Have you needed to focus on surviving rather than thriving? As a leader, getting your head up to find the future is your responsibility. If you don’t do it, who will?
Begin by recognizing that every business really has just two strategies.
The first strategy involves protecting and optimizing your current core business, the mature activity that is paying your bills today. Investing too much of your time in this strategy keeps you mired in the short term, focused on today’s current pains. Directing all of your energy towards being better, faster or cheaper than the competition convinces your customers and your personnel that your business is just another commodity.
The other strategy focuses on future opportunity rather than current pain, dedicating some precious time and vigor on the generation of new revenue sources and growth. Know your distinctiveness and the uncommon value you produce for your customers, and base your growth strategy on this competency. Then embrace disruption to spark innovation. Ideas can come from anywhere – your people, your customers, your suppliers, your advisors – so make everyone aware that you are seeking ideas.
Opportunities will come from converting validated ideas into actions that align with your growth strategy.
How much time do you invest focusing on the future of your business?
How can innovation create new growth opportunities?
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