9 Keys to Business Reinvention
Posted on March 26, 2009
Here are some notes from the March 26th RYB (Reinventing Your Business) Workshop.
I have to thank Eric Beck of Beck Consulting and my hard-working, think-tanking studs (aka the participants) for completing much of this picture. It was a great event!
9 KEYS TO BUSINESS REINVENTION
- You must build your business around your true asset. Your true asset is worth (a) discovering, (b) rediscovering, (c) magnifying, and (d) leveraging to provide value.
- Currencies change. Governments get overthrown. Wars rage. But value never goes away. People will always pay for it.
- Cash Follows Clarity. The clearer your are on your true asset, the more cash you will get.
- Beginniner’s Mind. Mistakes are OK. Pain is the best teacher. Get moving. As Will Rogers said, ”Even if you’re on the right track, if you just sit there you’re going to get run over.”
- To discover your true asset: Everyone’s reinvention is different, but it has to do with leveraging the knowledge, trust, & opinions of your best customers
- Every one of you is smart, savvy, and an expert. This may help you to reinvent. But relying on the KNOWN (the standards, the conventional) ain’t gonna cut it. Create a Blue Ocean by tapping into what you don’t know you don’t know. If you forget how to do that, may I please refer you to item #5? Be like Madonna . . . um, in a reinventive way.
- Commit to a regimen of Disciplined Lunacy - confound your competition. Make them wonder in a fit of rage, ”How the #*$*&@# did they DO that?” (See Oren Harari’s “Break From The Pack” for more about this: www.BreakFromThePack.com)
- Business Reinvention is a process. You can’t (a) run a marathon, or (b) reinvent your business tomorrow. Give it time.
- The bottom line: A BUSINESS BUILT AROUND VALUE AND YOUR TRUE ASSET (YOUR IDENTITY) HAS ZERO COMPETITION. IT IS A BLUE OCEAN. YOU CANNOT LOSE. IT CANNOT BE STOPPED.
