Internal Growth and Development are Critical
People are at their absolute best when they feel and know they are actually making a difference and can add value to a company – not just another cog in some hamster wheel. Here’s the thing – most businesses shrink not from being outgunned by direct market competition – but from internal stagnation. Stagnation, not competition, is the real killer and fostering a culture of continuous improvement and adaptation within your organizational process is critical to growth.
So What is the Cure?
It is not some shiny new gadget or some whizzy consultant’s “five step system” it is creating a culture where staff are encouraged to have a go at fixing what is broken. Encouraging them to identify opportunities for innovation and efficiency gains. Let them capitalize on their diverse perspectives and insights, spot the gaps and highlight the downright stupid things that have become “the way we have always done it”. You will be amazed at what they come up with, because trust me, they will see nonsense that you don’t.
Of course, not every person should be trusted with the future of your empire – there are always some that think “innovation” means buying a bigger TV and beer fridge for the smoko hut, but you know which are the ones worth listening to.
When they do tell you things they find that can be improved, don’t just nod and say “thanks”, then promptly forget about it – act on it. Show them their ideas and opinions do actually matter.
Here’s a way to start now:
Look for ways to squeeze out every last drop of productivity. Maybe even come up with something that no one else has or is doing currently – something that keeps you ahead of the competition by a mile.
Stay agile and responsive to changes in the market landscape, and be willing to adapt your strategies and operations accordingly to maintain a competitive edge.
Ask your team, “What’s one thing we’re doing that is a colossal wate of time or money?”
Listen. Act on it. Reward the suggestion.
Innovation isn’t necessarily top-down anymore.
Your best ideas could already be working in your business — you just have to tap into them. Your staff will appreciate this.
Lastly, if you are the sort who likes to moan that “it’s too hard to find good people these days” – here’s a thought: good people are everywhere. It’s your job to make sure they’re working for you, being heard and taken seriously. Because the best ideas probably aren’t sitting in your boardroom. They’re already there, in the heads of the people who keep the machines serviced and the wheels turning.