How to build and maintain a company that delivers great results? I have listed five keys here that I consider essential to achieve this goal.
A common desire of all managers is to obtain the highest possible return with less investment, and this is possible with high performance management, which aims to extract the maximum from resources in an intelligent way.
Anyone looking for this knows how stressful it is for the system to achieve it, yet organizations like sports teams and successful startups succeed year after year.
I'm here to share five secrets I discovered by studying these organizations, so that you can achieve what you want.
Secret #1 - Establish indicators
As the Cheshire Cat said to Alice:
"If you don't know where to go, any road will get you there."
This is true for both business and personal life. If you don't have a clear goal, not only will you not be able to recognize whether you've reached it, but you'll also have difficulty defining strategies and evaluating them. You know sales are low, but do your salespeople know their goals well? Cash is falling, but what about your profitability, how is it?
It is necessary to be clear what are your indicators and how they drive your results.
Don't know what indicators are, or still unsure how to define them? I'll write an article about it here, subscribe at the bottom of the page and don't miss out.
Secret #2 - Have a good data flow
Creating an indicator is great, but remember to set your update frequency.
For this, you need to establish the data flow of your business, and be very clear on how to get to that indicator and the metrics you want to track.
As shown in the image above, it is necessary to think about how data entries will be made, in a consistent way that does not generate doubts if manual inclusions are made. It is also necessary to know who will use which data, in order to produce reports, graphs and indicators with the necessary frequency, so that the results are monitored and accelerate the decision-making process.
Of course, this information cannot be restricted to management: it is important to share and encourage the operator (the one who is there on a day-to-day basis and makes the result happen directly) to know and be comfortable with their assessment.
Secret #3 - Study your results
Evaluating the results for decision making is an ongoing process. Now, as interesting time milestones arrive (such as the end of a month, quarter or year), it is important for the manager to leave the day-to-day rush to actually study the results and how they were achieved, pointing out strengths and weaknesses in their strategy and team operation.
Often hidden behind punctual indicators, a longer sampling of time can demonstrate that a certain product has been selling at a much higher margin than expected, or that a sale that seems to be very profitable is not so much.
Secret #4 - Create action plans based on your goals
If you already know the results, you have the goals you want to achieve and you have studied the previous achievement, what you should do next?
Create an action plan and present it to your team.
In everyday life, what we did often goes unnoticed, so it is important to emphasize on the main objective. One should focus on at least continuing with all the strengths presented, eliminating the biggest risks found and trying to improve what is possible.
It is also important to understand the understanding regarding the execution of your plan. After presenting it, observe the initial results closely to verify that everyone understands and that the team is taking the necessary direction.
Remembering: The plan must be feasible with your reality. In the vast majority of cases, the failure of planning is the manager's, and not his team's.
Secret #5 - Celebrate your results
Scored a goal, won the championship? Celebrate! Celebrating is necessary!
It may seem obvious, but it's important to point out: the team that doesn't celebrate success won't help each other in difficult times. It's like in a friendship, there's always someone who likes to support him in obstacles, but when everything is going well, he doesn't pay attention... and so, he has to overcome difficulties alone.
Many leaders still think that, due to bonuses tied to goals, reaching them is already celebrated. And it will be, but not with the company, not with your team. If a manager doesn't encourage celebration, all the positive energy of achieving results will be dissipated as soon as a new goal comes along.So remember to create those moments!
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