As we make our way into the New Year, it’s important to remember that the old adage, “the only constant in life is change” holds true. Technology, progressing at warp speed, has all of us hurtling like a comet into a brave new world. Some things, however, never seem to change… like change itself.
As your company grows, you will find yourself spinning more and more plates in the air. Growth is ultimately a positive thing, but it will force you out of any comfort zones you may have constructed for yourself. You’ll have to make bold decisions to stay one step ahead of the game, to continue your upward trajectory.
Here are a few ways to organize your “change game plan” to avoid overwhelm, stress, and confusion as to what to do next:
People and Culture: You’ve hired the best, but are your people being cultivated and their potential truly tapped? Is your company culture thriving or tanking? Staying as lean as possible by using all the creativity and strengths your people possess will not only save you money, it keeps your staff fully engaged.
Competition: Do you know who your main competitors are and what they are doing? Take the time to understand their products, funnels, and business model. Is there something they are doing that you can emulate (not copy!) to benefit your own business?
Products/Services: Is your current product lineup making the cut? What are people saying about your current offerings? Are there market trends that apply to you, and how can you make them into a viable product or service?
Customers: How is your demographic changing? What are their hopes and fears? Have you done your due diligence with surveys, drip marketing, and social media to keep your “finger on the pulse” of what matters to your customers most?
Vision: What are your company’s one, two, and five year plans? There are always unknown variables that make these questions somewhat nebulous, and even a bit “loaded.” But by creating a flexible road map of the enterprise you endeavor to build, those unknowns won’t be as daunting as they would be if you hadn’t put any forethought into your long-term goals.
The moral of the story in all of this is pretty simple: it’s easier to adapt, and win, when you already have an organized plan. Be sure to take the time to work on your business, not just in it. Rough seas won’t usually sink you if you’re well equipped with map and compass in hand.
Allen Baler is a leading entrepreneur and Harvard grad. Allen Baler is a Partner in 4Patriots LLC, based in Nashville.
Disclaimer: This blog post is not a substitute for the sound advice of a business professional with expertise in the subject matter discussed. Please seek appropriate counsel on what strategies make sense for your business.