Executing on a winning operational strategy will help you gain a competitive edge, minimize costs, grow more sustainably and satisfy your customers consistently.
A well-designed operations strategy can help you gain a competitive edge by differentiating yourself from rivals. For example, low defect rates or rapid turnaround times can be prized features to clients with sizeable budgets.
"Strategy is a commodity, execution is an art." -Peter Drucker
Strong operating results can also translate to customer value which better helps you meet their needs and gains their loyalty. It can also form a basis for marketing campaigns and better word of mouth.
A winning operating strategy will also help you continuously improve. Once you have established critical operating metrics, controls and business practices, you're better able to monitor your performance and adjust quickly as problems arise.
Repeatable processes create efficiency and they're more trainable for your staff. When your team feels that they're set up for success, you'll have better retention rates, which in turn will help you avoid the costs of turnover.
You'll also be better able to help your team set clearer goals and monitor their progress more closely. If your team is hitting their goals, they're more likely to please customers and more likely to achieve bonus targets.
A solid operating plan and sound execution on that plan will improve your brand and will lead to a pride of ownership by your workforce.
You'll ultimately have to design an operating model that suits your business. That said, I'm happy to elaborate on a few alternatives here:
Selecting the ideal operating model depends largely on your target clientele and value proposition to customers. Your strategy and operations must be aligned and integrated coherently.
As management consultants focused on private companies, the Growth CFOs at BluePrint CPAs can help you. But even if you don't retain us for service, here are a few practical approaches.
Schedule operational reviews semi-annually
Undertaking an operational review is a sound approach to determining what is going well and what is not. This typically involves direct yet safe discussions between senior leaders and front line workers on how the business can better serve customers.
Set clear goals for the next 6 month period
Know what it is that you want to get from your operating plan and clarify those goals in a clear, measurable format.
Survey your customers and employees
Obtain feedback from your key accounts and internal teams to ensure that they're engaged in the goal-setting process. They have valuable feedback on key success factors.
Select technologies that help you meet your goals
Streamline your processes by eliminating manual tasks and inserting automated controls whenever possible. Artificial intelligence, IoT and blockchain are emerging rapidly as tools that are accessible to mid-sized businesses.
Establish a communication plan
Determine what is communicated, whether it's communicated to everyone or specific teams, the frequency of communication and an advance schedule to ensure you maximize attendance at meetings.
A winning Operations Strategy is a key component of your overall business strategy. Most entrepreneurs focus heavily on their go-to-market strategy, but you need to be equally as focused on your operations.
Rebecca is a Web Designer at BluePrint CPAs. She is a graduate of St. Clair College’s Internet Applications and Web Development Program and has worked as a freelance web designer before joining the BluePrint team.
BluePrint CPAs is a management consultancy that simplifies digital, financial and talent strategies. Our team helps entrepreneurs and their teams grow profitable and modern businesses.
Kit Moore, is an entrepreneur that simplifies digital strategy for other business owners. The team at BluePrint CPAs can assist you with web design, development, analytics, management systems and, more importantly, your overall business strategy. The toughest part of digital transformation is re-training your team - and we have pros to help with that as well.
BluePrint CPAs is a management consultancy that simplifies digital, financial and talent strategies. Our team helps entrepreneurs and their teams grow profitable and modern businesses.
Kit Moore, is an entrepreneur that simplifies tax and financial strategy for other business owners. The team at BluePrint CPAs can assist you with financial technology, tax strategies, mergers & acquisitions, succession & exit planning and, more importantly, your overall business strategy.
BluePrint CPAs is a management consultancy that simplifies digital, financial and talent strategies. Our team helps entrepreneurs and their teams grow profitable and modern businesses.
Joe is a Senior Associate, Strategy Consulting at BluePrint CPAs. He is a recent graduate of the MBA Program at the Schulich School of Business and has most recently worked for Bayer Inc and the Ford Motor Company of Canada. His experience in marketing, sales, and human resources spans various industries including hospitality, logistics, life sciences and automotive manufacturing. Joe loves working with entrepreneurs to develop their digital strategies and help them grow their business.
BluePrint CPAs is a management consultancy that simplifies digital, financial and talent strategies. Our team helps entrepreneurs and their teams grow profitable and modern businesses.