Is your business stuck?
Many businesses of many sizes have spent the last year dealing with the challenging times. Some businesses have failed, many are still floundering, and many businesses are just stuck. Often when we are defensively forced to deal with outside forces we get so ingrained in our defensive mechanics that we get stuck in that mind set. Defensive mechanics will not lead to positive growth and/or results. There is no question the business world is in the process of creating a new normal. The question becomes how is your business creating and defining its new normal? What will positive growth and future success look like for your company?
It has been our experience that creating a new normal requires going back to basics. Here are some thoughts to consider that have helped our clients get unstuck:
- What is the basic foundation and business philosophy of your company?
- Why are you in business?
The answer to these two questions will reconfirm or reestablish the reasons your business exists and provide a much needed guidepost. After you reconfirm or reestablish the reasons your business exists take the time to review your vision and values.
Tom Peters said, “A clear vision of the desired future state of the organization is an essential component of high performance.” Creating a new normal requires reevaluating your vision of the desired state. Based on the changes in the current business climate, what will your organization look like in the future? The vision statement provides focus for everyone in the organization. An understanding of the vision provides the foundation for day-to-day decisions. A vision energizes action, toward a future that is better than today. How does your company’s vision need to change? There is one universal rule in success: you will never be greater than the vision that guides you. Perhaps for your organization, getting unstuck requires revitalizing your company’s vision.
In addition to a clear vision a successful company needs to communicate values and principles by which they do business. Values represent your philosophy for achieving success and they serve as important guidelines for everyday behaviors and decisions. How have recent changes in the business world impacted your values and principles? What does your organization believe to be true and non-negotiable today? As Peter Drucker said, “The purpose of an organization is to attract and maintain customers in order to generate profits and viability.” Issues such as current customer’s expectations, product quality, and service should be taken into consideration in your values statement. Your values should take into account how you feel about and the value you place upon your customers, your employees, your suppliers and vendors, stockholders, the community and all others with whom you interact and do business.
Re-evaluating your vision and values are the first two steps to revisiting your strategic direction. We have found in these ever-changing times that strategic planning is no longer a discretionary decision, and it provides the impetus to getting unstuck. Create your business’s new normal by re-evaluating your strategic plan and implementing the critical success factors that will propel your business forward. There is a very high likelihood that what you are doing today and what you did yesterday will not produce the results you want to see tomorrow.
Tammy A.S. Kohl is President of Resource Associates Corporation. For over 30 years, RAC has specialized in business and management consulting, strategic planning, leadership development, executive coaching, and youth leadership. For more information visit www.resourceassociatescorp.com or contact RAC directly at 800.799.6227.
Tags: business, Management, new normal, Peter Drucker, Strategic Planning, Success, Tom Peters, Values, Vision
Great perspective. Only addition might be to create that “new normal” suggests you may need to identify your current talents necessary to execute that “new normal.”
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