HOME | ETHICS | SERVICES | PRODUCTS | EXPERIENCE | PEOPLE | PURPOSE | CONTACT
NEED HELP WITH A CONTRACT DISPUTE OR PROJECT CLAIM? - JUST CALL US!
|
HOME | ETHICS | SERVICES | PRODUCTS | EXPERIENCE | PEOPLE | PURPOSE | CONTACT NEED HELP WITH A CONTRACT DISPUTE OR PROJECT CLAIM? - JUST CALL US!
|
|
_______________ LINKS TO VALUE BASED SERVICES
|
QUICKLY
Turn Frustration*1 . . . Into PROFIT!
By: Gregory (Greg) M. Harms, CMC
What
frustrates you MOST about your business? If you had an instantaneous response to the above
question, you are well on your way to QUICKLY improving profitability!
How? By harnessing the
energy and intuitiveness of your frustration to eliminate it - - - and in so
doing make short work of related matters of cost, productivity and revenue
(CPR!) for the benefit of bottom line results!
Just follow these three steps . . . Step 1 – Focus! Whether alone, or with a “cross
functional” group you assemble, construct a concise written statement that
clearly articulates the frustration you want to address (i.e. the “agreed
frustration”). Then, convert that
statement into a “Strategic Tenet” that reflects what needs to be done to
eliminate the agreed frustration. For
example: Agreed Frustration:
I / We are pursuing new business with a “scatter gun” approach, often
spending time and money with people / areas that turn out to have had little
opportunity for success, while attention to opportunities with real potential
have languished. Strategic Tenet:
I / We will develop, maintain and utilize a business development
process that accountably ensures I / every one of us prioritizes how time and
money is invested in pursuit of new business based on potential contribution to
our purpose (mission / vision / culture) and our success objectives (financial
goals, growth targets, etc.) - - - 100% of the time. The
objective in this step is to get the frustration down on paper where it can be
internalized, communicated (in group situations) and addressed (for a moment in
time) to the exclusion of everything else.
REMEMBER! – “It is impossible to guide a ship that does not know
where it wants or needs to go”. TIP:
Resist the temptation to assume the frustration is already clear to you / everyone in your group
and skip this step - - - it is critical to effective results! Step 2 - Plan! I recommend a
five-part approach to planning the tactical steps associated with how you
achieve your Strategic Tenet. 1.
Envision / Discuss (in group situations) an “idealistic” picture of
your Strategic Tenet working exactly as would be required for it to deliver your
expectations 100%++ (i.e. your “vision” for this Strategic Tenet). 2. Contrast this idealistic picture with the way things are now, and “brainstorm” a collection of thoughts and answers to the following question:
3.
Consolidate the challenges identified in the above step into the
“critical few” challenges that if overcome, would essentially enable the
success of the vision. 4.
Establish a measurement of success (i.e. a standard by which you can
“declare victory”) for each of the identified “critical few” challenges
from the previous step. 5.
Brainstorm / Identify key tactical action steps required to successfully
overcome each of the critical few “challenges” as defined by the previously
identified success measurements and document per below: a. Description (of tactical step) b. Owner (not necessarily the one who will get it done, but the one who will be accountable for getting it done) c. Completion Target Date d.
Estimate of Cost Step 3 - Get the Right Things Done . . . NOW! From Step 2,
“roll up” your tactical plans for each challenge into a consolidated
implementation plan, including estimated cost.
Estimate the value of implementing the Strategic Tenet 100% ++ based on
this plan and verify “return on investment” (i.e. the value of the Strategic
Tenet minus the collective cost of implementing your planned solutions to the
“critical few” challenges). If
the estimated cost is deemed to be greater than the value of the Strategic
Tenet, then you can eliminate this frustration for lacking cost effectiveness
(this is rarely the case!). Otherwise,
pursue implementation of your plan as a “paint by the numbers” management
exercise of ensuring that what you / your team have decided will eliminate
challenges to your frustration based Strategic Tenet are in fact fully executed.
(If delivering implementation plans has been or is an area of concern, consider
also addressing that
area in a future “frustration elimination” exercise.) The press of daily activity often
inhibits or prevents active pursuit of addressing business related
“frustrations”. For that
reason, it is often beneficial to utilize an internal or even external
facilitator to force a “point and time of commitment” to addressing the
frustration. This individual can
also be useful in providing the discipline and “leg work” support required
to ensure full value from your frustration and related Strategic Tenet is
realized. BOTTOM LINE? Don’t “begrudge” frustration in your business - - -
it may well be one of the greatest contributors to the continuing and ultimate
success of your business! Use
frustration as a catalyst to create a focused and planned “call to action”
that drives your business to achieve greater and greater success! *1Frustration - having a specific or intuitive sense of something needing to be done coupled with issues associated with actually getting it done . . . all the while knowing there will be a price to pay for the delay be it negative consequence or missed opportunity.
| HOME | | ARTICLES | | CONTACT INFO |
|
WANT TO SUBMIT A "QUOTE OF NOTE"? ____________ FAQ LINKS When / Why Should YOU Engage A Consultant? What is "Value Based" Consulting? Is Engaging A Consultant On A "Retainer" A Good Idea? What Does The Name "PDQ!"? Mean? How Do YOU Know If YOU Need PDQ!? Can YOU Do What PDQ! Does Yourself Internally?
|
|
Copyright © 2002 - Business Excellence PDQ!sm, Inc. All Rights Reserved. Web Site Last Updated: 12/24/07 |