Have you ever taken a moment to notice how nature’s elements around you change? For example, in the autumn leaves present various colorful tones and then fall off the trees if you live in a colder climate. In the spring, the leaves return lush and green. Some trees burst forth with beautiful floral blooms to announce spring. Or take a moment the next time you go into your clothes closet. Are you still wearing the same clothes, from head to toe, that you wore 20 years ago? Fabrics, styles and even the attitude towards daily work attire has changed. Or what about the car you drive? Cars today have keyless entry and keyless engine start – essentially the vehicle is a software platform that gets you to/from work every day. A very long way from Henry Ford’s Model T. Everything changes including business. As a CEO, president or business owner, regardless of how long you’ve been in business, every day think about how you can reinvent your business but still maintain its core for MORE success.
Before this article talks more about why it’s important to reinvent your business yet at the same time maintain its core principles and fundamentals…
What about you?
- Have you thought about the changes that have taken place in your life?
- Who were you at 20 years old?
- What were you thinking about at that age?
- What about at age 30?
- Were you thinking about having a family and/or buying a house? Were you trying to get ahead in your business career?
- Now move onto the next decades of your life depending on how old you are now. What was going on in your life at age 40?
- What was the focus at age 50 or 60 years old?
Every decade there are changes in your life – especially how you think about your life, the world and the business life you lead. Everything changes. Everything is in constant motion.
You are not who you were yesterday. You are not who you were last year. Most certainly, you are not who you were 10 years ago. Reflect on that for a moment. Not in a negative way but in a positive way. Throughout your life you have reinvented yourself, often without realizing it. But you are still essentially you. Why? Because it’s who you are at your core.
Defining The Core Of Your Business
Let’s take a moment to define the word, core, as it relates to your business. To state it simply, it’s the functional running of your business operations. It’s what brings in the annual company profit. Just as there are core elements as to who you are as an individual, so too with your business.
The core of your business is what makes the company unique – whether it’s your products and/or services, your company philosophy or mission statement, how you interact daily with employees and customers. These are the basics or the core of your business. The core defines the business no matter what else may change or shift within the business, the core always remains intact.
For business success, it’s important to remain true to the core of your business yet, at the same time, continually reinvent what needs to change.
Just as you change throughout your life, so does the life the business. Your business is not the same as when you started it. It’s not the same business it was a year ago. It is not the same business it was five or ten years ago, if you have been leading your company for that many years or more.
Everything is in motion all the time. Every business day as a CEO, president or business owner, you need to think about:
1) What is the same in the business
2) What is or has changed in the business
3) What is changing in the world
4) What is changing within the industry the business represents
Expect Changes In Your Business
The people you work with, either as employees or customers or vendors, are changing too. All the time it is a constant flow of change. The key is to be aware of what may be changing. Are the observed changes a plus or a minus to your business? That’s why every business day you need to think about how to reinvent your business to keep it relevant and prosperous.
But reinvention, regardless of it being a small or a large effort, must maintain the basic core values of the company. Just as you may have changed over the years, the values you received from your parents when growing up are likely still many of the values you hold today. The core of your business must be the same. It must maintain the understanding of what is the reason for you to be in business.
Remember: You are in business to make a profit.
The motivation to lead a company may be:
- You wanted to be your own boss
- You wanted to create something
- You wanted to do it better than other companies
- You wanted to make more money
- Have more work freedom
- There are a thousand different reasons why people go into business for themselves.
The key to success is to know what your values are and at the same time be willing to change with:
- The economy
- People, including customers and employees
- Marketing the business (this is a vastly changing segment of the marketplace)
When you think about it, it’s phenomenal the changes that have taken place over the past several years.
Change will continue to happen. Sometimes at a very rapid pace; and other times, slowly, till one day you realize something has changed, including something about yourself or your business.
If you are not paying attention to those changes along the way it is certain you will get left behind by the competition.
- Your core business
- Your core values
- Your core understanding
… but be willing to make whatever changes are necessary so you and the business can continue to be successful and profitable for many years.
To your success!
Business expert and strategist, Howard Lewinter, guides – focuses – advises CEOs, presidents and business owners throughout the United States across a wide range of industries, to MORE success – MORE profit – less stress. Business people trust Howard’s vast business knowledge, practical advice, intuitive insight and objective perspective to solve business problems and issues. Get MORE from your business! Talk business with Howard: 888-738-1855.
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