Big changes in a corporation can offer up many opportunities to gain a little more ROI out of the business. Below are some examples of how three companies in different industries accomplished this goal by asking themselves some simple questions:
A client in the IT industry just relocated to a larger headquarters. They used the relocation as an opportunity to dramatically reduce remaining paper files. Not only did they create an additional 10% of available square footage, they are proud to role model current backup and storage methodologies.
Another client in professional services dramatically increased efficiency when they acquired a smaller more specialized firm to become a new revenue stream and serve clients better. Some of their increased efficiency was accomplished through their approach to integrating the newly acquired firm. Recorded training sessions were posted on their Intranet. Standard operating procedures (SOPs) were updated based on the orientation and Q&A sessions.
An electrical distributor went for ISO certifications before its competitors. As our readers know, the application process can be tedious. They used a participative process to improve processes, update training programs, and change job descriptions and performance reviews. They went even further and used the ISO certifications to increase the visibility of their company, be the basis for customer guarantees, and attract prospective acquisitions.
Even coping with uncertainty or changing regulations can become an opportunity to revisit purpose/mission. The Affordable Care Act (OBama Care) has cued more than one healthcare organization to consider increased specialization, collaboration or merger.
When you start a significant change project, try to pay special attention to NOT inadvertently PROTRACT A KNOWN PROBLEM. Could your relocation cue you to hire a real CFO and not continue to tolerate incomplete analysis provided by a staff accountant who is over his/her head? Could you leverage an acquisition to establish a real board of directors? Could you leverage being nominated for a major award (“Best Places to Work”, “Entrepreneur of the Year”, INC 500, etc.) to improve your measurement of employee or customer satisfaction?
Known as The Growth Strategist®, Aldonna Ambler built and grew a suite of companies to help midsized B2B companies achieve accelerated growth with sustained profitability® A Certified Speaking Professional (CSP), Ambler has addressed over 2000 audiences and hosted a syndicated online talk show about growth strategies for 9 years. As a growth financing intermediary, Ambler raised over $1 Bil dollars for midsized companies. The winner of over 2 dozen prestigious national and statewide "entrepreneur of the year" awards, Ambler is available to speak about “profitable growth during any economy” and/or serve on the board of a growth-oriented privately-held company.