Review, Focus, Reset

During the months of December and January, Compete Weekly will present a selection of nine key thought pieces from the 2017 series that will help you focus and reset for 2018. 

Article Three – Recreating Your Business In Our Changing World

Many successful businesses lose growth traction and become comfortable and content with their historical success.

But yesterday’s success doesn’t guarantee a viable future. There is no place for complacency in a successful business. So what do you do when you suddenly realise you are falling behind the market?

It can happen to any business, no matter whom they are or what market they are in. Your business may be in a booming industry and you go out of business. Your success is 80% or more dependent on you and your leadership team, not the market you sit in.

The first and most important point is that opportunities are about the future and not the past. While what you have done and the successes you have achieved in the past are great they are not necessarily relevant to the future or the identification of opportunities. Be conscious of the past, build and compound upon its foundations but be careful they don’t restrict your view of the future and what it may bring.

Opportunities just don’t jump out in front of you. You have to go searching and exploring for them. It requires an inquisitive mind, free of paradigms, to find them. And then you must turn those opportunities from potential into reality and create effective value for your customers.

Knowing the best place to find opportunities is the starting point.

Read More …

Additional reading – ‘Faith Is Spelt R-i-s-k’

And last week’s article … ‘What Is The Life Expectancy Of Your Business?’