All of us in business as owners or managing partners are ultimately seeking sustainable growth and profitability, aren’t we?
So, our key performance indicators (KPI) or key results areas (KRA) are chosen to drive growth and profit, aren’t they?
Those KPI and KRA subsequently become the list of goals we seek to achieve.
I assert that most of those KPI or KRA are less than useful and cause us to lose focus on what really delivers sustainable growth and profitability.
I help my clients focus on the two most worthy goals, and where the measures chosen supports those goals.
Those two goals are:
- Become the employer of choice in your marketplace
Your culture is the top determinant of your performance and productivity and client/customer experience.
Having the right people with the right attitude and skills (talent) is crucial to this. Becoming the employer of choice isn’t just about salary and bonuses.
It’s also about meaningful work, personal growth, achievement, recognition, support and autonomy – all delivered by effective leadership.
Staff turnover and replacement is a major cost as well as a performance, productivity and client experience killer.
Your staff retention and waiting list of good people seeking to join your business will be testimony of being employer of choice.
- Become the provider of choice in your marketplace
Because your staff treat customers the way you treat your staff, with your culture optimised you have the greatest possibility of fine tuning your systems, processes, products and services to suit your ideal customers, regardless of whether you are B2B or B2C.
You’ll be able to gather evidence from your marketplace that you are the preferred provider.
You’ll be able to tell truthful stories that position you as the provider of choice, independently obtained to verify credibility.
Choosing those two goals require you to clarify and specify your marketplace and your ideal client.
Choosing too wide a market or too wide a client profile is a flawed strategy, based on the fear of missing out.
With those two goals achieved and retained, imagine the value of your business?
You will be best positioned to withstand the vagaries of the economy and the possibilities of scaling or even exiting.
If those two goals aren’t yours, how else will you distinguish yourself from your competition, in such a way as to ensure sustainable growth and profitability?
