Business Strategy

Are you satisfied with your business strategy?

By October 15, 2022 No Comments

Is your business strategy designed to ensure you meet your organisational goals? Do you have an operational plan that clearly sets out the steps to execute your business strategy? 

If you answered ‘no’ to any of the above questions, then you are not alone. We talk with many CEOs and Business owners who are not satisfied with their strategy or don’t have one at all. Like the old saying, if you don’t know where you are going, then every road will take you there. 

Often our clients are working very hard and spinning their wheels because they don’t have a strategic plan to follow, their executive teams are not aligned, and they end up with KPIs for the company that are either unrealistic or insufficient to achieve the company goals. This is a very key area of our expertise as getting this right, will set your entire organisation up for success and conversely, getting it wrong may cost you dearly! 

One of our clients was struggling with languishing revenue, high staff turnover, a misaligned senior executive team that did their own thing. They were not able to break through this cycle and could not grow revenue even in the best of times. Our client originally thought that sales training may turn this around for them, but the problems we identified went much deeper. 

They were pursuing “a dream” having goals, but without a proper strategy. 

Year after year, the CEO had to explain to the board why revenue growth goals were not achieved. This made the board lose confidence in the CEO, and would have led to an inevitable conclusion. 

ECG defined a strategy whilst aligning all of the executive team at the same time. We also created an operational plan, assigned tasks and time frames to individuals so everyone knew what had to be achieved, by whom and by when. This delivered coordinated action, real focus on outcomes, and accountability into the leadership team. 

Being so fired up and pleased that they now knew what they had to do, they also asked us to assist with the execution to ensure success. 

We restructured a part of their organisation. We assessed their people that were required to deliver on the strategy to ensure they had the skillsdesire and passion to succeed. We recruited new executives and supported the CEO throughout the execution process. ECG even stepped in and ran certain functions as interim executives until problems were sorted out, and replacements hired. We reviewed and re-engineered the KPIs to ensure that they were also aligned with the strategic goals and ensured that the commission schemes rewarded the behaviour required. 

This client has smashed their revenue goals for the first time, they have expanded interstate and overseas, they are now planning their growth, not their survival anymore!  

In other cases, the owners we helped stepped away from their organisations to pursue other interests in life. 

This could be you!  

Want to know more?

It is very easy to keep working in your business rather than on your business, why do that when a 30 min conversation will cost you nothing and will change everything! Call ECG about business strategy development now.