This week’s focus: I have found one of the key secrets to success in business. In fact, I believe that if it were implemented properly most businesses could quickly grow revenues and profits by 10% or more. Here it is: know your medium-term objectives!

Yes, I agree that this not a spectacularly new or innovative insight, but over the past week or so I have come across three leadership teams that are suffering because they don’t have clarity on what’s expected of them beyond, at most, the next 12 months. This means that initiatives that don’t pay back immediately are not being pursued and that these executives are paying little attention to new, potentially exciting growth opportunities.

So, what are your medium-term goals – and those of your organisation – and if you asked your team about their 2-3 year objectives, what are the chances that they would give the same response as you?

Off the record: The Road To Nowhere by Talking Heads

Well we know where we’re going

But we don’t know where we’ve been

And we know what we’re knowing

But we can’t say what we’ve seen

One more thing: Do you have an insight that you’d like to share with others – or songs that you think carry an important or witty message for business leaders? If so, I’d like to hear from you as I’m aiming to introduce periodic ‘guest star’ Friday Focus editions. Just hit reply to this note and tell me your story, insight and song!

© Stuart Cross 2012. All rights reserved.