CHAOS BRINGS OPPORTUNITY

In 1987 (almost 30 years ago) Tom Peters wrote in his book Thriving on Chaos “In 1987, and for the foreseeable future, there is no such thing as a “solid” or even substantial lead over one’s competitors. Too much is changing for anyone to be complacent.
In today’s business environment change is the only constant, and many small businesses try to push change under a basket and pretend it isn’t happening. The survivors in today’s market embrace constant change by providing constant improvement. Effective self-leadership, a clear vision and strong values are necessary for continued growth.

A small business has to revisit its strategy continually, with the focus on delivering increased value to the customer.

So where does the opportunity come in? Chaos presents challenges and it forces a small business owner to review the four pillars necessary for sustainability and growth in a business:

•   Marketing: How are you reaching your target market, and more important, how does the target market want to be contacted in light of new technological advance.
•   Products/services: Are your current and future customers looking for something different in the products and services you provide?
•   Internal operations: Change always requires a review of the internal operations of a business. Most time wasters in a small business are caused by a lack of efficient internal operations. Chaos may have a detrimental effect on internal operations; an update review is always recommended.
•   Financial: Change usually requires a financial adjustment in a business. New equipment and new software, along with unexpected costs in marketing changes in products/services may add an unexpected strain of finances.

BizQuack recommends a mini review of your four pillars every four months. This will allow time to anticipate and plan for future chaos.

“In the midst of chaos, there is also opportunity.”  Sun Tzu