Truly successful businesses excel in at least one of three key areas and adequately execute in the others depending upon the strategic focus they choose in delivering outstanding service to customers. These key areas are:
- Product Excellence – Strategies that deliver the best product(or service) at the best value – e.g., Apple;
- Customer Intimacy – Strategies that cultivate relationships and satisfy the unique needs of customers – e.g., Nike;
- Operational Excellence – Strategies that deliver efficiency, low costs and make doing business simple and hassle-free – e.g., Wal-Mart.
Achieving excellence in these areas requires attention to 10 key critical success factors:
- Planning
- Leadership
- Marketing
- Customer Service
- Sales
- Profit
- Team Morale
- Waste Reduction
- Personal Development
- Continuous Improvement
Many business owners say they are too busy working in the business to be able to concentrate on all these areas. Which is the reason why planning becomes so essential. It is the vital process that focuses your attention on the critical issues that will insure long-term success for your business. The development of winning strategies and their implementation requires effective planning and analysis to understand where your business is now, where you want it to be in the future, and how you are going to achieve your goals.
It is important that you have a process to periodically examine your strategic issues and challenges, set measurable goals, and prioritize issues that will have the greatest impact on your customers and your business.
Are you planning for your success?
