As the dust settles from the economic malaise of the past few years, it's astonishing and refreshing to once again hear how companies are preparing for growth. It's also fascinating to see so many companies going through the similar exercise of product and project evaluation. You know the deal: organizations take a close look at every product within the company and determine which to feed and which to starve.
What I love most about this exercise is that the intrinsic value of your organization can come to the forefront and allow you to truly assess where your business is today. This exercise can give you insight on four key areas often cited by top business leaders but, due to time constraints, often ignored.
So, as we embark on new growth opportunities, make sure that you're set up to succeed. Do you have the right people in the right place, and focused on the right things? Have you fostered an atmosphere of candor, trust, and openness, so that the best ideas can flourish and existing products can be funded--or squeezed--accordingly? Only you can answer this initially, but be assured that your customers and competition will have plenty to say in the near term.
As always, I'm eager and grateful for the opportunity to listen and learn from you, so please send your thoughts or feedback to me at [email protected].
Michael Friedenberg is a VP at CMP Media LLC and the publisher of InformationWeek.
To discuss this column with other readers, please visit the Talk Shop.