It is not the strongest of the species that survives, nor the most intelligent…but the one most adaptable to change. Charles Robert Darwin
Take Action…Don’t Wait!
Have you ever felt that no sooner did you feel comfortable at what you were doing, that in the same split second, things changed and everything was different? How we do business is changing rapidly, and the new reality of doing business is not being embraced by the business world. Most business owners keep trying to do “Business as Usual” and that doesn’t work in today’s market place. One of the biggest mistakes business owners make is not adjusting to the current market place. A recent study done evaluating what quality people needed most to excel in the 21st century showed flexibility as the most important quality. Unfortunately, most people don’t like to think about change and doing things differently.
One very simple way a business owner can facilitate how to make a change to adjust to the current market place would be to ask some basic questions. For instance, first, if I were starting my business today, what aspects of it would I change? Second, what about my business would I absolutely keep the same? Third, how can I move my business into the current market place? The answers to these simple questions will give you the insight into the shifts you need to make to be successful in your business or career in the future. Consider each of the following categories: products, services, employees, sales and customers. Then, with courage and honesty, create a vision for each of them based on your business in the current market place. I think your answers will surprise you if not shock you!
As you continue evaluating your business, write a list of products you would keep and which you would not have purchased in the first place. What about the services you offer? Which ones are still marketable and which are out dated? How are your sales? Then, move on to employees. Are the people who represent your business the same ones that you would hire if you knew then what you know now? Are they continuing professional development, are they team players, do they share your vision for the business and are they working with you to accomplish it? Last, but not least, what customers would you continue doing business with and which would you eliminate (figuratively of course) . Some customers bring nothing positive to the business and create a lot of unnecessary fires you spend time putting out. This is one time that more is not necessarily better!
When you only have a specific set of business tools to grab from, you keep using them over and over again forming habits that are difficult to break! You then become complacent, comfortable and less likely to venture out into new and different ways of doing business. Thus, doing “Business as Usual” syndrome.
Let’s think for a moment of who our audience is. Who is the customer of the current market place? Well, the internet changed the way we do business. How customers select the businesses they patronize is vastly different and therefore, how we reach out to our customer base has to be vastly different. The new reality is that more than 60% of business is done via internet in one way or another. That statistic in itself changes the entire dynamic of doing business. The customer of today’s market place is much more selective, cautious, and demanding. And do you know why? Because they can be! Because the current business market place is done through social media, the consumer is exposed to limitless choices of whom they will choose to conduct business with . Business as usual is dead and gone. The truth is they are getting offers left and right for free stuff, give-a ways, introductory offers, all included bells & whistles. So, if they are going to choose you, you better present a good reason. That of course starts with making changes that will accommodate your current market place vision.
Remember, customers are much more careful amount spending money because of the uncertain economy. They are working on getting out of debt and saving money, and if they are going to buy a product or service, they have the world at their fingertips….literally! One thing that I know that I know ….your competitor has one goal, and that is to put you out of business! Let’s make sure that doesn’t happen. Your Coach, Rose.