Change that Leads to Growth
Source: Accounting Today
In this article, Gary Boomer presents the idea of the 10x leader, a concept from Jim Collins' book, Great by Choice.
According to Boomer, the 10x leader, or firm, pursues and invites positive changes leading to growth. Simply having an abundance of ideas for change does not necessarily lead to success, but the careful application of the right ideas at the right time can make all the difference.
Boomer stresses that revenue is not the only area of the business that should be targeted for expansion. Rather, firms looking to expand, improve, and grow should consider the entire business, including aspects such as customer service and workflow. Thinking creatively and adopting a holistic approach to growth could be the way to push past the ceiling that you or your firm may have reached.
To tackle your firm's biggest obstacles with the 10x approach, Boomer suggests dividing your staff into small teams in order to come up with ideas for improvement and implementation. Teams should be given a budget and a deadline. The group approach can be incorporated into firm culture by offering a monthly financial benefit to the group that develops and implements the best idea.
10x leaders:
- Pursue a bigger picture, not just their own success.
- Make careful financial decisions.
- Know how to respond to a positive or negative change of events or circumstances.
- Consistently adhere to a set of expectations, beliefs and methodology.
- Are confident and constantly learning.
- Know when to take a risk and when to hold back.
For the complete article, read “Boomer's Blueprint.”
From Accounting Today, April 1, 2012, SourceMedia Inc., One State Street Plaza, 27th Floor, New York, NY 10004, 800-221-1809.