20 Tips for Making Your Business Hum

how to make your business hum

 

If you saw City Slickers, you’ll remember Curly holding up his finger and stating there is one thing and you need to stick with it. For a business, that one thing is being clear about your purpose. From there, there are a number of little things that are needed to make your business hum. Here are twenty tips to help you do just that:

 

Your purpose and how it shows up every day

  1. Be clear about who you are and what you do
  2. Make your values known and only hire people who are aligned with your values
  3. Find the balance between having a Taj Mahal and looking like you are going out of business. People need a decent environment to be productive and to be engaged
  4. Get rid of the things that are hard. Doing business for and with you should be easy
  5. Constantly innovate to stay relevant, provide value to customers and outperform the competition

You at your best

  1. Eat well, get enough sleep and exercise regularly. These are necessities for keeping your mind clear and focused, and managing stress
  2. Minimize meetings. There are typically only a few that have any real value
  3. Focus on return on your time. Spend it on things that matter and not just the things that pop up
  4. Surround yourself with people who inspire you, stretch you and bring out your best thinking

Teams that outperform their competition

  1. Hire the best people, align goals and allow them to make decisions. Be clear about responsibilities, accountabilities and decision making
  2. We vs. Them. Them is the competition, not coworkers
  3. Ensure you have all the skills and capabilities at the table so you are making informed decisions
  4. Engage with the best partners, whether investors, suppliers, bankers, etc. They will round out your knowledge and team with you to grow and innovate
  5. Meet with your customers to strengthen relationships, align on how you can best work together
  6. Walk around and talk to the people in your business every day and visit remote locations frequently

Keeping score and outperforming

  1. Set the bar high to cause people to think, stretch and achieve more. At some point, you’ll realize you actually set the bar too low
  2. Know the drivers of your business and how they are performing
  3. Understand your business cycles and how to adjust up and down as the market changes. Companies that outperform act before their competitors
  4. Know when, where and how to invest to grow the business
  5. Act quickly with good, but imperfect information. Speed is more important and course corrections can be made along the way

 

Posted in Leadership, Strategy.

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