Practice Might Make "Perfect" But BEST Practices Make Money
Borrow ideas and strategies for faster success
As executives and small business owners we are faced with on-going business challenges as well as
opportunities. Securing a job or running a company requires the ability to use an assortment of skills
and experience that are often outside of our comfort zone and /or area of expertise. So what's a
person to do?
We can all take a lesson from big business about benchmarking best practices and how to effectively
beg, borrow or swipe proven ideas, tactics, and strategies.
When you use a best practice you're essentially learning from other people/companies experiences
and eliminating the need to "re-invent the wheel." So right off the top you increase the potential to reduce costs, and time. Learning from others will also allow you to avoid pitfalls, improve performance and expand your stash of implementable solutions to a broader range of issues.
Here's more good news - best practices aren't hard to come by. It just takes a little research and some
good communication skills.
First, look for people/companies who are already doing/achieving what you want to do. Who just
landed a great job in record time? What company is enjoying double-digit growth in this economy?
Who got loans and backers for expansion? How did someone make a successful transition from one
industry to another?
The Internet makes this kind of research easy to do. Ask your network on LinkedIn for referrals
and introductions. Read business journals, do a key-word search on Goggle. The success you want
is out there.
Once you've identified mentors and models, you need to do some probing. If you want the same
results, you have to do all the same things the same way. A cursory look will lead to a poor
imitation and poor outcomes. Someone once said: "There is no information overload, only filter
failure."
Here's an example... You hear about another small business running in-store seminars to drive
traffic and sales. Ya think - no problem I could do that. But hold on a minute - what do you
really know about the objective, process or the outcomes?
If you dug a little deeper you might discover the in-store seminars increased traffic and
sales by 6% and 12%, respectively. You might also learn that a critical step was the need
to make attendance confirmation calls to all the seminar attendees the day before otherwise
attendance drops to zip. Only after finding all the steps to success are you ready to
effectively implement the idea in your career or your company.
You're going to get this additional information much the same way you got the initial
information. Here's a few simple rules to follow:
- Do targeted research
- Do ask specific questions
- Do get help from your network
- Do go to the source and listen carefully
- Do be open to change
- Don't assume
- Don't prejudge
- Don't skip steps
Now it's time to implement. Here are a few best practice tips about using best practices:
- Pick ONE career or business process/service to improve. (i.e. product delivery or elevator pitch). Don't try to do everything at once. Take it one step at a time.
- Look for one metric to measure. (i.e. Late shipment % or Network to referral conversion )
- Find competitors and companies within your industry and outside your industry.
(i.e. FedEx or Someone vying for the same level or type of job)
- Collect information on the successful, best practices of other companies.
(FedEx spoke and hub system; ability to generate great referrals)
- Modify the best practice for your situation. (Have one retail store per city
act as central hub for shipments; Revise your pitch to be solution oriented vs
responsibility focused)
- Implement the process then measure the results.
Consider this - the time to complete a best practice study doesn't have to take months. A couple of weeks of research and telephone interviews will often provide what you need.
Anthony Robbins put it pretty simply when he said, "If you want to be successful, find someone who has achieved the results you want and copy what they do and you'll achieve the same results." Success is all around us in good times and bad. Stay alert to the changes, take the time to learn from it and watch your career and business excel.
Do It Now: Best Practice Resources to Get You Focused on Your Success
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