It doesn’t matter if you are the owner of a corner deli or a multi-billion dollar business– every leader should have a defined goal, an end game. When I asked this question to Stifel Financial’s Ron Kruszewski, he did not hesitate when describing his endgame to me: “I always say I want to be able to double the firm tomorrow if I have to. And that’s how I approach my business. I have the people and the plan to be able to increase the firm very quickly in terms of our capability; I just don’t know when it’s going to take place. If you set the right culture and thought process, growing a company with people who are nimble and thrive on change is self-selecting.”
I recently had a great conversation with a friend who is an entrepreneur of an up and coming company and is looking for ways to take her business to the next step. He is the advice I gave her.
First and foremost, how would you define your end game? If you can’t say it in a simple sentence you have a problem. You need to have a distinct destination point when it comes to achieving success so you can plot a course in order to obtain it. There are three simple steps to do just that:
Define who you are
What products or services do you offer? What makes you special? How can you differentiate yourself from the competition? What do you ultimately want to be?
What do you stand for? Do all of your employees believe in your plan? You need to have everyone on board. Teamwork and passion will help you get through the highs and lows of your journey.
Every single decision goes back to your definition and mantra. If the decision doesn’t enhance what you are trying to achieve then it’s an “opportunity” worth passing up.
By adhering to these three principals you should be able to chart a course for you to achieve your endgame. Just remember the journey can be full of detours, slowdowns and potholes. That’s where your team and passion come in to help you keep your eye on how you will achieve World Domination.