The risk of too much opportunity

In business, everything flows from your mindset.  It influences your strategy, marketing and sales.

One of the most important aspects of mindset is how you handle choice and opportunities.

One of my favourite sayings is opportunity dances with those already on the dance floor.

But could there be such a thing as too much opportunity?

Let’s stick with the dancing analogy.  You’re on the dance floor and you see 20 potential partners.  Who do you choose?  You pick the first person, but then rather than concentrating on being a great partner, you keep looking around for the next one.  They feel neglected and you never get into a great rhythm.

Business is the same.

As business strategists, when working with clients we notice two broad mindsets.  The first is laser focused on their direction.  Their vision is well defined and they follow that track.

The second tends to be more opportunistic and often chase multiple disparate opportunities.

But in doing so, they never fully realised the potential of any of them.  And they leave themselves open to significant risks.

So our first job with this group is to reign them in.  Less is more.

Consolidate what you’ve got and then grow it. 

This way you can concentrate on one main strategy, marketing and sales system.  You don’t flit from idea to idea, and everyone in your team is on the same page.

You can develop a core expertise and become a market leader.

The other major risk of chasing opportunity and rapid growth is finding the cash flow to support it.

Organisations often completely underestimate the finance reserves required to fund growth.  Could be in more personnel, premises, technology or equipment.

It becomes a chicken and egg situation.  You get the new contract, need the resources to deliver it, but won’t get paid until you do.  So can’t afford the resources.

And as a business owner/leader you never develop the organisational structures, delegation and accountability systems that underpin all successful businesses.

Barbara & Rashid.

And…  Ready to grow your business?  Here are ways we can help…

1) Access a mini MBA of free material on business building topics of Mindset, Strategy, Marketing and Sales – Click Here

2) Work with us One-on-One.

If you’d like to work with us personally, we’ll design a bespoke growth program designed around the 4 main components – mindset/leadership, strategy/business models, marketing and sales.  Hit reply to this message and tell me a bit about your business and your goals, and I’ll get you all the details.

 

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By |2019-02-12T14:17:38+11:00February 12th, 2019|Mindset, Practical Tips|0 Comments

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