Control Isn’t Making Every Decision
Our previous article on “Three Steps to Predictable Financial Results” outlined a control, profitability, growth philosophy. A business needs to be under control and understand how and where it makes money before it grows. Time and time again we see businesses get these steps out of order and end up with serious unintended consequences of significant financial losses. In this article we’ll explore control.
Control doesn’t mean one person makes every decision. It’s quite the contrary. Control is achieved with business systems specifically designed to:
Clarify every team member’s role
Ensure each team member has what they need to fulfill their role
Make performance expectations clear
Assign individual accountability for results
Reinforce your company’s culture and values
Frequently review results to learn and make course corrections
Businesses that are under control are highly aligned. Our proprietary Integrated Management System© (IMS©) is a proven alignment methodology that drives growth, profitability, and higher enterprise value.
Simplistically, the IMS© ensures a company:
Is clear on where it’s headed, and the leadership team is in consensus on their mission, vision and values,
Knows how it intends to “get there,” i.e., has well thought out and articulated strategic and operating plans, and
Has a result-based culture of accountability and over-achievement.
Following a “control, profitability, growth” philosophy will make your company easier to run, increase profits, and create more enterprise value. Next, we’ll explore the topic of profitability.