When I first started out in commercial real estate working for a large national firm, my boss was reluctant to share property financials with the property management team. This meant that we were completely unsure about the performance of our properties and whether or not we reached our goals. We were literally operating in the dark.
If you´re thinking about doing a strategic evaluation as part of your company´s growth plan, it´s critical to have everyone on your team focused on the same goals. Start the brainstorming process now by asking your management team these 3 questions:
1) How would you describe the company´s overall mission? Your vision as a leader is key, but it´s meaningless unless you can adequately transmit it to your managers and they are included in that vision.
2) What do you see as the biggest benefits or hurdles as the company moves forward? Sure, we all know what the issues are in our companies…or maybe we don´t. Asking your employees their opinion will ensure you´re not ignoring the elephant in the room.
3) How do we satisfy our clients? At minimum, the answers to this question will reinforce how well you service your clients; it will also give you new ideas on ways to amp it up. Think, too, about what a great opportunity this is to showcase what your company does best: provide solutions for your clients.
Stay tuned for my next blog on how to determine where you need help most.