“Continuous improvement is better than delayed perfection.”
– Mark Twain
Many business owners have experienced the arduous effort it takes to develop a strategic plan. A strategic plan is typically 3 – 5 years long. What is not often discussed in the conversation of a strategic plan is that the strategic plan should be reviewed annually. Why would management go through the trouble of strategically planning the future if the plan is regularly reviewed and renewed?
Your strategic plan may not turn out as expected, even if you work hard to consider every aspect of what you want to do for the next few years, plan for every contingency, and attempt to position your business for success. There are too many unknowns and too many contingencies that cannot be considered. A review of the strategic plan accounts for positive and negative changes that are unexpected. Even after planning, a business should always look for ways to improve its position. Even still, don’t wait until the annual review of the strategic plan to look for ways the business can improve!
Continuous improvement is the process of improving on all elements of the organization. Look for ways to improve products, services, processes, customer service, sales, talent pool, etc. Continuous improvement, by the terms, is not a one-and-done process. Continuous improvement should be viewed as a tool for competitive advantage. The strategy allows the business owner to always look for a way to set the business apart. Does it mean that there is something wrong with the business if it is continuously looking to improve? No!
Imagine, for example, that your orders, contracts, or the number of customers increase. You need to ensure that you are positioned to handle this growth. On the other hand, imagine your sales have decreased, customer service complaints have increased, or you’ve lost a key employee. It is necessary to work to resolve these issues. However, continuous improvement is not only about changing what may be going right or what may be going wrong in your business. Continuous improvement is also the small steps that may lead to future betterment.
Look for innovative ways to deliver your product or service. Seek feedback from your stakeholders (customers, employees, vendors, etc.) on suggestions that might make their experience with you better. Continuous improvement is about taking incremental steps so that, in the future, you may experience monumental gains.
If you want to improve but don’t know where to start, IMS can help! IMS takes a holistic approach that focuses on factors that drive performance. IMS will tap into your most valuable assets, ask the right questions, ask even more questions, and use systematic approaches to recommend a plan of action.
Posted by Dr. Drena Valentine to LinkedIn on April 21, 2021
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