No Evolution Without Change
How to ensure a growing business continues on that path
In any business environment, it's not the big that eats the small, it’s the fast that eats the slow. In categories like technology, the cadence of change is hyper-paced, and the only constant is change itself. But how can a traditionally slow and resistant organization, build agility, speed, and an ethos of enthusiastic transformation? With perfection being the greatest enemy of innovation, new skills, and learning are common gaps that require filling. Here are the proficiencies necessary to create a cycle of continuous business evolution that brings strategic execution full circle:
Foster a culture of collaboration: Creating a work environment that encourages collaboration and creativity is foundational and only happens when teams are rewarded for sharing ideas. Collaboration is key for stakeholders to fully communicate the current business condition and unify around a common redirection.
Evaluate and learn: Nothing is more effective for understanding what worked and what didn’t than evaluating results and learning from those experiences. From these insights, it becomes clear where improvements and changes to your strategies and tactics are needed.
Identify opportunities and outages: Identify new markets, technologies, and customer needs that can be addressed with innovative solutions. This requires keeping up with industry trends, conducting market research, and gathering feedback from customers or end users. At the same time, any shortfalls in capacity, competence, or other resources need to be called out.
Brainstorm and ideate: Once you have identified opportunities and outages, brainstorm and ideate potential solutions. Involve your team in the process and encourage them to collaborate, build new scenarios, and innovate. Consider different influences, approaches, technologies, and business models.
Test and validate: Test and validate your ideas through prototyping and experimentation. This will help you identify potential flaws or areas for improvement. Use customer feedback and data to refine your ideas. This phase should be fast-paced and should not have any intention of achieving perfection. It’s where you have the space to fail but, do so quickly. That pace many times parallels the business's ability to pivot and adjust.
Implement and iterate: Implement your ideas and iterate based on customer feedback and data. Use an agile approach to quickly pivot and adjust your strategies as needed. This will help you stay ahead of the competition and adapt to changing market conditions. As with any effective implementation, measuring vital points of execution is foundational.
Previously we explored Engagement, Education, Engineering, and Execution as part of the 5e Lean Execution Model. Evolution isn’t a conclusion or final stage, it’s actually the beginning or restart of the entire process. It ensures there's a constant state of change. By including these skills in your strategy, you’ll create that continuous cycle to ensure your business stays competitive, focused on improvement, and grows through meeting the needs of a changing market. It's important to foster a culture of evolution, build agility, and create the confidence to take the calculated risks needed to innovate. For additional information or support with creating a 5e strategic approach and culture, contact me at Brand Fuel Solutions.