Doing what's obvious is not always easy, as David Maister explains in "Strategy and the Fat Smoker" (one of our favorite books). As 2010 dawns, and New Year's resolutions abound, how can your company follow through on the new promises it makes to itself?
1. Have a big idea. What's the big idea you are selling to your clients this year ? Partner Mark Adams says, "Companies have been in 'deep detailed execution' in 2009 - recovery, reduction, restriction. We need mentally to get our minds out into 'grab the future' mode."
2. Plan meticulously and execute relentlessly. Fortune may favor the bold, but there is a difference between big ideas and big risks. Partner Rose Lewis says, "As we come out of recession, companies still need to execute on a well-thought plan. The market isn't quite ready for big risks yet, and if you have had flat growth in 2009, it's better to do a measured approach." Measure your performance - know whether your plan is adding value by tracking your performance against key value drivers.
3. Focus on your key strengths. Create an unfair competitive advantage by doing something you are good at, something that your company uniquely excels at. You should know, better than anyone else, what makes you money. (If you don't, come in and see us and we'll be happy to help you sort it out).
4. Be hungry, really hungry for new business. This is where your investment should be going. Get on the phone, get out into the market and start asking for the business.
5. Use partnerships. Investigate linking up with other companies who might offer complementary strengths to your own, to further increase your value proposition to potential new clients.
If you would like Pembridge to help you keep your New Year's resolutions by acting as a non-executive director on your board, or delivering a series of strategy reviews, please email info@pembridge.net or call +44 845 2600 344.-ends- Visit: www.pembridge.net For more information or photography, please contact Esther Porta on : 0207 351 7374 Mobile : 07870 439159 or esther@3commpr.co.uk
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