Stagnant Businesses Are At a Critical Juncture
An increasing number of companies have told eBrand account executives that they’ve been stagnating. It’s a scary word. For example, when lakes stagnate, fish die. Businesses that are stagnating are at a critical juncture, a temporary stopping point. They’ll either move forward or backwards but they won’t stagnate for long.
I find it interesting that even though we’ve had advertisers admit that they’re stagnating, they’ve decided to stick with the status quo. They’ve lost their appetite for change even while admitting, based on the historical and live data we present, that the solutions we offer are superior. I’m certainly empathetic to the quandary decision makers are in but the fact is; if they’re not acting then they’re reacting. Thinking but taking action too empowers a company to control its future. On the other hand, companies coming from a position where they’re reacting to changing circumstances invariably leads to a culture of emergency management.
One is a position of power. The other a position of weakness. We only have to look towards companies like Circuit City for proof of that.
Almost every business believes that the primary reason its ailing is a lack of capital. While this can be a contributing factor it is rarely the root cause. The primary culprits that cause businesses to falter or stagnate are a lack of one or all of the following: vision, leadership and systems. Companies with vision are able to see the whole of the terrain and based on what they see they then strategize tactics for driving greater profitability. Courageous leadership is needed to execute the strategies given to them. Systems can give a business a foundation in the form of processes and procedures and they can be developed to acquire data.
Many companies fail in this regard. Their businesses are ripe with data that isn’t being captured and if it is being captured, it isn’t being mined.
Scientists have proven that nothing in nature goes to waste. Nothing that happens in your business, to your business or because of your business should go to waste. Use to today’s data to capitalize on tomorrows opportunities.