You have a great idea for your business and you’re ready to move forward with it… but do you have buy-in from your team to actually make it happen?
Research has shown that 70% of all organisational change efforts fail, and one reason for this is business owners simply don’t get enough buy-in from their people for their initiatives and ideas.
Some of the most brilliant strategies developed are only worth the paper they are printed on if they aren’t executed well, specifically by your front line employees who are interacting with your customers daily. Nowadays, employees are being asked to execute strategies which are unfamiliar to them having been curated by top management.
According to the founders of the Balanced Scorecard; Robert Kaplan and David Norton, only 5% of employees understand their company’s strategy.
So how can you help frontline employees understand and drive your company’s strategy?
“I find that sometimes as a business owner, it can be a bit of a lonely game and you tend to feel isolated sometimes having to make important decisions (alone). So, it was great to have somebody independent to really help us put in writing where we want to be and how are we going to get there.” – Glen Reilly, Fitzpatricks Newcastle.
“I initially reach out to Your Business Momentum because I wasn't very happy anymore. I was tired. I was struggling to leverage the potential that I had in the business and I was almost at a point where if things didn't change, I was actually going to sell. But I knew I didn't want to sell. I knew there was more that I had in me and more I had in my business. I just needed to find a way to do that.” – Rachel Hall, Evolve Dental Healing.
The world of accounting has undergone a number of substantial evolutions in recent decades. While change is inevitable, it can be said that some evolutions have stemmed from accounting professionals ‘falling asleep at the wheel’ and failing to be proactive when necessary. The rise of financial planning as a new, sought-after and viable profession in the late 1980s is one example.
During that time, I was studying accounting and sensed the emergence of the ‘advice market’. That’s when I seized the opportunity to upskill myself, moving from crunching client data to turning that data into actionable client advice.