Business success boils back to four core areas. They are Wealth Creation – business acumen and people, Execution, which is the best kind of brilliance, and Evolving Business Model like Jason Daniel Hare. Virtually all sectors of the economy are experiencing large-scale shakeouts. The brave are eating the weak, and the customer reigns supreme.
We live in an era of customer driven economics. Customers walk into car dealerships with an invoice price list on the internet. Some customers specify exactly what vehicle they want and how it should be fitted. This is a new market where customers want instant results, they want cheap and reliable products and services. Customers don’t really care where it comes from. Customers can often be very ungrateful. They don’t seem impressed by how hard you worked to fulfill their order. They just want it done their way, right now!
Your business should be easy to work with and offer more value-added products and services than its competitors. Don’t be afraid or you may go out-of-business.
The bold statements below will assist you Jason Daniel Hare in managing your business today and in the future.
People: – The real business revolves around people – Theirs and Yours!
Hire only the best. Your entire talent base is crucial to your success.
– Culture matters!
Personal evaluations are crucial. They’re like exercise. Do it once a week and it won’t feel right. It is a great exercise that you can do over and over again. This will make you feel better as both an evaluator and the person being evaluated. Evaluations should be a coaching experience, to support and raise the bar.
Ask yourself this question: Would my business still be viable if it lost the top 20%? If not, why do you still hire the other 80% of your staff?
– People who are very competent will take care and help others – customers!
75% should be dedicated to getting to know, mentor, and evaluate your team members as a leader. Your number one priority should be to build the best team possible.
Business is in it to win! You can only win if you have the best people around!
– Team players are essential. Get rid of someone who supports a decision in a meeting but is not supportive outside of the meeting.
– Passion and enthusiasm are the main attributes you need to find in the people that you hire, mentor, and coach. Closely followed by dedication.
– Do not treat everyone the same. Take time to spend quality time with people you love and give them your best.
Your best friends should know they are your greatest!
– Do your company have a succession plan in place? Are your best people involved?
Celebrate the Top 20%, both publicly and personally – who are your MVPs for the week?
It is the best thing you can do in the business world to grow your employees. It will be your leadership legacy.
You have to inspire people to achieve their maximum potential. It is important to create a winning, innovative environment.
– Organizations must have core competencies in people development and idea transmission.
Imagination, creativity innovation and execution are skills that need to be nurtured and rewarded.
It’s a sin not to love your best people.
It’s cruel not to tell your worst. The bottom 10% of the population must know where they are.
False kindness doesn’t allow people to be honest about their current situation. Give them time to make dramatic changes for the greater good. Who would you pick to be your sports coach?
Caution: It takes great emotional fortitude to recruit and develop exceptional talent and then to let that talent be ultimately committed towards ensuring the success of the business strategy.
Wealth Creation: Poor business acumen is no excuse
Good business acumen is an essential skill in today’s marketplace. If you don’t have it, you won’t stay in the business. Smart people are smart enough to see how you are doing in a public company.
Invest in Human Intellectual Capital. Not buildings.
– Buy people – rent buildings.
Earn real money after taxes.
Spend your money wisely. Every employee in your organization should be like an independent vendor. (I need to make more than what I spend in order to provide for my family.
Invest in the future, talent, innovation and process. Growth cannot be saved, it must be created.
To ask questions constantly:
– How much are you spending on a transaction to make it happen?
– How much do you spend on handling an order?
– How do I make my business transactions instantaneous?
– How can my business systems be aligned? (Boardroom – Storeroom)
How many non-valued added jobs (expediters/liaison specialists, troubleshooter/special project coordinator, inspector, etc.) are there because we don’t have a clean and efficient system?
Evolving business model – Your strategy needs to be in sync with the changing business environment.
How do I make money today?
How can you make more money tomorrow?
– Change is inevitable. Are you prepared for the changes that will occur in your industry
– What’s your – Innovation Strategy- Today?
What is your strategy for the future?
Communicating your innovation, evolving strategies and guiding others helps to keep them on track.
– Continuously work on your strategy, and get involved with your best people.
– Does your culture support your strategy for the future?
– Do all parties understand your strategy?
Be aware: Strategy isn’t a five-year-long plan. It involves constantly using strategic thinking, and continually doing scenario planning. These are both ways to beat the competition.
Execution: It is vital to take decisive decisions every day and then execute them!
Get things done every hour of every working day.
– It is essential to have the right person doing the right jobs, in the right place, at right times, and in a right manner.
A solid and consistent process is the key.
People shouldn’t just be focused on the process; they should also be focused on what the process is trying achieve!
– Everybody must be dedicated to the task at hand and not just to the following of the process.
Smart people understand that process is important, but they are also committed to making the process meaningful.
– You should design the entire process as one unit.
– Only those who are in the best place to do the job should work.
– Do not perform the same activity twice.
– The system should be able to see all data in one place.
Integration is the only way to go.
Spend dollars to digitize your organization. Digitizing eliminates all of the unnecessary fat from a company. It eliminates dull, inefficient, and low-value jobs.
There are many ways to make money from your business. These include transactions no longer required and the improvement of the quality work performed so that duplicate or additional transactions do not become necessary.
– Quickly fix quality and customer problems, not just report them.
Ensure your systems are kept clean and run in real time.
– Without a well-aligned process, digitizing a company is not possible.
– Get your business model in line with where you are going.
– Real-time transactions can be done via the Internet.
If you’re in a leadership role, LEADER PEOPLE. This will excite them! If you’re not able to do the job, consider giving it to someone who is.
– Replace transactional managers by Transformational Leaders
– While consensus can be helpful and is sometimes necessary, too much leadership is dangerous.
– Be emotional when you see problems and take action to fix them.
– Don’t be a victim, but a change agent
Escape from the reality you perceive, and make your reality actual and informed.
Ensure that they bring enthusiasm, change, and passion to the new role you are promoting!
Globalization is here and will continue. Do you have an international strategy?
– Do not manage a routine shop, division or company. Run something exciting! Attractive organizations attract top talent.
Growth is what it’s all for!
– Please tell me about what you find satisfying that isn’t growing well.
– Growth can be a great elixir – both personally and professionally.
– Exponential, life-changing growth makes the best growth.
– What 10-12 key items do your PC have that you can view daily in real-time to track how your business is doing? (Sales/service, quality, costs, R&D and industry trends. People events, new milestones, biggest/best clients.
– Don’t wait until the end of the quarter or month to see the results!