Research and experience clearly point to three factors critical for entrepreneurs to strengthen their companies: Vision, Strategy and Execution. Vision leads to greater clarity. Strategy leads to greater alignment. Execution leads to greater accountability.

This post looks closer at the Execution Factor. There is an old Japanese proverb that states: “Vision without action is a daydream. Action without a vision a nightmare.” In my practice, I’ve seen many entrepreneurs that are highly visionary yet struggle with implementing their vision. This is where the Ventrek Execution Factor comes into play. The execution factor focuses on four major areas of the business:

  1. First we strengthen your People. The People Element strengthens your people by ensuring the right people are in the right seats at right time, a strong culture is in place and performance is monitored and rewarded.
  2. Next, we focus on strengthening what people do in the company – the activities. The Activities Element focuses on strengthening what happens in your company through simple, repeatable processes, truly valuable meetings and a focus on solving issues.
  3. Our third element is about Resources and deals with what we need to run the ship. The Resources Element involves strengthening company resources by maximizing cashflow and profitability, ensuring the right systems are in place and technology adds value.
  4. The final element deals with Information and helps us understand if the ship is running well. The Information Element element strengthens the information available by developing and monitoring key metrics, providing solid financial data and analysis and ensuring strong customer feedback mechanisms.

What happens when entrepreneurs spend time strengthening the Execution Factor in the company?

  • The Right People are in the Right Seats with crystal clear accountabilities
  • Simple and consistent processes & meetings that are followed by all
  • Strong cashflow, profitability and productivity
  • Timely, accurate and relevant information and data is available to make decisions
  • Traction towards your Vision and Strategy!

The biggest thing? Total accountability across the company.