Successful businesses are CATALYSTS. They solve real problems, quickly and easily and then get out of the way so that people can enjoy their investment. Consider this definition, pulled from the Gage Canadian dictionary (we are Canadian, after all):
Catalyst: (n.) an agent that causes or speeds up the occurrence of an event, especially an agent that is not directly involved or affected by the results.
Catalytic businesses have 5 essential components in common that help their business strategies succeed:
1) An understanding of their Value.
Catalysts are focused. They know what they are supposed to do, they do it and they get out of the way. They don’t do what they’re good at, they do what they’re great at. And they do it over and over, getting better and better with each time. Your Catalytic business must have a clear understanding of its value and how it must engage with its clients in order to deliver its value, quickly and easily, without compromising its integrity.
2) A defined Strategy.
Strategy is "the long-term game plan for the business. Strategy drives decisions and is aligned with the achievement of the Vision". To be effective, make sure your Strategic Plan is easy to understand so that each individual member of your team can identify where they add value.
3) A commitment to Excellence.
Excellence is a moving target. The better you get, the better you can become. Keep focused on improvements, even small ones, day in and day out. This keeps you inspired, engaged and in the game.
4) A focus on Action.
Action gets results. There is no other way and there are no shortcuts. You just have to get to it. Your Strategic Plan and commitment to Excellence will get you nowhere if you don’t act. Small steps every day. Break each big project down into smaller bits and bites by identifying daily, weekly and monthly goals...and, over time, you will be astounded by your results.
5) A lasting Effect.
In chemistry, a catalyst is but a small, relatively insignificant ingredient in the overall equation. But through its participation and contribution, the bigger outcome is magnificent and lasting...even when the catalyst is no longer actively involved. Your business must have a meaningful goal and a mandate to impact a purpose bigger than itself.
If you’re finding that something is missing, that you’re just not quite able to break through that barrier and really reach your desired business goals, look at this list carefully. Which of the 5 components above needs more of your focused attention? What’s getting in the way?
Action gets results. Write down what you’re committing to get done in the next 24 hours...and go make it happen.
If not now, then when?
Yours in Success, Differently.