Why Efforts To Improve Business Results Often Fail
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Efforts to improve business results often fail. Why is that? In my twenty plus years working with clients, it comes down to two factors:
- Lack of execution - Good or even great plans are made to improve a process, reduce costs, hire a star player, identify a critical gap, etc. But, when it comes to implementation, efforts fall short. Other things take priority, no one is sure what exactly to do, no one is driving the process, “if we wait long enough this stupid idea, like all the others, will fade away,” etc.
Build into your plan for improvement a plan for what might be a challenging implementation and you’ll find your success rate increases dramatically.
- Lack of accountability - If you make a plan, for instance, to improve sales, but don’t hold people accountable for the activities needed to drive more sales, sales won’t improve. This sounds so basic, but it is a significant issue in many companies. If you announce that more sales calls are required to new prospects, but don’t measure those sales calls and don’t provide any consequences for not performing as expected, then results won’t improve. The same applies to using a new process or reducing costs or staying on budget.
Recently I spoke to a former IBM sales representative and asked him what would happen if he routinely didn’t turn in his sales report on Sunday nights. He said, “Without a legitimate reason, I wouldn’t have a job to go to on Monday morning.”
Build expectations, accountability and consequences into your processes and you’ll see business results improve significantly.
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Great post! Really agree with the 2 points you have made. That which is measured, is much, mcuh more likely to be delievered. Which applies to both the execution and accountability.
A third item that frequently is missing is any ‘real’ strategy and planning. Selling X% more than last year, or ‘keeping up with the competitors’ is not a strategy. Many plans & projects that companies tend to implement are very tactical.
Since most major changes takes quarters or even years to implement, they should be tied to a well thought out strategy. Executing a great new ‘bridge’ in the wrong direction, doesn’t get the product to market any sooner. Then the processes, systems and organization can be aligned incrementally or radically to reach the strategy & vision of the organization.
Happy Holidays! Thanks for a thought provoking post.