“Removing Roadblocks on Your Path to Success”
Promoting Accountability for Team Growth and Creating a Solid Exit Strategy
Times are changing. Every day, small businesses are taking on a more responsible role in the community, and around the world. Those changes are developing from the inside out, as part of an evolving corporate culture. A greater emphasis on authenticity in your message and development of a supportive, yet effective, corporate culture, coupled with a clear movement toward personal accountability at every level of business, is creating new opportunities for growth, from both the bottom line profit and the employee satisfaction perspective.
This past month, we have been exploring elements of accountability in your internal structures, including policies and procedures, ultimately leading to your succession plan or exit strategy.
Here’s a simple Five Step Plan you can use to promote accountability in your business. Our entire article, Promoting Accountability To Enhance Company Growth covers this topic in depth.
- Make Sure Your Team Understands the Big Picture
- Have Clearly Stated (Written) Expectations
- Create an Accountability “Mastermind” Group
- Be Clear About the Consequences of Failure
- Reward and Recognize Success
Of course, an accountability strategy only goes so far. That’s why it’s important to create (or examine and re-create) your Policies and Procedures in a way that supports and enhances both your company’s short-term goals and its long-term strategy.
Are Your Policies and Procedures Helping or Hindering Your Company’s Growth?
The term “policies and procedures” is bandied about rather loosely these days. You will see the term on virtually any web site and it exists in some form in most companies. Do you have specific Policies and Procedures in your organization? If you do, it may be time to revisit how you are handling this important component of your business. Whether or not you have a current set of Policies and Procedures, our article on this topic can give you a better insight into the most important elements that require your attention and follow-up.
You’ve Been “All-In” With Your Business – What Do You Do When It’s Time to Get Out?
Entrepreneurs are a unique breed. successionWe go into business for a variety of reasons and at the top of that list is freedom and independence, financial security, controlling our own destiny and of course, the all-important pursuit of our dreams. We spend years creating the vision, building the foundation and charting our course to success. But what happens when you decide to move on, whether that means your own personal retirement or the sale of your business? Do you have an exit plan or succession strategy in place?
There are plans better suited to different goals and different types of business owners. Consider some key questions when planning your exit strategy or creating your succession plan. To discover the answers to a few of those important questions, check out our article on Exit and Succession Planning.
Let us know what you’ve been enjoying the most in our articles and newsletters and feel free to give us any feedback and suggestions as to what you would like to see more often, or learn more about.
And mark your calendar for the next Marin Business Forum, on June 13th! We are excited to announce Karen Clark as our expert speaker on social media, specifically focusing on improving your professional and authentic online presence.
March 2011 Newsletter
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