Figuring Out What’s Important

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If someone asked you what the three most important things are you need to be focused on this year, would you know? What do you think your managers would say if you asked them the same question?

Most people can identify what is important generally in their business; profitability, customer service, employee morale, etc. But to really make big strides in our businesses, we need to be clear on which areas for change will provide greater leverage--will yield bigger results. Unfortunately the sheer volume of work that most people manage on a day to day basis can make it a struggle to identify those big picture initiatives.

To gain clarity on what’s most important to your business right now; your two biggest sources of information are your customers and your employees. If you don’t have clarity on your three most important areas or initiatives, consider a 30-day plan of reaching out to both employees and customers to solicit their input on how they think you’re doing as an organization, and where they see potential for improvement. Figuring out what’s most important is the first step in directing resources in your organization to where they will produce the biggest results.

Implementing Your Game Changers

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So you’ve figured out your ‘game-changers’ for the year, but have you created your implementation plan? Most people can readily tell you what big capacity building projects are important to take their business to the next level, but the harder part of course, is getting them implemented!

Part of the reason ‘game-changers’ can be hard to implement, is because they are usually not something that is standing in the way of the day-to-day business getting done. Game-changers by definition are a project that usually spans several months and has several steps or sub-projects that must be completed.

The key to getting game-changers implemented is to create a timeline that breaks apart the larger initiative into smaller, incremental deadlines. Once that timeline is created, the key is to maintain a tracking system for monitoring the timeline. The goal is to keep it front and center so you’re reminded on a regular basis of what & when you committed to doing each step of the way. A good practice is to revisit your timeline either weekly or monthly depending on the length of the overall project. Ideally this practice is part of your organization’s monthly management meeting so everyone on the team is helping each other create focus and move their game-changers to completion.

What Are Your Game Changers?

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Have you noticed how the phrase ‘game changers’ has entered the vernacular of people everywhere? I like the phrase because it communicates that something is going to turn out differently (and presumably better). I explain a game changer as something that will take your business to the next level. If you maintain the sports analogy, a game changer will ‘move the ball down the field.’

It seems that the origin of the phrase was financial circles. Investopedia defines game changer as: something that alters a company’s business strategy in order to compete directly or indirectly with competitors. A ‘game changer’ alters the way that something is done, thought about or made.

Business strategies that are easy to understand are more likely to be implemented, and the idea of game changers meets that criteria. What are the game changers for your business? Examples could include introducing a new product or service, moving into a new market, or something narrower like implementing an employee retention program. So what are your game changers and have you shared them with your team?

What are you building?

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You might not think of yourself as a builder, but in fact every day you’re building something. You might be building a relationship with a new customer, building an inventory system or building a new business unit. Another way to think about what you are building is to consider the directive to, ‘begin with the end in mind.’

For many of us, the ‘end in my mind’ is sometimes rather blurry and out of focus. It’s true that some projects start out ‘half-baked’ and require the insight that comes from time and analysis to come into focus.

But in business, taking on too many half-baked ideas can lead to a waste of time and other valuable resources. Answering the question, “what are you building” is a good way to evaluate your level of clarity and focus. The primary reason we don’t take the time to answer the question is just that—it takes time.

For the next week, challenge yourself—pause before every task and ask yourself what you’re building. It’s a great little habit that will bring more discipline and focus to how you’re spending your time.

Why Does Your Business Exist?

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It may sound a bit existential, but being able to answer the question, “why does your business exist?” is an important and powerful exercise. For the purpose of this exercise, we’re answering the question from the perspective of those outside your business not your reason for the business to exist (as an example, because you thought you could build a better mousetrap).

The answer to the question of why your business exists is influenced by what you sell, but it’s more than that. How your customer’s benefit also matters, but that still doesn’t answer the question.

Ask yourself what would happen if your business went away. What would the world be missing? See if you can shorten the answer to one concise sentence. There’s power in breaking something down to its core—to the very heart of why it exists

As an example, I provide my clients with business planning and they benefit by gaining clarity, focusing behaviors, and measuring results. But, the reason my business exists is to improve the prosperity and success of privately-held businesses. It’s basically the sum total of all that your business does, and it’s reason for existing. And the good news is that getting clear on that reason and being able to communicate it succinctly lays the foundation for more strategic planning and decision making.