It can be easy to get stuck in the rut and slip into a routine. Far too often leaders stay the course simply because “it’s how we’ve always done things.” However unintentionally maintaining business as usual can be extremely dangerous for the future of your organization. The reality is that as time passes, your markets, customers and competitors change. And your business should adapt to these changes as well.
If you find yourself stuck in the same routine, it may be time to take a step back and reevaluate your strategy. Here are some ways to reinvigorate your business plan.
1. Take a Break
First, dedicate some time away from the day-to-day operations of the business to review your strategy. You may think you’re too busy to do this exercise, but if you want your business to succeed long-term evaluating your strategy is essential. Whether you gather your leadership team for an off-site session, or it’s just an hour you spend thinking about it. Take the time.
2. Use Tools
We use a variety of tools to generate new ideas about growth opportunities. Using tools helps leaders gain a fresh perspective. Helps them see their company from a different lens and truly evaluate the business from an objective standpoint. Some of the tools we use include Porter’s Five Forces Model, The Opportunity Matrix, and the Five Options for Growth.
3. Foster Open Dialogue
From a facilitation standpoint, we use a mixture of individual and group communication to draw out perspectives. Prior to any session we usually interview individual leaders ahead of time. These interviews allow executives to voice their perspectives in a safe space and ensure that everyone’s voice is heard and prevent groupthink. If you don’t have a facilitator, you could ask everyone to answer your questions and write down their thoughts prior to the group meeting. Then, when you move into the group session, you will be able to have a rich and meaningful dialogue because everyone has already has thought about the questions beforehand.
Hopefully these suggestions will inspire you and get you excited about company growth.
Have questions? Let’s Talk! Talk to a senior Capstone advisor at no cost, with no obligation and no sales pressure. We guarantee you will value the conversation. Contact us online or at 703-854-1910.