Balanced Foundations
To succeed, every business needs strong foundations that are balanced across all aspects of the business. We created Balanced FoundationsTM as a methodology to assure sustainability and growth.
The methodology has three levels of foundations that ensure firms have the keys to growth, sustainability and success:
1. The CAUSE Level
Mission, Vision and Values are the 1st level or base level foundation that all organisations need before any activity is commenced otherwise the firm has no idea where it is headed, nor whether it is successful. The focus of this Cause Level is about leadership and casting vision.
People want to be part of something, and to meet that need you need to create a “cause” for your staff to attach to. Strong mission, vision and values are a “must have” if you want to grab the heart and soul of your staff so they are an integral part of your business and not just ”time clock” employees.
1Mission
All businesses need to know what they are trying to achieve. The 1st step of the Balanced FoundationsTM methodology is making sure there is a clear understanding of the mission of the organisation, or put simply, why does the organisation exist?
2Vision
Vision follows from Mission and allows a blue sky picture of what the firm will look like in the next 5 years or more. Vision should be both inspirational and aspirational, but more importantly a good vision will give staff a personal desire to be part of the businesses “cause”.
3Values
Values announce how the business will conduct itself. That is, what will it feel like to work in the firm, or receive services from the firm? Values carry the DNA of the business.
Along with Vision, Values are another key part of connecting staff’s heart and soul with the “cause” of the business. People connect to causes. Mission, Vision & Values are the “cause” of your business.
2. The EXECUTION Level
Once a “cause” is established with the Cause Level, the Execution Level adds the detail. It’s focus is effectively the management level of the business. You could think of it as the what, how & when level that adds the specifics in achieving the businesses purpose. Without specifics and a methodology of applying the specifics, businesses flounder and never achieve their potential.
Execution is one of the main stumbling blocks for most companies, and it is often seen as a black art that only a few are good at. Execution is a simple science that simply requires alignment with the firm’s vision, action against its goals and clear accountability.
4Strategy, Goals & Accountability
A strong vision attaches your staff to your cause, but you also need clear and detailed plans on how you will achieve that vision. A strategic plan helps set the direction for the next 3 to 5 years and a detailed set of goals set the scene for actions in the next 12 months to move your business in achieving its vision. A firm’s annual business plan and goals should bring alignment to the vision and action towards achieving it.
Often businesses have some form of Strategy and Structure in place but are not getting anywhere. Apart from the question of whether the Strategy and Structure are the right ones for the business at that time, execution of Strategy is one of the main drivers of business success.
If a firm has strong vision, good strategy and effective plans in place, the next thing that is critical for success is a culture of accountability. Without accountability, execution fails. Accountability in its simplest form is making sure everyone knows what they are expected to deliver on and following through to make sure it happens.
5Process
The other key to effective execution is ensuring that firms have proven and repeatable processes in place. Sustainability & growth are brought about by the consistent application of processes that are known to work. FFA has extensive experience working with businesses to develop processes that are effective and tailored to the specific needs of your business.
3. The ENGAGEMENT Level
The Cause Level and the Execution Level are critical for any business to achieve success, but are nothing without your staff or clients. People & Relationships add the Engagement Level to the solid foundations developed at the other two levels. People & Relationships add the dynamic, the creativity, the innovation and imagination that can take your business to another level. The focus of this level is Resource and Behaviour.
6People & Relationships
Engaged and connected people are the most dynamic part of any organisation. Disengaged staff often contribute little to an organisation and more often that not are a drain on an organisation.
No matter how good businesses get their Vision, Values, Strategy, Goals and Processes it is the behaviour of its people in applying these foundations that bring success to firms. Developing people and retaining good talent is a key to growth and sustainability.
Relationships internally with staff and externally with clients is a critical skill that successful business owners and leaders need to master. Effective marketing attracts new clients, but relationships are what retain them. The cost of replacing staff or attracting new customers is an added cost to your business that can be reduced with effective relationships.
People can also one of your businesses most valuable resources and if they are disengaged and unsatisfied they become a significant drain and cost to your business. Ensuring effective relationships with your staff and their behaviour is aligned with your vision or cause is critical. FFA works with its clients to enure that this critical resource is aligned and engaged.
