In the world of business, clarity is the cornerstone of sound decision-making. Whether you're a board of directors, business owner, or a general manager, your choices greatly impact your organisation's success. To get good clarity though, you need to test assumptions. In this blog I’m going to give you three simple things to think about when it comes to getting clarity around your business direction and decisions.
First and foremost, clarity is paramount.
Be crystal clear about your business strategy and objectives. In doing this, you'll create a roadmap that keeps your team aligned and focused on the common goal.
I recently finished the book, American Icon, by Bryce Hoffman, which was about the Ford Motor Company and the CEO Alan Mulally – READ MY BOOK REVIEW HERE. As Mulally puts it, ‘the plan provides both purpose and direction for the organisation’. So, articulate your strategy in simple terms, ensuring everyone understands what your business is striving to achieve.
It's not enough to just have a plan.
You must also cultivate your team and nurture leaders within your business. I often use the term ‘leaders building leaders’. I don’t mean leadership in a traditional hierarchical sense, but people stepping up and taking accountability for themselves and their teams.
Mulally believed in the power of people. He understood that people are the most valuable asset in any business. ‘Invest in training and mentorship to develop the skills and capabilities of your team members. Encourage leadership qualities to emerge from within, promoting a culture of growth and development’.
When it comes to plans, implementation is key.
Pay meticulous attention to detail during the day-to-day things that need to get done. As Mulally said, ‘execute ruthlessly’. Focus on task completion and continuously monitor progress against milestones. Mulally used to have weekly BPRs (business plan reviews) with all of his direct reports every week. This is where they would constantly review where they were with regards to the plan, adjust if needed, then get on with business.
Remember to maintain an active sales strategy, always seeking new opportunities.
Mulally and Ford's leadership team understood that they needed to change Ford's 'business as usual' mindset and encourage their people to take calculated risks. So nurturing client relationships is equally crucial, keep looking for sales opportunities and manage and enhance those connections.
Never underestimate the power of data.
Regularly monitor key metrics and trends. Manage cash-flow efficiently and make sure the team is able to see the data – every week. Data-driven decisions are your best defence against uncertainty. It’s not a case of just having the data, or the senior leadership team understanding it, but for all of the team, regardless, where they sit within the business, to understand the key numbers that sit around their roles.
Remember, while we can't control election outcomes (our ability to vote aside) or external factors, we can control our reactions and commitment to excellence. In the words of Mulally, ‘The most important thing is to keep moving forward and to focus on delivering results’. By following these principles your business cannot only weather the storms of change but also emerge stronger and more resilient, regardless of what government is in power.
