How To Supercharge Your Business

I am frequently asked what the single most important thing there is to do to improve overall business performance. Before we talk about that one thing let's review the three big components that exist in the best businesses. Highly successful enterprises always utilize a system of management. Another key component is having both skilled and talented people in management. And the third component is that everyone in the organization has a mindset focused on winning.

The free components we've just discussed represent a view from 50,000 feet. As you look deeper and deeper into these businesses the lists of what they're doing become longer and longer. We've learned that everything does not have equal weight. All things don't contribute to a businesses' success equally. Perhaps the most important thing is accountability. Even better is to have a culture of accountability.

There is a myriad of things to do that result in an improvement in topline and bottom-line business results. We don't have space in this article to talk about everything so let's look at the next most important ingredients present in highly successful business enterprises. The owner needs to have a vision. This vision needs to be clear, well-thought-out and communicated to all stakeholders. Plus, it needs to be refreshed and renewed frequently. A strategy should be driving the business and overall direction. Management needs to establish a tactical plan at least once a year. Additionally, you will find a well thought out mission statement and a list of core values. The required resources will have to be organized and available.

The organization needs to recognize that its staff is it's most important asset and needs to be treated as such. Every single employee needs a clear well-written position description. They'll be the guidelines for how the employee will carry out his or her day-to-day activities. The employees need to know how they're doing all the time. Employee evaluations are a key component of that. Overall compensation will be aligned with the actual performance. High performers receive the high compensation. And the lowest performers receive the lowest levels of compensation. An ongoing program of employee education and training needs to be in place.

Fundamentally, you need high-performing people at all levels. Things simply need to get done.

Turns out there are quite a few things people do that actually don't have much effect at all on how a business performs. Items such as marketing, branding, product improvement, technology and other similar things were good but not necessarily that valuable. While that list could be a good one, the point I'm making is that it's not a list of the most vital. The last paragraph listed some items which are much more valuable to do first.

Bottom line is the installation of a culture of accountability is the most important thing you can do. “You can count on me,” represents a culture of accountability. All people at all levels can be counted on to deliver what they commit to. The other side of the ledger is having everyone expect everyone else to have kept their commitment. When this culture is part of day-to-day behavior that's when you'll find an outstanding levels of performance. The truth is it's so valuable that many of the things we've discussed in the article can be missing and you'll still find stunningly outstanding results.

In conclusion, there is a long list of things that you can do to help your business results. However, one thing will give you the best overall return. And it's the one thing you should do first. As we've hammered home, accountability is the one thing that will give you the best and quickest impact. Everything we've talked about here is needed. But, many companies with everything except accountability don't do very well overall. On the other hand, companies with just accountability and little else do exceptionally well.

So, fundamentally you should take the first step which is to install a culture of accountability. This means everyone will set goals; do their best to finish the goals on time; and, their teammates will hold them accountable.