Achieving Success: Diagnosing and Remedying Ineffective Strategies at Your Firm
In the Architecture, Engineering, and Construction (AEC) industry, firms are often led by technical professionals who excel in their respective disciplines but lack formal business training. This cultural norm has persisted for years, resulting in challenges when these professionals are elevated into management roles without the necessary business expertise.
The Importance of a Business Structure
Successful businesses, regardless of size and industry, require a structured hierarchy with clear roles for executives, managers, and production teams. However, transitioning from a technical role to an executive position can be challenging for individuals without adequate executive experience.
Organizations face distinct challenges depending on their size and length of business.
Rapid-growing firms may struggle to manage their expanding client base and finances, while firms with 100 years of experience may find it difficult to evolve with their clients and attract new talent. Startups, however, face the challenge of sustaining growth after an initial surge.
After consulting and coaching numerous businesses of diverse sizes and ages, I have noticed a common trait: the lack of clearly defined business goals. Without goals, there is no vision and no target to attain, and teams may find themselves overwhelmed and directionless, resulting in higher-than-normal turnover.
The Impact of Goal Setting
Leadership decisions and team focus are significantly influenced by having clear business goals that are communicated throughout the company. Organizational buy-in means a unification of a purpose and plan for the future. Without a goal, it's challenging to measure progress and allocate resources effectively. As competition increases in the AEC industry, evolving and developing systems and processes become a requirement.
By working closely with your marketing and business development team, you can take metrics and illustrate a new goal that is both achievable and challenging. To steer your AEC firm back on track, boost morale, and increase bottom-line results, consider:
Defining Your Vision: Clearly articulate the vision for your organization. A well-defined vision provides a shared understanding of the firm's direction, fostering unity and focus among team members.
Establishing Timelines: Set realistic timelines for achieving your business goals. Having a timeframe creates a sense of urgency and helps prioritize tasks, ensuring that the team remains aligned with your expectations.
Communicate Expectations: Delegate ideas and responsibilities down to managers, ensuring they understand your expectations. Effective communication is key to aligning your team with the vision and achieving the desired results.
By setting clear business goals, you provide your team with a roadmap for success, fostering growth, innovation, and resilience in the face of unexpected industry challenges.
This approach not only leverages the unique skills of the engineer or architect leader but also ensures a holistic and well-rounded approach to achieving the firm's overall business goals.
To assist you further in developing business goals that your team can support you in attaining, here are three essential steps to guide the process:
Align Technical Expertise with Business Objectives:
Start by identifying how your expertise can be aligned with broader business objectives. This involves a careful assessment of your firm's strengths, weaknesses, opportunities, and threats (SWOT analysis). Consider your specific skills and how they can contribute to the firm's overall success. For example, if you specialize in sustainable design, explore how this expertise can be leveraged to attract environmentally conscious clients or secure projects that align with sustainability goals.
Define Clear and Measurable Goals:
Once the alignment between technical expertise and business objectives is established, proceed to define clear and measurable goals. Ensure that these goals are specific, measurable, achievable, relevant, and time-bound (SMART). For instance, if the firm aims to expand a targeted market, the leadership team should set specific targets, such as acquiring a certain number of new clients or securing a percentage increase in project contracts within a defined timeframe. This precision helps in tracking progress and evaluating success.
Engage the Team and Foster Collaboration:
Developing business goals is not solely the responsibility of leadership; it requires collaboration and input from the entire team. Engage key stakeholders, marketing, business development, and other technical professionals in the goal-setting process.
This collaborative approach ensures that goals are realistic, feasible, and supported by the collective expertise of the team. Additionally, it fosters a sense of ownership among team members, motivating them to actively contribute to achieving the identified objectives.
Once you have goals to help you navigate the future, you’re ready to unify those goals into a marketing plan that will help you achieve the results you desire.
Map out your marketing strategy from awareness to advocacy with FortisOBM's Client Journey Audit. Our personalized roadmap helps AEC firms navigate the complexities of the buyer’s journey, driving measurable success and sustainable growth aligned with your firm’s business goals. To discover how our audit can empower your firm and elevate your brand presence, click the link below.
