Is Business Formulaic?

You can either engineer your business by design or let it evolve by default. While the choice is clearly up to you I would strongly suggest the former over the latter.

Creating a formulaic approach to business is not only logical, but it is without question the right approach to implement when desiring to create a thriving, sustainable enterprise.

Some would argue that business is very fluid and that too much structure stifles creativity and entrepreneurialism. While the previous theory makes for a good sound-bite, it has been my experience that those executives who use it as their mantra don’t foster creativity, they create chaos and disruption (of the negative type). It is never a question of whether structure and process work, but a question of whether it was designed, implemented, and managed properly. Moreover, a well-engineered formulaic approach to business does not exclude creativity, it stresses innovation as a key component. A structure built with sound underlying business logic not only enhances creativity and an entrepreneurial spirit, but it also accelerates it. I have always subscribed to creating a formulaic approach to business.

I developed the following conceptual formula for corporate success almost 20 years ago. And while it’s clearly theoretical in nature,  I found that whenever I have been able to apply it good things have happened:

Vision (Integrity + Quality + Innovation + Focus)
Great Talent (Process + Accountability)

If you attempt to solve the aforementioned equation you will find that the answer equals sustainable, profitable growth. You will also note that the variables contained in the equation strongly mirror the topics that I most frequently write about. This is no coincidence, but rather a strong indication of how important I believe these key success metrics to be. Success doesn’t just happen by osmosis and it doesn’t just happen because you work hard. Rather success is created through a combination of planned, purpose-driven, consistent and intelligent efforts.

The formula referenced above will allow you to create brand equity, recruit and retain talented employees, create a positive and productive corporate culture, maintain a competitive edge, increase customer lifecycle value and generate sustainable revenue and margin growth. Don’t sacrifice what could be by settling for a haphazard approach to business And remember; Don’t engineer your business process through best practices design, rather innovate beyond best practices and be disruptive (the positive kind) in your approach.