Failure to Execute Using Acquired Skills and Tools
Since 50% of businesses fail in the first two years and 80% within five years, it is good practice to occasionally ask the “why” question. It’s not what I do that matters. It’s how I do it. Think deeply about the axiom.
Excellence in execution is about driving change. How you do what you do, and how you consistently improve must be front of mind for you and your managers.
The key is linking the team, the strategy, and the tasks or actions, and then maintaining the gains via:
* Measuring the results
* Instilling a culture of CANI: Constant And Never-ending Improvement
Let’s get practical
An essential tool to use to grow your business is your USP (Unique Selling Proposition)
The excellent execution of your USP will:
* Determine your price
* Define the difference in the value you provide
* Establish customer expectations.
Relationships, not transactions
Here is a practical example for illustrating The How being more important than The What. Every time a customer buys from your business, you have the opportunity to turn that transaction into a relationship through the consistent deployment of CNEs (Critical Non-Essentials).
Put yourself in your customer’s mind and think about what has to happen to feel success? Think about relationships rather than transactions. The only way to turn a customer into a Raving Fan is to focus on relationships.
A Raving Fan is a customer that is so happy with the experience of doing business with you that they can’t help but tell others. It’s the best and least expensive marketing money can buy!
Why do many CNEs fall by the wayside? It is because they require focus as a high priority, work, and commitment. The CNEs slip because we start to take one another for granted. Do you ever find your team taking customers for granted?
Systemise your CNEs
Differentiate yourself from your competition and create Raving Fans for your business. Make a list of ways to deepen relationships with your customers and then execute that list. Don’t just care about your customers; show them!
Then systemise those ways by writing into your operations manual – don’t have one … start one – everything that must be done for each of those CNEs, frequency or timing for each, and how to track compliance with the system. Tracking compliance is where most fail. Without tracking, your CNEs cease.
Written systems leverage you, the business owner and your managers. Look for ways to leverage yourself throughout your business. To avoid this pitfall, define your USP and create execution, pricing, and marketing strategies around it.
Then develop a list of CNEs that magnify your USP in the eyes of your customers, and make them feel successful when they buy from you.
Finally, systemize and monitor your CNEs.