Part # 4

Part 1 .- .2 .- .3 .- . 4 .- .5

The Five Keys to Building
a Successful Company

 

 

In past articles I have counseled you to create a very clear and specific vision of where you want to take your company, get your team to help you build a realistic and measurable plan to achieve that vision, and then infuse your organization with a strong sense of urgency toward making the plan work. This, however, is perhaps the most challenging article in this five-part series because it is the most difficult to implement.

There is an axiom that stands as an absolute in great companies: Corporate Excellence is a Form of Human Excellence.

Many clients have come to me declaring that they want to build a “world-class” organization, but are then unwilling to make the tough decisions necessary to build and maintain the kind of workforce needed to get them there. You simply cannot have a superior company if you do not have the most talented, focused and dedicated employees possible. I recently watched an interview with Jack Welch, the widely acclaimed CEO of 526 billion-dollar General Electric, who said, “there is one main factor that has made GE the biggest and best company in the world…our people. GE is a talent machine.”

The first and most difficult step is to take a critical look at your current employees and ask yourself, “Are they truly excellent?” Anyone (and I do mean anyone) who does not measure up to the standards of superior performance that you have established is then subject to the “3-T’s.”

Train: If they have the ability and the desire, but simply lack the knowledge and skills, get them the training they need to realize their full potential. Books, tapes, seminars, workshops – anything that will help your people become the very best they can be. This can be costly, but the alternative is much more expensive!

Transfer: Perhaps they have the skills and abilities to be superb, but in a different job within your organization. Maybe a salesperson that has fabulous product knowledge, but can’t quite make quota, would be a superstar working in the marketing department. Help people to succeed by putting them into positions where they can excel.

Terminate: This is the tough one – but the truth. Some people simply will not be able to meet your higher standards of performance. It could be any one of a number of factors, but if you do everything you can to help them and they still don’t measure up, you need to let them move on to another company where they can succeed. Leaving a non-performer in place will destroy morale and clearly demonstrate that you are not serious about excellence.

After you have worked with your current staff, the next step is to get really serious about your interviewing and hiring process. To be the best, you must hire the best. It is therefore necessary to determine specifically what “excellence” is in your industry and only hire people that meet or exceed your model. Will it be hard to find such people? Yes. Will you have to pay more to get them? Probably. But, remember this: the future of your company is directly determined by the quality of your people – period.

The final article in the series will deal with the importance of Customer Focus.

We began with establishing the need for a vivid and compelling vision for the organization that is formulated with the help of the entire corporate team. Next, a specific, measurable and time-bound plan must be implemented to achieve that vision, driven by a strong sense of urgency throughout the company to make things happen…now. In addition, it is fundamental to the success of any organization to build a team of the brightest and most talented people possible, and then give them all the information and support they need to perform at a superior level. Once these steps have been accomplished, the entire organization must turns it’s collective focus to the task of creating a legion of happy, satisfied customers that become raving fans for your products and business.

Part 1 .- .2 .- .3 .- . 4 .- .5

The Five Keys to Building
a Successful Company