Every serious-minded business leader and organisation must, by now, be working towards making 2023 a more profitable business year for their company than the previous year. Below are four areas you can focus on to guarantee maximum return on investment and better business performance.
The first step toward business growth is to set organisational goals and align resources to achieve these goals. One common goal-setting strategy business leaders use is setting SMART goals. They set Specific, Measurable, Achievable, Relevant and Time-bound goals for teams, divisions and the entire company.
However, a new approach towards setting organisational goals is setting FAST goals. Organisations like Google and IBM set Frequently-discussed, Ambitious, Specific and Transparent goals with their employees. The fact that the goals are frequently discussed helps organisations to monitor progress, learning and the resources used in actualising the goals.
Setting ambitious goals helps these organisations to be innovative, challenge the status quo and improve their culture to achieve their targets. Setting goals that are transparent helps everyone in the company to be aware of each team, unit or division’s performance and create a level-playing ground and good competition among team members.
Marketing and sales
Whenever I am facilitating a sales training or workshop, I often remind sales and marketing professionals that the only aspect of business that brings money to the company is marketing and sales. Others take money from the business. Therefore, very successful organisations take sales performance and improvement serious.
As a business leader, you need to be strategic with marketing and sales. Using the Pareto principle to understand where 80 per cent of your sales – in terms of products and customers – come from, will help you to focus on the best products and customers that matter to your sales metric at the end of the year.
Having a continuous learning and development programme for your sales force throughout the year will also be helpful. Looking at new strategic products or offerings to improve sales performance could also be helpful.
If there is one thing you want to focus more on as a business leader in this 2022, it should be your company sales growth. By the way, remember that sales success is 20 per cent strategies and 80 per cent psychology.
For your company to achieve or surpass your 2022 business goals and sales performance, you need peak performance and maximum productivity from every member of your team. Therefore, it is important to create the right enabling environment, tools and motivation for your team members to excel and for your company to succeed.
If you need to hire new talents, strengthen your Human Resources department, or create new incentives that will drive better performance across the company, take action. You should also find creative ways to retain exceptional talents in your organisation.
Health and wellness
A healthy workforce is a productive workforce. A happy, energetic and relaxed employee is a great asset to a company, the customer and the industry. More than anything else, business leaders must invest in the wellbeing of their employees. With the amount of stress arising from the COVID-19 pandemic, many people in the workplace are already anxious or overwhelmed with the events of 2021. Stress management and wellness programmes for all cadres of the company will enhance personnel engagement and well-being.
At SK Institute, our business performance programme 2023 will help your business and team members set FAST goals, improve sales performance, and enhance productivity and the general well-being of your staff.
ACTION PLAN: Set FAST goals with your team members. Be creative in improving sales and business performance. Invest in the health and well-being of your staff.
AFFIRMATION: I make 2023 my best year as a business leader. I am blessed and highly favoured.
Sesan Kareem is the principal consultant SK Institute, www.sesankareem.com.ng, and founder of HubCare, www.hubcarehealth.com