Many years ago I worked with a CEO who always spoke about how dangerous it can be to have “holy cows” in a business.
To clarify, in the Hindu faith, cattle or cows are seen as a sacred symbol of life that should be protected and revered and should not be harmed in any way. They are left to roam around the city streets where they are adorned with flower wreaths and treated like royalty. These gentle beasts can do no wrong and are never criticised for holding up traffic, messing in public areas or damaging property. If someone happens to kill or harm a sacred cow, they can be imprisoned.
In business we should always be mindful of holy or sacred cows. Anything such as products, services, systems, processes, people, values, etc that if they are not held accountable, could be detrimental to your business success.
This CEO’s words will always stay with me. He said that if we don’t question everything, we can be blind-sided by our complacency. If we continuously “worship” the holy cow without demanding accountability and results we are setting ourselves up for failure.
So with that in mind, do you have holy cows in your business? Parts or people within the business that are never questioned, but just left to roam, like our friend the sacred cow. Perhaps because it has always “been that way”. What would happen if you got curious and questioned their relevancy? What would happen if you questioned their contribution? What would the outcome be? It may be very favourable and you may be pleased with the results. However, in some instances you may need to make some adjustments or even remove the sacred cow.
To stay on top, think about implementing the following:
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Regular communication/feedback sessions with your team members and suppliers
Be open to their feedback, take their suggestions on board and encourage them to come up with solutions to improve the business. These team members are performing at the coal-face everyday, they can present you with incredible intel on all areas of the business.
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Customer feedback
Encourage your customers/clients to provide you with feedback on services and products. The end user can provide priceless information on how well your product/service works for them.
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Employee reviews
Hold everyone, that includes your management team, accountable for their actions. Regular review sessions can identify training and coaching needs. Regular reviews clarify expectations and ensure that everyone is performing to their defined key performance areas and indicators.
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Data analysis
Keep a finger on your data. How can you utilise your data to your advantage? Marketing data, financial data, production/manufacturing data. You may have been following a certain system or process for years, but perhaps when analysing the data it shows clear gaps and areas for improvement. There is a clear difference between “we’ve always done it this way” and what the actual data might tell you.
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Competitive analysis
Always keep an eye out on your competition. Existing competitors as well as new entrants coming into the industry. Never take the position of “we are better, we cannot be beaten” with your competition. Stay humble and be open to your weaknesses.
If you want to stay ahead, stay flexible and vigilant in an ever changing environment, then nothing in your business should be so sacred that it is never questioned or criticised.
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