Since I first introduced Marketplace Alchemy as a unique body of work a couple of months ago, I have received a number of emails from curious Business Founders who want me to talk more about how they can immediately start implementing this system in their own businesses.
Because the system is so extensive, I have to keep unpacking it and sharing in a manner that makes it nimble and easily applicable.
Recently, I organised a Business Hangout where I publicly shared, for the very first time ever, a leaf off this system specifically for gaining market advantage.
Part of why it was important to take this public is because I’ve seen Business Founders who continue to leave money on the table.
This is especially true for businesses who have run a business for at least 5 years.
In my work consulting for hundreds of companies, one key area that plays out way too many times is how there is gold in plain sight…
Assets that are staring them smack in the face which they are not seeing…
How there’s gold to be mined in their business but they haven’t yet started mining it, because there’s focus on one element within the system they currently have, irrespective of whether that element is worth the effort or not.
Ways of doing business is constantly changing, and sometimes what you think is the right way today becomes obsolete tomorrow.
To be able to stay consistently ahead of these changes, all it takes is a little creativity and a fresh perspective on what’s going on around you.
How much you can make in your business is determined by how much business, social and environmental knowledge you are acquiring on a daily basis and how much effort your organisation is willing to put in to address these changes.
If you want to stay ahead of the curve in your business today, follow these critical three steps which I share below.
The first step is to Analyze your current situation.
I’ll use this analogy to explain why this is vital to everything you do in your business…
If you’re trying to get to a destination you’ve never been to before, you will need a map or directions to get there. In order to map good use of that map, it’s important to first know your current location so you can find your way.
There is a need to properly analyse your current situation and get a bird’s eye view of where you are and the factors affecting your business at this very moment.
It is only when you have taken a critical look at your current situation that you can know what turns and stops to take on your destination.
The second step is to Strategise for the journey
Now that you know where you are and have your core business goals, it’s time to put together how you’re going to get there…
And the way to do that is to develop a blueprint for accomplishing those goals.
Based on the earlier analogy I gave, you now have your current destination and the map in your hand. Will you go on your business journey by boat, train, airplane, foot?
You want to ensure that you take learnings from your past mistakes to determine what can be done differently.
You have to proactively prepare for road blocks that you may encounter on the journey.
You will have to commit to following through on your course of action.
Finally, it’s important to continue to re-invent your business to the consistent market changes and find new potentials.
Strategising for your journey will require creativity, collaboration and innovation.
The third step is to have an Implementation plan
In order to stay on track with your strategy, you need to have a specific plan of actions on how you want to reach your end goal.
This plan will have milestones you’ll have to reach at each turn, and removes the chances of doing things on a hunch.
Your plan will include financials detailing how much money you intend to make…
how you will increase your business visibility and put your products and/or services in front of your core customers…
how you will drive your business operations how to improve customer satisfaction and experience.
So, those are my three steps in a nutshell.
Now ask yourself this; Have you taken the time to analyse your current business position or do you think it is a tireless exercise?
Properly think through your answers and your reasons for a ‘Yes’ or ‘No’ to this.