Over the last nine weeks, I introduced my Ebook 12 Steps to Business Transformation and I defined the first 9 of the 12 transformational steps. This week we are going to talk about steps 10, 11 and 12.
Steps 10 to 12 in my new Ebook “12 Steps to Business Transformation” deal with the outputs of your business which I call Outcomes. These are the resulting services or products that are created by your business.
- Step 10 is the actual Outcome. What has your business produced? Is it acceptable, not acceptable, substandard, above standard, on cost, over cost, on schedule, behind schedule, on spec, off spec, etc.
- Step 11 is the feedback that you are taking from the Outcome and sending back to the business for adjustments to improve the quality of the Outcome
- Step 12 is simply the ongoing, disciplined operation of your business . . . Basically, repeating Steps 9 to 11
Over the last eight weeks, I introduced my Ebook 12 Steps to Business Transformation and I defined the first 8 of the 12 transformational steps. This week we are going to talk about step 9.
Step 9 in my new Ebook “12 Steps to Business Transformation” is very simple yet many businesses fail to complete it! Step 9 is where you take the Vision, Mission, Values, Strategies and Goals and feed them into the Operations Engine. Essentially, you are providing the “fuel” to power your Operations Engine and substandard or contaminated “fuel” can kill your business!
Ray Dalio is the founder of the investment firm Bridgewater Associates. He had an estimated net worth of $15.4 billion in 2014 according to Forbes! So, what does Ray Dalio have to do with your business?
Probably nothing directly. But, based on his net worth, Dalio knows business so we should learn from him! He came up with a simple model that describes a business or an organization that has worked well for him over the years. I would suggest that understanding his simple model is critical to the success of your business. The model is shown in the picture for this blog post (note that I have exercised my artistic license and added a few items for clarity!)
As business leaders, each of us is responsible to produce results in our organizations. Results drive our businesses. Without achieving positive results, a business is really worthless. Dalio‘s model illustrates that a business starts with a Vision and then delivers business results or Outcomes through a Machine. The model stresses that the Outcomes are a direct result of the Vision and the Machine (both of which are defined below);