Business Strategy needs an overhaul?
In this crazy and fast paced business world, you can often feel like you’re barely keeping up and everyone else (including your competitors) are sailing along just nicely. Well guess what? You’re not alone. Many, if not most small businesses are in a similar situation to you, albeit with differing needs and pain points.
The thing is, most business owners don’t stop running long enough, to ensure the direction they are running in, is in fact the best direction for them.
“Slowing Down to Speed Up“. Businesses need to regularly build a new business strategy because it is likely the previous one is already outdated. Business strategy should be in constant review because very little remains stagnet anymore.
However I see many business owners who don’t stop and reset their business regularly (if at all) and I am starting to understand why. Let me explain.
In a VUCA Business world, as owners and managers, we often need:
- Inspiration and fresh motivation
- Insight and ideas for finding new growth opportunities
- Implementation and action plans to guide us on the “what to do next”
That all makes good common sense, but commonsense is not always common practice.
WHY WE DON’T SHIFT…
I see three reasons why business owners don’t shift gear and change old habits, and create the business of their dreams.
Quite simply, I see business owners who can’t ‘get over themselves’ long enough to think that someone else may know better than them.
This is either portrayed quite deliberately (as in a chest puffed up, look at me sense), or quite by accident (where as a ‘business owner’ you now feel obliged to become this ‘business superhero’ identity simply because you have purchase/started a business).
In Business, ego can be dangerous. Sure we need to be confident and positive, but we shouldn’t fall into the trap of isolating ourselves away from outside influence and advice.
OK, so I am probably starting to upset a few now. But to be frank, many business owners say they want ‘xyz successful business’, however when it comes to the crunch, they really aren’t prepared to do the work, or demonstrate the persistence, or get out of their comfort zone to get the results they say they want.
I’ve even seen businesses take the step and spend loads of cash on advice and strategy only to not take any action. As if to be hoping for a silver bullet that will shoot them to business success overnight.
Business is simple really. A smart strategy followed by loads of effort. Then some patience!
Let’s face it, if it was easy, everybody would have it (business success) and no one would therefore really want it.
So even if you manage to get over your ego, if you are truly prepared to do what it takes, the third thing I see that stops owners from setting a new strategy is the perceived expense on seeking outside professional advice.
I’ll keep my response to this hurdle brief, and let you ponder as to where you sit on this item.
- Look at the Top Line – Stop looking at professional service fees as a ‘cost’ and consider them an investment. What is the result you are trying to achieve and what is it worth to your business (Revenue/Profit/Sales/Productivity) if we get it right. Even if you only achieve 50% of what you aim for, I’m confident the ROI will still be strong.
- Look at the Bottom Line – What if you don’t start getting the results you want for your business? What is the overall, long term cost of failure or stagnating your growth? Again I’m certain it is far greater than the cost of any proposal that could be put in front of you.
HOW TO OVERCOME ALL THREE
Well, 1 and 2 are up to you (and if I’ve upset you along the way, I apologise). But it depends how serious you are about business growth this year! However I have a solution for the third issue of perceived expense for professional business advice.
At BizScaping I offer high level and insightful workshops utilising latest business modelling and tools as well as the personal attention of my ‘always thinking new ideas’ brain! Once we unpack some fresh thinking then we get straight onto developing clear action plans ready for implementation.
I have put together a special package for the months of January and February to help as many businesses as we can, find growth in 2017.
This ridiculously reduced offer is only for a limited time because it’s so cheap, but I just want to help you get a taste of what it’s like to have your own business coach and help unlock the perception of the value proposition I offer.
My goal is to find your path to Business Growth in 2017. Be quick and book you new business strategy now.