Is your business on the course to success?

02 November

business-success-tips-for-women

Business success tips for women.

Looking back at the owners of the Titanic, we would say that their strategy was to launch the largest cruise liner in the world to create the greatest loss of lives in history. Clearly this was not their intention, so why was it their outcome? Many organisations today have failed to learn some important lessons from history about how essential it is to have a good strategy.

Last year in Australia alone, we saw the collapse of large companies like HIH, One.Tel and Ansett. These disasters hit so fast and left such enormous financial and human debris in their wake that we are left wondering if they could have been averted.

It’s difficult to say if they could have been, but what we can reasonably assume is that they did not plan for these results. An effective business strategy could have at least alerted them to the potential danger. They could have changed the course of their businesses much earlier and avoided the collision with their own icebergs. Good strategies keep multiple possible future scenarios in mind and allow for quick adjustments.

Get clear on the elements that make up the big picture

With the plethora of information available, many people get confused about the difference between strategy, tactics, business plans and plain, old-fashioned goal setting. Throw the concepts of vision, mission and purpose into the mix and you can confuse anyone.

Values

Core values are those things that are held to be inviolable by the individuals who form a company”s vision. They are the underlying principles that guide behaviour. If, for example, honesty is a core value, have your team decide on a measurable standard of behaviour that determines how the group will behave and make it the code of conduct. It is an incredibly powerful tool for bonding teams and weeding out those who do not uphold the core values in their everyday interactions.

Purpose

The purpose is the reason for the individual, group or organisation’s existence. It is the why we are doing what we are doing.

Mission

The mission is a compelling goal that galvanises action and has a set time frame, usually between two and five years. Kennedy’s mission to put a man on the moon by the end of the 1960s is a good example. History shows us how this inspired a whole nation towards outstanding human endeavour.

Strategy

Once the vision is set this then leads into the creation of the strategy, or big-picture plan, for achieving the mission. It includes strategies in areas such as marketing, financial planning, infrastructure, technology and people.

Tactical plan

From this, strategic priorities are set in each area of the organisation. Tactical plans are then developed which become the operational or business plans and resources are allocated in accordance with priorities.

Vision

Vision is an umbrella term covering core values, purpose and mission. It’s impossible to have a coherent strategy and the supporting business and tactical plans until there is a clearly articulated and shared vision. It’s a bit like going on the family holiday without deciding first on a destination that everyone is happy with.

Working out a vision can be the most difficult part. This is partly because of the confusion about what a vision actually is and mostly because many people don’t know how to create one.

Encourage your team to create an inspiring vision they all agree on. Examine what is important to them and the reason for the organisation’s existence. Some people are initially uncomfortable with this approach. It’s not exactly the hard-headed business planning process they’re used to. Often they baulk at discussing values rather than budgets and bottom lines and fail to see the connection.

Common values underpin a shared purpose for the organisation and once all are aligned, individuals are more motivated to achieve the common vision.

Contact Tina for more success tips for women in business

Sydney Career Coaching provides effective career counselling and coachingexecutive and life and personal coaching services for clients at any stage of their life or career. Our proven approach and strategies ensure success in all areas of your personal and professional life.

For information and assistance managing your money and overcoming the fear of saving, contact Tina Monk, your personal wealth coach on 0413 000 010 or send an email.

Not sure if coaching is for you? Take advantage of our free coaching session as an introduction.

Call (02) 9904 9089  Email Us

Complimentary Coaching Introduction »

 © Tina Monk. Career Counselling and Life CoachingThis article was first published on the Australian Businesswomen’s Network website on 1st June 2006.


Business Success Tips

Is your business on the course to success?

Business success tips for women. Looking back at the owners of the Titanic, we would say that their strategy was to launch the largest cruise liner in the world to create the greatest loss of lives in history. Clearly this was not their intention, so why was it their outcome? Many organisations today have failed […]

0 comments
cv tips

Get your CV ready and sell yourself

How to write the perfect resume.  Writing a CV that sells! You won’t get the career you want without having a strong resume and cover letter, but many of us still get it wrong. Updating your resume should involve more than simply inserting your current job description. Show a potential employer how you can add […]

0 comments
job search tips

Find the gaps in your skills base and be job search ready

How to get a better job or promotion. Before you start working on your resume and putting it out there, you need to make sure you have the right skills for the job you want. By now you should have pinpointed the exact job that you want and completed some research into the relevant companies […]

0 comments
setting career goals

Set your goals now to get the career you want

How to ensure you achieve your career goals over the coming year. Amid the new year chatter of resolutions to lose weight, cut back on caffeine or to give the credit card a rest, many of you will have that promotion or career change on the top of your list for the coming year. But […]

0 comments
achieving career success

Evolution of the work species

Ask for feedback to get ahead at work. Rather than waiting for your annual performance review, try to suss out how you’re going at least once a month, says a Sydney career coach, Tina Monk, from coaching agency Sydney Career Coaching. “It’s how we learn best, especially when we’re new,’’ she says. ‘‘Don’t wait for […]

0 comments

More business success tips »

Tags: ,

Share
Share
Tweet