Last weeks’ article was all about the value of understanding the core of your business and implementing solid strategies to avoid losing yourself in every-day tactical decisions. This week I want to talk about the importance of not relying on old success stories without a proper current situation analysis. How to focus on the current situation not get lost in the old successes?
What if we were to lose our rearview mirror and all of a sudden everything was focused on where we’re going – instead of where we’ve been? I don’t mean disregarding important lessons that statistics and experience offer us. But by really looking at what’s happening in the world today and analyzing your business in accordance to that world, you get a better picture of what to leave in the past and what to bring with you.
Some of the things that I’ve been thinking about:
A lot of companies reuse former success stories without asking themselves one of the most vital questions: Will what we did last year really work this year? By taking into account what’s happened in the world that might have a negative impact on the result or finding the twist that could make you go viral – makes all the difference.
I find that the problem with old truths is that we tend to look from the inside out. And thus, losing our customer focus. Let me tell you, losing sight of our customers’ wants and needs makes it really difficult to succeed.
”Being customer-focused allows you to be more pioneering” Jeff Bezos Amazon
Countless business, marketing and assortment plans follows an old structure and norms according to the “how we’ve always done things around here”. But what if we were to update those plans every year by understanding what’s trending and changing in the world. Instead a lot of us get caught off guard when what’s been working so well for all those years – all of a sudden stop working. New ideas tend to get the response of “already tried that”.
For example, if you haven’t already it’s definitely time to ask yourself: what is sustainability to us?
It’s not an unusual attitude that analyzing and reflecting on things like this is seen as a cost, instead of an investment. But let’s be honest, what happens if you do not take action on the issues of sustainability? What would that cost you in the long run? Most certainly a whole lot more.
When we take action, we could be the ones to set new standards and ignite change in an entire industry. Or simply ensure our own survival in an ever-changing world of laws and consumer behaviors. So, where do we start?
It’s always a good idea to start with what we got. Take a look at your product, service or payment solution – is there anything you can find in connection to what you offer and a specific consumer behavior? Understandably these are complex questions but running a business – big questions are a part of everyday life.
Of course, there are fixed events returning every year like Christmas, Valentine’s day and Halloween where we need to communicate in a certain way. Even so I think it’s important to take a moment and reflect on what you can strip away from last years’ campaign and what you can add instead, making yourself relevant.
You might have what’s called an iconic product or service attached to your history or brand. With products like for instance the shelving system Billy from IKEA, it’s important to have full insight into the product life cycle to know when to boost, renew or find a new twist to keep the product going strong.
There are other structures to fluoroscope in a business. What processes and working routines needs to be adjusted to future-proof them? Looking at what you need today and what you’ll be needing for a very long time, I would say that for instance, issues regarding employment and the wellbeing of your employees needs to be overlooked regularly. Because how else are you to attract necessary future skills?
“There is no process if you don’t have progress in the process” “Unknown”
I suggest that you put on your outside and in glasses and look into your business, to make sure you are heading the right way, keeping your company alive and kicking.
Reflections by
Susanne-Kikki Israelsson
