As a business leader, there are so many things to think about. We must focus on the safety of our operation. Cash management is critical. \u00a0Assembling a high -performance team of employees is a must. And the list goes on and on.<\/p>\n
As a leader, it\u2019s critical to ensure your company stays focused on what matters. I cannot tell you how many times I have heard, \u201cIf we only would do this or that, the business would take off,\u201d or, \u201cIf only I had this product or that product, we could sell a ton of them.\u201d<\/p>\n
While there are many good and bad ideas, the challenge for you and your leadership team is not only to separate the good from the bad, but to ask the right questions. The key question I have learned to ask is, \u201cWill it really \u2018Move the Needle?\u2019\u201d\u00a0 If you believe it will, then ask, \u201cWhy?\u201d If it is a new product or technology, what will be our, \u201cRight-To-Win\u201d versus the current competition and market solutions. Look for data or logic to support the decision.<\/p>\n
Here is an example, \u201cWe should update our Company Colors.\u201d Will we find new customers with new colors? Are we changing our company\u2019s positioning and we need a new color to support that new positioning?\u00a0 If not, then why do it?\u00a0 This idea will cost you time and money that you can put toward ideas that will, \u201cTruly Move the Needle.\u201d<\/p>\n
I have blogged in the past about how important it is to focus resources on doing the most critical initiatives with, \u201cruthless prioritization,\u201d so that whatever you do in the current year, you do it very well. This can be achieved by prioritizing what initiatives are strategically critical, and\/or will truly drive results.<\/p>\n
I\u2019m not opposed to testing concepts or different approaches, there is a value in allowing your team members to learn, but when it requires a significant investment in either your team\u2019s time or the company\u2019s money, then you have to ask yourself the tough question, \u201cWill it move the needle?\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
As a business leader, there are so many things to think about. We must focus on the safety of our operation. Cash management is critical. \u00a0Assembling a high -performance team of employees is a must. And the list goes on and on. As a leader, it\u2019s critical to ensure your company stays focused on what […]<\/p>\n","protected":false},"author":5,"featured_media":14653,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[92],"class_list":["post-14652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-businessstrategyandfinance","tag-business-strategy"],"acf":[],"yoast_head":"\n