One of the big challenges of modern business life is keeping up with change.
In a time of unprecedented change, it helps to think about your business as if every day was its first. These are the biggest changes we see currently affecting New Zealand businesses:
- New technologies rapidly disrupting existing business models
- Increasingly informed and demanding customers
- New expectations on employers from a new, more aware and ‘entitled’ generation
- New models for collaborating with customers, partners and suppliers
If there’s one thing above all others we could recommend to help you address change, it’s to encourage you to treat every day as if it were your first in business.
By doing this you get the clarity that comes with a start-up operation rather than being locked into the mindset of 'this is the way it’s always been done.' When you’re in start-up mode you tend to focus on:
- The viability of the core proposition
- The adequacy of competitor intel and competitive advantage
- A full assessment of risks
- Whether the business structure is fit for purpose
- Ensuring forecasting is up to scratch
- Ensuring your capital position is adequate
- The adequacy of systems and technology
- Having the right partners
A business’s early life is a time when the five senses are particularly finely tuned, when you’re less likely to take things for granted or become entrenched in particular thought patterns.
Of course no business owner gets all these things right all the time. But we’re confident if you revisit these cornerstones and consider them with the clarity that you might have had on day one, you can go a long way to being right on top of them every day of your successful business lifespan.