4 Ways to Improve Your Business Operations
No business leader gets up in the morning and says to himself or herself, “I want my business to be mediocre today.” Rather, you really want your business operations to be outstanding, different from others, well-run, efficient, profitable and something that you and others are proud of. Your aims are to excel as author Charles Specht said, “You will never be disappointed in your pursuit of excellence, for there are no traffic jams along the extra mile.”
What Is Operational Excellence?
Operational excellence is defined as making ongoing improvements to aspects of your business operations in order to gain a competitive advantage, maximize value for each customer and optimize the value of the company. It requires efficient systems, focusing on and fixing problems quickly, improving quality and delivering superior customer satisfaction. It must be a never-ending crusade.
Stated Larry Bossidy and Ram Charan, in their ground-breaking book “Execution: The Discipline of Getting Things Done,” “Follow-through is the cornerstone of execution and every leader who’s good at executing follows-thru religiously.”
4 Ways to Improve Business Operations
- Start by hiring the right people, have them do the right things and inspire them to excellence. Employees are the heart, the eyes and ears of your business and need to be included in planning, feedback and the process of continual improvement.
- Set specific, realistic and attainable goals and then measure performance. A good goal is one that is well-understood in the organization and that people pay attention to.
- Focus unrelentingly on great customer service. Delight your customers, don’t just “satisfy” them. Understand their needs and march to the drum of their opinions. Make sure your pricing provides outstanding value that will keep your customers interested and loyal.
- Focus on your strengths, but also rigorously repair weak spots.
And, Seek Expert Financial Assistance
To help you grow your excellent business operations, seek financial assistance from the experts at Approved Business Lending. We can help you with financing needs including commercial real estate, quick business funding and unsecured lines of credit.