As a business owner, you may currently be experiencing success or have enjoyed much success in the past. But what happens when the results start dipping, KPIs aren’t being met and your successful formula no longer seems to be working?
The short answer is, past results do not guarantee future success.
In business, the environment is constantly changing. People get better and technology progresses all the time. If we don’t progress ourselves, effectively we are going backwards. To guarantee success we need to develop at least at the same rate as our competitors.
Ask yourself these questions:
- Do you have 30 – 40 year experience in business? Or, do you have 1 years experience, which you have photocopied 30- 40 times?
- Are you learning, growing and modifying what you are doing to make sure you experience continued success?
Many hit on a successful formula and continue to repeat it, without ever checking that it is the best way to do the task at hand. As conditions change, you will be unable to adapt to the new circumstances and performance will suffer.
Similarly, you may ‘hit the glass ceiling’ and can’t understand why your once successful formula is no longer working. As Ray Moore discusses in his best-selling book ‘Can Your Business Step Up to the Growth Challenge?’ it’s important to stop, reflect and review what you have done before, then modify your actions going forward.
Take time to truly understand what you do. By harnessing this understanding you can leverage your experience. Consistently replicate excellent performance no matter what the state of the market or trading conditions.
Understand that what got you here won’t necessarily get you to where you want to go. Push your comfort zone, question your beliefs and develop yourself both personally and professionally.
And lastly, surround yourself with the best people you can – both internally in the business and externally. Do not fear others expertise, but welcome the chance to grow yourself and your business.
Marshall Goldsmith has written on this subject in his book ‘What Got You Here Won’t Get You There’.
Listen to Andy Sleet and Hugo Heij discuss this in more detail below: