How to close the competitive gap between you and your peers
The anti-hero played by Michael Douglas in the movie “Falling Down” is someone we can all relate to at different times in our lives.
Life hasn’t been a walk in the park for the character and he reaches boiling point and begins a one-man assault on his perceived injustices.
We’ve all been close to that boiling point many times but having a sense of stability comes from how we organise our resources, this includes seeking help when required.
Surviving in business can sometimes drive people to boiling point, there are pressures from all sides, customers, suppliers, employees etc.
Identifying a starting point can be very confusing, there are so many potentials but here’s a suggestion:
Close the gap on your top competitors one basic function at a time.
1) List your top competitors, who do you admire most and for what reasons?
2) Why do you admire them, what basic functions do they accomplish better than you?
3) How do their project teams maximise their resources better than yours?
4) Once you have listed these reasons develop a programme to close the functional gap with your competitors, one basic function at a time
5) Get the buy in from your employees and management
6) Implement an incentive and rewards scheme for closing that gap and getting the basics right.
During the execution phase to close the competitive gap:
1) Project tracking and being proactive when problems arise, that means the team recognises and acknowledges problems before they threaten to disrupt.
2) Continuous identification of the major risks and skills gaps internally and externally. This includes 3rd party suppliers, contractors and other parties involved. If you need better suppliers/ materials/ to close the gap with your competitors, then get them.
3) Implementation of risk mitigation strategies as quickly as possible, nip things in the bud with corrective action before they become a problem.
Vompt is a platform that will help you close that competitive gap.
Contact me if you want to find out how Vompt can help you perform more efficiently and close the gap with your competitors.