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Completing the Corporate Puzzle

Posted by adamvital

Completing the Corporate Puzzle

In the last post, we talked about the first three of the seven specific areas you need to consider in your business. Here are all seven again:Corporate Puzzle

  • Primary Aim
  • Strategic Objectives
  • Organizational Strategy
  • Management Strategy
  • People Strategy
  • Marketing Strategy
  • Systems Strategy

 

These seven areas will solidify your plan for the ultimate level of success. Today we are going to cover the last four.

Think of constructing your business model like planting a tree. At first, it’s so small and weak you wonder if it will even make it through the night. But, you keep watering, fertilizing and nurturing it. Your ideas will grow the trunk and each of these strategies will extend out as the branches of your now strong tree. Finding the perfect support staff, employees, vendors/suppliers and other relationships will make your tree flourish with leaves and flowers.

Management Strategy

The way you structure your management team is not only essential to your growth, but the happiness of your employees and, ultimately, your customers/clients. This strategy is results-oriented and doesn’t depend on the people, but the actual system that’s in place.

A management strategy is, in short, a set of standards that include goals, rules, a mission statement and other concrete things that tell your employees how to act, your management how to grow your business and your customers/clients what to expect.

These should all be in perfect alignment with your business goals.

Employee Appreciation

You need to put together a people strategy that shows your employees how you feel about their job performance and dedication to your business. They also need to understand “why” they are doing specific tasks. This helps them to personally connect to their job which in turn leads to better production and a happier workplace.

There are a number of strategies you can use to keep people engaged:

  • Performance Incentive Programs
  • Contests that reward high performance
  • Employee of the Month
  • Performance/Holiday Bonuses

These are just a few of the ideas you can use. One of the best ways to appreciate your employees is by calling a meeting and asking them how they would like to be rewarded. Think about it for awhile and put the best strategy into play. Keep it fresh and change up the strategy you use from time to time because once they get used to the prize, it’s time for a whole new approach.

You need to build a community within your company. There needs to be support, appreciation, trust, and respect. The more “at home” an employee feels, the better they will perform and the higher their level of loyalty.

Marketing Strategy

Marketing is, of course, essential to the success of any business, but it also must work cohesively with the other strategies you’re using. There are two major pillars of a successful marketing strategy: the demographic and psychographic profiles of your customers.

The psychographic tells you what your customers are the most likely to buy and the demographics tell you who they are, which can help you learn why they buy specific items. Without this information, it simply doesn’t matter how good your business prototype is.

Systems Strategy

There are three types of systems in every business:

  • Hard Systems
  • Soft Systems
  • Information Systems

Hard systems refer to necessary inanimate entities and architecture required in the business. Soft systems are processes and procedures that involve people. Information systems comprise everything else, including customer data, product information, financial…anything with data and numbers.

The most important is the soft systems because these include the sales process and sales operations for your business. In this framework, the two keys to success are effective structure and quality substance.  The substance is what you sell and structure is how you sell it.

All three systems are essential to the success of your business, each having their own very specific roles, and yet they all must work together to get the job done.

In summary, there are seven specific areas you need to consider in your business. Here are all seven again:

  • Primary Aim
  • Strategic Objectives
  • Organizational Strategy
  • Management Strategy
  • People Strategy
  • Marketing Strategy
  • Systems Strategy

We can help you work through all of these areas and give your business a jumpstart that puts you ahead of your competition right from the start.  You can contact me by phone at (281) 817-7391 or by email at adam.vital@avbgs.com.

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