Almost every business that is started copies the businesses it competes with. Everyone copies each other. It’s how it goes. They compete on business models and best practices. But, it doesn’t have to be this way.
Tag Archives: Strategy
How to Develop Situational Awareness And Sharpen Your Strategic Thinking
Most business leaders operate with a very limited view of what’s happening in the world beyond what they know, much less how it impacts their business. It’s one of the reasons why most businesses react to change rather than exploit it. What I’m talking about is having situational awareness and good business acumen.
Bet On Inevitable Trends
Whether you’re doing more of the same, innovating incrementally or radically, there are no safe bets when it comes to entrepreneurship. It’s easy to follow along and just do what others are doing because you don’t want to stay behind. But remember one thing: Innovators are the early adapters.
The Death Ground Strategy: Create A Sense of Urgency
Happy New Year! I want to set the tone for the 2024 first post this year: Acting with a sense of urgency.
There is no better way to do that than fighting with your back against the wall. This is called the death-ground strategy. Though initially a military tactic, this ancient strategy holds profound implications for personal and professional growth. The Death-Ground Strategy is based on placing oneself in a ‘do or die’ situation, where failure is not an option. In such scenarios, people often find untapped reservoirs of courage, determination, and focus.
How To Make Culture Your Advantage
Imagine this: your employees wake up excited to come to work. They feel valued, heard, and empowered to do their best. Collaboration flows naturally, and creativity sparks around every corner. This isn’t a utopia – it’s the reality for companies that have unlocked the power of culture – their secret weapon for success.
Focus on the Problem Customers Have, Not What the Competition is Doing
I recently had a conversation with a friend who owns a marketing agency. My friend, although very smart, has a very deep tendency to see what competitors are doing and is constantly reacting to what others do. This puts him, and his business, in a bad position. Most business leaders run their businesses the same way, looking at what others do.
Build Your Strategy Around These 12 Things That Won’t Change
Most businesses base their strategy on what is, rarely looking out into the future to consider what’s going to change. Better businesses look out into the future, embrace it, and base their strategy around it. The future is uncertain, it’s a range of possibilities, which makes it difficult to plan for. It’s why most business leaders want to know “What’s going to change in the future?”, it’s a common question. But, a better question is “What’s not going to change in the next ten years?”