Building a G.R.E.A.T. Company

Components of Great Companies II

R: Revenue and Reflection. Revenues are central to any business. The reason great companies stand out is they generate a lot more revenue than their competition. Revenue can also mean (although not necessarily) that they generate profit. For many growing companies, profit can be elusive during the times when revenue must be put back into infrastructure and additional resources in order to grow. In great companies, revenue is understood by everyone, not just the top executives. All employees understand how revenue is generated and consumed. More important, each individual understands how he or she can increase and impact revenue.
Reflection is the planning piece. In great companies, long-term success is supported by some sort of disciplined business planning process that engages the leadership group. The leadership group regularly assesses where the company stands and what future they want to design. The leadership also provides an organized and focused way for problem solving and lessening the pain of growth. Early on, great companies establish and implement a formal annual planning process from which to design their growth. In other words, Reflection can lead to Revenue and long term success.

Want to create a wise and profitable culture in your company? Visit the CMI website to learn more.

The Sixth Rule of Planning

El fantastico numero sies is that the planning group has to be able to actually work and create together. For good productive work to be done, there can be no pretense here. The group has to be able to implement the plan. They have to perform together.

This has to be much more than “plays well in the sandbox” kind of behavior. The planning group needs to be creative, generative and able to move quickly to implement change. They have got to be collaborators, problem solvers and be change agents within their organization.

Implementation is the key to planning success. This is not about producing a document that is pretty and will sit on a shelf. This is about implementing actions and activities that will steer the company in a healthy and profitable direction.

Committed action is key to the success of the planning endeavor. Part of the process is to focus the leadership team on becoming a high performance team. This is done by experiential exercises and measuring for high performance team behavior.

A company running with a high-performance team has many advantages over its competition. I have a particular client in mind. This company has done a remarkable job of growing in very challenging business conditions. I have seen them change marketplaces and customers.

Recently, this company had growth at 60% and they continue to hire and retain great people. Part of how they have done this is by having a fun committee and by paying attention to whether or not their people enjoy their work and being at the company.

There is trust in this planning team. People can speak their minds. This communication is taken as straight communication about the business and not taken personally. They are playing a business game of growing a great company. This team is not engaged in petty issues, nor are they interested in who gets along with and agrees with whom.

Their corporate culture is not a smelly, gossipy political environment. This type of focus gives their leadership team a great advantage when competing against other business leadership teams that are rife with gossip, mistrust and miscommunication.

For more information about CMI's planning process visit our website: www.cmiteamwork.com