Organizational Discipline Leads to Profit by Monte Wyatt
Think of the companies that are part of many people’s everyday lives: Apple, Netflix, Starbucks, Trader Joe’s, Whole Foods, Nordstrom. Why do you think these companies have grown and thrived? They keep improving to meet market demand.
Apple’s iPhones changed the cellphone landscape but continued to introduce now-standard but once-game-changing items such as its iPad and Air Buds. Netflix took a gamble and moved from distributing DVDs to streaming content. Starbucks not only provided consistent coffee, but it also capitalized on the growing demand for fair-trade beans. Trader Joe’s makes private-label foods something to look forward to rather than buy in a pinch. Whole Foods has brought organic foods to more people’s lives. And Nordstrom sets itself apart not only for its products but for its exceptional customer service.
These companies not only capitalized on needs in the marketplace, but they also identified opportunity and they consistently looked within to see where they could innovate.
The difference between good companies and great ones is asking the hard questions which focus on building profitable corporate citizenship. You achieve greatness with a clear idea of where you want your business to be and a sound strategy for getting it there. This happens through decisive action, conscious choices, and disciplined leadership.
I believe there are five disciplines that every business needs to possess in order to create exponential growth and greater profits. These five disciplines help organizations achieve sustainable, predictable, stable, and consistent success with an emotional connection. The disciplines are Strategy, Business Development, People, Execution and Mission.
Your business Strategy leads to sustainability in your organization. It’s how you articulate the way you do business. It’s where you want to go and the roadmap to get you there. A strategy is about skillful management that attains an end. It’s about creating longevity.
Business development leads to predictability. Predictability helps create sustainability, and predictability comes from understanding the causes of past growth to calculate future exponential growth. Effective business development and predictability come from testing and measuring numbers in three essential areas – marketing, sales, and customer service. It’s about gaining and retaining customers.
The Discipline of People leads to stability. You create an environment where people know their role and they feel appreciated. A business can do this by investing in three areas: leadership, talent development, and recruitment. It’s about employee growth and engagement.
Execution leads to consistency. Consistency provides familiarity and a level of assurance that you have your act together, you’re in control, and you’re dependable. You know when a business is consistent – when you are treated the right way all the time, and you can count on this in your dealings with the business. It’s about organizational efficiency and processes.
The Discipline of Mission creates an emotional connection inside and outside a company. A company should spotlight its impact on the world. It should have an answer for employees who ask, “Why do I go to work every day?” The mission is why the company does what it does. The discipline of mission enables people to connect to your company. It is made up of three main ideas that define your organization – core values, purpose and giving back.
These Five Disciplines focus on improving things that can be measured often in areas that might have been overlooked and that can be used to foster growth.
Innovation is necessary but constant growth in every discipline of business is crucial. And profitable.
About Monte Wyatt
Monte Wyatt is the co-author of Pulling Profits Out of a Hat – Adding Zeros to Your Company Isn’t Magic. Monte Wyatt is the CEO of AddingZEROS, an executive development firm. To learn more about the book, executive development services, and how to become a AddingZEROS Certified Facilitator, visit www.AddZerosNow.com.
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