Over the last 3 years most businesses have had a sustained period of varied challenges. It is not surprising that many of them and their staff are now “running on fumes.”
People have worked exceptionally hard and made many sacrifices in this period, it is not surprising that they might look to wind down and recuperate as the pressure has eased.
How can businesses and their staff be motivated to “go again” and make the most of opportunities?
It is often said that there are only two variables in business: Time and money. Long term success requires companies to perform well enough to invest in the future, they need profit to do this.
Those companies that do not change and adapt will lose market share to those that do.
I spent 5 years in an elite fighting force. I have found the stress of running a business recently similar to the periods of intense activity and uncertainty whilst in uniform.
In both scenarios it helps to reduce the uncertainty, and this needs Leadership.
Leadership has been defined in many ways. I believe it is the ability to assess a situation and then make good decisions early.
The ability to make good decisions early requires expert knowledge, determination, and crystal-clear vision of what good looks like.
Simple to say, difficult to practise and of course a Leader must be “on deck” and ready to act.
As we enter 2024, so it is a time revisit the values behind our business, search for the innovation and the progress that will support the business better in the future as more challenges and opportunities arise.
Businesses are constantly up their game by providing more value to their customers.
What are we working on that will provide clear differentiation as we continue to grow in the coming year?
Sustainability – how are we going to make better use of our resources, how can we further reduce the legacy of our packaging, how can we collaborate with our partners to reduce the impact of what we do on “people and planet”?
Productivity – improvements in throughput per hour and productivity per employee enable them to progress financially and professionally, how are we going to keep the momentum going in 2024?
Data Sharing – optimising efficiency, traceability and stock by tagging, machine learning and artificial intelligence enables short run batch production to be as efficient as continuous process. What are the areas to focus on and how can it drive value?
Digital assets – More and more products are sold online or marketed digitally. How can our digital information be best in class, how can our brand credentials and our third-party accreditation and endorsement be highlighted?
The internet is a wonderful thing, but it is far more memorable to visit a supplier, a customer, a market, or a place to understand how your products are used and where value can be added, or cost reduced and in doing so build enduring relationships.
To get the full picture treat life like a supermarket and visit every aisle.