Why is your team doing what it is doing?
It’s always a good idea to take a step back and evaluate the ROI of activities to improve the business. This is true for suggestions from the team as well as actions enshrined in a strategy document.
Why? Three reasons:
- It helps make sure that the team is pursuing the best actions first
- It helps the team focus on the few things to win (versus the million things that won’t move the needle)
- It strengthens the ROI muscle of the team (and which can atrophy quickly!)
And it is relatively easy to do.
What are the benefits? (better clients, faster customer acquisition, less shipping expenses….)
What will it cost us? (training/education, new investment in software, a new hire….)
How difficult is the action? (Will it take years and be highly disruptive or does it simply require some tweaks to existing systems?)
What is the strategic fit? (Meaning how well does the improvement align with what we have decided is a strategic priority?)
You and your team should always be evaluating the ROI of your activities. Any fool can be busy. Make the work you do to improve, count. For ways ensure you and your team implement high quality strategic initiatives, check out Four Strategies to Improve Strategic Implementation.