In a 12-year study, of over 20,000 businesses from around the World, 150+ Business Researchers, Economists, and others have identified the “formula for success” for business. To be successful, it comes down to three simple principles. All successful companies are using these tactics.
This group, looked at over 50 factors that influence good and successful businesses. They looked at market, product, individual factors like logistics, and research & development. Although each has influence, they become a subset of the three overriding principles of;
- Setting Clear Goals & Objectives for the Organization from the top down
- Setting & Identifying Clear Measures and Standards for each and every activity within the organization
- Setting & honoring Clear Deadlines or Timelines
This complete study will be published in the upcoming months in The Economist. I listened to Brian Tracy discuss recently on the Ziglar Podcast, and wanted to share. I will enthusiastically read the publication when it arrives at the Newsstand, and report additional information in this blog as well.
Executing on these simple and “clear” principles, a business should be successful, and it makes perfect sense. As a leadership Professor, I preach that a leader must be willing to accept responsibility for results. When you think of leadership and the responsibility, before you can accept that, the plan must be “clear”. Objectives for your organization must be transparent to all in the organization. Each department should establish their goals & objectives that support the organization.
After all objectives are set, they must be easily monitored, measured and managed. Every activity within the organization must be known, and the ability to time it must be developed. When you measure, you can improve and set goals on those improvements. If it is picking, packing and shipping a parcel, or typing a blog post, or setting up a new account in your CRM system, each activity that an organization does on a regular basis should have standards.
When it’s all in writing, it must be time bound. Proper, Planning, Prevents, Poor, Performance … If you set goals, and measure them, all things need a beginning and an end. There is no such thing as an open “plan”. Put a date in stone!
Set it, Measure it, and Calendar it! Three great principles, that if you execute well, you and your business will be successful!
As a Ziglar Certified Trainer, our Goal Planning & Achievement classes will teach you each of these three items in one convenient setting.
Contact us now, in order for you and your organization to get on the road to success!