Business Growth Amid Crisis — Part 4
Business Coach Ratish Pandey shares the 4th Fundamental that needs to be in place to help you navigate your business successfully amid a crisis.
Managing a business in crisis takes some doing, but it can be a relatively smooth ride if the basic fundamentals are in place.
In this series, we will today cover the 4th fundamental — Execution.
Once the three fundamentals of Business Survival Strategies, cash flow, and Team are in place, it is time to focus on Execution.
What comes to mind when you think Execution?
Time or paucity of time?
Time to Reflect.
Think are you a Businessperson or are you a busy person?
Most often, as entrepreneurs, we let everyday business matters cloud our vision. We get engaged in running the business from dawn to dusk, desperately trying to fit an additional hour of productive work that we often lose perspective. A situation such as this calls for adopting and implementing an effective system. Systems, well-executed will unshackle you from the mundane and gain a better perspective.
Let’s now run a checklist to see if your systems are in place.
Are the key result areas (KRA’s) defined for each department and employee?
Do these KRA’s roll up and align to the organization’s goals?
Is there a practice of crisp daily huddles in the morning to align work and teams?
At the beginning of each day, does every employee know their deliverables for that day?
Are obstacles discussed, solutions provided to enable the team member or members as the case maybe?
A culture of smooth, effective, and unified communication across the organization is needed to achieve the above action items, complemented by a team that delivers results.
Next, one needs to have a similar checklist for Standard Operating Procedures (SOPs) for the routine jobs within the organization.
The idea is to systemize the routine and humanize the exceptions. While adding to the smoothness of running a business, it helps save time, costs & energy while adding to motivation and employee empowerment.
I hope you found this interesting and added a few things to your checklist.
Keep a watch to catch the next article of the series @ Growing Business During Crisis
