The Three Elements

I am sure that most people are familiar with the three elements necessary to start and maintain a fire: fuel, heat, and oxygen.

The less well-known, but just as critical triad relates to the success of businesses. While a business of any size and in any industry relies on the market dynamics, reputation with customers, and so on, there are three factors that ultimately contribute to the success of the company. These are: financial backing, management strength, and most importantly, a clear direction or goal supported by the entire management team.

Financial backing simply means that the company has sufficient financial resources to develop, market, and grow within their industry. A continuous struggle in this area will hinder the best efforts in any other aspect of the company.

Management strength – by this I mean the combined experiences, capabilities, and communication skills of the management team – especially in the senior ranks. A strong team of senior managers have ‘been there and done that’ – probably multiple times and in different industries. They know what works and what is just a waste of time and resources. They have experienced the greatest successes and have also lived through the most challenging of times. This team has both small company and large corporation exp6y with a global twist. They have been on the front lines – hiring and firing. They have faced unhappy customers, and downturns in the economy. They are the propellant that will move the company to the achievement of its goals.

Finally, the goal. Regardless of the size of the company, the financial backing, the experience level of the management team, the company will never realize the true success that it is capable of if ‘the team’ does not clearly understand what they are working to achieve. By the team, I mean particularly the senior management team (at least VP’s and up). They must first work to define the goal (i.e., “be the number one provider in our industry” or “develop more new widgets each year than anyone else”, etc.) and then work each day, in concert, towards that goal. This is the foundation of success for any company.

Is your company missing a key element that is keeping it from achieving truly great success?

Call on The Method Solutions today for an assessment and support to ensure your business remains 'hot' throughout 2025 and beyond!