Will your business stand the test of growth? Lasting businesses invest in continuous improvement and solid project execution to enable their growth.
Keep improving as you grow.
Whether through organic growth, acquisition, capital infusion or diversification, businesses grow through stages, and what made a business successful in one stage may not carry it into the next. As your business grows, the alignment you had with your founding team may not hold together in the same way. Processes, systems, team capabilities, and the careful management of culture become critical for alignment and productivity.
Successful companies have clarity around their financial performance and how to leverage their success. They know that working hard and smart is better than just working hard. They know that the way they deliver for and interact with their customers is what drives satisfaction and loyalty in the market. And, they know that talented and valuable employees are more engaged when they are not wasting their time on non-productive work. Because of this, they create a culture of continuous improvement.
Invest in your improvement portfolio.
Because there is only so much organization and financial capacity to invest in continuous improvement, it is critical to prioritize initiatives so that you are making investments where they will have the greatest impact on the business. Think of it as investing in a portfolio of improvement initiatives to grow your business. That doesn't mean you only advance initiatives with the highest ROI, but this approach helps the whole team stay focused on driving business impact and making informed decisions.
Manage initiatives like projects for success.
Plan and execute your initiatives with clarity on your objectives. Build a cross-functional team of people necessary to do the work, but also the executive sponsorship and key leaders who will resolve conflicts, remove roadblocks, and be accountable for the business impact. With all of the right team involved in planning and execution, you will improve your chances of success, because everyone will know what has to be done, by whom and in what sequence to avoid issues and re-work.
What's your next move?
Maybe your next improvement initiative involves developing an onboarding process, improving sales performance, getting more value out of your supply chain, improving your fulfillment process, upgrading your financial and reporting systems, or relocating to a new location to support your growth. With a method, resources, and tools that support the continuous improvement of your business, you can ensure your growth won't skip a beat, and your best employees will thank you for it!
Axellium is a professional service firm founded by executives with over 25 years of growing successful businesses in a variety of industries locally and around the globe. Our team, methods, and tools enable us to help you reveal opportunities for improvement, and help you achieve results through project execution. To learn more, please visit www.axellium.com or contact Robert Kelle at 714.988.6440 or rob@axellium.com