Poll: How do you successfully change your business strategy
Changing your business strategy is not something you do overnight. Much consideration is needed to prepare your company for the future, and rightly so. But what is the most important thing to consider? We decided to ask our @BusModInc twitter followers exactly that and were pleased to learn that the overwhelming majority voted for ‘Talk with your customers’, followed by ‘Define a clear vision’. Walking the talk, however, happens less often than you may think.
Of course, in the end your customers are all that matter. They are the ones who should buy your product or use your service. Talking to them seems to be the obvious choice: who wouldn’t want to talk to their customers to see and hear how they can improve their product and truly add value to their daily reality? What I often notice, however, is that while many companies like to say that they are in touch with their customers, only a few of them actually are.
In reality, only a handful of companies simply pick up the phone to talk to their customers and listen to them. Or better yet, go out in the streets and see for themselves how their products interact with the real world. Only then can you truly learn something about your role in the lives of your customers and translate this to your business strategy. You might learn that your assumptions about your target market were wrong. If that’s the case, congratulations! You can now make changes to your business, which actually can benefit your customer’s needs.
More than a third of respondents thought defining a clear vision was the most important part of changing a business strategy. And to a large degree, they are also right. In order to even start implementing change, a clear vision is essential to get things started. Validating this vision afterwards with your customers (by talking to them, see how it’s all interconnected?) greatly increases the chances for successful change.
Finally, working with a team only got a few votes but is nevertheless of great importance. Without the help and cooperation of your team, getting the desired results may prove difficult or even impossible. In the end, all three factors in the poll are necessary to successfully change your business strategy.
If you’re looking to change your business strategy and need some pointers or motivation to pick up that telephone, don’t hesitate to get in touch!