Is your mindset costing you money?
Are you paralyzed by fear?
Are you aware of how consumer behavior has evolved?
Is the company relying solely on attitudes of the past?
Being stuck can lead to lost revenue. Owners can be lulled into an old mindset because it takes effort to learn a new skill. Complacency is also a place of comfort. Comfort puts people on autopilot. Choosing not to invest in new technology, employee training or updated systems can lead to lost revenue. Being stuck will contribute to less efficiency in an evolving marketplace.
When was the last time successful behaviors & competencies were defined for the team?
Leveraging a
diverse
mindset is not just about people and teams. Leaders must widen their perspectives to see how the “cheese is moving”. Years ago I read the popular book, “Who Moved My Cheese? This book is authored by Spencer Johnson, M.D. The characters in the book faced unexpected change. One of the fictional characters deals with it successfully the other does not. As organizations evolve, it leads to new places. Dynamic change requires leaders to challenge their assumptions.
Real Time Example:
I was speaking with a business owner that just finished a sales proposal conversation with a prospective client. This leader quickly made an assumption that the prospect on the other end of the phone would not be able to afford the company services. Because of this, the owner mentally shifts focus. This assumption (prospect can’t afford my services) led the conversation down a completely different path. The mindset of scarcity took over.
No one can see or observe the mental shift happening on the other end of the phone. This scarcity mindset became an intruder in the owner’s mind. The conversation finishes. In spite of hesitation the closing sales pitch is made. The prospective client accepts the offer. The assumption made by the owner at the beginning of the call was wrong.
Not being willing to challenge assumptions can lead companies to lose
revenue.
What if the business owner decided not to accept the call assuming it would be a waste of time?
Reflect on your sales process:
What are the assumptions you make when pitching a proposal to a client?
What assumptions do you make when a prospective client walks in your store?
What assumptions do you make when you are in a networking group?
The same old routines do not always work. The world keeps changing. Pay close attention to financial metrics. Leaders can be slow to adapt to change when they dismiss the need to consistently analyze their sales performance & key performance indicators.
Consistently analyzing changes in sales, services, marketing ROI, expenses, or customer desires can signal when larger changes are on the horizon.
From a people perspective, conduct an internal audit on hiring, promotion and retention data. Position yourself to notice small changes early. Keep expenses tight to remain nimble in a volatile marketplace.
Has my workplace culture shifted as my company has grown?
Owners can spend money on recruiting and sourcing talent but what type of workplace culture are the new hires entering? If there is not a cultural awareness then the hiring boost can lead to future turnover because of the negative impact of a toxic workplace culture. This is costly and disruptive.
A Few Questions To Ask:
How is the company assessing employee performance?
Are there quantitative and qualitative objective performance benchmarks?
Are there clearly defined competencies & examples of successful behaviors? OR
Is the company leaning more to subjective performance assessments?
**When performance reviews become subjective, a company opens themselves up to biased evaluations.
Handwriting On The Wall
Change Happens
Anticipate Change
Monitor Change
Adapt To Change Quickly
Remain Nimble
Change
Enjoy The Change
Be aware: Just when you figure out the changing evolving landscape guess what, it will change again. Consistently challenging old assumptions allows leaders to see a situation with fresh eyes. Keep an agile mindset.
Let go of old mindsets and give space for the new. The pandemic accelerated change now embrace it. Because in business change is the only constant.
Keep asking questions.
Remain curious.
Stop trying to maintain the status quo.
If you find a leader replying, “we’ve always done it this way” it is time to challenge that assumption.
Schedule a discovery call with
DPI LLC.