The Risks of Business TransformationThe Risks of Business TransformationThe Risks of Business TransformationThe Risks of Business Transformation

Like Empires, even the most powerful brands can fail due to this...

Many historians blame the uprising of the barbarian hordes for the fall of the Roman Empire. But the decline started way before the Goths and Vandals sacked the eternal city of Rome in 476 AD. Just as the decline of the iconic brand KODAK started well before the introduction of digital photography.

There are many reasons why an empire or iconic brand can fail, but complacency and arrogantly believing you are untouchable, is a consistent theme.

If you are trying to grow your business, you too will face barbarian hordes, except we call them 'competitors' and they are just waiting for you to make a mistake.

So how do you navigate a rapidly changing business environment and safeguard the future of your brand?

"Business owners are swamped with advice from an army of business advisers, consultants, and commentators in the media.

Pivoting is the latest trend that is being touted by experts as an innovative way of transforming a business. Pivoting promotes a radical change of direction when your current business strategy is not delivering the desired results.

It involves a rapid and disruptive change to a company's business model, product, and or target market.

Pivoting just might be the answer for a struggling business, but it does risk 'throwing the baby out with the bath water'.

That's the problem with the people who advocate for such an aggressive approach, the 'baby' isn't theirs and they don't care about the 'bath water'.

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Pivoting just might be the answer if you want dramatic growth, but it does risk 'throwing the baby out with the bath water'.

As a business owner it's all too easy to be seduced by the latest business trend that promises transformative success, especially the ones that sound scientific or are based on psychological principles.

Remember TQM, (Total Quality Management) or Re-engineering, Lean, Agile, Kaizen, Six Sigma, Blue Ocean Thinking?

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Then there's the BHAG (Big, Hairy, Audacious, Goal).

There's nothing wrong with having an audacious goal, but unless you have a clearly defined strategy and a timeline with KPI's, milestones and other deliverables in place, your BHAG is nothing more than self delusion.

A little like those crafted Vision & Mission statements that no-one really believes in.

If you want to ensure your business has a future, then the most critical thing to do is position your brand so it stands out from anyone else in the market and gives the consumer a compelling reason to choose you, rather than the competition.

A beautifully written Mission & Vision statement might be good for the ego, but if you want to achieve profitable sales, AND protect your empire, then you must focus on your DIFFERENTIATION STRATEGY.

If you want to know how, then book a free Strategy session now.

Then there's the BHAG (Big, Hairy, Audacious, Goal).

There's nothing wrong with having an audacious goal, but unless you have a clearly defined strategy and a timeline with KPI's, milestones and other deliverables in place, your BHAG is nothing more than self delusion.

A little like those crafted Vision & Mission statements that no-one really believes in.

If you want to ensure your business has a future, then the most critical thing to do is position your brand so it stands out from anyone else in the market and gives the consumer a compelling reason to choose you, rather than the competition.

A beautifully written Mission & Vision statement might be good for the ego, but if you want to achieve profitable sales, AND protect your empire, then you must focus on your DIFFERENTIATION STRATEGY.

If you want to know how, then book a free Strategy session now.

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