The task of a business leader is to overcome the paralysis that these tight economic times can bring, and begin to shape the future for your company.
To do this you must start by taking stock. What do you really know about your market and industry? How has this current state changed it? Guaranteed it will not be the same as it was four months ago, let alone when you did last years strategic plan (if you did one).
By taking stock of the consumer and competition you will gain understanding that will result in critical and timely changes in strategy. These strategies will need to take into account the high likelihood of change that is still to come, and differentiate by addressing the barriers that will stand in the way of your stated mission and objectives.
In short, companies that spend time and money figuring out what matters to their customers today, and then cutting or funding projects accordingly, will be the companies that thrive in the months ahead.
So how many businesses in Western Canada are doing just this. I dare say not enough. Too many are becoming paralyzed.
Subscribe to:
Post Comments (Atom)
Posts
4 comments:
Good thoughts Don. The game has definitely changed over the past few months, but it's important that we don't panic. Business is still happening all around, but it requires (as you stated) that we pause and listen to our clients and customers. What's important in today isn't the same as in times of abundance.
Well said, Don. What better time to take stock than at the beginning of a new year? In a recent post http://tinyurl.com/av429w, I wrote that we need to know where we are before we can set out for where we want to be. Before taking any action, it just makes sense to take stock, set goals, and make a plan! -- Zenobia Hurley, Zipnet
Good thoughts, Don.
A friend recently introduced me to the idea of the '90 day (2 page) business plan'. It is apparently based on the thinking from "The Rockefeller Habits" (which I will confess I have not read).
The idea is to take stock, set priorities, look at the smart numbers and get into action.
I believe a positive attitude will be key to individual and overall economic success. So "play" it forward.
Cheers,
Brian
I like the 90 day plan that Brian talks about. Not sure how many smaller businesses have time to do this ...but they really should. Just look how much has changed in the last 90 days!
Post a Comment