Leader Letters are monthly letters from the Maintex Leadership team. This month, Maintex President Linda Silverman discusses a recipe for success in business.
A recipe is a method for achieving a desired outcome. We use recipes in many ways; in cooking, for business development, and in planning our lives. In any domain that we are using a "recipe," we need the same components of success.
The Business Success Recipe
I have identified four key recipe components that lead to success in business (and when cooking a delicious meal):
- Vision and Strategy
- Assembling the Right Ingredients
- Development and Distribution of Products and Programs
- Continuous Improvement
Vision & Strategy
Think 3-5 years into the future. What do you want your business to accomplish and how do you plan to get there?
Your vision is your goal. It answers the question, “What are we promoting and where do we plan to go with it?” A vision statement serves as the anchor for progress in your business. But beyond expressing aspirations, you also need a framework for strategic planning. Strategy is how your company can achieve and maintain the vision you have set. Vision and strategy are a very important starting point in any successful recipe.
Assembling the Right Ingredients
In the case of business, the "ingredients" refer to the team you have assembled. This includes both your internal team and your external business partners.
Finding the right internal team members involves careful hiring. Each company should seek employees with divergent skill sets, perspectives, and backgrounds. Teammates with this variety will enhance our own limitations and broaden the company's perspective. These employees also need autonomy and responsibility, but must be a good fit for the company culture. When employees approach their work with a sense of connection and ownership, they will make stronger decisions for your company.
External business partners, such as vendors and consultants, should feel like trusted confidantes. Adding consultants to your team can be very helpful in areas where specific expertise is needed, such SEO or social media. Other partners may include expert professionals, such as attorneys and accountants. Strong, trusted partnerships make a huge difference in a successful operation.
At Maintex we partner with the companies whose products we represent. We select professional partners who are innovators, provide peak performance, and who share values and representation with the Maintex brand.
Development and Distribution of Products and Programs
This is the core of any business (or recipe). It's the everyday work - the stirring and baking - that keeps your company moving forward. This is how we deliver unique programs and provide value for our customers.
At Maintex, our products and programs are where we focus our creativity. Successful development and distribution of new products and programs means showing our clients tools and techniques that help them increase their efficiency. It means constantly offering new solutions for the changing marketplace.
The final portion of this recipe for business success is continuous improvement. Constant assessment and innovation occurs in every aspect of our business. We streamline business operations to increase efficiency. Processes and products from the past must be replaced with today’s successful solutions. We must also monitor our competition and adapt to marketplace changes.
At Maintex, our goal is to provide fantastic customer service, fast and efficient delivery, accurate billing, and top tier products, which are sold by a professional and knowledgeable team. In order to meet that vision, we must consistently assess whether we are meeting our goals and implementing successful strategies, tweaking and improving our processes along the way.
The Clean Up
No matter if you're applying a recipe to life, business, or a tasty meal, you will need the following components to reach your desired outcome: Vision and strategy, the right ingredients, the everyday work, and continuous improvement. All of these components together are my personal recipe for business success.