It's amazing what good comes from persistence - satisfied customers, happy employees, a thriving company. Persistence is not something you learn in the classroom. It comes from within. It's an acquired trait that all successful executives have. It's a trait that is not difficult to develop, however, for some it is a challenge to implement. Persistence is something that becomes a force of habit, and once it becomes part of an executive's modus operandi, it can take their business to new heights of effectiveness and success.
Where can Persistence help? The short answer is everywhere. Persistence means seeing things through to conclusion and then applying that approach to everything you work on. In other words, you want to be “persistently persistent.” That sounds simple, but often times simple works. What follows are several different categories of problems where we’ve found persistence to pay-off:
Operational problems. These are often very complex problems involving multiple departments, products, staff, etc. We’ve found that one way to solve operational problems is to assign one person overall responsibility for resolving the problem, even if the problem overlaps departments or areas of responsibility. That person must divide and conquer specific issues and follow-up with all parties involved, ensuring that forward progress is being made. They may need to come up with an out-of-the-box approach. They must not let anything or anybody stop them until the problem is solved.
Customer issues. Customer issues are the most important issues to resolve. Persistence in resolving a customer issue can go a long way to boosting your company’s profitability. A happy customer is more likely to buy more from you. Not only that, a happy customer is more likely to tell prospective customers how your company resolved their issue to their supreme satisfaction. That is why a problem with a customer should be viewed as a great opportunity. It gives your company the chance to win loyalty and more business. Persistence in resolving customer issues means not stopping until the customer is completely happy. It means persistently communicating effectively with the customer and all involved parties until the issue is resolved.
IT and other supplier problems. Supplier problems are similar to customer problems in that they revolve around an outside entity, with one key difference: you are paying them for their products or services. This is something of which you may need to gently (and not-so-gently) remind them. You are likely one of many customers competing for your supplier’s attention, so persistence here is paramount to making sure your company’s problems are resolved to your satisfaction.
Strategic and analytic issues. Strategic and analytic issues require persistence of thought and discussion. These issues are of utmost importance since usually they end up charting overall company direction and driving very important decisions. Executives must be persistent in thinking and re-thinking through strategic questions, ensuring that appropriate input is obtained from board members, investors, senior executives, employees, suppliers, and customers. Analysis must be persistently rigorous to enable the correct strategic decisions, ones that will inevitably drive the company to success.
Personnel problems. Personnel problems can be the thorniest because they involve human emotion. Often, there is a tendency to let personnel problems fester, hoping they’ll magically disappear. This is all the more reason why persistence is needed. An executive must persistently communicate, follow-up, and work with all parties concerned to make sure corrective measures are taken. Persistence is especially important to resolve personnel problems before they become disruptive to the company and the bottom-line.
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Persistence is a powerful trait that requires no training course or textbook. It is simply an approach that can be adopted by anyone who wants to be a more effective executive. Let us know if you think of other important traits that can be as readily adopted.
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Glauberman & Associates LLC advises companies, venture capital/private equity funds, and other investors, with particular emphasis on building financial and strategic plans and models, executing mergers & acquisitions, developing and implementing turnaround & restructuring plans and exit strategies, raising capital, and serving as interim management. Managing Director Barry Glauberman has over 20 years of experience in management consulting and industry. Barry has served as an investor, portfolio manager, and adviser for a $150 million corporate venture fund. He has significant experience in both the technology and telecommunications industries. Barry began his career as a management consultant with A.T. Kearney Inc. and Arthur D. Little Inc. serving Fortune 500 clients in a variety of industries. He earned an MBA in finance and marketing from the University of Chicago Booth School of Business, and a BS in industrial engineering and a BA in economics from Rutgers University.
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barry@glaubermanllc.com (email)