Profitability - how to thrive in a recession
Some businesses perform better during recessions than in the so-called good times. To achieve this for your business you need to work 'smarter' and in a highly focused way. In the current economic climate profitability coaching is second highest on the long list of topics that our clients request.
Leadership
Most successful managers are also successful leaders, motivating people towards achieving their organisation's goals and strategic objectives. Many people are promoted purely because of their natural professional competence. Few receive any formal or even informal training in management. Many resort to a style that mimics how they were parented or managed earlier in their career.
Leading change
Businesses can quickly vanish off the map when they fail to respond to market forces. As a successful leader you need a thorough understanding of ways to generate positive innovation. Communicating change in process or service should motivate rather than disrupt. Handled wrongly and your best staff and clients are going to walk; handled well and your business is going to grow. Learn to create captivating reasons for people to choose to work with you rather than with the competition. Be active in helping your clients to appreciate new reasons to buy from you rather than from your rivals.
Strategic thinking
Many entrepreneurs and business leaders are so preoccupied by working in their businesses that they forget to work on their businesses. People are naturally drawn into detail and fire fighting at the expense of appreciating the bigger picture. Do you set aside sufficient time for creating a longer term vision of the future and for taking business-critical decisions? Without management capacity to think strategically there is going to be no alignment between how you use your resources and what you want to achieve. Put directly, if everyone in your business doesn't know what you are trying to achieve and doesn't understand what they should be doing to get there, you are going to fail in your objectives.
Your new strengths and abilities
- You've got your thinking straight.
- Disruptive innovation outside the box.
- Idea 'blockers' on side.
- Avoiding the traps of focusing on detail or fire fighting.
- Clarified current market position, strengths and weaknesses.
- Identified your competition, opportunities and threats.
- Ability to assess risks.
- Mapped out your company values and value related behaviours.
- Clearly articulating your plan to your employees.
- Built capacity in your colleagues to think strategically.
Did you know?
Strategic plans are often confused with business plans. A strategic plan should be short and direct whereas a business plan is typically more substantial and detailed. A strategic plan can provide the basis for a business plan. It should be realistic and achievable so as to encourage the organisation's managers and entrepreneurs to think strategically and act operationally.
Who would benefit?
Entrepreneurs, partners, directors and senior management involved with critical business decision making and planning.
To discuss a current or potential need, contact Robin Johnson at OvationXL
on 0845 260 7700 or