15 Aug Is Your Journey Leading You to Growth & Profitability?
At Hive Partners we spend a lot of time focused on the oft-used concept The Journey is the Destination. Profitability, growth and other financial and performance indicators are the prevailing tangible markers used to measure the progress and success of an organization’s journey. At Hive Partners we understand that people play an equally important intangible marker on that journey.
Where is your journey taking you?
Lead from strategy. Manage teams to high performance. We believe these two concepts are inextricably linked together and have multiple underpinnings that need to be considered and attended to throughout your journey.
First and foremost your organization needs to have a clearly articulated and measurable roadmap that has a shared definition of success for everyone taking the trip. Remember that a journey is just that; you may change direction due to roadblocks, competitors, and unforeseen new opportunities. This is ok. It’s the overarching strategy and alignment to a shared definition of success that will ensure that the team continues to deliver as a whole.
Build a Plan to Define Your Journey
A critical and often overlooked step in the journey is defining the journey for the journey. Let’s put that into perspective. Think about the last significant vacation you took. You likely did research on the destination based on your vacation goals. Rest. Recharge. Sightseeing. Family. You considered what you liked and did not like about previous vacations. You talked it over with those going on the trip to make sure everyone was aligned and had the same goals for the vacation. You considered the known and unknown variables affecting this new journey – risks such as weather or political/social unrest, crowds, safety, costs, availability of options, and timing. You looked at pros and cons of various transportation options. You then charted a course and booked the vacation. Once booked you began preparations for the journey – new clothing, stopping mail and paper deliver and sharing emergency numbers with family just to name a few.
When the big day arrives you are optimistic that everything will fall into place to start the journey. However, sometimes flights are overbooked or delayed. Someone gets ill. Other than worst-case scenario and the trip is cancelled; you still arrive at your destination but on a modified timeline. Schedules will quickly be shifted and excursions and dinner reservations revised. Because you did your pre-work, the journey proceeds.
Building a strategic plan is not much different. The pre-work is just as important to building the plan.
• Leverage the collective intelligence of the team to build the plan.
• Collaborate with team members to align to a shared definition of success.
• Understand the history of the organization.
• Look at the current situation.
• Define the success metrics.
• Build the plan.
• Implement the plan.
• Manage the tangibles and the intangibles.
Remember, the most successful journeys are those that have a plan that is well thought out in advance. Be sure your organization’s journey has the same attention to detail that your personal journey’s take. If you do that, the journey becomes the destination for everyone involved and it will likely becomes a memorable and rewarding experience for everyone.
Start Your Journey by Assessing Your Organization
Hive Partners believes each journey starts with self-reflection. The HIVE Performance and Transformation (HPT) Assessment is an 8-question evaluation that is designed to give you a top-line perspective on how you are managing the tangible and intangible markers on your journey. Take the HPT Assessment today and understand where your organization is on its Journey.