5 Practical steps to drive business success.

In First Things First, Stephen Covey says “People expect us to be busy, overworked. It’s become a status symbol in our society — if we’re busy, we’re important; if we’re not busy, we’re almost embarrassed to admit it. Busyness is where we get our security. It’s validating, popular, and pleasing. It’s also a good excuse for not dealing with the first things in our lives.”

You run a business and you are committed to its success. You have spent considerable time and effort recruiting a quality team with the right attitude, skill set and industry knowledge. So how do you drive this high quality team to achieve the desired results?

Incorporating supply chain capability into an effective marketing plan is as important as product and channel strategy. Supply chain is an important element of competitive advantage where the business seeks to develop multiple distribution channels in order to diversify the customer base and reduce customer concentration risk.

Research has consistently shown the link between engaged staff and increased profitability. However the facts tell another story. A recent UK a survey reported that only one third of British staff felt they were highly engaged at work with only 48% saying they were only moderately engaged.

The old management adage says you can’t manage what you don’t measure. Overall Equipment Effectiveness (OEE) tells you how well your machine or manufacturing line is performing and can help you understand where to focus your improvement efforts.

A SMaC recipe is as relevant to a SME (Small & Medium Enterprises) business as it is to a large Corporate. SMaC is a key strategic ‘tool’ for SME’s in order to achieve their owners’ Vision and to improve business performance – and it’s easy to do.

Big, stable businesses and even whole industries can effectively be wiped out by not acting quickly enough when their marketplace changes. Strategic planning and longer-term thinking are now essential practices for business survival.

Just last week, I sat down to a fascinating presentation from Lynn Leahy on the topic of stress among senior business leaders. As I looked around the room at the attendants, it was clear that many were experiencing that same stress and could benefit from building their resilience towards it.

There are few decisions a leader can make which can positively impact as much as improving employee engagement. For the most part it costs little, it feels good and its financial benefits are many.

Being the Managing Director and also the major shareholder of a private or family company can be a lonely role. Staff are sometimes reluctant to voice their opinion and even when they do, the viewpoint is often influenced by the subservient employee position. An advisory board brings independent, considered advice without the negatives, for either party, of a statutory Non Executive Director.

I am often asked what makes a good Independent Director. After many years of sitting on Boards and advising Boards I have found there are a number of key skills that sets you apart from the rest....unfortunately, there are also some traits that are best not seen in the Boardroom.