Breaking Through the Ceiling: Reshaping Your Business Model for Growth
The following post was originally published by Printing Impressions. To read more of their content, subscribe to their newsletter, Today on PIWorld.
Business leaders have to contend with a broad range of issues each and every day. While some can be delegated at the next group meeting, others require the care and feeding that only the top person can provide. One key issue is the overall direction of the business or the re-shaping of the business model. If you feel that you’ve hit that ceiling of complexity, that no matter what you try you aren’t progressing as you’d like, it might be time to re-shape the business model so that you don’t stall out.
As rapidly changing customer expectations and accelerated technology are unseating the “this is the way we’ve always done it” thinking, it’s no surprise that we see a performance chasm between those that embrace these changes and those that are struggling with them. You can see it with the people in your business, as well as with competitors in your marketplace. Spoiler alert - your customers see it as well. The leaders have taken a que from Prince and his Super Bowl performance when he said, “make it rain harder.” Like Prince, they took adversity and used it to fuel their performance.
As there is no silver bullet, what’s the action item? It depends on where you are on the performance spectrum. Begin by dissecting the problem and asking what stands in your way of better performance. Break it down by revenue generation, client facing concerns, financial discipline, technology, people, accountability, predictable execution and finally, process and procedures. My suspicion is that you’ll be able to identify the key roadblocks that are preventing you from moving forward and making progress.
There’s no magic here. Make the list and begin identifying how you can overcome these individual impediments. As you would if you were going to eat an elephant, take one bite at a time.
Make the plunge and do a deep dive into your unique circumstance. Make sure to include the views from the many stakeholders in your business – employees, customers, owners and shareholders, and suppliers. Until that part is done, it’s really tough to chart a path forward because you really don’t have a good baseline to start with. And please, don’t come back with the “we’re just one good sales rep away from making things better.” While increased revenue certainly helps, it can also mask the symptoms generated from the sales prevention departments, processes, and people that you might have on board.
While I continue to say that this is a tough business, standing still and watching the world go by isn’t an option either. These are some thoughts and observations that I’ve been accumulating over the last couple of months so if you have any comments or questions about tackling a stalled engine in your organization, I’d like to hear from you.
Mike Philie can help validate what’s working and what may need to change in your business. Changing the trajectory of a business is difficult to do while simultaneously operating the core competencies. Mike provides strategy and insight to owners and CEOs in the Graphic Communications Industry by providing direct and realistic advice, not being afraid to voice the unpopular opinion and helping leaders navigate change through a common sense and practical approach. Learn more at www.philiegroup.com, LinkedIn or email at mphilie@philiegroup.com.
Mike Philie leverages his 28 years of direct industry experience in sales, sales management and executive leadership to share what’s working for companies today and how to safely transform your business. Since 2007, he has been providing consulting services to privately held printing and mailing companies across North America.
Mike provides strategy and insight to owners and CEOs in the graphic communications industry by providing direct and realistic assessments, not being afraid to voice the unpopular opinion, and helping leaders navigate change through a common sense and practical approach.
