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Monday, January 03, 2011

How to Win in Business

I have been doing alot of thinking lately on what winning means in business especially in the online world.  I think that we often believe that Google, Facebook, Youtube, Groupon etc were home runs but what I would propose is that these companies were not created with a single big win but a series, or high velocity, of small wins.

Winning doesn’t mean you need to go out and hit home runs in every at bat, in fact to be truly successful you need to be getting the small wins on a regular basis.  By improving the velocity of wins you will drive the business faster than waiting for the big wins to come through.  In the simplest terms this means that you need to be looking for the small wins and executing them on a regular basis.  You can measure this yourself and within your teams breaking the year down into weekly increments and measuring the wins you have achieved at the end of every week.  Winning requires great effort and some sacrifice but it will also be fun.  Winning is fun and repetitive wins brings a team to life.  You have to commit yourselves to drive small wins each and every week.

Doing this will be easy A. You focus on understanding the customer understanding who they are, what they want and how you can service them better; B. Deliver the best possible customer experience possible, delivering on your promise to them and delighting them at the same time and C. Driving business performance by ensuring everyone understands the underlying measures of success and the company bottom line so that anyone making a decision understands the impact to the greater company.

Finally you need a great team, investing in your team is key but teams are not measured on paper but their success on the field so ensure you have the passion, drive and culture to allow the velocity of wins you need.

To finish this off I will share my favourite quote from Theodore Roosevelt:

“It is not the critic that counts, the credit actually belongs to the man/woman who is actually in the arena, who strives valiantly, who errs and often comes up short again and again, who, at the best, knows in the end the triumph of high achievement and, who at worst, if he/she fails, at least fails while daring greatly, so that his/her place shall never be with those cold and timid souls who know neither victory nor defeat.”

Now go out and get some wins!

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DFWspartan said...

Amen. The most productive hitters are grinders...they hit singles consistently.

tedwardb said...

Great post Simon. I am in the Medical Technologies & Devices industry and can absolutely relate to your comments. I often witness our sales spending too much time on the "BIG WIN" with protracted sales cycles and 50% probability instead of the smaller 30-60 day sales cycle win with 75% probability! Strategically, I am attempting to coach the a VOC little bites approach, suggesting that only 1-2 BIG wins should be in the funnel at any one time.

Keep up the great blogs!
Steven B.