#3 of 3 Great Reasons why what Worked for you Before, isn’t Working Now.

rapid rise and descent of a business strategy

Your strategy was working great, then it stopped? Here’s three reasons why it may have stopped working

It was Working.

Now it’s not working.

Why?

It’s hard to continually grow success. With rare exceptions, the line to the top of the success platform is more often a series of “one step forward, two steps back, a side step, a loop de loop,” and then, finally, “up we go”. One of the most difficult things to come to terms with in both business and personal life is when something that had worked so well for you previously is now not only not working, but may actually be working against you.

So why isn’t it working?

Joined us in the middle? See Reason #1 and Reason #2

Reason #3. Your product is wearing the wrong clothes.

Your product/business/idea may be great, but it may be dressed in the wrong packaging for your intended audience. Now this isn’t usually the main driver, but can be why growth has stalled. What do “the wrong clothes” look like?

  • Your high tech/impulse purchase product isn’t optimized for mobile access, or you created a high tech mobile product for a “not very high tech” audience. You may have reached the saturation point for the people that recognized your product in the space it is in, but you may be missing a much larger market that is playing in another playground.
  • Your choice of market place isn’t reaching the maximum audience.  Are you a retail store? Are you in a indoor mall? How is your foot traffic vs the foot traffic at a strip center (and yes, it was a very different story 10 years ago)? Or maybe you’re a business website with a non-visual based business who is doing all your marketing over on Pinterest.  Blogging when your audience wants podcasts? It may not be that you’re located in a bad place, you just may not be located in the optimal place.
  • Your packaging doesn’t match what your audience’s expectations. Are you a luxury business with a pre-canned, pre-formatted word template for everything from invoices to your website that reeks of beginning Microsoft 101? Is your website loaded with “Coming soon” and a copyright date of 2011 running across the bottom?

 Well that’s just great, Jeanne. So what do I do now, Little Ms. Fix it?

Read our next article, Charging Back Uphill, Blasting out of a Stall. 

book by Jeanne Goldie

Speed Read an Organization with our Easy Guide

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3 Great Reasons why what worked for you Before isn’t working Now (Pt. 2)

 

rapid rise and descent of a business strategy

Your strategy was working great, then it stopped? Here’s three reasons why it may have stopped working.

It was Working.

Now it’s not working.

Why?

It’s hard to continually grow success. With rare exceptions, the line to the top of the success platform is more often a series of “one step forward, two steps back, a side step, a loop de loop,” and then, finally, “up we go”. One of the most difficult things to come to terms with in both business and personal life is when something that had worked so well for you previously is now not only not working, but may actually be working against you.

So why isn’t it working?

(Go Here if you missed Reason #1, “The ground under your feet changed”)

Reason# 2.  You mistook a one-hit wonder for permanent success.

Pet Rock? Business theory flavor of the month? You had a great run but suddenly its not working,  and now you’re stuck.  Hopefully if you intentionally produced a gimmicky app, product or snack food you knew it was going to be short lived and planned accordingly. But sometimes, you and your product are the beneficiary of lucky circumstances, timing or a specific moment in the market, which can create a false sense of a more permanent success.

Think of a musical group that has their song picked for the soundtrack of a hit movie. The song skyrockets to the top of the charts. Now it’s time for a follow up. Maybe it’s a winner, maybe they were the beneficiary of a moment in time. There will be a big difference in their future between living on the residuals of one mega hit vs owning the Rolling Stones catalog.

Notice I didn’t say that the musical group was any more or less talented or hardworking than any other musical group. Hard work and talent count but there are a lot of hard working and talented people out there and they’re not all giant successes.

In the business world, the markers of what made a particular set of circumstances unique often aren’t known until hindsight kicks in.  Years ago I worked in the non-profit arena where many large grants and funds were available due to a specific set of circumstances in the market (bank mergers coupled with mirroring a favored business theory of the then current government administration). The trend continued for nearly 5 years. If you began or started a non-profit in that space during that time, it was easy to raise funds and gain support, giving you a sense of success and a feeling that you “knew how things worked.” Except that was a moment in time, not replicated at any point for the next 11 years.

Were you attached to a popular business theory that “ran its course?” In the past few years we’ve had “The Secret”,”Get Rich Quick” schemes,  and a host of other short term mega hits. If your work is closely attached to a theory that is now discredited or fallen out of favor, even if your work is sound, you will need to repackage it and rebuild success based on a new foundation.

You may have even been the cute new “upstart” in a business sector, and now you’re the “middle-aged” stalled out player, not venerable enough to be one of the “big boys” you ran circles around when you started, and not youthful enough to be as nimble as new market entrants. Many of the “dot-com” wonders of the early 2000’s are facing this dilemma now. Your growth rate no longer thrills Wall Street, because it’s hard to match the early years of phenomenal growth, and the “new market” players may have more immediate upside potential. And the old boys either went under or figured out how to address the threat you made to their market share all those years ago. You’re in the middle, and need to regroup.

Our next article: Reason #3 “You’re wearing the wrong clothes”

book by Jeanne Goldie

Speed Read an Organization with our Easy Guide

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What Dieters can Teach us about Creating Organizational Change:

hit with the boomerang

Is your organization “boomeranging” right back to where it started?

Any dieter will gladly tell you about the body’s “set points.” For those of you who have been spared the joys of lifelong dieting, a quick synopsis is that our bodies have a “set point” a body weight or status that it will try to return to, despite behavioral changes. It is basically a “comfort zone” that uses the body’s tendency towards homeostasis to drive itself towards a certain functioning model. Think of it as a rubber band that has been stretched, snapping back into its original shape.

The question is; do businesses have a set point? Is there a “comfort zone” business model that most businesses, despite the outward flurry of change activities or new mission statements, will attempt to return to time and again?

Years ago I worked with a non-profit who had built itself around a key volunteer activity. Long after that activity ceased to return results as it had in the past, it was kept, a “sacred cow” due to the history of the organization. Which is fine if it is a conscious choice, but rather than acknowledge that the time had passed and keep the activity as a “nice to have” rather than a key income driver, endless attempts were made over and over again to revitalize that activity to bring it back to the center of the revenue plan.

Another example is an individual employee.  When they first start their employment they may learn a particular task they had not known how to do before. Or they are given the responsibility for a section of the P&L, a marketing activity, or a key account.  Ten years later, they will still have a particular bias towards that activity or account. This can be a great thing, where the depth of knowledge around the topic can be beneficial, or a blind spot, when they give undue weight to that item at the expense of the big picture.

For every “we tried that back in 2005” that a change agent gets (complete with the implied “and it didn’t work you imbecile”), it is worth considering that the audience is trying hard to return to a model or activity that is in their set point.  No one could possibly sell 200 widgets a day until someone does.  The problem is, once someone sells 200 widgets, it puts everyone who can’t sell 200 widgets on notice and possibly, makes them obsolete.  This is when you’ll see the accusations of “cheating” or “undue advantage”. Sometimes they’re right.   Sometimes they’re 100% right.   And other times, they’re just headed back for the comfort zone.

Have you noticed a “return to set point” in your attempts at organizational change?

book by Jeanne Goldie

Speed Read an Organization with our Easy Guide

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© Jeanne Goldie 2015