To begin the conclusion, let’s do a quick review of the first three High (V)’s to running a thriving enterprise. (If you did not read part one, it would be a good idea to do so!).
The first (V) is (V)ision: Your look into the future of what will be that is shared and bought into by others. Next we discussed (V)elocity;Not only the speed or intensity of your actions and performance but the measured direction as well. It is critical to not only evaluate your speed, but also make certain you are always headed in the right direction towards fulfilling your vision.
Finally, we discussed High (V)alue. Is what you do provide perceived and or real value? Value is still a priceless commodity and even in today’s competitive market, will still be a major influencing factor in choosing and staying with you. Now that we are caught up, here are the final two High (V)’s.
(V) olume: I want to define this concept carefully. Again, coming from my experience…is what you do something that touches the masses,or provides repeatable encounters? Even high-end, high priced item providers need volume to survive for the long run. This high (V) simply states that you have the opportunity to sustain a market or an opportunity.
This can happen in a number of ways. One of course is to have supportive products and services that complement each other. For example, in financial services do you offer retirement services along with insurance and or estate planning or, if not, do you have an arrangement with someone who does? This is volume, an opportunity to expand business relationships through additional products and services.
The other form of volume is repeatable encounters. Do you provide value at a competitive price that has customers coming back to you time and time again? The key here is not so much the price, but the volume of times you generate revenue from it. For example: If you could promote and sell a perceived value product to 100,000 customers for a dollar a month and it only cost you ten cents per month to provide…you can do the math. The key point here is that if your enterprise can operate in High (V)olume for the long haul, you will have every opportunity if nurtured and cared for to be in business for a very long and happy time. High (V)olume.
The final (V) is for (V)ictory. Cherish and celebrate with those you serve and work with your successes! When you accomplish a goal or see a vision fulfilled, recognize it and enjoy it. It is amazing the level of performance or level of commitment you can achieve moving forward, when you purposefully recognize efforts of those that have led to success. I go back to my example of my coaching experiences with eight year old football players; When we as coaches recognized a player that perhaps never enjoyed the spotlight, got their name called, or scored a touchdown, yet we simply said things like “I noticed your great block on that play. Because of you, we were able to score. Great job young man…” That and a pat on the helmet and you could move a mountain.
Here is the point. Success takes effort; sometimes you have to fail many times before you taste it so when you do, stop long enough not to slow down momentum, but savor the moment…then go get another one and do it again! High (V)ictory.
So there you have five (V)’s to run HIGH in. I have strived to reach and sustain a high level of each and I believe they have helped me sustain a thriving organization that has a great outlook for the future. It is my hope you too can glean something from these (V)’s that will take your enterprise to great heights and more importantly…keep you there!
All the best.