Building a Successful Business Model: Re-invent Often

Companies who are continually examining their strategic position and reinventing themselves are more successful than companies who get fixed in the same day to day grind and never change. Are you stuck in the same business model, doing everything the same way today you did last year?

Resistance to change may be one of the biggest problems in business, stunting growth and profitability. Unfortunately we are all creatures of habit; habits make us comfortable. As a result, we tend to resist change, even when old habits become damaging.

But to thrive in a competitive environment, organizations need a regular dose of new ideas, products, operating processes, people, motivational strategies, and marketing strategies to keep pace with the ever changing wants and needs of consumers.

Consider the following actions:

1)      Reinvent yourself with a new compelling vision.

2)      Set aside time every week to discuss ideas with people smarter and more successful then yourself.

3)      Collect valuable feedback from your key employees.

4)      Communicate the new vision to all employees.

5)      Develop a detailed list of actions to accomplish your new goals.

6)      Work with employees to develop new business processes to bring your new vision to life.

7)      Measure your progress frequently, making adjustments in areas where you are falling short of your goals.

8)      Keep everyone informed

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