The Power of A Strategic Framework – The Nine Pillars™ of Success
Most small businesses find themselves at one point or another in a place we call the Wilderness. They have experienced some growth, have perhaps built a small team but nothing is organised. All operations are ad-hoc and the business owner finds that he or she is spending 90% of their time putting out fires and working daily IN the business to try and keep the whole thing afloat, rather than working strategically.
Businesses are all about people. And people need structure.
Just look at children – they are constantly looking to you for direction and guidance even as they explore their boundaries and often push the limits. But a child that has boundaries or a framework to reference will grow and flourish under your guidance.
Your business is no different. Show me a business that has plateau or is struggling with cash-flow or staffing and I’ll show you the lack of framework within minutes.
Growing businesses need solid foundations. Our Nine Pillars™️ framework is a complete guide to structuring your business to ensure growth and best practice. By working through each of the pillars, business owners can master operations across the key areas and work towards earning the revenue and lifestyle they want from their business.
Building a business is similar to how you would build a house…
1. Governance & Compliance
First of all you start with the foundation which we call Governance and Compliance. This is what defines what is acceptable within your business and what is not. This is the area of authority, decision-making, accountability and culture. This is where you clearly define that ‘people like us do things like this.’
Once you have laid the foundation you then begin to build the walls… moving over to the Operational Pillars:
2. Product
Product comes next. This is where you get very clear on who your perfect customer is; developing the customer persona. Define your value proposition and build out the products that will serve this customer and set you apart from your competitors. In this pillar you also want to understand how far down the value chain you can take these customers.
3. People and Partnerships
It is at this point you need to realise that you cannot scale your business without other people involved! It’s unbelievable how many businesses try to do so! Understand here who the people are within your organisation that you need to deliver on the products you will develop. You may not currently have these people and will need to hire them. Additionally, forge partnerships with other key businesses outside your company and your industry. Develop alliances and work co-operatively with people who can help expand your market reach.
4. Marketing
Once you know what you are going to offer and who the people are that you want to be attracting, the next step is to shout it from the rooftops. Marketing is the next pillar in our Nine Pillars™ Framework. Understand the marketing opportunities best suited to establishing your brand and delivering consistent leads.
5. Sales
Supporting our Marketing Pillar is the Sales Pillar. Develop a sales playbook for your team, scripts, a service outline and a feedback loop to further enhance this area of your operations, your marketing message and the products you have developed. A net promoter score will measure the loyalty and satisfaction of your customers.
Then we start with the finishing touches to the building… We consider these to be Foundational Pillars also but they often need to be established once the Operational Pillars have been addressed:
6. Reporting
Continually remind yourself that the things that get measured get done. Your Reporting Pillar needs to include financial and non-financial assumptions. Ask yourself – ‘how do we get the right data to make clear, accurate and precise decisions?’ Reporting will help you and your teams assess how to change the actions you take today so that there is a better outcome tomorrow.
7. Information Technology
The often-overlooked pillar in many companies and yet it is very important in your overall framework. Once you are clear on products and processes, start to implement the systems that will help you deliver these outcomes more efficiently. This might mean building out automation using technology in the areas of CRMS, financial reporting, logistics, customer service… this will help you stay more connected to the customer but will consistently provide better results.
8. Business processes
At this point, this is where the whole ship begins to look more like the navy rather than a pirate ship. Everything within your business needs to have processes developed around product delivery, sales communication, reporting, team management and so on. This will streamline operations ensuring consistency (thus building trust with your customer) and will eventually allow you to have an asset that is worth selling – if that is your end goal. The customer experience should be exactly the same every time they interact with your business. Everything should be documented, so the processes become rinse and repeat for your entire team, including new hires.
9. Leadership and Management
This is the roof that sits on top of all of the other Pillars. This is where you ensure strategic objectives are aligned across the business. Vision is set and revisited regularly. The values of the company are established and communicated regularly. The Leadership & Management Pillar is essential for constantly reassessing the strategy, development, innovation and accountability for execution within the business. Assessment of the strategic plan sits within this pillar – how will you know you are moving towards your vision of success? Make sure you have a start line, a deadline and a finish line. This pillar establishes the Wildly Important Goals that are important to the business.
Nine Pillars™️ Of Success - Building a Business with Purpose
Understand your business better, identify any gaps or weaknesses and start growing your business, one pillar at a time.
