Great companies build a consistent system with clear constraints, but they give their people freedom and responsibility within the framework of that system. They hired self-disciplined people who did not need to be managed. They managed the system not the people. Let us explore 5 discipline steps that you as a business owner need to practice making your brand and company sustainable:
- Start with a total and ongoing customer focus discipline
One of the quickest ways to fail in business is to allow your passion for a solution to convince you that everyone will want one. It is not what you want, is what your customers want, or your employees want. Do not assume anything until you have done market research and listened to real customers. Then assume the customers will change over time, so never stop listening. - Formulate and adopt a disciplined specific and detailed business plan
A successful business requires focus and you to define the customer need with a specific solution for a specific price and cost. Normally the goal is to make enough money to be sustainable and provide a return on the investment of constituents. No detailed plan meaning you are planning to fail. Afterall, that plan is meant to be executed and we are not building castle in the air. - Assemble a team with the right skills, discipline and experience
Most experts agree that a great team is more important than a great product. The ideal team includes at least one expert on the solution, and at least one experienced businessperson. Together they set the standard for collaboration and culture that will make or break the company. Do your team trust you? - Learn to communicate effectively to insiders and outsiders
People cannot work for you if they do not know what you expect, and the message has to be updated daily. Customers, partners and employees will find you or buy from you if you cannot tell them why, how, and what they need, and what you offer. Your team will not buy into you if the appraisal system is not clearly articulate. Trust is earned not demanded. Communication must be proactive, not reactive. - Manage the business with metrics and goals
Working hard is necessary, but not sufficient for success. Business objectives need to be quantified and measured to assess progress and positioning against competition. Metrics drive a results-oriented culture that leads to continuous quality improvements, required pivots, and recognition of success.
We have no doubt that starting or growing a business is hard, at least as difficult as developing an innovative solution. The difference is that developing a new solution typically requires specialized skills, creative thinking, and strong passion, while starting a business is more about planning, disciplined actions, and problem solving. Do you have these, or do you have a team that have these skill sets?
