Whatever your position with a company – your role within the organisation matters. There are various functions that each member of the team, as well as your customers, should be able to count on you to provide.
Everyone is expected to come through on promises and commitments made, and to deliver on their responsibilities. If this isn’t the case, a business will never thrive, and may not even survive. Here, William Buist, explains why companies need to have a clear ‘baseline of accountability’ and how to instill one throughout your business.
I used to think I used a coaching style with the teams I led. Then I went on a coaching course to learn a little bit more. Imagine how disappointed I was when I found out that I hadn’t been coaching at all!
It turned out that all I had been doing was being vaguely encouraging while I told them what to do and how do it. And I was so busy because I always needed to know everything they were doing, so I would always know what to tell them to do.
I discovered that getting people to do things my way, no matter how nice I was while I was doing it, was nothing like coaching.
It was Mahatma Gandhi who once famously said, “There’s more to life than increasing its speed.”
And his observation applies to business as much as it applies to life. Businesses that have the most success are the ones willing to take the time to slow down and think about what they are doing.
This is borne out by an Economist Intelligence Unit study that found companies who slowed down made, on average, 40% more sales and 52% higher profits than companies who had set getting faster and faster their main priority.
So what aspect of your start-up will benefit from you slowing down?
Now we are in the middle of an economic downturn, one of the most important things small companies should do is to keep a firm control on their cash flow.