Shifting strategies

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A basketball player recognises their original route to the basket has been blocked: what do they do? Easy - without a second thought, they pivot and shift strategies, rerouting themselves onto the quickest and easiest route to the basket. Two points!

 

When it comes to obstacles in the original plan, small business owners need to act with the same grace, coordination and speed as a trained athlete does, taking in the scenario and shifting strategies with deft ability.

 

The art of the strategy shift is in changing the course while still moving towards the original goal. It's not about abandoning ship. It's all about evolution.

 

Sometimes the biggest challenge in this scenario is actually recognising the need for a strategy shift. Small businesses must constantly challenge themselves, evolving and pushing the envelope in the quest to stay relevant.

 

When a strategy shift becomes obvious, consider these tips:

  1. Evaluate the strengths and weaknesses of the business. Listing out these factors will help in determining which strategies stay and which are in need of a change.

  2. Start the conversation and ignite innovation on all levels. Be wary not to alarm employees of a potential stall in business but encourage them to discuss the competition and the obstacles in order to foster a think tank.

  3. Evaluate threats and competition by talking to customers and employees.

  4. Once identified, study the potential strategy shifts that would address the current threats. There will always be more than one route - consider all options and their ramifications.

Once you have reached this step it means a change is blowing in the wind. At this point it is time to map it out. Details are your friend at this step - how will this shift affect process, profits, costs, brand, team structure, and culture?

 

Decided on your move? Now put on your sales hat and get ready to sell that shift to your team. You need all hands on deck to implement strategy shifts.

 

Be sensitive to the effects of the change on your client base. Ensure that you include your long-term customers in the change process so they do not feel shocked by the new practices.

 

A plan of action that includes tasks, deadlines, communication and goals will assist along the bumpy road of shifting strategies.

 

Contact us

Email results@businessacademy.nz

 

Skype PhilANZ

 

Phone 04 920 0911

 

P.O. Box 30-545, Lower Hutt 5040

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