Transforming a small start-up into a big business, or a mid-size enterprise into a huge company, is no simple feat. The statistics, for one, don’t look good, as research suggests that only about a 0.10% of companies will ever reach the lofty goal of $250 million or above in revenue. In other words, a lot of businesses simply stay small. However, just because other companies might have tried and failed to take the next step towards success, doesn’t necessarily mean that you need to give up.
3 Planning Tools for Developing a Target Operating Model Too many businesses take a blinders-on approach to data-driven decision-making, concentrating solely on a few key metrics without regard to total costs of ownership or big-picture growth. Developing a target operating model lets businesses view a high-level representation of the organization and process flow, ensuring a common understanding that promotes communication, better use of resources and increased profits. Understanding what is going on with your business right now – and where you want to be in the future – is the first step to creating a road map for success.
Regardless of the type of business you’re running or even the industry you’re operating in, so much of your success on a daily basis comes down to your ability to make quick, effective decisions at a moment’s notice. Equally important is your ability to see the “bigger picture” - how does that seemingly small decision you’re making on a project today affect you and your team tomorrow, next week or even a year from now?