Leadership Unlimited is a career column by Terry Wall, MBA '97. Terry is a recognized expert on strategy, leadership, and productivity, who will share his experiences and tips each month.
Alumni are encouraged to send comments, questions or suggestions for future column topics to email@example.com.
Interested in improving your organization's profitability? Let me share five strategies guaranteed to help.
The first strategy: Focus on your purpose-define it, then live it. You, as the leader of the organization, must know the organization's purpose. Then ensure that everyone else understands it so that you, and others in the organization, use the purpose to guide important decisions.
If you already have a purpose statement, you need to decide if it's up to date, and really reflects your organization today. If you don't have a purpose statement, develop one. It isn't about what you do, but why you exist, and how your organization makes the world a better place.
A second strategy is having the right processes in place. Processes include everything from workflow, to finding customers, to running meetings-all the "things" you do to run your organization.
Evaluate your current processes to determine which are working, and which aren't. For working processes, look for ways to improve them. For the others, decide if they require modifications, or if they're so antiquated that you should eliminate them altogether.
Getting the data that is the lifeblood of your company is the third strategy. What are your productivity measures? How, and in what proportion, do different parts of your organization contribute to your bottom line?
You also need hard numbers about your customers. Where is your business coming from? How many customers do you have? Who are the most profitable for you? What do those customers have in common?
The fourth strategy is to focus on marketing, and rigorously apply strategies 2 (processes) and 3 (data) to those marketing efforts. Here you need to look at everything from how you find prospects to what your marketing copy says.
What methods are you using to get the word out about what you do? How can you improve using the various forms of media, including social media? Tracking your marketing efforts is especially important. This will tell you what works, and what doesn't.
Finally, the fifth strategy-establish SMART goals (Specific, Measurable, Attainable, Realistic, and Time frame oriented), and hold yourself, your direct reports, and your organizations accountable for achieving them.
Terry Wall, MBA '97, accelerates success for individuals and organizations. For individuals, he accelerates success through coaching. For organizations, he accelerates success by building winning teams, working with management teams in groups. Either way, Terry teaches people how to improve how they manage and lead, so that they and their direct reports are more engaged in their work, more committed to organizational goals, and more productive in what they do.
That accelerates success. That improves profitability.
Terry specializes in strategic planning, leadership development, change management, corporate culture, and productivity improvement. He works in a wide range of industries, including service and manufacturing, non-profit, and large and small organizations. He is a skilled facilitator who provides coaching on individual, executive, or team levels.
A recognized expert on strategy, leadership, and productivity, Terry has a B.A. in psychology from Rockhurst University in Kansas City, and an MBA from Drexel University in Philadelphia. He is a professional speaker, and a professional writer who coauthored a book on teambuilding, and has been published in many publications.
Terry Wall accelerates success, and improves profitability, for individuals, teams, and organizations.
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