Do you periodically take your car in for a tune-up: perhaps an oil change and tire rotation? Let’s look at the similarities between your business and your car.
Could you imagine saying, “Since the original oil in my car got me this far, I am going to keep it for the next 100,000 miles or so”? Of course not! Without regular oil changes a car’s engine could be damaged, necessitating expensive repairs or perhaps even an engine replacement.
Similarly, our businesses need regular tune-ups in order to operate well. If you don’t periodically check under the hood of your business, you might miss some potential damage that could be impacting your business performance. The mid-point of the year is a great time for a tune-up!
Take a moment to step away from the business and get others’ input on how things are going. Talk with your employees and find out what tools and training may help them do their jobs more efficiently. Ask for their innovative ideas on how things could be done differently. Just like rotating the tires on your car, sometimes minor changes can yield lasting results.
Are you easily able to find and retain good employees? How can you increase your success rate for hiring? What are you doing to retain the good employees your currently have on your team? How can you increase your retention rate?
Check-in on your culture. How is employee morale? Do your departments work well together, or are there silos that prevent information from flowing freely between the teams? Are you aware what the ever-present grapevine is saying about the company? And what it is saying about you as a leader? Have you checked Glassdoor.com recently?
Ask your front-line employees what they are noticing in their interactions with customers. Has anything changed? Do they feel the relationships with customers are becoming stronger? Or are you becoming a commodity to them?
Reach out to some of your key customers and find out which of their needs are and are not being met. If there is a pain point, perhaps simple changes could be made to alleviate their pain. Or there may be an opportunity to create a separate line of business and create a new stream of revenue while making your customers happy. Be open to the possibilities!
And while you are tuning up your company, why not tune-up your life? What is working well for you? What could you do differently to reduce stress and enhance your personal happiness?
Take advantage of this mid-year point for a comprehensive tune-up. Your employees, customers and family will thank you!