Ameet Parekh Review | Tips For Managing Business Performance

One Of The Things That Remains A Constant Challenge In A Business Owners Life Is How To Manage Business Performance? 

 

This means how do I ensure that my systems, my team and my strategies are yielding the desired result at the right time and in the right manner..

 

And today this is what Ameet Parekh will uncover in this session

So let’s get right into it 

 

 Here Are Some Of My Top Tips To Manage Business Performance..

 

 

Tip #1) Link Every Department To Your Company’s Top Goals

 

Firstly identify your top goals then link every department with that goal.

 

If Every Department Of Your Company Has Different Goals Then Won’t Be Able To Achieve The Top Goal.

 

So, make sure you link each department with a central goal.

 

For Example: say you want to make 2 CR in the coming year.

Then you need to link, how many leads marketing has to pump to reach there.

 

You need to link how many sales meeting has to happen to generate that monthly revenue

 

How many customer support team or process will be required to fulfil those orders or offer your services

 

That is how you ensure all departments are linked to a common business goal..

 Tip #2) Build Team Capability to Achieve the Set Business Goal

 This is where you analyse your existing team to understand if there is any skill, knowledge and attitude challenge in your team

 

And once you identify these challenges or gaps

 

Create A Capability Building Plan To Fill Team Skill Or Knowledge Gaps And Align Them To Contribute In The Set Business Goal

 

Because understand this every new goal or every new height that you want your business to reach will demand a new level of capability in yourself and your team to achieve these results.

Tip #3) Create Clear Performance Metrics For Every Department

Any action that goes without being checked will never lead to results.

 Golden Ruled To Business Success Is Inspect What You Expect.

 Which means you will have to define specific metrics to measure results to each department and its members.

 So first assign department level MIS to measure results and

Then define parameters to measure performance for each individual in that department

 

This will help you keep a track weather you are on the right path to achieve your goals or not.. 

 

Tip #4)Inspire Your Subordinates to Go Above and Beyond their KRA

 

This is the part where you play the role of a leader

 

Share With Your Team Members How Will They Get Extraordinary Growth In The Organisation

 

Performing tasks that are withing their KRA will give them the general mediocre growth that everybody gets

 

But inspiring them that if they go above and beyond their KRA, and involve themselves in their roles and commit to improving systems, process and results

 

These are the traits that will lead them to extra ordinary growth

 

This is also one of the ways you will align your team to your business growth goals.

 

Creating WIN-WIN organisation

 Tip #5) Create a Culture of Accountability, Rewards and Feedbacks

 Another major contributor in business performance acceleration is creating high accountability, mechanism to reward people and also offering constructive feedbacks

 How does this work?

 Let me explain..

 So first thing since you have already made measuring mechanism for department wise business performance and individual performance

 Your role is to check this data regularly to monitor performance and also if results are poor, hold the department, their heads and people accountable..

 Meaning asking them questions when targets are not met, understanding challenges in execution and calling out a spade a spade.

 

Until and unless strong accountability isn’t implemented, all your plans will only remain on paper and nothing else

 Apart from accountability you also want to reward people who are going above and beyond to ensure results are delivered in the form of incentives, bonuses, appraisals

 Also most importantly offer them proper feedback and support on areas they are facing challenges

 If these things are done right, I am pretty sure you will have a high performing business no matter what the market conditions are.

 Because in the end, Building And Growing A Business Is Science, Which Can Be Learnt And Then Implemented.

 Hope this helps.

 I will see you soon in the next session.

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