Profit Leak 3 — Are You Too Focused on Tactics Instead of Strategy?
Are you working longer hours than ever? Is your team screaming they cannot take on another initiative, but you feel that you must add more? Are key priorities getting pushed back because short-term issues keep consuming everyone’s time. You may be suffering from being too tactical and not spending enough time on strategy.
Activity vs. Productivity
Organizations lose lots of time and energy running in circles, zigzagging, and starting and stopping because there was not enough thought given up front to desired outcomes and best paths to getting them. Could you be guilty? Are you setting aside at least one day a month and two days a quarter to bring your team together to have strategic discussions? If you are like most, the honest answer is no! I am repeatedly told “We do not have time for meetings; there is too much work; and everyone already knows what must get done.” However, this is where you are a danger to yourself and your team. You are most likely confusing activity with productivity.
A good strategic discussion results in developing better ways of approaching your business. The very best leaders look at how hard everyone is working and decides there must be a better way. They require everyone to think about how they approach the business, projects, functions, etc. and to ask themselves:
- How can we do this with fewer resources?
- How can we do this in less time?
- Why does it have to be done the way we are doing it?
- How can we do it faster, better, and cheaper?
If you do not stop and constantly challenge the team to ask these questions, you never break bad habits, never start down paths you ought not to travel, never misuse resources that could be used for higher return priorities. When you don’t ask these questions, you miss the bigger opportunities and confuse being busy with being productive.
If you are interested in a addressing your “profit leaks,” let’s schedule a time to further discuss your business and how we might work together to patch up your leaky bucket. Call us for a FREE consultation (305) 722-7213.