5 Areas that can PREVENT you from long-term success!

Here’s a question for you… “Regarding business development, are you in it for the short or long term?”. May sound like a senseless question but consider the following article ‘Deming’s Five Diseases of Management’ which looks at 5 common problems that STOP organisations from succeeding in the long term!

It’s all about behaviours and attitude and I certainly know some managers with the latter. Here we’ll just cover what I consider to be the 5 most fundamental that any company/firm needs to consider.

1. Having no consistent purpose – All too often new strategies are introduced yet rarely seen through to conclusion before another strategy is muscling its way in due to ‘new ideas’ coming in from the top!

What generally happens is a lot of energy is initiated at the beginning but with minimal result. Staff become despondent and find it difficult to commit to anything long-term, why should they, it’s likely to change after all! Worse still, morale drops leading to dissatisfaction and even high turnover of staff. (some retail outlets are a great example of this)

Create and certainly promote your ‘Mission’ and ‘Vision’ statements for all to see and understand. Ascertain the ‘Values’ that drive them and get staff to buy into them making sure any changes or new strategies follow this path. Set specific goals and actions, then make sure it’s seen through to the end.

2. Emphasis on short-term profits! – It’s still tough out there with instant orders/profits taking priority over longevity of the business. Be warned that short-cuts are often taken with regards quality of service or product, innovation is suppressed and often replaced by fear. Be mindful that the economy is showing signs of improving so now is the time to start investing in your organisation’s long-term health and development plan.

3. Management by fear – Leads neatly on from the last heading. Often fear emanates from the unknown and, in turn, it’s easy to make threats. Fear can help people focus on short-term situation but at the expense of long-term success.

Carry out performance reviews/appraisals but in a manner of fairness with a good dose of honesty and sensitivity. Adopt a supportive, coaching approach giving them empowerment over their own success.

Also complete mini one’s throughout the year. I know I used to hate these as it always seemed to be used by directors to beat you rather than look for the most productive way forward.

Implement mentoring or coaching packages that focus on regular improvement.

4. Senior management high turnover – It takes time for any manager to gain an understanding of their role and equally as much to develop an understanding relationship with the team and those they are responsible for as well as expertise in the job itself, ergo, you will never have an efficient business if the key players aren’t bedded down.

Without stability from the top down, others will also adopt a short-term approach.

Start to consider long-term objectives with new managers. Looking at both short/long-term, create career paths or goals that align with the business’ objectives. SWOT analysis work well here to establish individual’s S & Os and look to embrace these rather than concentrating on W or T.

5. Looking at just the ‘Visible’ results – All too often I see how organisations simply look at the bottom line figures. Even in a sales environment, figures are important and as far as the board are concerned, yes, figures are critical but refrain from simply looking at these.

What is your organisation’s Critical Success Factor (CSF)? What are the key elements that drive your business? This should be created from your mission statement, from that, activities can be created to insure it. These aren’t all necessary figure based but can be around client/customer satisfaction, staff wellbeing etc.

This is a subject matter in its own right as are any of the aforementioned headings. Just to start being aware will make immense differences within your organisation and should you wish for long-term success, then please get in touch.

After all, Coaching to Success’ mantra is “… Our business is Your success” so take that first step and contact me to discuss some areas of concern or wanting to move forward at neil@coachingtosuccess.co.uk or call 07761 187238, where you’ll be assured a friendly and positive greeting.