Business Process Consulting – Developing the Mindset that Maximizes Business Opportunities

The successful business person is always on the look out for opportunities. The ability to enhance and exploit these business opportunities is a critical skill to master.

Shaping our thinking to encompass this ability is essential in our own leadership skills development and is one of the most important qualities of good leadership.

If we want to succeed at the highest level, this capacity must be integrated into the very fabric of our business. There are four key elements in developing the mindset that will insure we make the most of our opportunities.

One – Focus Your Thinking on Your Mission, Vision and Values

The “being open to opportunities” mindset is created, energized and informed, in the first instance, by knowing what we are in business for and for whom.

The passion and emotion that initially prompted the successful business person to start his or her venture is spelled out in the fundamental elements of Mission, Vision and Values. In the high performance business, these foundational elements are clearly articulated and continually reinforced.

Mission, Vision and Values create the belief system of the business. Commitment to these elements keeps everyone in the business working together with high energy and clarity of purpose.

These elements become the mantra of the business and everyone in it. Mission Vision and Values form the creed in the successful business enterprise. The belief system, so created, first shapes the thinking in the business and then transforms that thought into effective decisions that maximize opportunity and deliver outstanding results.

Thinking deeply, in keeping with, and bounded by, this belief system, is critical for generating and seizing opportunities as they arise. It sets the scene and the framework for the pursuit of excellence in everything that is undertaken by the business.

Two – See the Connections

Once the belief system is in place and firmly established, it becomes the lens through which all our strategic business activities are viewed.
The belief system thus constructed engenders a spirit that inspires everyone to look for ways of fulfilling the Mission and the Vision of the business, in line with the strategic business plan.

The sense of purpose and direction that this inspiration creates is astounding. The business environment and the work undertaken within it are experienced as satisfying and fulfilling. This ethos, deliberately established and boxed, exerts a highly motivating influence on all the employees in the business. They trust their intuition and creative insights and combine their enthusiasm with well thought through planning.

Everyone is on the lookout for opportunities and making the most of them. They see patterns and trends based in real, first-hand experience of the world. They learn from their mistakes and adapt quickly. The momentum gathers. People throughout the business see connections between elements where none existed before, in light of their understanding and living the Mission and Vision of the business.

The people in such environments experiment and develop new ideas that deliver innovative solutions and insure that the most is made out of the opportunities that emerge.

Opportunity analysis becomes a natural process within the bounds of the strategic agenda of the business.

Three – Create the High Trust Business Culture

Working with, through and for others are the hallmarks of the high performance and high trust business culture. Making the most of opportunities in business relies on everyone being bound together by the same values.

Building diverse relationships and making connections that will enhance or exploit new thinking and rapid response only occurs in the context of a shared value base and a clearly articulated strategic business plan.

The vital qualities of self-awareness and good interpersonal communication are evident in the way people treat each other and get their work done.

In the high trust business culture, everyone is reminded constantly and on a daily basis of the reason the business exists and the way that business must be conducted. It is only in such environments that opportunities can be maximized.

In contrast, when this shared value base is not in place, most business activities ultimately fail. When the lack of a shared value base is combined with a deficiency in strategic business focus, a company has virtually no chance to maximize its business opportunities.

Four – See Everything in Your Business as an Opportunity

This component of the “being open to opportunities” mindset comes as a result of having the other three key elements, mentioned above, in place and constantly reinforced.

Everything, and I mean everything, that is going on in your business has within it the potential and power for developing a new product or improved service. But, you must have the eyes to see this. This means making a decision and acting on it. It means listening to the trends and issues in the external environment and to the people around you.

The business driver in the value-based business comes as a result of a deliberate choice that is made. It cannot be left to chance. It is a choice to use all of your unique capabilities to pursue your Mission and Vision and by so doing, reap even greater benefits. Such a decision can only be made on the basis that the three previous elements are fully implemented.

By exploiting the very means through which you develop and currently deliver your range of products and services and by incorporating such initiatives into your planning mechanisms, you will achieve a higher return on investment and reach exponentially higher levels of performance as a business. However, to do this successfully, all of the fundamentals must be firmly in place. Otherwise, you are truly sailing on a wing and a prayer.

Business Process Consulting – Developing the Mindset that Maximizes Business Opportunities

The successful business person is always on the look out for opportunities. The ability to enhance and exploit these business opportunities is a critical skill to master.

Shaping our thinking to encompass this ability is essential in our own leadership skills development and is one of the most important qualities of good leadership.

If we want to succeed at the highest level, this capacity must be integrated into the very fabric of our business. There are four key elements in developing the mindset that will insure we make the most of our opportunities.

One – Focus Your Thinking on Your Mission, Vision and Values

The “being open to opportunities” mindset is created, energized and informed, in the first instance, by knowing what we are in business for and for whom.

The passion and emotion that initially prompted the successful business person to start his or her venture is spelled out in the fundamental elements of Mission, Vision and Values. In the high performance business, these foundational elements are clearly articulated and continually reinforced.

Mission, Vision and Values create the belief system of the business. Commitment to these elements keeps everyone in the business working together with high energy and clarity of purpose.

These elements become the mantra of the business and everyone in it. Mission Vision and Values form the creed in the successful business enterprise. The belief system, so created, first shapes the thinking in the business and then transforms that thought into effective decisions that maximize opportunity and deliver outstanding results.

Thinking deeply, in keeping with, and bounded by, this belief system, is critical for generating and seizing opportunities as they arise. It sets the scene and the framework for the pursuit of excellence in everything that is undertaken by the business.

Two – See the Connections

Once the belief system is in place and firmly established, it becomes the lens through which all our strategic business activities are viewed.
The belief system thus constructed engenders a spirit that inspires everyone to look for ways of fulfilling the Mission and the Vision of the business, in line with the strategic business plan.

The sense of purpose and direction that this inspiration creates is astounding. The business environment and the work undertaken within it are experienced as satisfying and fulfilling. This ethos, deliberately established and boxed, exerts a highly motivating influence on all the employees in the business. They trust their intuition and creative insights and combine their enthusiasm with well thought through planning.

Everyone is on the lookout for opportunities and making the most of them. They see patterns and trends based in real, first-hand experience of the world. They learn from their mistakes and adapt quickly. The momentum gathers. People throughout the business see connections between elements where none existed before, in light of their understanding and living the Mission and Vision of the business.

The people in such environments experiment and develop new ideas that deliver innovative solutions and insure that the most is made out of the opportunities that emerge.

Opportunity analysis becomes a natural process within the bounds of the strategic agenda of the business.

Three – Create the High Trust Business Culture

Working with, through and for others are the hallmarks of the high performance and high trust business culture. Making the most of opportunities in business relies on everyone being bound together by the same values.

Building diverse relationships and making connections that will enhance or exploit new thinking and rapid response only occurs in the context of a shared value base and a clearly articulated strategic business plan.

The vital qualities of self-awareness and good interpersonal communication are evident in the way people treat each other and get their work done.

In the high trust business culture, everyone is reminded constantly and on a daily basis of the reason the business exists and the way that business must be conducted. It is only in such environments that opportunities can be maximized.

In contrast, when this shared value base is not in place, most business activities ultimately fail. When the lack of a shared value base is combined with a deficiency in strategic business focus, a company has virtually no chance to maximize its business opportunities.

Four – See Everything in Your Business as an Opportunity

This component of the “being open to opportunities” mindset comes as a result of having the other three key elements, mentioned above, in place and constantly reinforced.

Everything, and I mean everything, that is going on in your business has within it the potential and power for developing a new product or improved service. But, you must have the eyes to see this. This means making a decision and acting on it. It means listening to the trends and issues in the external environment and to the people around you.

The business driver in the value-based business comes as a result of a deliberate choice that is made. It cannot be left to chance. It is a choice to use all of your unique capabilities to pursue your Mission and Vision and by so doing, reap even greater benefits. Such a decision can only be made on the basis that the three previous elements are fully implemented.

By exploiting the very means through which you develop and currently deliver your range of products and services and by incorporating such initiatives into your planning mechanisms, you will achieve a higher return on investment and reach exponentially higher levels of performance as a business. However, to do this successfully, all of the fundamentals must be firmly in place. Otherwise, you are truly sailing on a wing and a prayer.

Your Small Online Business is the Next in Line to Fail!

Every corner you turn on the internet, you will bump into an internet marketer telling you that 95% of the small online businesses fail within 5 years of startup. And only their products or services will put you in the 5% elite club.

I have good news for you. My research suggests that the small business failure rate is over exaggerated and it’s more like 50%-70%.

Whew, isn’t that a relief?

But, wait! 2 failures in every 3 internet startups is still no laughing matter. If you are careless, your online small business may well be the next in line to fail.

So, what causes an online business to fail? Is it the design of the industry or simply the human nature to fail in business? Here are a few common reasons of online small business failure according to entrepreneurial experts.

  1. Financial Resources Many failed online businesses thought that they could make money out of the internet without shelling out a single cent. They under estimate the financial resources needed to tie them over till their online businesses are self-sufficient. Certainly you don’t need much to start and maintain a small business online. You can enjoy the same services and products an offline business needs at a fraction of the costs, thanks to the convenience and lower costs afforded by the internet. Yet the fact remains that a business startup requires capital, whether big or small, offline or online. For a business to succeed, you have to incur costs not only in production, but also in the constant marketing and promotions to bring in sales. Unless your business can generate enough profits to sustain itself, all the expenditures must come from your pocket. That means you must have a pool of ready funds until you establish your market and the sales pick up.
  2. Market New small online entrepreneurs normally get their first sales from their warm market, ie. the people whom they already know. They believe that with the patronage of their families, friends and associates, their businesses will thrive. This is a fatal assumption. Simply ask yourself these questions: How big is your circle of acquaintance? How long will they patronize you out of support? Once you honestly answer the questions, you can clearly see the need to expand beyond the warm market into the cold market. There are hundreds of thousands of times more strangers than the friends you have. They should be the ones making up the majority of the business incomes, not your friends. Forget about your mother’s advice not to talk to strangers. Start using your business skills to reach out to the vast cold market.
  3. Business Know-How and Skills Just because you can easily start an online business doesn’t mean you have the skills and know-how to run it successfully. Like any other trade, you have to learn the ropes to succeed. A lot of businesses fail simply because their owners lack the necessary knowledge. Fortunately, acquiring the necessary business knowledge is none too difficult nowadays. It is made easier with the proliferation of self-help books in management and entrepreneurship. All you need to learn the business knowledge and skills is a little investment in time and money. Business skills are no rocket science. They are things you already do in daily life, such as math skills to assess profitability, and relationship skills to serve customers. You just need to know exactly what skills are needed and how to enhance them. Then take actions to put them into proper use in an online business environment.
  4. Actions Have you heard the old adage: People don’t plan to fail, they just fail to plan? Planning certainly helps give your online business a direction to succeed. But a plan not executed will get your business nowhere. A business has no feet and won’t run on its own. It is merely a vehicle, waiting for you to drive it to the destination. It is up to you to step on the accelerator to build up the momentum and get everything rolling. Your discipline and will power fuel the business by turning plan into action. To succeed as a business, your efforts alone is not enough. Your staff must be motivated too. It is no good having staff who just sit pretty instead of helping to run the business. You have to prep the staff up when they get sluggish. If they still won’t budge, you have all the right to replace them with someone on-the-go.

The reasons why two-third of online small businesses fail are no mystery. Lack of financial resources, reliance on warm market, poor business skills and know-how, and failure to act are a few common ones. With these factors of failure identified you can then easily avoid them. Take the necessary steps to overcome them and you are well on your way to success with your small online business.