Start with these seven questions
A big component of designing successful strategies must include the ability to predict the future, hence the numerous articles, research and studies at year-end that usually attempt to list the key business trends and how to leverage the changes that will most likely transform the business arena.
As a consultant to entrepreneurs and business executives I believe that it is not only important to identify the key top trends affecting, business, politics, culture, society and our world in general, but it is necessary to pinpoint the ones that will have a significant effect on myr clients’ performance and overall success.
Recognising the changes that are positive and the ones that could be negative or threatening to my clients’ success can help update the existing strategies and tactics to stay ahead. Clients need help to focus on the key changes and avoid the traps of distractions caused by the “clutter of abundant information” which cause many to miss seeing the forest for the trees.
One of the most exciting parts of my work is when I can help clients formulate the transformational strategies and tactics that highlight the real opportunities that will support business success and competitive advantages. All businesses have limited resources and the speed of change today requires making the right choices rapidly. As the famous quote that says “doing things right is not the problem, knowing what is right is the key”... and I add the need to execute with excellence.
Mapping the right course in the midst of changes and uncertainty is not easy. Today’s fast speed of change is a major challenge. Take the impact of AI, increased governmental regulations, high interest rates, environmental concerns and a long list of other challenges require doing the right homework, formulating the right strategies and executing with excellence, speed and discipline.
Here is my short list of seven questions that should help you evaluate the key market dynamics and update your strategies and tactics ...
- Is AI (artificial intelligence) an opportunity or a risk for my business?
- Are Global Trade predictions positive or negative for my supply chain needs?
- What are my Clients/Customers changing needs and preferences? Are the changes positive?
- Am I helping my Employees as they seek better life work balance?
(Training - Career planning – Promotions – Benefits - Balance between office presence and working from home – overtime etc.) - What new Government laws and regulations changes can disturb or help my business?
- How are my Capital requirements affected by interest rates trends?
- What is happening on the competitive landscape in terms of opportunities and threats?
These seven questions may appear simple at first glance but answering them is not easy. They should however help you update your existing strategies and tactics to better position your business for healthy growth in 2025 and beyond.
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