Why are Business Methodologies Important?
What can they do for your business and help you get to the next level?
If we had to answer with a single word, it would be ‘scale’.
A business needs each professional to be operating at peak performance. Just like a manufacturer's production line, business process must be repeatable and predictable in order to be efficient and effective. Methodology makes this repeatability more possible and more likely.
Consistent methodology benefits business professionals because it becomes muscle memory. Each individual practices and gets better until best practice become second nature. Methodology can be replicated in the form of business tools through which professionals can visualise their next steps. They can move forward without wasting time working out what they should or shouldn’t be doing.
The structure of methodology can put the business professional in the driving seat and keep a process on track. Most analysts agree the success rates of professionals adhering to a methodology are significantly higher.
A consistent methodology across a business organisation also benefits business leadership. Business management needs to be able to coach and forecast. If an entire business organisation is using the same framework it becomes much easier for managers to quickly assess where an individual has gone off piste. More importantly, how to coach them back on track. As for forecasting, there is an obvious benefit if professionals are, for example, more quickly removing the junk deals from their sales pipelines. Methodologies give professionals a better handle on where they really stand with a particular opportunity and can give a more accurate forecast of deal size and close date.
If business teams are operating efficiently and being more productive, their organisation can be more successful and do it in less time. Methodologies need to be flexible and customizable. Business is a mixture of art and science and there’s really no such thing as a one size fits all approach. You’ll need to finesse how you introduce any new methodology and give it time to bed in. It’s not uncommon for a business to implement a methodology only to switch to another because they saw no immediate uplift. Organisations need to take time to adapt and perfect.
Methodology equals efficiency, repeatability and predictability which in turn all equal scale and scale means larger rewards for all.