What’s the “Real” Business Challenge?
by Hal Levenson on Dec 4, 2018 1:59 PM
What holds a business back? Unfortunately, it’s not uncommon to see even successful companies struggle to grow. When working with Trilogy clients, challenges typically surface in the following categories:
- Fundamental business issues
- Culture of the organization
- Attitude towards change
Let’s explore each of these critical areas in more detail:
1. Fundamental business issues can be defined in two categories:
Growth: Strategy, Sales/Marketing and Organizational
Sustainability: People, Financial and Processes
Examine the company and ask the following questions:
- Is there a clear, concise written strategic plan that is aligned by all members of the team?
- Are marketing and sales efforts being tracked, measured and getting consistent results?
- Is there a current and future organizational chart outlining expectations, gaps and opportunities for advancement?
- Is recruiting, training, onboarding, and compensation putting the right people in the right seats?
- Does leadership understand what is “behind” the numbers and utilize a financial dashboard to guide decisions and increase the bottom line?
- Are processes current and effective, making the business more competitive and more profitable.
2. The culture of the organization as measured by the following characteristics:
Foundation: Trust, Conflict, and Communications
Results: Accountability, Courage, and Passion
Consider the following questions:
- Is there real trust; that is, the ability to tell one another the hard truth and not be afraid to offend because of the positive intentions?
- Is healthy conflict encouraged to get the best ideas from different point of views?
- Is there 2-way communication that is understood at all levels of the organization with clear expectations?
- Are all employees consistently accountable to specific measurable results?
- Does everyone in the organization have the courage to make tough decisions and admit to mistakes?
- Are people engaged and passionate about the company’s vision?
3. Attitude towards change
Change can be intimidating and can mean many things. When we talk about change, we focus on a willingness to embrace change, how much change can the organization handle, and what rate of change is acceptable?
What is the company’s attitude toward change? Consider the following:
- How much change can the organization handle with its current employees, processes, technology and resources?
- How fast can the company change emotionally, financially and organizationally?
For change to take hold, leadership must address these questions otherwise, any fundamental or cultural initiatives will fail.
So, what’s the “real” business challenge? It’s rarely ever just one thing but rather, some combination of the questions above. At Trilogy, we don’t believe that these challenges should hold a company back. Rather, addressing common issues can give a business the boost it needs. Find out how we can help; call Trilogy Partners at 609-688-0428 for a complimentary consultation.