Quote for the Day
“If I had asked my customers what they wanted they would have said a faster horse”
Henry Ford
Planning in Uncertain Times
We are still grappling with the effects of Covid, and we now face supply chain problems and roaring inflation particularly with energy costs
In this VUCA world (Volatile, Uncertain, Complex and Ambiguous) everything is changing fast. What took five to ten years in the 1980’s and 1990’s took three to five years in the 2000’s and we now see major change every eighteen months.
How are you planning to meet the unique challenges that are being thrown at you?
What is your planning horizon – 30 days, 60 days, 90 days, 180 days or even 360 days?
How often do you revise your plan as a reaction to a change forced on you by some outside force?
Amongst the threats to look at is the impact of technology on our businesses, our customers, and our competitors – both current and future.
Here are four ideas to help you:
1. Sustainable Competitive Advantage – How you stand out from the crowd
2. Blank Canvas – How would you set up your business from scratch if you were starting today
3. Contrarian Thinking – Appoint someone to argue against the proposal
4. Lean thinking – Toyota seven wastes, The Lean Start-up and Minimum viable Product
By all means ask your customers what they want but bear in mind what Henry Ford said, “they will only ask for a faster horse” So you need to guide them onto the right path
How can you use these ideas to help you to plan your survival?
Growth and Profit Club
Please note that my next free Growth and Profit Club workshop on Zoom will be at 16.30, on Thursday, 29 September 2022, and the topic is Making Meetings work
Membership of my Growth and Profit Club will allow you to access other business leaders’ experience, knowledge, and wisdom, and share your own, helping to develop the expertise and proficiency of everyone on the Zoom video call.
If you would like to discuss the challenges and opportunities for your business or would like to join my Growth and Profit Club, please contact me on alan@mrwcs.com or phone 07860 813444.