The rules of business have changed. You can see it, sense it, and maybe even know logically that things are evolving in the modern landscape of business and economy. But like many, maybe you haven't made the changes yet. This is primarily due to two things. 1) You don’t know what it is exactly that you need to change. 2) You haven’t broken your habits of operating the old way.
Awareness is the first step in changing. So, let’s start by revealing what needs to change immediately. I say immediately because continuing to operate in this way will absolutely lead to failure. You must allow your strategies to evolve...
Change number 1: Communication Strategy
The old way guided us to find a way to solve a problem for a target market, listing a big beautiful array of benefits of the product or service. This is still a good tactic. But simple communication will no longer create a loyal customer base with the masses eagerly clawing to get at your product or service. In the New Economy, this simply doesn't work. And before I tell you what does, I’m going to guide you through 3 other things you need to change immediately.
Change number 2: War Mentality
The old way says, run a competitive analysis. Look at your competition’s strengths, weaknesses, opportunities, and threats. The SWOT analysis. Analyze the SWOT and compare it to your own SWOT analysis. Based on this information, you would then devise a plan to beat out the competition. That is the competitive strategy and in the truest sense of the word, that is what strategy is all about. Strategy is derived from WAR strategy, the approach you will take to annihilate your competition, your enemy. This mentality has HUGE limitations and sets you up for failure. More on this coming up. Let’s move on to change number 3.
Change number 3: Stagnancy
“Do what’s working” is what we hear often. Yes, of course. But, would you know if it’s not working? Are you truly analyzing what is and isn’t working? Or, are you in a comfortable place, closed-minded, and stagnant? Having an aversion to change stifles you, keeping you in the “comfortable” (stagnant) place. Innovation doesn't occur at comfortable. Your customers will move on and potential customers will bypass you. Success means getting out of your comfort zone. You can’t do that without evolution.
Change number 4: Lack of Planning and Focus
The lack of a plan is a lack of clarity. Lack of clarity is a lack of focus. When you lack focus, you react to everything. You react when customers aren’t calling, when cash flow gets tight, and when the competition gets PR but you don’t. The lack of a plan leads to chaos and your customer base will pick up on it. The lack of a plan leads to a loss of credibility. Your chance to capture the trust of your target market slips through your fingers.
How do we counteract these 4 practices that inevitably lead to organizational death? By implementing the 4Cs. I wrote about this a couple of weeks back. As you start working on the 4Cs in your business, you systematically start replacing the old ways with new ones. Take a look at the 4Cs and get some positive perspective for forward momentum.
What are some things you are doing that have to change? Are you stuck in the old ways of doing things in your business or nonprofit? Share below what that is and what you want to do to change it.
To your illumination!