Tuesday, June 28, 2011

Values that drive successful businesses

I’ve been traveling all over the Americas coaching and training leaders and future leaders in organizations.  I’ve worked with teams and individuals in government, private business, non-profits, fortune 500 companies, and faith-based organizations.   In the past 15 years, leaders have shared with me these common foundational values that drive successful business. 
Transparency - create simple easy to understand strategies, processes and communications.  Make the purpose and importance for all of them clear.
Warning:  Don’t assume people already know your intentions.  Tell them. 
Continual Learning – encourage the sharing of ideas.  DURING the sharing of idea, receive them without judgment.  Look for opportunities to improve.  Share lessons.  Teach others what you know.  If you are a leader, delegate.  Give people access to external and internal learning opportunities as well.
Warning:  Don’t limit learning opportunities only to a favorite few performers.  Share the wealth.  How else with the good get to great and the mediocre get better?
Fiscal Responsibility – look for ways to achieve maximum results with minimum resources.  Seek the highest quality parts, materials, and supplies you can get with the most economical expenditure.    Use time, energy, and talents in a way that reduces/eliminates waste.
Warning:  Don’t be cheap; be frugal. Get the most value for your dollar without sacrificing quality.
Be Competitive – know the competition.  Know what they are doing – good and bad.  Benchmark against the best.  When you have successes, celebrate them, acknowledge results and recognize accomplishments.  Then set new goals and reach for higher (realistic but challenging) heights. 
Warning:  Don’t compare yourself against the average.  Sometimes businesspeople look at mediocre competitors and say,  “at least we’re better than them”.  You don’t want to be better than the average.  Strive to be as good as the best. 

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