Reinventing business – why is it important? Why do you need to think about it often, even right now when things appear to be going well?
As it turns out your willingness to consider reinventing your company on an ongoing basis is crucial for your longer-term excellence and even survival in business.
If you wait too long with examining options to modernize, improve and optimize, it may be too late by the time you notice the need for reinventing your business. Don’t wait until something is obviously broken. Get frequent and timely fresh perspectives.
You may not realize that
- Your company has outgrown its procedures for hiring new staff. By the time you find out you may have costly problems on your hands.
- Your company needs to clearly (re)define which roles it really needs today and the near future – and which functions each role entails
- Top leadership is perceived to step in every time something happens, even though middle-level managers have official responsibility for many of these instances. Consequently, the emergence of new strong leaders is suffering and the thought of having to one-day implement leader succession sounds terrifying.
- Your sales department hunts after every potential deal – and spends loads of time and money bidding on hopeless jobs
- Gossip is common in your company and everyone assumes that their thought processes are right on the mark.
- Technical experts who have been given more leadership responsibility as part of their career progression are having a hard time – and the lack of their leadership training shows up as frustration and resistance within their teams
- Your products or services may get outdated or your competition is catching up to you fast
Sitting on your past successes is dangerous.
The bottom line is (no pun intended): Don’t wait with getting a fresh perspective on reinventing business until something is obviously broken. Do it often and keep an open mind.
Listen to our new radio ad and learn more what Harvard Business Review says about your chances of recovery if you don’t reinvent your business before it is too late.