Whether you are the leader of a small business, a business unit or a corporation, research shows that effective leaders:
- Keep an eye on all aspects of the business on an ongoing basis
- Identify and prioritize what needs attention, and then develop and implement a strategic action plan
The same approach applies in a situation where there is a need for a turn-around.
What is meant by addressing “all aspects of the business”? It’s a holistic approach that ensures that all aspects of a business are examined during the assessment prior to developing a strategic action plan. A proven approach that addresses all aspects of a business is the 6 Cylinder Success Program that was developed by a member of a global Business Academy.
The 6 Cylinder Success Program takes into account inter-relationships among the cylinders. It’s important that all cylinders are working in harmony in order for the business to achieve its full potential. Suppose for example that a business needs to sell more widgets. If the sales manager were to work in isolation, s/he could achieve this by selling the widgets at 50% discount. But this would create havoc: people would be working overtime and the business would be losing money.
Applying the 6 Cylinder Success Program also brings to light that what appears to be an important need may not be the most critical need. For example, suppose a business is losing money. The inside story may be that what is needed is a social media marketing campaign. A holistic approach may confirm that increasing sales via a social media campaign is needed, but there other ways to more quickly stop the company from losing money.
Here are some words of wisdom by Frank Momulla who developed the 6 Cylinder Success Program:
- When you attack a problem on multiple fronts using proven, tested methods, the chances of near-term, dramatic success increase exponentially.
- When you attack a problem on a single front, you’d better hope it works.
- In my world, ‘Hope’ is not a business strategy.