Rags-to-riches stories are some of our favorites, from Cinderella to J. K. Rowling. We love to cheer for the underdog. While most of us have never been in “rags,” few of us have avoided hardship somewhere along the way. Even though none of us likes to hear it, the challenges we face, if harnessed effectively, actually become stepping-stones to our future success. How to harness hardship? Just follow these guidelines:
H is for Hardship // As an equestrian, I grew up with the phrase, “If you fall off, get right back on.” It has been my personal motto as well. Hard times only defeat us if we let them. If instead we use them as incentive to do better, they can actually be the power behind growing personally or professionally. Rather than dwell on the problems, focus on how to overcome them.
A is for Amplify // Before we can solve problems or eradicate the hardship, we have to understand it. If we are going to get to the other side and prevent the same thing from happening again, use a “fine-tooth comb” to study what WILL work. In business, that means we have to get below the surface to study the granular segments of the market, the growth patterns of each product, the trends in customers’ purchasing habits and the unmet needs of customers. If sales are off, knowing what to change before we strike can pay huge dividends. It avoids the common “throw it against the wall to see what sticks” problem-solving method that rarely results in success.
R is for Recognize the Sweet Spot // Finding the “sweet spot” is the source of the horsepower that drives growth. A sweet spot is the intersection of market needs with a business’s unique capabilities. The sweet spot for each company is unique, which is why imitation rarely works—differentiation does. You will know if you have identified the “sweet spot” because the momentum will be much more substantial with much less “drag.” Have you found yours?
N is for Nucleus // Every great growth plan has a focus or a specific concept that will help the business achieve its goals. That nucleus helps center a company, integrating all functions under a common purpose, aligning the activities across the company and serving as a guide for all investment decisions.
E is for Execution // To overcome hardship, there needs to be a plan of action. While trial and error can be a valuable technique in some arenas, it is generally not a desirable way to grow a business! Most companies think execution is what they do best, and day-to-day operations may be well run. There is a significant difference, though, between running a business well and running the right business. Execution must be aligned with the nucleus of the plan, mapped into a critical path so resources can be load-leveled over time and quick wins can be built in to sustain enthusiasm and sustained commitment.
S is for Stimulate // To drive growth, a leader must be sure that the employees are inspired and engaged. The greater the clarity about vision, goals, roles and the trail to be blazed, the more likely that organizations will be successful. Giving careful thought to how to engage all stakeholders is a critical component of success.
S is for Success // Although it may seem obvious, it is important to define success. What does it look like? How do we know if we achieve it? Does everyone have the same understanding? If we aren’t clear, how do we know if we have achieved it? Stay the course until the goal is achieved or a course correction is declared inevitable. Give everyone the sense of satisfaction that comes from knowing you crossed the finish line!
HARNESS hardship, drive growth and celebrate your own “rags-to-riches story”!
