For the past 12+ months there has been several shifts in the rate of pace in the business world. Depending on which industry you are in you either experienced a complete shutdown going to a snail’s pace or it accelerated to breakneck speed pace. Although there are always shifts in the pace of a business, they were far more exacerbated in 2020 and early 2021.
The challenge in moving with the change of pace is having a solid understanding of the time and energy to move with the change. When a business is shifted by choice, there tends to be a reasonable amount of upfront investigation and routine to decide if, how, when, where and of course why to make the shift. When a shift is imposed upon a business either as a result of a global unforeseen event or more localized in that the business took its eye off of its marketplace and is in catchup mode, the response is fare different. In either case there is an expense of energy and time to bring the business into alignment with the changes. The business needs to get to that alignment so that it can sustain for the long term. It needs to be in this formation in order to capitalize on the opportunities the changes brought upon the business. It also needs to understand the ramification on the business’s cash flow and capital it has to operate.
The past 12+ months should be a wake-up call to all leaders about needing to keep the rate of pace in the business as a top priority. When a business leader gets casual about any of the impacts of time on the success of the business or the energy expended to get to its next success then it places its purpose and people at risk.
When looking at the business, a leader needs to understand and appreciate the intersection of the level of sustainability (development of new ideas and product/services) with the level of scalability (being able to deliver on the promises of the products/services). In an ideal mix, a solid balance of growth which expends the business time and energy along a path or trajectory which complements the purpose of the business while leveraging the talents of the people in the business. An over swing in either direction places excess stress into the mix and thus imposes additional dynamics to the future success of the business. Over demand on scalability/delivery will burn out the people and the resources. Not enough demand on improvements to products and services leaves the organization stale and too relaxed. The competition blows right by them and captures the market.
This week as you continue to build your organization to be the best it can be, take some time to evaluate the swing of the pendulum between the demands on upgrading products/services and the demands of the marketplace. Pay close attention to what the goods and services you are already delivering from your warehouse and those missing and yet to be developed. The GAP might be the opportunity for innovation.
Need a framework to evaluate the “Pace” in your business? Call JKL Associates at MI- (313) 527-7945 or FL- (407) 984-7246 and ask us about our Prioritized Leader Mastermind Cohort which incorporates an opportunity to better understand how pace influences the priorities of the business success.