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Insight, Integrity, Inspiration

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Question 17: How Flexible Is Your Business

” Adapt or die” is a phrase that comes from the world of natural selection, but could apply equally to business.

When operating your business, major events will occur that will put you off course: a new competitor opens up in your marketplace with a much more powerful promise than yours; you cannot get the funding that you anticipated; you cannot enter the new market you had hoped; your product is delayed to market or you have a major challenge to your reputation.

How you deal with these “game changers” will determine whether your business survives and thrives, or dies. In both my accountancy and coaching work I have unfortunately seen examples where businesses have continued doing exactly the same activities when the world has changed around them and expected to survive. It is only by being able to adapt and change that they have been able to progress. In flying if you get blown off course ( which happens a lot, especially in a small plane) you must take correcting action, or even work out a completely new route to get around a large obstacle.

In the same way in business, you need to have the destination fixed in your mind ( the three year plan broken into annual goals) but be able to be flexible about how you achieve that.

One way to do that is to “take stock” on a regular basis – depending on the size of your business either monthly or quarterly….in fact, now would be a good time :0)

Look at your final destination and your annual goals and ask yourself:

  • What happened ( be as factual as possible) with this game changer? What did we except versus what happened in reality?
  • Given this ( insert your own goal here) is what we have committed to achieve by the end of the year, what innovations do we need to do now , with the new circumstances, in order to achieve that?
  • Which actions will have the most impact?
  • Which actions will have the quickest results?
  • What beliefs and assumptions did you make that you now need to alter to the changed environment?
  • In order to meet the annual goals what resources do we need to meet those goals?

If you are in a team it is important that there is someone who is accountable for the delivery of that. If you are not in a team you may need to consider buying in resources from elsewhere to meet those goals.

Good luck

Recent Posts

  • Question 1: Why are you in business
  • Question 2: What Is Your Vision
  • Question 3: What Is Your Unique Selling Proposition (USP)
  • Question 4: Is your business working to your business plan
  • Question 5: What is Your current passion
  • Question 6: Want more hours in the day
  • Question 7: What Are the Obstacles in Your Way to Achieving What you Want to Do
  • Question 8: What are you doing to Plan Your Time & Prioritise urgent & important and make sure you take action on those plans
  • Question 9: What are you doing to clear up past messes
  • Question 10: How well are you measuring and controlling the business drivers ( key business indicators) out of 10
  • Question 11: Are there trends in the niche, market or industry that are likely to give opportunities to the firm
  • Question 12: Are there trends in the niche, market or industry that are likely to provide a threat to the firm
  • Question 13: Where’s the next competitive edge for your business
  • Question 14: which of your competitors are successful and why
  • Question 15: Are you still being a copycat
  • Question 16: How Good Is Your Pitch
  • Question 17: How Flexible Is Your Business
  • Question 18: How Are You Doing
  • Question 19: Do you have a clear sales funnel
  • Question 20: What is the Best Way of Getting New Clients
  • Question 21: Have you reviewed the optimum contribution for each product or service
  • Question 22: Are You A Seller or The Long Term Trusted Partner
  • Question 23: How are you spending your time
  • Question 24: What percentage of sales are from one person
  • Question 25: How Far Have you Come
  • Question 26: What Do You Want? How Do You Know When You’ve Got It? What Do you Need To Do?
  • Question 27: How Social Are You?
  • Question 28: What are You Prepared to Give Up?
  • Question 29: Who Are You Hanging Out With?
  • Question 30: What Can you Do To Increase Your Profit?
  • Question 31: How Effective Is Your No?
  • Question 32: how scaleable is your business?
  • Question 34: How To Win in Business?
  • Question 35: Look inside
  • Question 36: Whats your money mindset?
  • Question 37: What would Richard Branson do?
  • Question 38: What’s Your Money Mindset?
  • Getting Started

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