Two Sides Of A Business Coin: The Haves & The Have Nots – Grow Great Daily Brief #171 – March 21, 2019

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A problem prospects have and don’t want

A result prospects want and don’t have

Most businesses operate in one or the other. A few may operate in both ways.

Over time we often get complacent and stop looking at such basic things. Big mistake. Fundamentals are often where the real power is found.

Over time we lose sight of our business fundamentals because fighting fires become our habit. And each day has a variety of distractions that must be managed. Like taking time to do important things – like rest or exercise or meditating – our schedule forces us to concentrate on the urgent, pressing matters. That’s why perfectly intelligent people – like us – can neglect our health and wellness. We know what to do. We just don’t discipline ourselves to take the time to do them. Often, until it’s too late.

Today, I’m urging you to get on with it. “It” being putting the fundamentals of your business model back in the foreground of conversations.

Let me suggest something to you – an exercise to conduct with your leadership team. Carve out 45 minutes of uninterrupted time between now and the end of next week. Give this meeting one agenda item – just one: to discuss the value we provide our customers.

Write it on the whiteboard:

A problem prospects have and don’t want

A result prospects want and don’t have

Don’t dominate the conversation, but lead it. Pose the question, “Where do we provide the most value to our customers?”

Listen carefully. Make notes.

Let the team engage in debate and dialogue. Disagreement is fine. You may learn something. So may your team.

Does the team see it the same way? If not, is that a problem?

Where are the constraints and challenges?

Where are the opportunities?

How can we do better?

I’m a big fan of Jack Welch’s view of strategic planning. It’s just two questions and this discussion is a great time to ask your team to wrestle with them.

  1. What can our competition do within the next 18 months to nail us to the wall?
  2. What can we do to our competition within the next 18 months to nail them to the wall?

Your customer base is the business coin. It’s where the real value is in your business. There are two sides to that coin: the haves and the have nots. Get your team very clear on those and then turn people lose to evangelize it throughout your company. It’s time to take your business to a whole new level.

Be well. Do good. Grow great!

RC

About the author: Randy Cantrell is the founder of Bula Network, LLC – an executive leadership advisory company helping leaders leverage the power of others through peer advantage, online peer advisory groups. Interested in joining us? Visit ThePeerAdvantage.com