Having signed up to toughening up your business culture to dramatically improve your financial controls and your company’s profitability and long term viability, you will be prepared for more tough decisions ahead.
The decision to make this change was not taken lightly – and this is a journey from which there is no turning back.
These posts have been inspired by my What if Forums members of owner managers and bosses of family run enterprises. Challenging them to cast their minds a decade or so into the future – and think long and hard about what they and their families need and expect them to deliver from the business – sparked realisations that major step changes and a ‘get tough’ culture was needed to deliver what they and their nearest and dearest need.
Having taken you through the first stage of the four-pronged attack that starts with planning the future of the business, and examines where you are in your journey as a boss and leader, the type of business you want going forward, how you are currently managing your financial information, let’s progress to the people, financial and mental preparation.
Your management team is critical to executing this cultural change – because it’s impossible for you to do it on your own. Dig deep and address the following questions:
Is your management team up to the job?
We’ve previously asked the question “Would You Want Your Management Team Running A&E?”. If the answer is no, then they should not be playing a key role in this culture change as they currently are. This question may also elicit the response that “You’re Not the Person I Hired”. What you need amongst other thing is a High Performance Unit with clear purpose and goals, total alignment – and 100 per cent buy in.
Are they tough enough to jettison the underperformers?
This brave new business world you have embarked on demands mental toughness from you as a leader – and from your management team.
- Do they have the mind set to be pro-active rather than reactive?
Stay posted for the next critical step. In the meantime, you can e-mail any queries to me on via firstname.lastname@example.org, go to @RichardWhatIf on Twitter, Richard Bosworth on LinkedIn or post on www.whatifforums.com.