Could “complacency” kill your business?

Every business must re-invent itself periodically.  Past success is no guarantee for future growth.

In business you’re either growing or dying.  There’s no room for complacency.  To stay ahead of the S-Curve you must continually reassess your position in your market, your management and what could disrupt you.

Which means that you as the leader must constantly have an eye to the future, trying to look round corners to see what could impact.

When coaching business leaders, our VMS methodology cycles through their vision, mindset and strategy forcing them to look into the future as well as sideways so they don’t get blindsided.

Our job is to ensure our clients never get complacent.  Think they have a market sown up.  And don’t look at what could disrupt them.

An obvious example of impact of complacency is the financial planning industry in Australia.  Given the recent Royal Commission’s findings and legislative changes, huge swathes of planners will leave the industry as they simply can’t comply with formal educational requirements or their existing business model based on commissions isn’t possible.

Much of this should have been foreseen.  There’s been a gradual tightening of requirements.

Having worked with clients in over 46 industries we insist they are committed to reinvention so they keep ahead of the curve.  Which takes vision and is a complete 180 degree mindset shift.

BTW, this is especially important when things look rosy.  Revenue and profit are high.  Ironically this is exactly the time to do so.

Remember, what got you here won’t get you there!

A key to sustained growth is new thinking.  It also involves setting up leadership and accountability systems which allow delegation of responsibility, freeing you (the leader) up to think!

So what are your growth plans for the coming years?  Do you have a long term vision, mindset and strategy which supports growth?  What mechanisms have you got to reinvent your business?

In short who’s supporting you?  What’s your commitment to yourself?

At Revealed Resources our job is to do exactly that.  We work directly with you, the leader and your team to guide your vision and set your strategy.  In short we help you see round corners.

Need support?  Call me on 0414 913 334.

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By |2019-12-17T11:26:47+11:00December 17th, 2019|Practical Tips, Strategy|0 Comments

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