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Posts Tagged ‘Business Growth’

5 Obstacles to Growth

Growth StepsGrowth is the key factor in everything we do. From Business Growth, Opportunity Growth, Financial Growth or Personal Growth – the key connection is Growth. Positive Growth is more accurate.

Growth is our lifeline to the future. Think about periods of no growth – like the “Great Recession” several years ago. The decline in growth hurt – revenues declined, incomes declined, homes were lost, jobs were lost, morale was low, and people were naturally more negative about things.

Growth is the only thing that can substantially change the course of the low ebb tide of performance and mindsets. Without growth, we would still be in this mental and actual bind of negativity and decline.

So how can we improve Growth? What can leaders do to increase the opportunities for growth? What can individuals do to improve their growth opportunities? Here’s how…

Trends for 2014 and beyond for the Business Leader

As a new year begins to unfold I assume you have taken the time to review the results of this year. Reviewing the results of the year is very important – if you are interesting in results and execution.

The fact is plans are a dime a dozen – everyone has plans. There are Strategic Plans, Business Plans, Marketing Plans, Sales Plans, Developmental Plans, New Development Plans and Key Account Strategic Plans. However, plans without an extensive review and comparison to expectations is only a sheet of paper with writing or numbers upon it.

The key is the execution of the plans which directly relate to the results and outcomes your organization or business  unit accomplishes. This is the time of the year to take long looks, dialogues and focus upon what has occurred against what was planned. By focusing on your results, you can put together an improved plan for the future.

Recently, I had the opportunity to listen to one of the futurist thinkers of our time and he pointed out four specific trends occurring in our business environment for us to reflect upon. By reflecting I mean taking a hard look at your industry, apply what you learn about these trends and then assume something is going to happen in your marketplace with a definitive impact upon your plans.

The four trends are…

  1. Smart Devices are taking on more emphasis
  2. Amazon is going after new industries
  3. Technology and Social Media determines your business level
  4. Robotics are coming fast

Let me explain how these trends will impact organizations.

What is Good Enough?

I am sure that you have heard this expression – what is good enough? It is one of those questions that can create both tension and excitement within the same level of execution. So why do we have the dynamics regarding this question?

Well, the answer lies in the emotional level of the answer. Often emotions and in some cases – no emotion – is added either directly or indirectly to the results. Okay, I know I’m beginning to sound like a economist or worst a political person. So, let me explain my answer.

First, on a direct and unemotional example the following can happen. A job or customer action is performed without any emotion and then “technically” the job is completed as originally quoted. There are results, yet, the degree of positive response from the customer is based upon their perception of the quality of the work. Here’s the rub.

When work is only performed to the minimum standard, as a customer there are doubts as to the overall quality and since I’m not excited about the results – I may leave and do business with someone else. You see – doubt and a lack of emotional satisfaction – has opened the door to other options in the future.

Second, this one is easy. Lack of results and poor emotional or quality productivity leads to finding another source almost immediately. Here is where a possible debate over payment comes into play, since the customer feels that something is missing there is a desire to withhold payment. And, if the provider got the money up front – well, now the customer feels cheated – no repeat business here!

Third, the provider misses a few of the agreed upon items, yet, happily does several other things that were not part of the agreement. The customer feels good because several other things were done and collectively adds value to the deal. Happy customer, yet, not locked in for life because a few things were missing in the results. Still, due to the deliver of the little extras the customer feels good about the experience and will do more business with the provider. It is now time for the provider to step up and deliver in full the next time and lock the customer up as a loyal fan.

Finally, the provider hits the mark on all the deliverables AND goes the extra mile with several additional things – mostly small details and happiness factors that lead to total emotional satisfaction for the customer. The customer feels like  a winner due to both the effort and results by the provider. This customer is so excited to get this level of results that they cannot hold back their excitement. Yes, they begin to tell others about this great provider and the service they received.

The provider knows that they did something really well, because their new business leads increase due to the happy and satisfied customer. This is the bonus. The little extra created more opportunities for the provider to grow their business.

So use this format to identify areas that you are using service to grow your business by identifying what is good enough and increasing your effort and results. The solution is simple, the discipline to do it is hard.