Sales Column

 

The Formula for Business Success

 

By Brent Middleton

 

In his book "Good to Great," Jim Collins starts with the challenge, good is the enemy of great. In working with many companies over the years, I recognize that to be true. I have also found that real success often comes from the following pieces of the puzzle being in place. And I do mean all the pieces — even one missing piece can mean a company will fall short of its goals.

 

Inspiring Leadership

Show me a successful company and I'll show you a monomaniac with a mission. Strong leadership is the first ingredient for success and the motor that drives all the other pieces of the puzzle into place. An inspiring leader is not only the CEO, but the managers he or she surrounds himself or herself with. A great deal of time and energy is spent to recognize in others the qualities of leadership that inspire.

 

Strong Organizational Structure

From that inspiring leadership comes the backbone necessary to implant a strong organizational structure. Often a strong structure gives people the freedom to perform without the insecurities associated with wishy-washy rules and blurred lines of authority.

 

Team Development is a Top Priority at Every Level

Within successful companies is the profound belief that their biggest assets go home to their families every night. Investments in bricks and mortar, technology or product development pale when compared to the return on investment realized from developing people. An interest in the future well-being of an employee is the best insurance against losing your braintrust.

 

Superior Financial Management

There is no substitute for being in control of expenses and income. Many good companies have disappeared from the radar screen because of two little words — cash flow. Part of success is living to work another day and it takes an attitude of planning and control to help make that happen.

 

Effective Marketing

Marketing needs to be planned, budgeted and implemented year-round. Successful companies are deliberate, planned and purposeful about their marketing and sales plans.

 

Effective Salespeople

You can sing the praises of engineers, lawyers and accountants, but the people in business who really drive the economy are sales professionals. If no one is selling, the rest of it just doesn't matter does it?

 

Production

In great companies, production is efficient, timely, cost-effective and service oriented. This sounds like a no-brainer piece of the puzzle, but successful companies have had to be deliberate and focused on making this piece happen. Just as we hold salespeople accountable to their behaviors, goals and results, it is imperative that production standards and results be just as accountable. You may be fast but if the job is executed poorly, the former customer will remember that.

 

Client Satisfaction

Can you think of a company you love to do business with? Have you ever considered how your clients, your competition and the public as a whole see you? Might be time to investigate further. Are you accepting mediocre standards in your business? How does that affect your business and your profits?

 

Content Owners

Is the owner content with his or her role in company for the foreseeable future? What does that tell your staff, suppliers and customers? Would you be comfortable putting your best interests in the hands of someone who is coasting? Remember, the culture of any company comes from the top. The speed of the leader determines the rate of the pack. It all starts with you.

 

Business, like any pursuit, whether it be sports, career, family or community must have leadership and dedication. In the words of actor Johnny Depp, "Total satisfaction with your skills is death for your professional life."

 

Brent Middleton is the owner of the Sandler Sales Institute in Salt Lake City, with over 170 training centers nationwide. SSI is dedicated to the development, support and training of sales people, sales managers, as well as entrepreneurs who must sell for their businesses by learning new innovative selling techniques licensed by the Sandler Sales Institute. He can be reached by calling 801-990-3265.

 

Launch - Summer 2008

 

 

For the full "digital magazine" version of Spring 2008, visit: www.nxtbook.com/nxtbooks/growutah/launch_2008summer/