How did you go bankrupt?
Two ways: gradually, then suddenly.
Ernest Hemingway has been both heralded and derided: spectacular author and committed hedonist. In that quote, from ‘The Sun Also Rises’, he summed up the SME’s biggest fear.
The curse of the business owner
It’s odd, but while there might be no real sense of speed or panic, a change in condition can have a surreal pace and the impact is often gradual – until it’s sudden.
If you’re an owner/operator and have grown a business from nothing, I’ll guarantee you’ve known the dropping feeling when you’re going to struggle for the next mortgage payment, or the payroll is going short.
Try to think back to yesterday – there’s every chance it wasn’t that different from today. But think about how things look since last year: the new car, the house move, the graduation, the new office / partner / customer… Most of these events weren’t sudden. Some were planned for, and some forecast, but they weren’t sudden.
Innovation isn’t urgent
Innovation has a similar velocity. Innovation shouldn’t be urgent: it’s a controlled process of thoughtful decision-making that has long-term impact.
The effect of having an innovation plan is that you can significantly alter the business path for years to come. And when you know what you want to achieve, you will know what to do next, today.
If things change, like a new competitor, or market deflation, or changes in regulation, switching direction is a simple matter of course correction.
The challenge this presents is that now is when you know the least about the future; so, too often, you struggle to know where to place your trust.
And inertia sets in. Nothing changes. And gradually you head into a corner.
And suddenly there is nowhere to go.
And the question comes to mind: how did you go bankrupt? Two ways: gradually, then suddenly.
Steady effort, energy and tenacity
Planning for a future that has no absolute specification needs a different approach. This is what room44 helps you to do. We read the signs; we build possible scenarios; we collaborate with your team and test the product ideas that might work. We work together to create a plan and we’ll stick with you over time to keep that plan on track, and maintain awareness of what’s going on around you.
Future-proofing your business takes steady effort, energy and tenacity. It takes ambition and imagination. It isn’t helped by being reactive and urgent. Make time. Take your time and get it right.
In terms of the market you work in, radical change is happening now. Even if this change is gradual, it’s unceasing. This simple insight justifies constant review. Review and challenge are essential to keep your actions relevant to today, next month and next year.
Are you ready to innovate?
Are you ready to talk?
Click here and I’ll call you back.