Three pillars of successful business leadership are directions, operations and tracking.
Like a camera sitting on a tripod, your business stands on these three legs for its stability. All three are equally important and need a coordination among them to be effective and to make the business stable and successful. Direction comes from the leadership at the top. They must be able to set a clear, decisive and profitable direction for business ventures. It is their job to capitalize on opportunities, perceive and mitigate threats, employee organizational strengths and overcome weaknesses. Opportunities not capitalized on turn into liabilities and will weaken the organization. Challenges not dealt with become threats and threats not managed are turned into emergencies. Organizations dealing with endless emergencies become directionless and often operations start to collapse. Operations dictate organizational competence and the cost of running the business.
Operations must be strategized for maximum output. A regular audit of operations should be implemented so productivity can be measured along with the influx of revenue. As the cost of operations goes up, profit margins go down and organizations can get into the red very easily. This is why systems should be introduced for the tracking of daily accountability.
Tracking is the nerve center of any business, this is where all business activities should be logged; such as cash flow, expenses, productivity, projects and timelines. The more comprehensive systems are in place, the better organizational objectives can be achieved. In the last few decades, enterprise resource planning (ERP), has become essential for business survival and expansion. Manage Your Business has been customizing an ERP system. This system has the capacity to work with many different environments, to enable efficient communication and achieve maximum productivity. It is recommended that businesses see what their needs are and accordingly implement an ERP system suitable for those needs. Simple spreadsheets, hand written registers, emails and SMS services can all be implemented. At the end of the day, what matters is the level of coordination that exists between the D.O.T.