Refocusing and reprioritising
By Tim Holmes
A company’s new financial year always brings the opportunity to challenge what your company is doing and question the direction you should be heading in. Even though for most of us the new financial year started a month or two ago, it is not too late to review your strategy, set your budget and ensure you have a clear plan to achieve it.
One of the most valuable questions we have encountered in this process is asking “What do we say NO to?” This challenges you to not just consider the products and services you will offer, but also to consider the products and services you should not offer. In other words, ‘What’ defines you as a company?
Taking it a step further, Professor Frances Frei says “in order to be exceptionally good at something you have to be exceptionally bad at something else”. Professor Frei speaks about this concept and challenges what we often think about business to the core. You can watch a short video of her sharing her thoughts with the Harvard Business Review, by clicking on the video below.
At Sirdar South Africa, we recently undertook this process and decided to refocus on our core strength, creating high performing boards for privately-held companies and family businesses. Board’s that drive shareholder and other stakeholder value. This has meant exiting some of our support services and focusing resources where we can add the most value.
This month’s Entrepreneur Magazine features an article where Carl Bates shares our reasons for this decision – make sure you get a a copy and have a read.
In the meantime, we look forward to focusing more and more on working with you to make your board exceptionally great.
Have a great month.
Sirdar South Africa (Pty) Ltd