Sir Richard Branson, in a response to a letter written by a young girl attributed 4 keys to success to his remarkable achievements throughout the world. I think as entrepreneurs we look at successful entrepreneurs such as Branson, popping up here with an attempt to cross the Atlantic, there creating Virgin Galactic and say how does he do it?
In essence you cannot separate these – if you have a passion for your enterprise you will take risks, if you have a great team you will commit to working on those projects you believe in, and have a passion for.
So how can you apply these 4 keys to success in your business; for a moment put yourself in the shoes of a manufacturing business with, say 10 employees; every day they manufacture widgets which are then shipped against orders, the also receive returns which have to be processed back into stock or scrapped (hopefully not every day).
In my clients case returns were processed by the manufacturing manager, taking away from the more important duties with over 4 hours a week spent in this area on average. When questioned why the answer was uncomfortable for the manager to iterate. We implemented a process and system which allowed the DELEGATION of this task to another staff member who was more than capable of handling 98% of the returns accurately and consistently in accordance with the system and process we implemented.
The result – we freed up 4 hours per week, or 5 WEEKS PER YEAR for the manager!
What could you do with an extra 5 weeks in your year?
In Branson’s case he is intimately involved in the start up phase (in our case study the implementation of the system and process), he builds a great and committed team who share his beliefs, hands it over and gets out of the way. He will act as a troubleshooter if needed (in our case study the 2% that needed assistance) and worked on projects that helped grow and market his Virgin brands.
How about your business? Can you run the ruler over the business and measure what you are doing against these 4 keys to success? If you feel you are a little bit too close to your business why don’t we have a schedule a 25 minute chat and do what we call a Business Triage; you never know, we might find you an extra 5 weeks in your year so you can fly a hot air balloon across the Atlantic!
Schedule the Business Triage here-