Transforming Business are the most successful businesses that are continually experimenting to learn what works and what doesn’t. They focus on meeting customer needs by clarifying goals, shortening feedback loops, and measuring performance based on outcomes, rather than outputs.
Fix your Vision and Focus on your Mission
To enable and empower decision making, teams need a framework of reference to align their actions to the organization’s mission. The mission is the statement of purpose for what your organization stands for. Every great mission needs a compelling and aspirational vision. The clarity with which you communicate the vision gives people purpose, direction, and constraints as to why the initiative they are taking part in matters.
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Focusing on the principles help individuals and teams make independent decisions at speed that are aligned to the organization’s mission, valued behaviors, and desired culture. It should note be a set of explicit rules or command and control statements of how people should operate. This helps in transforming business to the relevance of the day and age it operates in.
Learn, Adapt and Innovate
To become a high-performance organization, you must develop the capability to continually adapt, adjust, and innovate. This requires a deliberate practice of experimentation and learning. A successful business should continually keep experimenting to learn what works and what doesn’t.
Businesses that can most effectively accumulate new knowledge and leverage that insight to make better decisions wins. Organizations with the highest quality information make the best quality decisions. To accumulate new knowledge, we must experiment. By experimenting, we learn. Whoever learns the fastest wins. Learning to adapt and innovate helps in transforming business quickly.
Build Feedback Loops with Customers and Users
Customer testing should be at the start, not the end. If you’re not testing with customers as soon as possible to understand if their problem really exists? Therefore, that your solution addresses it, then you’re wasting valuable time, effort and resources.
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The best people to provide feedback on your hypothesis are real customers—not your boss, or colleagues, or even team members. Regular and direct customer feedback is your guide towards fit, purpose and success. Make sure you design a system of work that gives the team frequent opportunities to test and incorporate customer and user feedback.
Measure Performance and Decide
Measure performance by collecting the data. The data we collect becomes inputs for reflection, decision-making and adapting strategies. How are we moving toward the desired outcome? Should we adapt the objective of our original mission? It’s how doing and learning enables better top-level decision making, not just in the execution of a given solution.
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The longer we wait to collect data and measure performance, the harder it is to inform our next steps especially when operating in extreme uncertainty. By not transforming a business, the higher the level of risk the business is exposed to. Transforming Business, teams, or even yourself is challenging. There’s no one-size fits all method to achieve success. It’s a combination of hard work, persistence, and patience. All the Best!
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