Creating a Business Success Recipe
What will your business success recipe contain? A recipe is defined as a device which is likely to lead to a particular outcome. It outlines the ingredients and procedures for preparing a dish. In this case, the proposed dish is your business success for the future. Business strategies come in many forms. You need one that is right for you. Why not try the business success recipe? A new approach can generate innovative ideas.
Traditionally a recipe identifies:
- The dish.
- Picture of the finished article.
- How many it serves.
- Timescales for preparation and cooking.
- Temperature.
- Utensils needed.
- Ingredients
- Method
- Serving suggestions.
Let’s put that into a business strategy format. As every business is different, here are a few questions you can ask yourself. There are many more to consider for a delicious outcome.
- Dish
Which aspect of the business do you need a recipe (strategy) for? You may be looking at the whole business, a department or a specific project. What’s the budget going to allow?
- Picture
Do you have a clear vision of what you want to achieve? What will success look like? What are your success criteria?
- Serves
Who and how many does it serve? Are you looking at internal and/or external customers? Where are these people?
- Timescales
How much time will you allocate to preparation? How long will this strategy take to implement? Do you have the time available?
- Temperature
How much energy is required to make it happen? How much motivation is there in your team? Do you need to turn up the heat?
- Utensils
What equipment and other resources do you have or need to succeed? Examples may be:
- Sufficient well considered finance — cash flow, profit and Key Performance Indicators.
- Good working environment.
- Ingredients
What ingredients do you need, how much of each and in what state?
- What’s already in the cupboard?
- What’s past its sell by date?
A food recipe may read 450gms onions, thinly sliced. Some general business examples may be:
- A given quantity of people of high quality, well trained, with specific knowledge, skills, and attitude.
- Clarified marketing with sales and research.
- Method
What actions have to take place and in what order? Who is responsible for each action? How will you hold people accountable? Some basic examples are:
- Test regularly; ensuring motivation, well being, and meaning. Adjust temperature, if required, to reduce loss of people.
- Once ready, serve on an established supply chain, liberally splashed with quality customer service.
9. Serving suggestions
How will you communicate (serve) this to all stakeholders?
Be challenged by your peers for a different perspective and to create your own business success recipe on September 13th. Please visit our website for details.
Originally published at Training For Results.
