33 reasons why ‘8’ is ‘gr8′ for your business

Today is a quick refresher of some of the things you should be thinking about when trying to maximize business value.

Whilst strategically 3 is a magic number – here are 33 reasons why you should think abut the importance of ‘8’s’ in your business.

  • Vision is the first core ingredient of business success. If you don’t know where point ‘B’ is – or what it looks like – it’s very hard to move from ‘A’ to ‘B’ – we call this Vision process ‘Illumin8′
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  • Having agreed your Vision you need to produce a practical Plan to get from ‘A’ to ‘B’ (the second core business ingredient) – we call this ‘Extrapol8′
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  • The third core ingredient is the Desire to make the necessary changes  – to drive the Plan and achieve your Vision. You need a continuing process to drive implementation and not slip back into ‘business as usual’ mode – we call this ‘Stimul8′
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  • While you are thinking about ‘desire’ – make sure that your people don’t forget to also work on the big, long term stuff – ‘We 8 the business elephant’
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  • Sometimes in business you need the necessary changes to happen quickly – in which case, let’s ‘Acceler8′
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  • You must define your business purpose (and values) if you want your team to be bought in – ‘Reson8′
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  • Similarly, at your business core there must be a consistent culture – ‘Indoctrin8′
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  • Remember – there are only 4 ways to grow your business – to grow you must apply the principles of ‘Germin8′
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  • Build your value promise and sustain your business competitive advantage – ‘Differenti8′
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  • Remove the inefficiency and waste from your business – ‘Eradic8′
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  • While you are still thinking about efficiency and reducing waste – you should also remove the things that consistently frustrate you - Don’t ‘Toler8′
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  • Capture the knowledge that is important in your business (particularly if you are thinking of selling your business) – ‘Replic8′
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  • Define how high you ‘jump’ (for different customers) and don’t do ‘too much for the money’! – ‘Separ8′
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  • Service businesses need to create an internally driven business culture and brand – ‘Integr8′
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  • Ensure that you have delighted customers by building a consistent customer service framework – ‘Customer Celebr8′
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  • Having got delighted clients – let’s make the most of them and generate referrals -‘Prolifer8′
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  • Periodically you need to challenge and rejuvenate your existing business model. Iif you stand still in the 21st Century you will quickly be overtaken – ‘Innov8′ and ‘Recre8′
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  • If you want your people to be ‘pointed in the right direction’ then you must have relevant business key performance indicators – ‘Coll8′
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  • Make sure your team are always working together ‘in harmony’ – ‘Syncop8′
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  • Brainstorm some great new ideas and involve your whole team in the process – ‘Cogit8′
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  • Put your team ‘under the microscope’ to highlight where people working practices need improvement – ‘Evalu8′
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  • Make sure that your team are collectively growing in the Knowledge Age – ‘Educ8′
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  • When you are in the midst of a change program – make sure you recognize and celebrate incremental improvements -‘Team Celebr8′
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  • Maximize your team motivation – it’s not all about money, so remember E=MC2 – ‘Remuner8′
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  • Decide on your management style (the world is changing rapidly) - ‘Dict8′ or ‘Collabor8′
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  • Remember the ‘4 weapons’ of great leadership – Context – Values – Trust – Momentum – ‘Team Activ8′ 
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  • Consider buying a new business (in addition to your existing business) to grow customers or optimize your business delivery – ‘Aggreg8′
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  • Prepare your business for (family or management) succession. Whatever you do, don’t leave succession planning to the last minute – ‘Regener8 ownership’
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  • Prepare your business for due diligence (in advance of a sale). Make sure that problems (which will impact the value of your business) are rectified before it’s too late – ‘Substanti8′
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  • Prepare your business for sale (at least 3 years before you consider actually selling) – ‘Gener8 capital value’
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So – if you need help to get from ‘A’ to ‘B’ and want to maximise the value of your business – call us Don’t Stagn8 !

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