It Matters Friday-Put Yourself Out of Business Before Your Competition Does

October 4, 2019

 

In a evolving and highly competitive world, in order to be successful in the long run, business owners and/or executive leadership should be looking for ways to constantly disrupt themselves in other words look to put themselves out of business because someone else eventually will.

 

Disruptions are happening more often as technology, demographics, social norms, and more are constantly changing. Think of what Amazon has done with expectations of delivery and convenience and how that has affect many businesses who were sleeping at the wheel or how Netflix has brought about the change of how media is consumed on our own time which has led to more streaming services and lack of regular tv viewership.

 

In order to continuously evolve and not rest on your laurels basking in your current success, start with the basic question of what needs to be done and how do you do it?

 

For starters take a step back and observe your business. Take notes on how your team interacts, daily tasks are executed, customer needs are met or unmet, etc. 

 

On top of that, take adequate time to listen to all stakeholders of your business to gain valuable insight into how your business doing now, challenges, shortcomings, what you do best, what you could do better, and who should your business become going forward.

 

Taking this insight and executing is often the hardest part because now your about to bring about change and who likes change when things are going great.

 

Consider rolling out changes in small increments then observe and listen to the feedback regarding these changes and continue to make adjustments. Change will never be easy especially if there’s a need to change culture and mindsets in order to improve.

 

Most importantly never let short term gains distract from the necessary long term goals or visions as you seek to disrupt yourself.

 

In order for your business to have a long runway, you have to continuously look to not only keep up what your doing now but also make changes to become even more in the future because there are few constant truths in life and one of them is change is inevitable.

 

So if you aren't looking for ways to change, innovate, disrupt, and put yourself out of business, then believe me that your current competitors, businesses that aren't even on your radar, or haven't been created yet are looking to do it for you.

 

Disrupt - Innovate - Change or Become Extinct

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