Over a lengthy, varied & successful career (four different Chief Executive/ Managing Director roles , 2 non-executive directorships and numerous consultancy assignments) I have identified common characteristics & needs that SME’s should address to ensure effective performance - especially in a growth environment.
As an observation, SME’s could do more to establish a clear strategy that overarches a focused/structured operational plan producing excellent results.
Whilst I am reluctant to generalise, I have a view that many SME’s tend to be confused by cluttered thinking in their planning & implementation processes. The basic idea & concept of the business may be good earning reasonable returns but sharp incisive plans & focus are missing. In short, the company could be doing better.
Some Owner Managers have a tendency tend to focus on their ‘pet’ ideas and run the business in an unstructured way. They may well micro-manage. Employees, including some senior managers in the firm, can be in awe of the owner and so be reluctant to openly give their thoughts/opinions for fear of up-setting the top-man. Frequently the Owner Manager will be unclear about his personal plans & how the business fits with them. Indeed the Owner Manager may well give the impression that his business is his ’toy’.
My experience tells me that what is required, in many cases, is an open dialogue with key employees with the aim of establishing:
A Coherent Strategic Plan
An Operational Plan which is phased and prioritised.
It is essential to get the ideas of key employees on the table in an unthreatening manner so as to ensure the company gets buy-in. After all they are close to the ‘coal face’ and always have ideas which aren’t visible from on high.
I have, over the years, developed a bespoke method of facilitating this planning objective through an interactive process involving the senior management & key employees. The final outcome is a documented Strategy & Operational Plan with associated allocation of responsibilities for action and timescale. It is always accepted by everyone and gives a very good chance of success. I supplement this process by embodying further follow-up, if required, covering structure/employee evaluation as an example.
I would be delighted to meet any SME that is interested for exploratory discussions about this service which has proved successful for a number of companies with whom I have been involved.
Mark Price:markfprice@virginmedia.com
I am an enthusiastic businessman- currently offering my extensive services as a management consultant or non-executive director- with experience of several business sectors where I have held posts as…
