Why do businesses fail?
Sometimes it’s bad management or poor execution, but more often it’s a simple inability to create a product that people actually want to buy.
And how do you know what people want to buy? You ask them.
Getting customer feedback sounds simple enough, but in practice, getting useful quality feedback from customers can be challenging. I was asked in a recent session I was leading about how to assess customer assessment of their companies performance.… Read more
There is a whole literature about success being born from failure.
And, yes, in essence I agree with this big idea; that only through testing yourself and accepting that your testing could produce failures, can you create a successful business, strategy, approach, career etc.
As a new General Manager, you’ll be counselled by your HR team to be tolerant of failure, to support failure, to even encourage failure as a means to speed success.… Read more
In the business world in which we work, we often meet people who consider themselves to be “experts in their field”. Now if you know the field in which they claim expertise, then you are very able to ascertain whether they are genuine.
But if you have no idea, or are seeking guidance in a field you are unacquainted with or less skilled in; how can you tell genuine experts from potential fakes?… Read more
As a new or transitioning General Manager, a new skill needed is having the ability to simply understand how your your new business makes money. If you haven’t developed a means of analysing business plans in a logical way, then I’ve set out a means below?
By analysing your businesses strengths and weaknesses also enables you to focus your attention on where your business needs you RATHER than where you are most comfortable.… Read more