Value Creation
23 March 2010
It’s amazing how many owners of companies are so focused on managing day to day activities that they don’t create the space to look up and see where they’re going. It’s so important for the owner / MD to have a clear END IN MIND; to paraphrase the Cheshire Cat in Alice in Wonderland, “if you don’t know where you’re going, any road will take you there”. Working out where “there” is generally takes time, reflection and challenge.
During a recent assignment it quickly became clear that the owners had been so focused on driving the revenues and surviving that they hadn’t managed to create the space to work out as a team where they were trying to get to and how they could get there.
Through a couple of workshops we guided and challenged them – the result being that they now have a five year plan, a clear END IN MIND and some key strategic actions they need to diarise in order to achieve them. An incidental benefit is that they are now addressing some significant revenue opportunities they had been talking about for months, but hadn’t created the time to progress.
Now, having quantified those strategic opportunities, they’ve started work to turn them into revenue because they’ve realised that the value of the day to day work they were prioritising over the strategic stuff was tiny by comparison.
What’s the value of the day to day work you’re tied up with and how does that compare to the value of the strategic projects you’ve sacrificed to the back burner as a result?
Posted: 23/03/2010 22:25:56
by
Tom Williamson
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