Issue link: https://read.dmtmag.com/i/40026
48 • SEPTEMBER 2011 • WORLD FENCE NEWS In today's economy every busi- ness needs to capitalize on its strengths and eliminate its weaknesses to ensure long-term growth. With both money and resources tight, there's no room for second chances or trying again next month. There may not be a next month. Your company must produce results today if you want to stay competitive tomor- row. Unfortunately, too many business owners and managers are stuck in the prevalent mentality of slashing budg- ets, laying off staff, and making cut- backs as a way to stay afloat. What they fail to realize is that in- stead of trimming away critical ele- Money really can grow on trees BY LINDA KEEFE ments of their company, they need to focus on growing the business of nur- turing their "money tree." Only then can they realize that money really does grow on trees! To grow an organizational money tree, you need the four components of SharedKnowledge (organizational communication, skills, motivation, and empowerment) and an energizing vi- sion. While most managers recognize the four elements of SharedKnowledge they are unsure of how to develop All the stuff you need! Enjoy the Adventure! Wholesale to the Gate&Access Control Industry Serving You Since 1991 Seattle 800-548-2365 Anaheim 877-386-9797 www.gatesandcontrols.com Spokane 866-709-8869 Sacramento 800-926-5520 Portland 800-204-7344 Las Vegas 866-275-1651 them in their team. They also mistakenly believe that everyone knows how to communicate, how to do their job, how to stay moti- vated, and how to make decisions. On the surface, that may be true; however, when you probe deeper, you usually find that people need additional guid- ance in order to make their knowledge relevant to the company and to their organizational role. Without that guidance, they be- come organizationally indifferent, be- lieving that their contributions don't matter to the company's success. If you're ready to transform your business into an income-generating money tree, use the guidelines below to instill a sense of SharedKnowledge in your team. Only then will your company grow into a strong and sturdy entity that towers above the competition. Step one: Give your money tree some sunlight Every tree needs sunshine and nu- trients to grow. Your company's money tree is no different. In business, the company's vision is the light source. It's the guiding light that everyone in your organization reaches for. The problem is that too few peo- ple know what a vision statement re- ally is. Typically in business school, man- agement seminars, and in books we see the words 'vision' and 'mission' touted as being important and often used interchangeably. But it's hard to get your hands around what they do for you or how to make them active and dynamic parts of the business. So often the vision and mission seem apart, set aside, and something reserved for the manage- ment team to write on a poster. Here's the difference: your mis- sion is what you do. Your vision, on the other hand, is that guiding star that tells you whether you're on the right path. Your vision is how you want your company to be positioned in the mar- ketplace. A compelling vision takes what you do (your mission) and trans- forms it into something the entire team can strive for. For example, your mission may be to sell technology-related products to the consumer market; your vision is to be the leading provider of practical, timely, and creative solutions for your continued on page 52 SPREAD THE (WORLD FENCE) NEWS! Bosses, encourage your employees and clients to keep up with the latest news from the fence world by reading World Fence News OnLine each month! There is no charge to access this site, and it's a great way for everyone connected to your firm to stay in the loop, especially if you have ads or editorials running. All ads and editorials that are contained in the regular printed edition of World Fence News are available in digital format at www.worldfencenews.com (click on "Read Our Current Edition OnLine") If you have any questions regarding the printed or OnLine editions of World Fence News, contact Rick Henderson at 800-231-0275 or e-mail editor@worldfencenews.com.