The 5 key indicators that you are running a successful company.
Every successful CEO needs a good dashboard. They need to have objective data that they review on a consistent basis to make sure that they have information necessary to ensure the company is headed in the right direction.
1. The Spiritual Goals of Your Company
Business owners and CEO’s of various size companies understand the importance of having goals for their organization. Many times the goals that determine the companies success are related to the financial or team member side of the business. However, for Christian CEO’s another factor must be considered and evaluated on a weekly basis. In order for Christian CEO’s to be good stewards of the business that God has given them they must consider the spiritual goals of their company. They must evaluate how well they are doing at honoring God through how they handle the financial aspects of the business as well as how they are honoring God through the various relationships that they have developed as a part of the business. Many successful Christian CEO’s get a weekly report on the salvations that have come about through their business or how their company is deepening people’s faith who are a part of their company. The C12 Group offers a “Strategic Plan for Ministry” seminar that helps business owners think through the spiritual goals of their company.
2. The Sales Activities and Behaviors of your Marketing Team
Part of being an excellent steward of a business is recognizing and being aware of the sales activities of the business. Many CEO’s prefer to designate the sales review process to a senior sales manager. However, a weekly review of the sales cycle and closed sales is the essential information that is needed to make wise decisions for the future regarding staffing, research and development, and infrastructure. Many business owners make decisions hoping for future profits. In reality, today’s decision should be based on past and current sales.
3. The Strategic Priorities you have set for yourself and your key players.
One of the biggest mistakes that CEO’s and business owners make is to not determine or know their own personal strategic priorities or the strategic priorities of their team. Each week the CEO should review their top priorities for themselves and for their company to ensure that they are making the right decisions for their companies future. It is tempting to fall into the trap of making the easy decisions instead of the right decisions. Strategic priorities help CEO and business owners to remain focused on the right activities each week.
4. The Statement of Accounts that reflects your Cash Position.
A weekly review of financial accounts is a helpful tool to make course correction for the business, The fact is that many small business owners never look at or know the financial health of their company. Many business owners are strapped for cash and not in a position to take advantage of key business decisions that can help their company. A weekly review and understanding of Profit and Loss Statements and the current cash reserves is a start in the right direction of knowing the financial strength of their company.
5. The Success of your team as it relates to the satisfaction of your customers.
Great companies understand the importance of company culture. Successful CEO’s consistently review how well their team meets and exceeds the expectations of their customers. Once armed with this information, successful companies offer rewards based on how well their staff satisfies not only the basic needs of their customers but also their desires and feelings. Successful business owners should know how and how often their teams are being successful at communicating their brand through excellent customer service.