Key Success Factors

The secret I’ve discovered is… we have to identify what the key success factors of the goals or things we want to accomplish are! Then, we take the necessary action to meet those factors.

While I was a project manager working in a big oil company, my team and I used to help save cost of about 20 million USD for one single project. My team and I received the big recognition and awards from saving the company that much of investment which led to a big profit margin of the project.

How could my team and I accomplish that gigantic success? The answer is… we had identified what the key success factors of this project are. Then, we took the necessary action steps to meet those factors. It’s as simple as that.

Another example related to business is… I coached an SME business owner on her product exporting business. She wanted to export her product to foreign countries. So, we worked together to identify the key success factors for her business. It turned out that the key success factors for her business are… the quality of her product itself and the middle-man or the importers of each country that she was targeting to sell her product to. So, if she could produce the quality product and also could connect with the right importers to bring her product into their countries, most likely, she would be successful in her business.

Another example related to life is… I coached a celebrity on his relationship with his wife. He told me that his relationship with his wife was virtually on the edge. He wife already asked him for a divorce. So, I helped him identify the key success factors for his relationship to be successful. Then, what came out as the most critical success factor is… “He must keep his promises whenever he promises something with his wife.” After a few months passed by, he told me that his relationship with his wife was significantly improved. It’s because he followed thru with his necessary action which is… to consistently honor his words with his action.

It doesn’t matter whether your goals are related to business or life, if you want to accomplish them, you have to identify their key success factors and take necessary action to meet those factors.