Creativity, Culture, Cash

Creativity, Culture, Cash

​All small businesses need a strategy and as specialist advisers on various government initiatives we have worked with our fair share of companies seeking simplicity in their plans.

In essence the most successful small businesses seem to boil down to focusing on just three core things: Creativity, Culture and Cash.

First things first: Cash.

No small business is going to survive very long without cash to pay staff, reinvest and to settle its debts. This is always a key driver in strategy formation. What are the business key sales propositions, what makes it unique, where are the true values of its products and services and how well is the business marketed and customers’ served? All of these things contribute to a steady cash-flow which is essential to keep the organisation alive.

Second comes Creativity. In this rapidly changing world all great small businesses continuously develop their people, processes and new product development. The idea of innovation is an inherent part of everyone’s role and continually challenged every day. Fear of failure is no longer an option as competitors help to drive the market forward. Fail to innovate or take your eyes off the ball and you are beaten in an instant. Develop a process and internal communication that rewards new ideas, tests concepts and increasingly speeds up the bringing to market of new products and services to satisfy and exceed customer demand. At times perhaps even creating things that no-one else has thought of before.

Thirdly there is Culture. The very best businesses filter out negativity and encourage and foster positivity in abundance. Flexible working conditions, rewards for project delivery ahead of time and within budget, and positive, transparent and engaging internal communications help drive the business forward as one integrated team.

And these three essential ingredients are supported by a fourth C that comes in the shape of Control. Using strategic tools like the Balanced Scorecard small successful businesses continuously monitor and measure outcomes of all activity as they strive for ongoing efficiency savings, new innovations and people development.

Once a month perhaps you could focus on these three ingredients and let us know what you find…?