Re-View, Re-Do & Re-New! 12 Steps to Re-Vive Your Business
George Hedley,
Posted
12/17/2010
It's the start of a new season for your team. Over the last
several years your team has won more games than it has lost, but it
still hasn't won a league championship. Always close but never the
top team that every other team aspires to become. Your team owners
are a little frustrated with your performance and want a winner.
Second or third place won't cut it much longer. Your stockholders
want a better return on their investment and are threatening to
replace you if major changes aren't implemented and things don't
get better fast.
As you reflect on your company's past successes, challenges and
failures--how was your performance? Would you have won a
championship with your business strategies, managers, players,
training program, systems and plays?
What do winners do at the start of every season? They RE-VIEW their
past performances and analyize what changes are needed to become
better over the next season. They rate their strengths and
weaknesses, weigh their current situation and look at their
competition. Then they decide what changes they need to make. Now
it is your turn to be a championship-winning coach and build the
best company in your marketplace. What do you need to RE-DO?
1. Re-Bound!
First and foremost, complaining about your competition, customers,
employees or the economy won't win any games. It only makes things
worse and demoralizes those around you.. In order to build a winner
and achieve bigger results than your past performances, look for
opportunities to improve your company, change how you do business,
leverage your time, motivate your team, call new plays, find new
players and RE-BOUND at a higher level.
2. Re-Start!
Forget about how you've done business in the past. It wasn't good
enough then and won't give you the results you want in the future.
In order to become the best and most profitable company in your
market, start with a clean sheet of drafting paper. What would a
winning team look like? How would it be organized? What would be
your role? What type of customers would it serve? What type of
projects would it specialize in? Business owners get stuck in their
own rut doing business the same way with the same customers
expecting things to change. Be a winning coach. Don't be afraid to
RE-START by changing your line-up, plays, strategy and how you run
the team.
3. Re-Balance!
Do you remember the reason you went into business? Never forget the
main reason for owning a company is freedom and time to enjoy the
benefits of business ownership. Put yourself first, not your
customer or employees. You can't serve customers well unless you
are refreshed, healthy and full of energy. Dedicate time to
RE-BALANCE your life and daily activities. Find time to do what you
enjoy doing outside of work. If all you do is work, what's the
point of owning a company? Don't miss out on the benefits of hard
work and taking business risk.
4. Re-Visit!
Football teams have evolved over time. Players have become more
skilled, bigger and faster.. The great coaches have learned to
manage their team differently if they want to continue to produce
winners. Now's the time to take a hard look at how you do business
and if your current strategy is viable today.
In a tighter economy, the old strategy won't work. You need to
change how you do business big time and RE-VISIT a business plan to
remain on top. Offering the same things every competitor does
creates no competitive advantage and no profit large enough to
build wealth or a sustainable company. Is your business strategy
viable in today's marketplace? Will it build a winning company that
works for you? It's the right time to take another look at how you
do business and what you can do to offer something different than
your competitors.
5. Re-Tool!
The business world is getting more and more competitive. Even
professional sports teams are doing whatever they can to cut out
the fat. What should you do to RE-TOOL how you manage your business
to save money and increase efficiency? To streamline your daily
business activities, perhaps you should consider using your
website, technology, emails, or the internet to pay your bills,
invoice customers, post shop drawings, order supplies, send
proposals, market your company, track deliveries, schedule
employees, communicate with customers, maintain vehicles and
equipment, or invest your money.
6. Re-Finance!
A strong financial foundation gives business owners the opportunity
to hire the best players, market better than their competition, try
new types of business models and take advantage of opportunities.
Now is the time to take a hard look at your finances, your
financial systems and your cash equity investment. By installing
excellent financial software managed by an experienced accounting
manager, you will take a large step towards building a better
company. Look for ways to RE-FINANCE your company via mergers and
acquisitions. And seek investors who will strengthen your balance
sheet to negotiate tough times.
7. Re- Structure!
What outdated positions do you still have? What new positions do
you need to compete today? Using the example of a professional
sports team, you should also consider changing the way you stay in
touch with past customers and attracting potential customers. The
old role of general field superintendent was a pusher and problem
solver. Now he has to be fully computerized to coordinate complex
challenges, field scheduling, material expediting, crew
productivity rates, and contract management. Perhaps it is time to
RE-STRUCTURE and take a hard look at your company organizational
chart, job responsibilities, and who is in charge of your
operations.
8. Re-Focus!
What does your company offer or do different to attract customers
to pay full price for your services? Have you changed your
marketing strategy, proposal, bid presentation, image or guarantee
to gather new fans of your company? It is time to RE-FOCUS your
customer strategy and look for new customers in new markets and new
project types by offering something exciting that will get
customers excited about paying your company what it's worth.
9. Re-Build!
A new look gives sports fans a reason to cheer and opponents a look
to fear. Take a fresh look at your overall company image, logo,
stationary, proposal format, communications, presentations,
uniforms, trucks, job signs, office, showroom, business cards and
website. Do they create any excitement or are they old, tired and
like everyone else's? Do they give out the right professional clean
impression to your customers? Does it make your employees proud to
be a part of a winning team? Does it promote technical expertise
and value? Now is the right time to RE-BUILD your image. To be the
best, customers must perceive you are the best.
10. Re-Vamp!
Every year professional teams take a hard look at their playbook.
They bring in new coaches to replace the ones who didn't develop
winning plays. Your management style most likely is not the best in
today's competitive marketplace to maximize the bottom-line results
you want. Perhaps it's time to RE-VAMP your field, project
management and operational systems.
Make a list of the systems and procedures you have in place which
guarantee and deliver consistent results every time. Then make a
list of all the problems you have experienced over the last year
that has cost your company money. Then decide which problems can be
solved with new plays for your team to use.. If you are not
achieving your project goals on a regular basis, facilitate a
discussion of your team leaders and develop a system to achieve
every project goal.
11. Re-Fresh!
Even winning professional teams take a break between seasons to
rejuvenate. How much time do you give yourself on a regular basis
to renew?
I fill my down time with competitive activities or meaningful work,
so I rarely sit down and do nothing, read a novel at the beach, or
just swim in the ocean. Wow! Stop and smell the roses. To continue
building your business, take time to RE-FRESH on a regular basis.
Take regular two or three day breaks to do nothing. And take a
two-week vacation every year. You deserve it. Plus your customers
and employees will appreciate the new you.
12. Re-Live!
Every once in a while, I dream about owning a golf course. I
imagine myself as the owner, I will get to play golf every day, be
surrounded by my golfing buddies, have lots of fun, and make money
enjoying my hobby. But the fantasy becomes reality when I talk to a
friend who actually owns a local golf course. He works seven days a
week, 60 to 80 hours per week, is on call full time, and rarely
plays any golf. Not the dream I had in mind. Are you living your
dream? Is your company delivering exactly what you want it to?
Never forget your dream. Write down specifically what you want your
business to do for you. Next decide what you must do to turn your
fantasy into reality. RE-LIVE it every day by reviewing your wish
list and taking the actions required.
Decide which strategies, plays and players you will RE-NEW to
build a champion.
George Hedley is the best-selling author of "Get
Your Business to Work!" As a professional speaker and business
coach, he helps entrepreneurs and business owners build profitable
companies. E-mail: gh@hardhatpresentations.com to request your free
copy of "$ure $trategies To $urvive A $lowdown!" or signup for his
e-newsletter. To hire George to speak , attend his 'Profit-Builder
Circle' academy or find out how he can help your company grow, call
(800) 851-8553 or visit www.hardhatpresentations.com.
www.hardhatpresentations.com