5 Steps to Avoid Failure in Your Business Transformation

There’s nothing more frustrating than having key objectives for the senior team to accomplish, only to see them struggle to get to first base. It’s not intentional, and no one likes it. But it happens. There are several reasons for this, and most of them unique to the individual companies themselves. Often times it has as much to do with the culture and overall direction of the business, as it does the competency of the team being able to complete the assignments. Failure to launch is not only a saying, but could be a symptom of a team that struggles to move beyond their own comfort zone in finding a path forward.

Senior management teams can take several steps to avoid failure to launch when working on company objectives. Here are five steps to help you in this process. There are more steps, and I’ll include them in future posts. Take a hard look at your team and determine if any of these issues may be the culprit that is holding your team from playing to its potential.

1. Clear Communication and Alignment: Ensure that all members of the senior management team are on the same page regarding the company's objectives, priorities, and the rationale behind them. Clear communication helps in fostering alignment and commitment from the outset.
2. Establish Ownership and Accountability: Assign clear ownership of each objective to specific members of the senior management team. This ensures that there is accountability for driving progress and achieving results. Regular check-ins and progress updates can help in keeping everyone accountable. Remember, you get what you tolerate. Don’t give poor performance and half-baked execution a pass – hold each other accountable.
3. Resource Allocation: Ensure that the necessary resources, including budget, personnel, and technology, are allocated appropriately to support the objectives. Lack of resources can hinder progress and lead to failure. It's essential to assess resource needs early on and adjust as necessary. Sometimes this is a money thing, but often it’s making sure that the team members can carve out the time necessary to focus on these projects. It can become a balancing act between working in the business, and on the business.
4. Risk Assessment and Mitigation: Identify potential risks and obstacles that may impede the achievement of objectives. What could go wrong? Take the time to game this out first so that you can develop contingency plans. These strategies can help mitigate risks to ensure that the project stays on track even in the face of challenges.
5. Breakdown Objectives into Manageable Tasks: Large and complex objectives can be overwhelming and lead to inertia. Break down the objectives into smaller, manageable tasks or milestones that can be achieved incrementally. What is the best way to eat an elephant? One bite at a time. This helps in maintaining momentum and providing a sense of progress. Most teams don’t focus enough on this. They don’t anticipate the necessary time and resources necessary to actually accomplish these goals.

Good luck in tackling your key objections. Don’t be afraid to try something new, and to step out of your comfort zone. Identify and remove the obstacles that create the failure to launch syndrome in your business. It’s a new world, with new opportunities available to all that reach out and grab them.

Mike Philie can help validate what’s working and what may need to change in your business. Changing the trajectory of a business is difficult to do while simultaneously operating the core competencies. Mike provides strategy and insight to ambitious owners and CEOs in the Graphic Communications Industry by providing direct and realistic advice, not being afraid to voice the unpopular opinion and helping leaders navigate change through a common sense and practical approach. Learn more at www.philiegroup.com, LinkedIn or email at mphilie@philiegroup.com.