Targeted Improvement Actions in SMEs: No Unnecessary Luxury
Targeted Improvement Actions in SMEs: No Unnecessary Luxury
2 min. leestijd

Targeted Improvement Actions in SMEs: No Unnecessary Luxury

For most small and medium-sized enterprises (SMEs), governance is something far away. In other words, measures of good governance are not yet part of daily practice. Particularly explosive growth and/or external demands, for example from an external financier, have changed this to date. Especially to make the likelihood and impact of risks manageable. Oddly enough, because fundamentally every entrepreneur wants to be successful and certainly not fail. Thus, corporate governance aimed at SMEs is actually relevant for every entrepreneur: it is about having control over realizing entrepreneurial ambition. And there's quite a lot involved. Therefore, we will be paying ample attention to this unexplored area in the world of the entrepreneur in the coming period.

Today, Route ICR shares the seventh article from the series 'How to practically implement SME governance'.

Targeted Improvement Actions in SMEs: No Unnecessary Luxury

Amsterdam, October 6, 2021 – Entrepreneurship is simple. But the hardest thing there is, is to keep entrepreneurship simple. But why is that? Let's talk about that in the coming period. And also look at how this problem can be solved. Today, Route ICR shares the seventh article from the series 'How to practically implement SME governance'.

You've introduced the dynamic business plan in your company. And you keep working on it to ensure that you get the maximum out of yourself, your team, and your organization. To achieve your set goals in the most effective and efficient way possible. In this context, standing still means regressing. The world is changing, so you must change with it. And this doesn’t just apply to large corporations. In SMEs too, targeted improvement actions are no unnecessary luxury. At least, if you find it important to realize your entrepreneurial ambition.

Structured Approach to Improvements

Through the ICR score of their company, entrepreneurs guide improvement actions. As a company, you aim for ICR 1, mainly because it allows you to maximize your organization's potential. You are fully engaged in goal-oriented entrepreneurship, and your company has highly effective and efficient processes. Financially, this leads to higher returns, as you pair lower costs with higher revenue.

Setting Priorities Based on the Right Insights

In practice, many companies have a lot of potential for improvement. And of course, it’s not feasible to tackle everything at once. That's why you use the Route ICR web application. It gives you insight into the grades of all 33 ICR objectives on just one A4 sheet. This is incredibly helpful when you need to determine the order and speed at which you carry out improvement actions. In other words, setting priorities based on the right insights.

Small Steps Keep It Manageable

Implement improvement actions in small steps. Suppose you currently have a grade four for guiding your company. Then aim to improve from four to five, not directly to nine. This is more manageable and, as the results are tangible, you constantly see progress. This motivates your team and helps maintain the right focus. It also encourages continuing with improvements. Once you reach that point, a continuous culture of improvement prevails in your company. And the positive results prove that targeted improvement actions are no unnecessary luxury. For the entrepreneur, this is the most valuable outcome of implementing SME governance in practice!

Over de schrijver
Entrepreneurs take risks and are incredibly important for our economy. Unfortunately, a good balance between work and private life is often lacking. It is precisely this that drives Paul Joore to have a positive impact on the lives of entrepreneurs and contribute to their success. Paul is the ambitious founder of the online Route ICR platform for successful entrepreneurship. He is also the author of the entrepreneurship book ‘Succesvol groeien doe je zo!’ (Successful Growth, How to Do It!). "I believe in setting seemingly unattainable goals. Challenging oneself, innovating, and constantly improving. Supported by a well-structured organization." Paul has tens of thousands of flight hours in the business world, with a background as an entrepreneur, coach, interim manager, and former chartered accountant. Always focusing on realizing challenging goals as effectively and efficiently as possible: in other words, being successful through being inControl, in the entire process from true ambition to result. This only works by thinking, planning, and acting from a goal-oriented structure. In the SME sector, there was a lack of knowledge and experience in this area, and well-thought-out solutions were not available. Therefore, Paul decided to create this himself. In many SME businesses, the 'madness of the day' reigns. As a result, entrepreneurs are not inControl when it comes to achieving goals, let alone challenging ones. Therefore, they also do not realize their true ambition. Worse, for many, this ambition is not even crystal clear. And how can you work towards a goal without having a real one? Logically, there can also be no balance between work and private life. And no balance means no rest. So, the Route ICR web app helps entrepreneurs and teams to be inControl in the entire process from ambition to result. With the ICR "InControlRating" of your business as a growth compass. Very clear and handy to know through one number how your business is and will be doing. So you know whether you will achieve your goals and be successful from this starting point. And if the score is disappointing, you also know what to work on to improve. This way, you gradually work towards a better balance in your life, feel good about yourself, and have a positive mindset! Are you curious? You too can experience the Route ICR web app for 14 days free of charge, without obligations!
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