Business can be so simple.
William Shakespeare said that “All the world is a stage and all the men and women merely players.”
That’s why I say that every business is a performance.
There are 4 key areas of performance that enable the business to be successfully staged. Without even one of these elements, the business is imbalanced and will be unable to sustain successful performances over the long haul.
What you will do, how you will do it and how you want to be whilst doing it. This includes your strategy, your reasons for being in business, your unique positioning, planning, values etc. It also must incorporate your “Big Why”.
This is both the leadership and rest of the ensemble in the business and supporting the business on the outside. It incorporates their skills, knowledge, growth potential, values, chemistry and culture (“the intangibles”).
This is the reason for your performance! It incorporates your marketplace, which includes current clients, potential customers, competitors, collaborators, client service, sales, marketing and PR.
This is all the systems and processes necessary to support the cast as the deliver the script. For example operations, administration, finance, production, distribution, IT, telecommunications, security & safety, corporate governance etc.
Operating successfully on your Business Stage means having the right balance of each of these elements that will ensure an “ongoing blockbuster” done your way.
P - E - R - F - E - C - T
Along the way I have identified what I consider the 7 key elements to the perfect business!
P = PURPOSE - A Higher Purpose or a Big Why. This is a motive that is bigger than just making money for the owner of the business and where the impact of the business has a far reaching ripple effect. And of course building your culture around that is critical.
E = EXCEPTIONAL - Truly great products or services. This is something that the world needs, the world wants and the world will pay for. It’s not a “nice to have” - it is the prerequisite for entry to the game.
R = REVENUE - A financial model that just works – that is profitable and rewarding. One that can give you the opportunity for freedom.
F = FORMULA - Systems and processes that allow for delegation, replication and (this is the big one) – leverage. This is what makes the business profitable.
E = EASY - K.I.S.S. – keep it simple. I can’t say it any clearer than that.
C = CULTURE - The right attitude. Positive. Happy. Never give up.
T = TEAM - This is one of my biggest lessons! You can’t do it alone and you must have a supportive team.