In last weeks Monday Morning Mindset I asked what the number one question you wanted to have answered was. The first question I received came from Peter Marks. He asked:
“I want to know if I have the right organizational strategy. It’s a very competitive market for us now and I want to know if I’m headed in the right direction.”
Peter, there is one key concept about organizational strategy I want to share before I specifically answer your question. Here it is: customers don’t care about your corporate strategy. They only care about one thing and that’s whether your products or services make their life easier or better.
In turn, the best organizational strategy is to answer the question, how will we improve the customer position? This type of strategy; which can be completed in six hours maximum, is simple and powerful.
But here are some specifics. You’ll know you have the right strategy when the following five results are present.
- Your customers love your work. You hear repeatedly that you are making your customers life better, more successful, more rewarding or easier. This is not a one off type of comment, but rather a continual refrain from your ideal customers. Either in customer interviews or project completion meetings, clients rave about your work.
- Your employees live your strategy. You hear from each employee a clear, confident, compelling recitation of the corporate strategy in 60 seconds or less. When employees can do this they aren’t intellectualizing the strategy. They are living the strategy and that is a game changer for most organizations.
- Your sales pipeline is full of unsolicited referrals. Without question, referrals and recommendations to peers, colleagues, friends or family members is the greatest compliment you will ever receive and it is a clear indication that what you are doing is valuable and worthy of being referred. Your customers will only refer others to you if they believe that by doing so the person they refer to you will benefit from the introduction.
- Your P&L is flourishing. Not only are you receiving a full measure of unsolicited referrals, your current clients and prospects are willing to pay you for high value. They’re not bottom feeders looking for a deal. They’re savvy partners that recognize value and are willing to pay you for the quality of your work. This leads you to have a flourishing P&L.
- You’re attracting top tier talent. Not only are you receiving a continual flow of unsolicited referrals to new customers, you are also receiving a continual flow of top tier talent that want to work for you. The work you do and the value you provide has created the reputation of superlative work and an excellent place to work.
The bottom line is that an effective strategy works for the benefit of your customer, your employee and your bottom line. Which of the five results do you want to create this week?