Losing business is always one of the scariest elements to corporations and business owners. Making money or Building a money factory what your choice is. During our corporate life, meeting our KPIs was always the driving factor for our performance. Those KPIs involved client retention, profitability, business growth, team development, etc. Thus managers were more of street hagglers trying to make an extra profit. This has been the case for agencies and clients alike.
On the other hand, there are great leaders, who had the vision, and consistent management styles, that took the brands to a new height. In the midst of economic crisis, they managed to turn it around in their favour.
Invested in their teams and groomed them, whether you agree with them or not, you have to admit that they have made a difference. They managed! Worked ON the business, not IN it! Identified team responsibilities, KPIs, and made them accountable.
Without delegation, would the job have been done? Definitely yes, and would have saved some money as well, but wouldn’t have grown the business.
After setting the foundation for a great business (Time, Delivery, Destination and Financial Mastery), investing in marketing is critical for growth, nevertheless, if that is not coupled with an investment in systems and team, the business would remain stagnant.
Having an entrepreneurial spirit would allow you to take the risk to reach your goals. It means that you leave a legacy for people to learn from and follow. In corporate life, entrepreneurial visionaries, will not be able to function without the blessing of the business owner.
In summary, the critical elements of a successful brand:
1. Establish the right foundation
2. Invest in marketing
3. Establish systems
4. Invest in your team responsibilities / let them share your vision
5. Assign a leadership team and incentivise them
You need to ask yourself; are you ready for the challenge? Do you have the vision?
All the best,