You need to remain watchful and flexible to the change...
Here's some of my thoughts on how to keep on top of the game.
Being a person of a certain age it’s fair to say the midlife crisis has arrived in spades. For years I have desired a V8 car - the noise, the smell, the rumble and the thrill of something way beyond practical, but oh so very satisfying.
Momentum was building towards my goal, my smile was getting bigger and then… it happened - electric vehicles happened. Bang! In a flash, my self-centred desires were challenged and my well-established V8 justifications and logic went out the window. The game had changed. Bugger!
The moral of this story is that you can never, ever take anything for granted in your business strategy. What made sense yesterday may well change today and almost certainly will tomorrow. You need to remain forever watchful and flexible to the changes in your world.
Think about the impact of Netflix upon Blockbuster and Sky TV as another example of an industry game changer.
My plans to buy a V8 no longer made sense, as no matter how I looked at it, the tide of technology had turned forever. The investment proposition and associated risk assessment took a terrible blow. The V8 dream may not be 100% dead (yet) but the scale and scope of the investment will no doubt have to change.
Regularly re-assessing the risks and opportunities facing your business needs to become an established practice. Challenging your business model and assumptions in a proactive manner is a necessity to avoid being caught out. You need to stay ahead of the herd.
My clients like working with me to objectively and critically review their businesses. I can throw the stones and bricks and ask the hard questions as I’m not emotionally involved nor wedded to any given expectation. I can help expose the flaws and equally identify the new opportunities too.
Why don’t you get in touch so we can review your business together? Just don’t turn up in a V8 please!
NCBIZ provides specialist support and coaching to help start-ups and businesses across Christchurch and Canterbury establish a solid foundation, overcome challenges and perform at their best.