As a business and marketing coach, I observe that most business people don't think enough about the future. They're so busy taking care of today, and dealing with problems created in the past, that they don't give the future enough consideration. They don't think about:
• What might happen if market conditions change. For example, if the price of oil drops, or interest rates climb.
• They don't think about how advances in technology could undermine their business model. (Technology companies are the most vulnerable in this area by the way.)
• They don't think about new kinds of competition. They don't see competitors coming out of nowhere. (Think about UBER and the taxi companies.)
They don't imagine that the future could swiftly catch up with them and turn their world upside down overnight.
That's why you need to build your business around a BIG Idea that is universal and future-proof. This BIG Idea has three components:
• A Big Problem you solve for your customers;
• A BIG Goal you help them achieve;
• A Signature Solution you use to solve the BIG Problem and achieve The BIG Goal.
If you pick the right BIG Idea it will never go out of style, no matter what happens with market conditions, technology or competition. You can keep adapting your business to change without uprooting its core mission.
A BIG Idea is one of the key principles of New Factory Thinking, which I write about in my new book The New Factory Thinker: Re-Wiring Our Minds For Success In A Disrupted Marketplace.
To learn how to become a new factory thinker, go to: www.newfactorythinker.com
You can also visit: bishopbigideas.com