KEY POINTS:
Over recent weeks, business owners and managers have been returning to work to face potentially the biggest challenge of their careers - surviving 2009.
To achieve this goal, management will need to be more organised, more focused and more strategically astute than ever before.
Unfortunately, most managers
returning to work will approach this challenge the same way they've approached every other past challenge, and they'll fail. From the first working day of this New Year, there is a need for a behavioural change in the way that leaders and management go about their prioritisation of activities to guarantee the success of their businesses.
Let's look at how most senior executives approached their first day at work in 2009: They came to work, turned on their computer, then sat down to read up to 200 emails. Their first action in this watershed year was likely to be returning someone's wishes sent last year!
Silently and surely, the management team is seduced into the same rhythm as last year. Short-term issues and emails are already setting the agenda and the opportunity to start afresh has been lost.
It doesn't need to be this way. Management needs to take the opportunity, from their first day, to step back and stay in the big picture for as long as possible. Part of this process is to make sure you are as prepared and organised as you can be.
On airlines, we are constantly told that when the cabin loses pressure, a mask will drop down and it is recommended that if you are with children, you put on your mask first before helping them. The same applies to flying your own business (or business unit). Owners and senior managers need to get themselves sorted out before trying to help others.
First, managers need to sort out their own post-holiday blues. Staff read the energy levels of management and react appropriately. If you come to work with purpose and enthusiasm, you will find that your energy will be infectious. Secondly, it is a good time to instill in the team that every detail matters. The best way to stop everyone thinking about how bad the economy is and how their jobs may be in jeopardy, is to keep them focused on keeping customers happy.
Here are some key issues managers need to address from the get-go.
* Check out the cashflow situation. Cash is the oxygen of the entire operation so this is a number one priority. Take note of any customers that have not paid in December and take action to collect this money. Ensure that you have a forecast of cash out to March and note any problems that may occur.
* Review the budget until the end of the year. It is important to know what the overall objective is and how much needs to be invoiced to make it a reality. If there are deficits in the budget from the last calender year, you will need to find ways to make this up.
* Follow up the best leads for sales from last year and get the sales team focused on closing these. Set up short-term incentive schemes for sales until the end of March so you can achieve your full-year results as well as motivating your sales staff. Review each salesperson's own pipeline of sales and help if required.
* Review the strategic plan and re-evaluate objectives. Times have changed and it may be an opportune moment to revisit the strategic direction of the business using new information about the economy and trends that have taken place.
* Start the New Year with a motivated and enthusiastic service culture. Work with your support staff to help them shake off their post-holiday blues. Encourage your support staff to visit customers and to say hello.
* Budget for the next financial year. This will need to be started and significant time put aside with your colleagues to make this a realistic document. The strategic planning work that you will have done will assist greatly in setting the direction of the business and in providing insights into sales trends and identifying new business opportunities.
At this point you can start calling in your subordinates. Set up meetings, with objectives for each meeting that fit in with the overall plan of attack.
Remember those emails. Use your diary to put aside some time each day to review them. Have a folder set up where you can save important emails. If you have an assistant, get them to review the emails and send you only the most important ones.
For the rest of the year, try to start your day by writing down the three most important things that you need to do for the business, based on your strategy and your objectives. Start your day with the highest priority issue and work your way through the others. If you can do this, you will find that your chances of success in 2009 are greatly improved.
Craig McIvor is the Managing Director of Corporate Management Advice Ltd.
www.managementadvice.org
