Building and growing companies is tough work. So why not take advantage of the lessons learned by those that have gone before you and been successful. Unfortunately many executive teams develop tunnel vision when it comes to their business and industry. They fail to leverage best practices that can significantly alter their trajectory.
These best practices impact all aspects of a business from corporate strategy to product design and sales & marketing execution. It can be a bit overwhelming to try to determine which best practices to implement based on your business. This is when leveraging a knowledgeable consultant can pay great dividends. When you get really sick you go to a Doctor. If you encounter a legal predicament, you look to an experienced lawyer. When your trying to maximize the value of your company you should leverage experts familiar with the levers to pull to create value creation.
Often there are many best practices that require little effort but can make a large impact on your business. Win/Loss analysis is one of those things that often falls through the cracks at companies. It doesn’t require anything more then a process and some dedication from the team to execute but the insight you’ll capture could be priceless. This is just one that comes to mind but their are literally hundreds of best practices that require different levels of effort and capability to execute. Not all of them need to be implemented but you should at least be exploring them to determine which make the most sense for your business. Ultimately you’ll need to decide how to allocate resources against them to implement. Failure to do so means you will only be falling behind your competitors and missing opportunities for growth. Don’t let that happen to your business.