At IBMH, we know how important it is to tend to a company from its very foundations in order to get the best results and the best and most personalized service for all of our clients. That’s why we asked ourselves the following question: what does a perfect company look like?
Achieving perfection in your company, whatever the industry, requires a lot of effort, a well laid out strategy, and being up to date on what’s happening in the market. But that’s not all. We’re going to look point by point at what a perfect company would look like. Let’s get started!
What does a company need to be perfect?
Here, we analyze in detail the characteristics that a superior quality company should have.
- Razor thin margin of error. Try to look at the company like a machine where, if all of its gears operate synergistically, efficiently and productively – in other words, with no margin of error – it will be able to maintain that same trajectory over time.
- Defined functions for each team. A company’s processes, departments, all the members who make up those departments, and its image to the outside, must be formalized. The functions of each team should be clearly defined. All of it needs to be documented in writing in the individual procedural manuals.
- Organizational diagram. In a company, there should be a functional organization diagram that determines the hierarchical position of each individual. Also, decisions need to be made consistently through the business’ established rules and policies, not on impulse, so that daily operations fall implicitly on the system and its organizational structure.
- Employee specialization. Every member of the team should be specialized in the tasks they perform. Employee specialization is essential for creating sustainable growth of the business. Continual training to give the employee opportunities to develop professionally is the most appropriate way to achieve this.
- Individual objectives linked to global ones. The individual objectives of each team and each team member must be in line with the overall goals. To do this, everyone should be involved in setting these goals. The goals, in turn, must be measurable and achievable.
The leader of a company is a key element in achieving success
We have spoken about the importance of each member of the organization being clear on their projects. And we have also said that they should be involved in the company’s overall goals. But we should also point out that the leader is not merely a coordinator who manages the company using goals and specific indicators, but must also provide an example for the workers as to how they want their company to be. The closer and more transparent they are, the better results they will achieve.
The owner of a business becomes a businessperson when they systematize their company so that it can operate without them having to intervene on a day to day basis. Focus should be on formalizing processes and functions and in clearly documenting them in a procedures manual.
What about business alliances to achieve a perfect company?
Another key to keep in mind to achieve a perfect company is creating business alliances with other companies and/or professionals in related industries. These alliances are formed to provide complementary value to both parties. It is an added value in order to offer a more complete, efficient and personalized service to the end customer.
The only limit on growth for any company lies in the market in which they operate. If a company plays its cards right, it will increase its revenue as much as the market permits. The geographical limitation, whether national or international, can be resolved if the business strategy is expanded to the next level.
At IBMH, besides always being up to date on the latest news in the market, we tend to our business in every sense and we strive to reach perfection in order to offer our clients the best services. Contact us to see how we can help you make your business grow with our help!