These techniques, however, aren't a once and done set of steps. It is a set of ongoing activities, which requires constant monitoring of the horizon - or things that could occur in the future that would affect your business. The idea is to be able to plan, now for what might happen down the road.

As she notes in the article, it is important to work with others on your team with this. Getting more than one perspective will help you create a much wider range of observations, thoughts, ideas and scenarios. Additionally, you will benefit from having everyone involved in the process - ideally, the whole organization, connected and committed to contributing on an ongoing basis.

To implement this into your organization, you might try some or all of the following:

1. Schedule meetings to occur on a regular basis.  This could be weekly, monthly - no more than quarterly.
2. In the interim, prepare some type of discussion board your team can access to put their observations and any articles associated with it.
3. Create a framework:  Describe the area you wish to target (restaurants trends in Atlanta, for example) types of information you are looking for, where they might find the information, what qualifies as good information and things that might impact the target - politics, society, the economy, technology and the market or industry)
4. At your meetings, based on the information gathered, you will want to talk about changes that could occur as a result of the information you've gathered.  While no idea is thrown out - some you will be able to completely rule out, there will be some ideas or scenarios that are more likely to occur.  Those, you will want to circle.
5. Out of those ideas, decide which ones you want to happen - three is a good number to work with.  As you do your strategic planning, these are some of the scenarios you will want to make plans for.
6. Out of the remainder of ideas, there are some that could upset your business - greater tax burden, entrants that could narrow your market, etc.  These are areas that you need to take protective stances against.  This may mean changing your financial strategy or targeting a narrower market whose needs you can uniquely address.

While this is an overview of what you might do for and with your organization, you'll want to adopt some type of ongoing strategic planning/innovation strategy to ensure that you remain agile in the marketplace.  Ability to change directions and adapt to market changes will make you a long-term player in the marketplace, able to weather the storms and emerge victoriously.

Labels: Business Decisions, Business Growth Strategies, Business Process, Business Strategy, Recession Buster, Strategic Foresight

Labels: Business Decisions, Business Strategy, Small Business Taxes

The folks at GM were thinking about what the future will look like.  Ever consider why?  Ever consider why Disney spent so much time and money creating "The World of Tomorrow" display?

One major reason was to create hope.  They were trying to give Americans and the rest of the world something exciting to look forward to.

Inspiration.  By creating this vision of the future, they helped to encourage inventors and engineers to create what might be.

Marketing.  They wanted people to know that they were thinking about the future, and their place in it.

Just like them, in your small business, you need to be thinking about the future, and how your business will fit into it.  Consider, for a moment, if you are a marketing firm that has been at the top of your market for years, doing what you do.  If you don't adapt to new technologies, you won't remain viable in the marketplace.  Your market share will dwindle.

On the other side of the coin, though, if you help to create the future - you impact future thinking, you will increase your market share.  Quick example.  Intel.  Nobody thought there would be any use for a Microprocessor.  Ever.  Enough said.

A company that didn't predict the future - International Business Machines.  They never believed that the personal computer would be viable.

Where is your industry going?  How does the economy effect your business?  What opportunities will you be able to take advantage of once the recession is over?  What emerging technologies/fads/methods will impact your business?  Can you become a virtual company?  Could you/should you be competing on a global level?

Your business needs to invest in itself to answer those questions, for the very same reasons Disney and GM did.  Hope.  Inspiration and Marketing.  Own the future.

Labels: Business Development Strategies, Business Growth Strategies, Business Path, Business Strategy, Management and Leadership, Recession Buster, Strategic Foresight

Win or lose, succeed or fail, you are living the American Dream.  You've tied your shingle to the door, set your pencil and your pad on your desk, got your trust phone out and are in business.

But what does this mean?

It is an awesome social responsibility, and you have to do your part.  Sure many people think that it is all about them.  Adam Smith in "the Wealth of Nations," states,

"It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages."

Basically this is saying, "everything I do in my business is for my benefit."

Is this your mentality?  Do you want to gobble up the marketplace, get all you can, take away from others and leave homeless, crying babies in your wake?  Sounds villainous to me.

When you consider only your own well-being, everyone tends to lose.  Look at the collapse of the US economy, and economies around the world.  Do you think that it was the result of selfless heroic acts?  I think not.

Look at the race for President.  Do you see the US disdain and distrust for those using a negative, smear campaign to attempt to accomplish their mission?  You could never trust people who use those tactics; they will turn around and use them on you.

In your business, I promise you,

"you will reap what you sow, later than you sow, more than you sow," to quote Dr. Charles Stanley.  So consider the following:

• If you are good to people, offer them a good product at a good price, they will trust and be committed to you
• If you say what you'll do and do what you say, people will trust and depend on you
• If you are clear with your intentions - your mission, vision, values and principles, people will respect them
• If you serve and guard your niche, consistently, with a focus on their best interests, they will return the favor
• If you cut corners, serve substandard products and over charge, your customers are only borrowed
• If you try to "sell" your customers every time you see them, you won't see them
• If you offer one thing and try to sell them something else, you might get them once, but never again
• If you aren't clear with your intentions and beliefs, you will suffer and you won't last.

Be a hero.  The world needs us.

Labels: Business Decisions, Business Path, Extraordinary, Management and Leadership, Transparency

The article shares several historical studies that show that under Democratic Leadership, the economy has faired better, consistently.  The Gross Domestic Product has grown each year, the stock market performed better, individual incomes increased and annual federal spending decreased each year the nation was lead by a Democrat.  Conversely, Republicans tended to decrease taxes on the rich, and showed lower overall economic growth.  Prior to election years, the Republicans were able to show great financial gains and controls, then return to less fiscally and nationally inclusive policies once they won the election.

Looking at the situation, I have to wonder, based on history, why would I vote Republican.  It is like surfing in shark infested waters.  People do.  I just don't know how much sense it makes.

I think that many IT pros will say, "yes, it will make your life better," while other business owners will tell you, "it's easier to do it on pen and paper.  The computer is always breaking down."

Well, both of these are true.  More than likely, your computer will allow you to do all kinds of things much faster, and in a bigger way.  The mere fact you can read this article is a testament to that.

However, like anything else, you've got to maintain your system, be it you laptop, your server, your smart phone or your email systems.  There is no reason to expect that these things won't break down.  It would be quite unwise to not have a plan for when the systems do break down.

What it comes down to is simple: if you are not an IT pro, you'll want to work with two people: 1- a management consultant like myself who will help you evaluate your entire business and strategies to help you choose the best technologies for your organization, and 2 - an IT consultant who can work with you to make your final decision, with the goal of getting the best solution for your organization, help you learn how to use the system and help you choose a maintenance program that makes sense.

In most cases, there is no need to over-purchase your IT solutions.  If you are a small business, you are probably not going to be the best candidate for SAP, a blade server system and a full-time tech person.  Your consultants should help you make the best decision.

Can you afford to hire two consultants?  Is it worth it?  Well, would it be worth wasting 10,000 on IT that is wrong for your organization that you cannot use?

Trust the professionals.  Welcome to the 21st Century.

"The man who does things makes mistakes, but he never makes the biggest mistake of all-doing nothing. " ~Benjamin Franklin

Labels: Business Growth Strategies, Process Improvement

Does this mean Senator McCain is less capable then Senator Obama?  Not actually.  But what does this say about his character, and that of the Republican Party?  A "win at all costs" mentality could result in 305,461,482 losers (.t the time of publishing).

No one exists in a bubble.  As a business owner, you cannot expect to go around the community tearing down other business, customers and employees, and expect to achieve your full potential If you are a small business owner, and you act without character and integrity, your business will more-than-likely fail.  I have seen it over and over and over again.  I have seen the same business owner fail over and over and over again.

You've got to take care of the people, business and communities that take care of you.  That doesn't mean that you wait for them to do something - it is not a self-serving activity.  You make the first steps without seeking your own objectives.  You compete, but you do so with honor, character and integrity.

As my friend Robert Rosner would say, be a "Friend for Life."

Labels: Business Decisions, Business Path, Business Strategy, Extraordinary, Management and Leadership, Rant, Recession Buster

On the other hand, there will be lots of businesses that are going to thrive.  They are finding new opportunities, partnering with other businesses and finding ways to move forward.

Where are you, and what will make the difference?  Is it time to sit down and review those processes and systems? If you need to cut costs, do you know where those costs are?

Think about how you might cut costs without compromising the integrity of your organization.  That means that you don't cut marketing, training, insurance, etc.  You cut out the gourmet coffee service, the gourmet lunches and other luxuries.  Take a look at your organization's want/need matrix.  If you don't have one, do it now.

Lastly, evaluate your organization's SWOT.  Identify some new opportunities.  Maybe, by taking your company virtual, you can increase some efficiencies and cut some costs.  If you switched from land line service to VOIP and mobile services, could you still offer the same great quality products and services your clients come to expect from you?  Maybe there is a struggling organization that would expand your organization's capabilities or capacities at some great efficiencies.

Remember - this is business.  The immutable law of business is just when you think you understand the situation, the situation changes.

Labels: Business Decisions, Business Growth Strategies, Business Process, Business Strategy, Cloud Computing, Mobile Office, Recession Buster

Labels: Business Development Strategies, Business Growth Strategies, Sales, Sales Strategies, Small Business News