Best Practices

The Best of the Best: Recapping to Ensure Your Company’s Success

By Richard Voreis

This article nears the end of the series I’ve been writing since 2013 focusing on best practices to increase your sales, profits and overall company performance. When I started writing, we were just leaving the worst building construction recession since World War II. Things have really changed for the better since that time and business is very good right now. In fact, those companies who implemented the best practices I’ve been writing about are doing much better than others—especially on their bottom lines.

Shared Knowledge

I was asked to write these articles because my firm provides a broad range of consulting services to subcontractors, general contractors, architects, engineers, and manufacturers and sup-pliers to the building construction industry. We’ve worked with dozens and dozens of glass and glazing subcontractors, so we know and understand the challenges in the industry and are constantly up-to-date on what’s working. That’s the information I’ve been sharing with you in these columns.

In our consulting roles we see what works and what doesn’t in your type of business. We pass this insight along to our clients so they not only learn in the shortest period of time, but also the easy way rather than the hard way. We’re updating this information continuously based on our constant exposure to glass and glazing subcontractors on a national basis. In other words, these articles have focused on how the most successful companies operate.

Just because your company has been successful in the past does not guarantee it will continue. We’ve found that companies are in trouble when they hold on to fond memories of past success and constantly try and emulate them as they address the future. Successful companies appreciate those fond memories, but still look for ways to change as a springboard for continuous improvement. Stability doesn’t come from not changing. It comes from continually reassessing what works and then discarding what doesn’t work or can be improved.

Change is a Must

Continuous improvement also applies to those company owners who have read and implemented the advice from my articles, because you never stop improving. Change is good and necessary in order to be successful on a continuing basis. It’s extremely important to embrace change, because standing still is just another way of falling behind.

During the five years since I’ve been writing these articles I’ve talked to readers who expressed their sincere appreciation for the knowledge that’s been shared. I’ve talked to others who regretfully missed reading a few of the articles. Everyone wants more, so I’m going to briefly highlight some of the best of the best practices. To ensure your company is embracing change, maximizing sales and profits and staying ahead of your competitors you need the following:

  • An effective strategic planning process;
  • Effective execution of a formal strategic plan; and
  • Enhanced employee engagement and accountability.

Employee empowerment is a hot topic and is important in any business environment. However, without employee accountability in the organization, the top executive or owner ends up being the only one held accountable.

Remember:

  • Hold your employees accountable;
  • Establish annual company goals (top priorities); and
  • Implement employee objectives and action plans that support those goals.

The most effective way to have both employee empowerment and employee accountability is making sure your company has stated annual goals and employee objectives that support them.

To view the laid-in version of this article in our digital edition, CLICK HERE

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