The easiest way to get lost on a journey is to have only a vague idea of where you want to go. When you find yourself and your team pointing in different directions and arguing about which path to take, chances are you haven't fully agreed your destination. Too many businesses, reaching this frustrating juncture, put vast amounts of time and energy into choosing from the many paths before them instead of revisiting the big and crucial question: Where do we want to go?
Michael Byrnes, StrategyPal founder
A company is its people. Profits are the measure of success, products (or services) the means of generating those profits. But who develops, packages, markets and delivers those products? Who generates those profits? Your people. Invest in them, nurture them, guide and support and train and motivate them. That's how you run a business.
Managers seeking to boost their company's image internally - or to boost their own egos - like making comparisons to weak competitors. Managers seeking to motivate staff - or those suffering from low confidence - tend to focus on their competitors' strengths. Both kinds of managers are missing the point. Yes, know your competition. But don't measure yourself against them. If you lag behind them, focus on how you can improve your earlier performance instead of trying to defeat Goliath in one go. If you are ahead of the competition, don't become complacent. Your competition isn't 'out there.' As any great athlete knows, the only thing you can really improve is your own personal best.
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