Tuesday, September 14, 2010

Top 7 Critical Success Factors for Business

I have been asked to join the panel on a series of Webinars addressing businesses concerns post the Global Financial Crisis. See this link for details: http://www.corporatecanary.com.au/uploads/ProtectGrowFly.pdf

In formulating my material for the Webinars I have listed what I feel are the 7 critical success factors for sustaining profitability in business.

Over the next 7 postings I will dedicate each entry to discussing one of these factors.
  1. Plan
  2. Competitive Velocity
  3. Customer Satisfaction
  4. Network
  5. Technology
  6. Culture
  7. Global Thinking
First and foremost in my opinion is to have a business plan. They seem to have become a bit passe but given the pace of business today it is imperative that businesses have at least a basic operating plan and budget as the framework to keep things in focus.

This plan needs to be organic, changing and evolving as opportunities and challenges arise. Reviews and updates should happen at least quarterly to keep the business on target. Both financial and operational metrics should be measured to allow for early detection of problems before the business reaches crisis point.

Not sure how to write your business plan so that it is a useful tool that can be used to drive the success of your business, Ivy Business Consulting can assist by either completing the entire project or facilitating your own staff in the compilation process through insightful workshops that will sharpen the focus of even high functioning management teams.

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