It’s a Simple Choice: Grow to New Heights…or Fade Away.
Almost every business owner would agree that, no matter how successful you may be, you never stop growing. You keep striving to get better. In fact, many of the greatest business minds have said that if you aren’t growing as a business, you’re dying.
But what does it really mean?
In business, it depends on the company. After all, every company defines growth differently. It’s not always about money. You may define growth as offering a more diverse line of products or services because you see a need among your customers. Or, you might want to grow by hiring more qualified employees and retaining more of the ones you have. And, of course, it might actually be that you simply want to increase your revenues and profits.
No matter how successful your business is, there are always areas where you can improve and grow. You may have a highly profitable business and you want to reach a sustainable growth rate that you can manage. On the other hand, you may find that you’re struggling in one or two areas and you feel that it’s holding you back from the success you deserve.
No matter what the circumstances are, every business can benefit from professional business consulting, a fresh perspective, and solid advice. That’s what we provide for our clients at Executive Business Advisors.
Working with Sanjay has been one of the best decisions I could have made. He has given me perspectives about my business I had never though of.
-Richard Blount II, Four Winds Agency
Business Consulting Services
Strategic Business Consulting
Strategy is another key component of any company’s success. For any business, once the company’s goals have been determined, leaders must decide how they are going to accomplish them. This is known as “strategy.” It includes a wide range of factors such as brand, financing, operations, marketing, sales, customer service, and much more. In fact, each of these strategic areas usually has their own strategy.
However, when a company’s individual strategies become misaligned, the results can be chaotic and ineffective. That happens frequently when companies grow organically and have early success because there is no growth strategy. As a result, operations and service may start to branch off in different directions. Or marketing strategies may not transition correctly into sales.
Performance Gap Analysis
Sometimes, when a business is underperforming, the reasons are clear. For example, if you’re in the business of manufacturing fax machines, you probably realize that technology has passed you by and there’s almost no market for your product.
But what if the reasons behind your problems aren’t so obvious? You’ve done your research and you have a quality product that provides value in a strong market, but your company simply isn’t meeting expectations.
For many underperforming or even failing businesses, the problems are subtle and hidden. Somewhere along the line, hidden within the complexity, there’s an issue that’s preventing the market from responding to your product or service. Furthermore, correcting it may be the key to your company’s survival.
The Performance Gap Analysis (PGA) we provide at Executive Business Advisors focuses on five non-financial key performance indicators or NF-KPIs. The results of this analysis almost always reveal the source of the problem. The five primary NF-KPIs we look at are:
Every company has one and it’s always unique. Sometimes, when a company grows from a small startup to a large enterprise, the culture that evolves organically works against your success, dragging down your results.
An inefficient or flawed operation can cause many problems, including slow production and delivery times, higher costs, poor quality, and workplace frustration.
Strong leadership can inspire your team members to always strive for excellence and always focus on customer experience. Lack of leadership, on the other hand, leaves people unmotivated, doing the least they can “get away with.”
In some companies, it’s surprising how many team members really understand what their company does and how the work they perform fits in.
If the point where your company and your market meet – also known as customer service – causes your clients or customers to have a bad experience, it doesn’t matter how good your product is, they won’t do business with you.
The Performance Gap Analysis is based anonymous based assessment conducted with employees and measures your company’s performance within each NF-KPI, along with how important each indicator is to the success of your business. In addition to performance data for each NF-KPI, the results are also segmented by demographics, including gender, length of service, and level of interaction with customers, management role or non-management role if any.
Once these hidden problems are revealed, we then work with you to create and implement a solution designed to solve them.
About Sanjay Parekh
Sanjay Parekh is Founder and President of Executive Business Advisors, a firm whose purpose is to help businesses achieve higher levels of success. Sanjay has more than 25 years of successful business leadership experience, which includes strategic planning, sales and marketing, team-building and global manufacturing. Sanjay’s background ranges from his work as a director in a family-owned business to heading a multinational corporation in Asia.
Core Assessments Provide the Data You Need to Make Informed Decisions
The reason most successful businesses thrive is that they make important decisions based on data. That said, how you get your data has to be reliable in order for the information to do you any good. At Executive Business Advisors, we use the following core assessment tools in our business consulting to ensure that you are well-informed.
The DISC assessment is the most effective behavioral assessment tool available. It provides a detailed analysis of an individual’s natural and adaptive behavioral styles, which means it is an accurate predictor of how someone will behave in specific circumstances. It is the strongest predictor available of how well he or she will fit into your organization, or within a specific job. A DISC Assessment also provides a lot of information on “how” people communicate and how best to communicate with them.
This assessment tool measures seven universal dimensions that are connected to how an individual is motivated, including Aesthetic, Economic, Individualistic, Political, Altruistic, Regulatory, and Theoretical factors. The Motivator Style Assessment is a powerful companion assessment to the DISC Assessment because it accurately predicts “why” people behave the way they do.
Thinking Styles (Hartman Value Profile)
The Hartman Value Profile, also known as the HVP, measures an individual’s problem-solving skills, as well as his or her critical-thinking abilities and judgment capabilities. The HVP assessment reveals potential blind spots in the individual’s thinking due to situational bias.
This assessment offers guidance in understanding how an individual’s emotional intelligence affects their interactions with others. It also helps people learn how to read others’ emotions and engage with them toward more positive outcomes. Emotional intelligence can improve with coaching and is highly beneficial for team members in leadership positions.
The Learning Styles assessment identifies the unique ways an individual learns and retains new information most effectively. This tool will show whether he or she learns best by reading a manual, or prefers videos, demos or photos. Do they learn best by working alone or in teams? By applying what you discover from this assessment, you can maximize the efficiency of training programs.
Business Consulting with Sanjay Parekh
I am dedicated to business consulting and my purpose with Executive Business Advisors is to assess your business thoroughly, including your successes, as well as you where you may have come up short. I can then offer guidance that will help you avoid these pitfalls, and others, too.