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Value in Strategic Planning | Extraordinary Business

Strategic Planning
So you have had your business for a number of years and you are successful for all intents and purposes. You have an excellent product, you have an active client base that purchases from you regularly. You know how and where to get new clients and how to keep the ones that you have.  Your team is pretty stable; you have a low turnover rate.
Question is: what is next?
 [···]

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Value in Strategic Planning | Extraordinary Business

So you have had your business for a number of years and you are successful for all intents and purposes. You have an excellent product, you have an active client base that purchases from you regularly. You know how and where to get new clients and how to keep the ones that you have.  Your team is pretty stable; you have a low turnover rate.

Question is: what is next?

 [···]

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Grow From Here to Success

How to make sure your business has everything it needs to grow

When I was a younger guy, whenever I would get a gadget, while I might have enjoyed it, I always thought about what the toy will be like in the future, perhaps with the same anticipation as many people have about the next generation of mobile technology. One of the things that always bothered me was the question of why things weren’t designed to be used with the next generation of products.

 [···]

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Fearless | Extraordinary Business

Noting your greatest fears and moving forward anyway.

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Starting a new company is not for the faint of heart. As a matter of fact, many entrepreneurs including myself could probably tell you many stories that might shake you to your core if you are unfamiliar with the landscape. The risks are high, there are many unknowns, the demands can be crushing and the work endless. But people do it every day…and many do it again.
 
An interesting quote by Malcolm McLaren, below, speaks of being fearless of failure.

 
What matters is this: Being fearless of failure arms you to break the rules. In doing so, you may change the culture and just possibly, for a moment, change life itself.

-Malcolm McLaren

 [···]

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Fearless | Extraordinary Business

Noting your greatest fears and moving forward anyway.

image

 

Starting a new company is not for the faint of heart. As a matter of fact, many entrepreneurs including myself could probably tell you many stories that might shake you to your core if you are unfamiliar with the landscape. The risks are high, there are many unknowns, the demands can be crushing and the work endless. But people do it every day…and many do it again.

 

An interesting quote by Malcolm McLaren, below, speaks of being fearless of failure.

 

What matters is this: Being fearless of failure arms you to break the rules. In doing so, you may change the culture and just possibly, for a moment, change life itself.

-Malcolm McLaren

 [···]

Read More

Stone Faced | Extraordinary Business

How to make sure that you are doing the things it takes to grow your company

Still fishing the same old way?Growing your company – or any business, requires change. But that change has to enable the company to move toward a specific goal. Beyond creating a strategic plan, doing more marketing, advertising, hiring great people, here are seven things that you have to do:

“But this is what we have always done!” is a comment that probably resonates with a lot of people. Especially those who have created processes and systems and invested a lot of time and energy into certain activities. Some might call it the “comfortable spot” while others might harbor on “what if change is wrong?”

Here’s the thing: there may be some things that do get you, as a business leader, the results you are looking for every time. Every day, your results are hit out of the ballpark and you couldn’t be more thrilled. But that doesn’t mean a) you shouldn’t evaluate it to see if it could be done better. or b) there aren’t other ways to accomplish the same thing faster, better and at a lower cost!

 [···]

Read More

Stone Faced | Extraordinary Business

How to make sure that you are doing the things it takes to grow your company

Still fishing the same old way?Growing your company – or any business, requires change. But that change has to enable the company to move toward a specific goal. Beyond creating a strategic plan, doing more marketing, advertising, hiring great people, here are seven things that you have to do:

“But this is what we have always done!” is a comment that probably resonates with a lot of people. Especially those who have created processes and systems and invested a lot of time and energy into certain activities. Some might call it the “comfortable spot” while others might harbor on “what if change is wrong?”

Here’s the thing: there may be some things that do get you, as a business leader, the results you are looking for every time. Every day, your results are hit out of the ballpark and you couldn’t be more thrilled. But that doesn’t mean a) you shouldn’t evaluate it to see if it could be done better. or b) there aren’t other ways to accomplish the same thing faster, better and at a lower cost!

 [···]

Read More

Two for Tea? | Extraordinary Business

Considerations for successful strategic partnerships

imageHave you ever noticed or read about companies such as Google, HP and Facebook and their ability to simply consumer smaller companies, seemingly for their technology or other resources? These acquisitions are often in the millions, if not billions of dollars. Oddly, in some cases, it doesn’t seem as though the parent company is much better off – which, unfortunately, is often the case.

The truth is, just like starting a business, most of the time when two companies merge, under whatever circumstances, neither company is better off as a result. Inc. Magazine reports in an article that a third of Google’s acquisitions have failed. Forbes reports about the failure of HP’s recent acquisition of Autonomy; one would think that a company of this size, achieving its status through acquisitions, would have expertise with the process, as Cisco Systems has demonstrated.

As a business leader, you probably realize that there are two ways to expand your capabilities in the marketplace – grow it at home or go fishing for it. While growing it at home will ensure that the product conforms to the way that your company operates, a company that is already delivering the solution may be appealing because they typically have expertise in delivery and a market that they are selling to.

A strategic partnership – in its true sense – allows your company and your strategic partner to benefit from a shared vision to deliver a product (service) to the marketplace that combines both of your expertise. It would be like a private school working with an internet broadcasting company to offer online home school. Both companies would benefit s a result of the partnership. [···]

Read More

Two for Tea? | Extraordinary Business

Considerations for successful strategic partnerships

imageHave you ever noticed or read about companies such as Google, HP and Facebook and their ability to simply consumer smaller companies, seemingly for their technology or other resources? These acquisitions are often in the millions, if not billions of dollars. Oddly, in some cases, it doesn’t seem as though the parent company is much better off – which, unfortunately, is often the case.
The truth is, just like starting a business, most of the time when two companies merge, under whatever circumstances, neither company is better off as a result. Inc. Magazine reports in an article that a third of Google’s acquisitions have failed. Forbes reports about the failure of HP’s recent acquisition of Autonomy; one would think that a company of this size, achieving its status through acquisitions, would have expertise with the process, as Cisco Systems has demonstrated.
As a business leader, you probably realize that there are two ways to expand your capabilities in the marketplace – grow it at home or go fishing for it. While growing it at home will ensure that the product conforms to the way that your company operates, a company that is already delivering the solution may be appealing because they typically have expertise in delivery and a market that they are selling to.
A strategic partnership – in its true sense – allows your company and your strategic partner to benefit from a shared vision to deliver a product (service) to the marketplace that combines both of your expertise. It would be like a private school working with an internet broadcasting company to offer online home school. Both companies would benefit s a result of the partnership. [···]

Read More