It's July which means it's time to kick off the summer reprise series so the first in this series talks about 10 keys to building a successful organization!
Every business wants their organization to be successful. Of course while not the only one, the ultimate measurement of success in business is the bottom line. i.e.,, Is a company prospering & growing or is it stagnating or worse, completely failing. This post focuses on the path to success. I believe that there are 10 essential keys to business success plus one.
Why not just 11 keys? That's simply because there are many businesses that prosper without that “plus one” factor. It's this last factor that separates the power business from each & every vantage point vs.those that are “just” financially successful. So what are these elements & where do they fall in the horizon of a business-the beginning, the execution,& the results. You will find that the roots for success generally happen in the early phases which on its face may seem odd. However in reality it lines up with something every successful business-person AND lawyer I have known has told me which is every successful venture or legal case is won in the office during preparation. Now this doesn’t mean that a business can’t have a rocky start & then, after righting itself, suddenly take off. We have seen that happen countless times in countless ways. A great example of this is Apple. It was headed for bankruptcy after they got rid of Steve Jobs the first time. If Jobs didn’t return & if Bill Gates didn’t come to the rescue with a significant loan, it would have been dead. No iPod, no iPhone, no iPad, no iTunes...we'd be living in a different world. . It's just always better to get it right the first time, that's all.
At the beginning phase we see:
- Analysis [of the plan & strategy]*
Next there is the execution phase. For example, you know you want to build the best widgets the world has ever seen, you've thought about it, done the research, mapped it out, written a business plan & now have a strategy for going forward. The elements happening here are:
- Human Capital
- Analysis [regarding best practices during execution]*
With hard work and definitely some luck. There is the final phase:
These 10 elements can help you build a very successful organization but there is
something I call a “plus one” factor that is necessary for your HR “secret sauce” if you want to create a business that stands out above the rest. It's a subject so important that it deserves its own separate post-corporate culture. An adequate one will make you money, a superior one will make your company iconic. Now, go out out & build something great!