Business Secrets Part 3: The Hard Truth

Concluding Grey Lemon’s three-part Business Secrets Series, we strip our research back to pinpoint the hard truths of business leadership.

If you want your business to thrive for the long-term, here’s what you need to know…

If it's not working, change it

Legacy processes, old ways of working, outdated communication styles are weighing organisations down.

If you find yourself chasing reports, dragging people to internal meetings, or experiencing crossed wires in communication, something isn’t working.

Take a second to stop and ask; ‘How could we do this differently?’ and ‘Do we need to do this at all?’

It’s time to clear the decks and get back to basics.

If you think you have a flat hierarchy, you're probably at the top

Team structure, role clarity and career progression are important. People need to know what is expected of them and what they are being held to account on.

A defined team structure doesn’t mean a hierarchical culture. It means your people are clear on the role they play in the success of the organisation. It gives people something to strive for, and it is important to every individual’s sense of personal achievement and purpose.

Lack of clarity leads to disenfranchisement and disengagement. Do a quick Google search of ‘Quietly Quitting’ and you will see the impact this is currently having in workplaces around the world.

Millennials can't afford to buy their own house – let alone buy into your business

Succession planning is critical to any sustainable business. But outdated business models are creating financial ceilings to the next gen’s professional progression.

If you are looking to retire in the next five, 10 or even 15 years, you need to think quickly about how your business model supports the next generation to lead it forward.

Employee-owned trusts, management buyouts, and more equitable profit-share schemes are all valid options. What’s important is you take the time to understand what is right for you, your people, and the future of your business.

Compete to raise the standard

Competing on fee or salary is a race to the bottom – and it's lazy. Smart business leaders know it’s time to do better. It’s time for industry peers to work together to collectively raise the standard.

The outcome will be clients who understand the value of the service they are buying, and employees who stay for more than just the monthly pay packet.

While you should never take your eye off the competition, if you focus on their business instead of your own, you have already lost.  (See The Infinite Game, by Simon Sinek).

Love what you do!

Passionate leaders build dynamic organisations. Apathy and disenfranchisement at the top have a crippling effect on organisational culture.

If you are a business leader who has lost their spark, allow yourself the time to find it again. Smart leaders surround themselves with people smarter than them.

So, work together with your team to ensure you are all clear on your collective purpose and vision, and the roles you each play in moving the organisation towards them. Then build a culture that enables everyone to perform to their very best.

Get ready for the magic!

It’s often the hard truth that’s the most difficult to face, which is why Grey Lemon helps business leaders to do so in a constructive and positive way.

We believe your business already has most of the ingredients it needs to be truly great. But even the best businesses have their grey areas. It’s in clarifying these grey areas that we unleash the magic together!

You know your business.

We help you see it through fresh eyes.


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