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Over the years, many printers have tried to be a ‘jack of all trades’, electing to make capital investment in technologies that are not always aligned with what they do best. Think: how many firms do you know who market themselves as suppliers of everything from flyers to direct mail to small run digital work? Throw in packaging and books and you’ve almost covered the gamut. Moving forward in a mature market requires a different focus and discipline than companies supplying emerging markets.
No matter your focus, here are some tips for getting started:
Clearly Define Company Goals
What is the company’s overall goal? Simply put, what do you wish to become? The answer to this question could represent a market position or financial goal. In addition, what market(s) do you want to target? An organization can hardly be expected to have a competitive advantage in a multitude of product lines. When identifying and focusing on those key products or services, pruning away the lesser profitable product and services will work to your advantage.
Focus is Key
Identify your competitive advantage. What differentiates you from your competitors or what could you do to accomplish that goal? What resources are required? Does your staff have the necessary tools to meet your goals and objectives? If not, determine what is required – be it a capital investment, new methodology, acquisition, merger, etc.
Involve your Employees
Now that you’ve articulated where you want to go and how, you’ll need to clearly communicate those goals and visions with employees. In order for your goals to be successful, you’ll require 100% buy-in from your most important stakeholders – your employees.
One way to encourage employee engagement is to quantify the goals and values and share those results with your people. It’s impossible to know where you’re going if you don’t know where you started. Asking your staff to work together as a team requires that they understand what the goal is and how they’re progressing.
Another approach is to empower employees to make decisions that aid in achieving the goals and vision. Allowing workers at all levels to take reasonable initiatives to achieve the corporate goal creates a winning situation for your employees, customers, and company.
If you need help with business strategy, contact us. Our specialists are here to help.
Wayne Moir is a senior executive with over 40 years of management experience resulting in the vision and leadership skills to plan, organize, and direct organizations to capitalize on market opportunities. A strategic thinker with strong analytical, negotiation, and problem-solving skills with a proven track record of facilitating sales growth and securing large multimillion dollar contracts. Successful in building sales teams and developing innovative marketing programs while maintaining a strong control on financial operations. To get in touch with Wayne, contact us!