Our world is changing faster every day
It is becoming more connected, networked, leveraged, customised, 'social', personalised and instant. There are greater choices, competition (direct and indirect), stimulation, noise and more possibilities. Getting customer attention is harder, and servicing their needs more complex. Brands are becoming more powerful, the brand landscape more complex, and customer churn can happen in a heart beat.
Some companies are becoming successful faster than ever, in some cases creating overnight millionaires. Predictably, those that aren’t embracing the changing nature of business are becoming irrelevant at an alarming rate.
We love the philosophy of former GE CEO Jack Welch; "when the rate of change outside your organisation is faster than the rate of change inside your organisation - then you have a problem"
The world is almost borderless. Capital, competition, customers, suppliers, innovation, production, marketing, strategic partners, resourcing and consumers can come from anywhere, at any time and in many forms.
Business was once dominated by the big and the resource rich, but the influence is shifting to the fast and the nimble. The control of people, products and distribution no longer guarantees a premium and a profit. Our economy has changed from one based on scarcity to an economy based on abundance. Networks are the new nett worth.
Two things are undeniably true: Change is inevitable. But growth is intentional.
And that leads to a critical question that every business owner should ask of themselves and their business. "How do we intend responding to our rapidly changing world and business environment?"
The way we see it there are only two choices (well, just one really). You can become a victim of change. Or you can use this unique moment in time as a powerful motivator and catalyst to innovate, invigorate and transform your businesses.
Where could your business be 3 Years Out from today?