No honey, no money

by Magnus Penker on June 20, 2010

Over the past year I have I have meet up with several real professionals running their operations with precisions and knowledge, also profitable. Bur no exceptional growth rate, and all with a fear of being challenged by new entrants. Why? Probably because they are professionals understanding their market logic, they will be challenged and they will not grow much more. New players, BRIC companies as well as new entrepreneurs building global operations from the first day, are constantly finding new short cuts, new offers and changing price and delivery models. Old companies are brought back to zero including the fantastic companies outlined in Good-To-Grete (link in Swedish, http://www.penker.se/har-kommer-den/), new companies are rising up on the sky.

What can then be done? Let’s start with understanding the logic of success, it always start with customer insights and finding a sweet spot where you can deliver superior value. You will be challenged, fast if you are successful, slow if not. But the market logic is always there. You have to fight for keeping your competitors outside your strategic boundaries as well as keeping and developing your unique sweet spot- the honey pot of your business.

The first step is to set up an inspiring goal, challenge your thinking and traditional way of calculating. Be wild, be inspiring.

The second step is to formulate your mission, the reason for getting up in the morning. Share it, communicate it, live it.

The third step is to interlink the mission and the inspiring goal with the honey pot of your business. Align your organizations resources with what you want to achieve and what is the unique capabilities.

The fourth step is to break down the goal into years, quarters and finally weekly measure goals committed by each person in the whole organization. Now you believe this is not possible, and the answer is: Yes it is, and it has been done several times. Hard work, focus and enrolment are the keys.

The fifth step is to constantly identify things in the way of your success, address them immediately and ask yourself what is now possible.  Never be satisfied, never give up and never accept that there is no better way because there is always a better way.

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