Is Your Firm Strategy Rooted In Reality?
Firm owners and managers who desire to see their firm grow and endure take time to carefully design a business strategy. Business strategies outline what needs to happen in order for the business to reach its goals. But some firm leaders do not see growth because their strategy is not rooted in reality.
It’s like a gardener who tends a beautiful plant by watering it, feeding it, positioning it in the sun, but never buries the roots into the soft soil of the earth. Instead, the gardener holds the plant suspended in air above the ground while he performs his caretaking routine. No matter how clever the caretaking plan is, if the plant is not actually rooted in the ground, it will not grow. In the same way, if your business strategy is not rooted in the realities that are within and around your firm, the strategy will not grow your business.
How can you make sure your business strategy is rooted in reality?
In Beyond Entrepreneurship: Turning Your Business into an Enduring Great Company, James C. Collins and William C. Lazier share out of their years of experience and research how to outline a strategy that is rooted in reality.
- Surround yourself with truth-tellers. This is not easy. Isn’t it more pleasant to listen to those who agree with you and praise your plans and abilities? But if you never hear constructive criticism, you will never have the full picture of your firm’s strengths and weaknesses.
- Never punish people who are telling the truth. Punishing truth-tellers is a sure-fire way to shield yourself from reality. If someone on your staff is punished for telling the truth, you can be sure the other employees are going to learn from his mistake and keep their mouth shut even when what they had to share would have been giving you an accurate picture of the company. Allow your employees to risk wounding your personal pride in order to give you the truth.
- Get the advice of outside consultants. Sometimes firm owners are so wrapped up in the day-to-day operation that it’s hard to see what’s right there in front of them. Getting the perspective of “detached and objective outsiders” can give you fresh eyes for your business strategy. Asking a family member or friend might be a good start, but a consultant can bring experience and expertise that your loved ones can’t.
- Personally stay in touch with what’s going on. Initiate conversations with your staff and really listen to their concerns. Debrief after a big deadline and discuss what worked and what didn’t. But don’t stop there. Send periodic surveys to your clients and ask them to tell you how things are going with your staff. Host a roundtable discussion group at a restaurant over lunch to ask clients how their business is going and how you can help them grow and thrive.
If you take these careful steps to stay rooted in reality, your business strategy will be a natural extension of the good that is already taking place in your firm and will guide it to flourishing growth.
Do you need an outside consultant to give you feedback or get you started on a business strategy? I have the experience and skills to guide you to a successful business strategy. I look forward to hearing from you. Please contact me.