Strategy

11th September 2014

Won’t Get Fooled Again

Hi,

Team Massive Result’s Thursday’s Thoughts

Please enjoy ‘Won’t Get Fooled Again’ by Ian Kinnery

Last week I was in London and I was amazed by the amount of building and construction work that is going on.
The good news is that this is a sure sign that the economy is on the turn and that we are finally and thankfully starting to emerge from what has probably been the worst and deepest recession the world has ever seen.
I am delighted that things are improving and at the risk of sounding like a total curmudgeon I feel compelled to give voice to some words of caution in the hope that as business owners and business leaders we won’t get fooled again as The Who famously said.
In 2008 an article in Criticaleye said, “The rules for creating a successful business haven’t changed since the crash of 2008, it’s just become a lot harder to get away with running a company badly.” The pressure that most businesses have been under for the last few years has emanated from two fundamental causes. One is the Global Crash, which was largely beyond any businessperson’s ability to influence, and the second concerns the rapidly changing business landscape.
The crash was the mother of all reality checks. If our business model and working practices had weaknesses the crash would find them and probably render them terminal. We cannot afford to let seven years of continuous growth, which we had before 2008, fool us into taking our position for granted in future.
Largely as a result of the internet it is possible for anyone to sell anything to anyone anywhere, which presents a great opportunity for the thrusting, internet savvy, agile, emerging and growing company but can also sound the death knell for those businesses that are less so.
Professor Neil Rackham makes the following three points from his research into the current business landscape.

  1. The average company has more than twice as many competitors as it had five years ago
  2. So, statistically, the market share of the average company has been cut in half
  3. Customers today can access more than 20 times as much data about you and your competitors than they could five years ago.

Running a business badly is still just as possible as it ever was but running a business badly and expecting to survive let alone to thrive is a long shot.
It is no longer enough to have a great product, or great pricing, or great service or a great team or a great business model. In the 21st century, businesses and organisations of all sizes have to have all of the above and more.
This places a huge demand upon the leadership of those businesses to be up to the mark, each day and every day. The good news is that this is something that we can do something about. We can learn, we can develop, and we can get better.
As a certified Gazelles coach I start every session that I do for the leadership teams of high growth businesses with the following mantra.

“Every morning in Africa a gazelle wakes up. It knows it must outrun the fastest lion or it will be killed. Every morning a lion wakes up and knows it must outrun the slowest gazelle or it will starve to death. It doesn’t matter whether you are a lion or a gazelle, when the sun comes up you had better be running.”

So here’s the thing. Look around you. Look at your competition and whether you think you are a lion or a gazelle ask yourself “if I don’t take steps to improve, how long will it be before I am the slowest?”

September 1st saw our first of our Autumn season of Business Growth Masterclasses, with over 50 attendees we are pleased to announce the next Free Masterclass on 7th October 2014.  To enroll on the “Massive Results Masterclass” to see how to engineer the Massive Results you want and to learn how to radically grow your profits click here.
Not only is it free but I guarantee you will come away with more ideas than you arrived with any one of which is capable of transforming your business.

To read more ‘Thursdays Thoughts’ by Ian Kinnery and many other blogs please visit our website