Ways To Build A Strong Company

I have to give credit for these points to Robin Sharma.   He is an inspiration to me.  His words and thoughts and methods resonate with me.  His recent blog, made me pause and reflect on my own business as well as the businesses’ of those to whom I consult.  They are gems of wisdom.  Here is Robin Sharma’s blog: http://www.robinsharma.com/blog/.
See also my earlier blog entry on Building a Brand, click here: http://successinsuccession.wordpress.com/2011/03/18/building-a-brand-successful-succession/ 

1. Have a Board of Advisors. Find people who have built great companies and ask them to sit on your advisory board. Meet every quarter. Show them your numbers. Share your struggles. Listen to – and act on – their advice.  Alternatively, there is an organization called TEC – Canada which is a coaching organization intended to get the best from a company’s executives.  More about TEC-Canada here http://www.tec-canada.com/history.

2. Set Up A Peace of Mind Fund. Install a reserve fund with at least 12 months (and ideally 24 months) of operating expenses. Set it up so a portion of your monthly sales automatically goes into this account. You’ll sleep better at night knowing your business can run even if income slows down.
 
3. Focus on People and Culture. The single best way to protect your business is to hire top talent and invest in training your people so they amp up their performance in good as well as hard times. And work on your culture. That’s the “special sauce” that brings out the best in a team.

4. Work On Your Business vs In It. The old Michael Gerber distinction is key here. Robin Sharma spoke at a YPO/EO event last week and he met a young entrepreneur who’d just sold his company. Robin asked the entrepreneur for the single best move he made. “I worked on my business vs in it.”  The entrepreneur explained his core concentration was on building systems and processes so the business ran superbly without him.

5. Become Obsessed with Value Creation. This is not some pie in the sky idea. It’s a hard-hitting business growth tactic. Obsess (yes, obsess) over how you can add more value to more people and the revenues will take care of themselves.
Thank you Robin Sharma.

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