New Rules for Success

05/31/2011

New Rules for Success

There are new rules that companies must follow to succeed in today’s business environment.  It doesn’t matter if you are in transportation, a service business or a manufacturing firm; the same new rules apply.  I would like to share them with you.

1. Watch for change beyond the obvious

In order to seize opportunities that lead to success, companies must be ever mindful of changes occurring beyond the obvious.  You must continue to be willing to adapt to change since we are living in a constant period of transition.  What works today becomes history in a hurry.

2. Constantly raise the bar

Successful businesses today don’t stop for self-congratulations.  They are too busy raising the bar.  You must become your own fiercest competitor because no sooner than you cross one frontier, you must be out scouting the next.

3. Go way beyond basic services

You can no longer assume that “good” basic service is enough.  It’s not.  You must continually work to dominate your market by improving your processes year after year.

4. Practice continuous improvement

You must believe in continuous improvement, always forward thinking and asking yourself daily how you can get better, and then doing something about it. 

5. Be creative and innovative

You must be creative and innovative, and more than anything else, this means recognizing and embracing ideas. They may originate anywhere inside the company or out, either can work! The key is to implement these changes quickly—react to problems and situations spontaneously and correctly—there’s no time to waste.

6. Enact new ideas quickly

In this environment, fast can trump careful. That’s dangerous.  That’s why the homework must be done in advance, to already have as much information and consideration as possible BEFORE the event.  This prepares you to act not only quickly but correctly, as required.

7. Be willing to take risks

The successful company takes risks, and tries new things.  They also watch those innovations and analyze whether they are working.  They fine-tune and give it a chance to work, but are also willing to admit when it’s not working and try another path.

8. Have executives and managers who listen and respond

Management and executives must create and maintain a culture that encourages employees to bring ideas into the company.  Just as important, they must listen to and consider these ideas.  And respond to them – quickly.

9. Become your own fiercest competitor

No company can afford to ignore change and just do what comes naturally.  That may have worked in years past.  But those days are in the history books.  Competition today is really stiff and we need to use technology to stay out front.

10. Use Technology as a driving force

Technology gives a company the tools it needs to meet the demands of the 21st century.  It has reshaped the transportation industry and will continue to do so.  It is the driving force that will either catapult you down the road, or leave you limping along, behind the pack.