and geographies. Serving on boards and as a strategic advisor and coach to companies in a variety of industries affirms my perspective that the complexities lie in the work of the company, and the work of transformation is best seen through the lens of simplicity. Keeping the transformation process straightforward and working hard to integrate the pieces is where success begins.
Agile boards and executive teams must be aligned on the purpose of the company and clear on the deep-tissue expertise as to what sets the company apart in the marketplace. Staying focused on the value proposition, uniqueness of the enterprise and the resources in place through a multi-faceted lens is imperative. Acknowledging who you are, being clear about what you are trying to become, understanding what brought you to this place, positions you to determine what’s needed to get to the goals. This work combines the pieces of the processes available to all, customizes and then applies the strategies specifically to your organization. Acquiring the resources to design and test new strategies, and to develop your talent so that they become a version of themselves for the company of the future. These multiple bodies of work need to be designed smartly, executed simultaneously, managed closely and evaluated honestly.
As soon as the implementation of the new strategies begin to produce results. it is equally important to communicate this as broadly as you are able – both internally and externally. Celebrating the wins, acknowledging the setbacks honestly, rewarding the stakeholders, and taking the time to honor the accomplishments helps permanently anchor the progress achieved; thereby creating a more solid platform to go the next mile.
The winners in any industry enjoy the journey with its twists and turns, can articulate a compelling story, assemble the right players and get on the field to win.