Some time back, we were conducting employee focus groups in preparation for the development of a new base salary program for a client company. As sort of an ice-breaker or warm-up, we posed the question: What is XYZ’s mission and purpose as an organization? Stunned silence for a moment, and then one blatantly honest soul blurted out, “No damn clue.” Heck, we figured this guy must be a 2-percenter….one of the outliers. Soon, though, everyone in the room jumped into the fray and described a total lack of understanding of the business’ goals or even their reason for being. Other sessions held later that day were remarkably similar. Our take-away? This organization is another of the many who operate under the assumption that as people come and go, they will intuitively know what the organization is trying to accomplish, and how each individual can contribute through their efforts to the company’s overall success.
The bottom line for us: the process of learning by osmosis clearly isn’t the best in the real world of business. People at all levels need to have a basic understanding of what they are trying to accomplish and why, in order to achieve results. Teaching everyone the basics of business in general, and your business specifically, makes dollars and sense! Using short, well-planned meetings held over a period of several weeks/months, can help you to give your team a solid foundation. Here are some of the topics you might wish to include in your Business Basics sessions:
- Why companies are in business, and what value they bring to their customers
- How companies measure their success
- Where revenue comes from at your company
- Concept of a “critical number” and a look at your critical number or numbers right now
- Unique features of your company positioning strategy, and value to customers; a look at your key competitors
- Your Company’s Big Picture Goals
- How each team member affects key financial measurements
Business Basics can include many other topics that you may wish to add over time. Our advice: Teach Business Basics, and your team won’t be clueless!
{ 0 comments… add one now }