Let's take a closer look at each of these four outcomes; pay attention to whether any feel familiar with your situation right now.

Here’s the path to new growth in your business

What is the difference between businesses that enjoy significant new growth and those that flatline or fizzle out despite their best efforts?

I’ll answer that question in today’s email. If you’re feeling stuck and uncertain about how to grow your business, then what I have to share is for you.

In my previous post, I shared how businesses are going through a critical inflection point brought on by uncertain shifts taking place as we begin to emerge from the pandemic.

After an inflection point, a business will follow one of four paths.

1. Blow Up Your Business
2. Slowly Lose Ground
3. Burn Out
4. Unlock New Growth

Which path does it feel like you are on right now?

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Are you prepared for the post-pandemic changes affecting your business?

Are you prepared for the post-pandemic changes affecting your business?

I don’t know about you, but I started 2020 with big plans for my life and business. Of course, we all know what happened next.

While it is tempting to look at the last sixteen months as a period of limbo, the pandemic has allowed us to pause to take stock of what is working, what could be better, and what is no longer serving us.

As a result, re-evaluation and revolution have taken place in politics, social justice, business, and more.

This period of change is an inflection point for business owners, whether they are directly feeling the effects right now or not. Buyers’ needs are shifting. The way we do business is evolving at breakneck speed. What worked yesterday won’t work tomorrow.

Look no further than an online search for “pandemic business inflection point” to see how much this is a present concern for business owners.

While decisions made during inflection points can make or break a business, it’s also a time of immense opportunity.

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Strategy: Overcoming Costly Business Blindspots

Strategy: Overcoming Costly Business Blindspots

How can you tell which things you should focus your limited time, money, and energy on to get the best results in your business?

With so many things pulling at your attention, it can be challenging as a business owner to know what should get your attention now and what can wait.

It’s easy to end up operating in a reactionary mode that stretches you thin. The fog of working in your business day to day clouds the path ahead.

So, how do you clear the fog and gain clarity about the best roadmap for your business?

That is the topic of this new series of episodes about strategic planning. My goal with this series is to help you make sound, effective, and fruitful decisions about your business.

In this first episode of the series, we talk about five business blindspots that we must overcome in order to think strategically about our business and make sound business decisions.

In This Episode

  • How to find the best strategic path forward for your business
  • 5 common blind spots that are hindering your business growth
  • How to overcome these blind spots when they inevitably hit your business

Download This Episode’s Framework

Business Blind Spots Cheat Sheet
Download Here

Mentioned in This Episode

Further Resources

 

How to overcome costly business blind spots

How to overcome costly business blind spots

What would you do?

Imagine you’re sitting in a theater watching a movie with a date.

Between tickets, popcorn, and a drink, you’ve already spent $60 to be there.

Thirty-five minutes into the two-and-a-half-hour movie, you realize it’s awful.

You’re bored out of your mind with no sign of the story improving.

The writing is so bad, not even the top-notch actors can save it.

Do you leave? Or do you stick it out?

Before you answer, consider the following two things.

  1. By all indicators, the movie is a dud.
  2. If your goal is to have an enjoyable date, you would likely be better off leaving and pursuing a different (perhaps even free) activity.

Given these two statements, the answer would seem to be to get up and leave.

However, this is not how our brains tend to think. We’re more likely to stick it out in hopes of recouping something from the $60 invested in the movie.

This is called the Sunk Cost Fallacy.

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How to gain clarity to find the best roadmap for your business

How to gain clarity to find the best roadmap for your business

How can you tell which things you should focus your limited time, money, and energy on to get the best results in your business?

With so many things pulling at your attention, it can be challenging as a business owner to know what should get your attention now and what can wait.

It’s easy to end up operating in a reactionary mode that stretches you thin The fog of working in your business day to day clouds the path ahead.

So, how do you clear the fog and gain clarity about the best roadmap for your business?

When I was five years old, I went on a hike with my grandpa that led to a large, white letter Y painted on the side of the mountain (a reference to the name of a local school).

What should have been a two-hour round-trip hike turned into a four-hour trek in the hot sun?

We’d been so focused on the ground in front of us that we strayed from the main path.

For a couple of hours, we traversed ravines, followed deer paths, and hoped we were headed in the right direction.

After a good deal of wandering, we finally emerged into a clearing strewn with white painted rocks. We had finally arrived.

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