What Leads to a High-Performance Business?
When you mention the term “high-performance” you usually think of cars, not businesses. What is a high-performance car? We think it is: “A performance car is an automobile that is designed and constructed specifically for speed. The design and construction of a performance car involves not only providing a capable power train but also providing the handling and braking systems to support it.
Having a high performance car is a great experience until you have to pay for the gasoline, and the insurance? Often double the rates of a regular sedan.
So is a high performance business one that runs its operations fast?
It’s a little more complicated than that, but if you think of your business and the term high-performance doesn’t pop into your mind, maybe you need some help.
In the business world, a high-performance organization is not just profitable, it excels in most areas. Remember the car definition: Everything works together to produce the end result: Superior speed, looks, and ride.
Think of your business ultimate goal as revenue and profits, but you can’t get there without every component clicking. Like a Swiss watch ticking. Precision performance and flawless execution of a plan that is focused on the ultimate goal and includes detailed responsibilities and expectations along with the step-by-step guide for each component.
Even if your business is small, it’s important to break down each area just like you would with an automobile. A car has a cooling system, brakes, fuel injection system, and a suspension. If one fails, the ultimate goal of speed is lost. You finish last.
What are the common components of a business that many owners or managers overlook?
Customer Service – In today’s world, just a few bad reviews can seriously damage your reputation and your sales. Implement a zero tolerance policy for bad customer service. Many people are familiar with the quote “The customer is always right” but did you know the full quote is “Right or wrong, the customer is always right.” There is no room in business to argue over who is right. It’s the customer.
Physical Plant – Take care of your business inside and out. Appearances, lighting, cleanliness, even the way a waiting room smells is important. Everything should be welcoming and comfortable to customers and employees.
Human Resources – Turnover is a drain on your financial bottom line and often there is no good reason to lose good people. Happy employees stay put and stay loyal. Do what you have to do to keep workers happy from managers to part-timers. Work as a team.
Is Your Business a High-Performance Business?
We’ll be writing about more of the characteristics and qualities necessary for a high-performance business in weeks to come.