We’re going to start this article with how most people end theirs – by telling you what we do. We help leaders transform their businesses. We help them to grow. We help them turn away from a state of distress. We help them get focused and we help them plan. We’ve done this ourselves, and now we’re helping our clients do exactly the same. Our track record speaks for us – and that’s what enables us to share our insight with you. But what does business transformation actually mean? After all, everyone’s talking about it, right?
Let’s get back to the nuts and bolts for a second.
In order to change, you need the right environment. And to create the right environment, you need the right mind-set. And that’s where we get involved. Adapting to change, in any shape or form, is hardly a one-off exercise. Throughout your business life, you will lose count of the number of times you’ve had to flex and bend, twist and contort, to make sure that your business stays on track, and grows. So, getting it right, is critical. It’s always going to be there – and the sooner you learn to embrace it, the sooner you’ll see the rewards of your hard work.
So, we are sharing some of the most common challenges that we help businesses with when it comes to business transformation strategies.
Balancing the needs of the business with the needs of the employees
Whether we’re talking about business growth, cash flow or new business opportunities, many business leaders, at some point in their lives, find themselves at a crossroads where the needs of the business don’t appear to match up to the needs of their workforce. The entire business community talks about a more fluid way of working and engaging our teams to deliver innovation, creativity and productivity – but how many business leaders truly hold that at the core of their business strategy? The challenge is real – and is one that should never be overlooked. Without a unified team, your business focus is blurred. And there’s very little that you can do to change that, unless you find the right balance.
Keeping company culture consistent
Maintaining a consistent company culture through growth and uncertainty is a huge challenge for any business that started out and has progressed into a successful, value-delivering organisation. Many cultures change, many teams become disillusioned. And whether it’s your intention to change a culture or not, the problem arises when confusion sets in. You’re growing a team that demonstrate a conflicting set of company values simply because they don’t know what those values are. And where there is no action, action arises – and very often, it’s completely the wrong kind.
Keeping up with a changing market
Forget about getting ahead – sometimes, keeping up is hard enough to do. Especially if you have an organisation that is not geared for change or disruption. Not uncommon, organisations are being told to change, embrace, become agile – but if they’re stuck in legacy software and product that simply can’t move, then keeping up with any changing market demands simply doesn’t bode well for them. We help organisations get themselves market-ready and operationally up to speed, to be able to keep up and soar ahead.
A sensitive issue, we know. You’re only as strong as your leadership team. And your leadership team is only as strong as the team that support them. A perfect catch-22. But when you are faced with both conundrums, we say, get your focus right. Sort your leadership team out and get them aligned to deliver (note: DELIVER) towards the same goal, the same strategy and at the same pace. Once your leadership team is in line, filtering that down throughout the rest of your organisation becomes an activity that is encouraged and supported by every head of department and every board member. We’ve helped many leadership teams become value-producing machines – and where tough conversations are required, we venture in. You have one chance at this – make sure you have the right team heading in.
Identifying and prioritising business strategies strategies with the most growth potential
We’ve spoken about it before – the old 80/20 rule. You’re wasting your time if you’re spending 80% of your energy on things that product 20% of your value. So when it comes to identifying and prioritising business tasks that will deliver the most growth potential, you need to start at the beginning. We help organisations understand their market, their customers and the shortfalls internally that restrict them from identifying how best to deliver, and derive value.
Knowing how (and when) to fund the growing costs
Failure to fund sufficiently and well in advance is consistently the single biggest threat to success. But knowing how and when to fund the growing costs can quickly become the hangman’s noose in any business strategy. WE bridge the gap between businesses who are ready to grow, and the investment community – so we know when businesses are ready (or not) to actively seek funding and grow. And when they’re not, we help them put the necessary operations in place to get them funding ready. You don’t need to try hard to find horror stories of businesses who listed too soon, or whittled away millions of pounds worth of investment – without delivering growth. We want to prevent that – and enable you, the leader of your business, to feel confident about your long-term growth plan.
Turning business around when things have gone wrong
Sometimes businesses get into states of distress. It happens – more often than you think. And although we’d like every single business to be ridiculously successful, there are some that become lessons teaching the rest of the business community how not to do things. But, just because you’re in distress doesn’t mean you’re at the end of the road. In fact, sometimes, being in distress opens up a clear opportunity for an honest look at yourself, your business and the work that needs to be done to turn things around for you. Read more about how Hardy, one of our co-founders, helped to dramatically turn this business around – here.
If you’ve gotten to this point of the article, then something we’ve said has struck a chord with you. Your business either needs our help, or you recognise areas within your business that need drastic improvement. We are industry-people. We have walked in your shoes – and we understand the pressures you are under. It all starts with a conversation. Let’s have one.