Despite their size a dolphin can change direction incredibly quickly when it chooses. Similarly, an agile business rapidly translates insights from the market into opportunities, overcoming inertia, legacy constraints and any other barriers standing in the way.
This way keeps you one step ahead of the competition.
The trick is to understand and act on the insights.
Insight is more than just keeping your ears open or winding up customers by joing the queue asking for feedback, it is also about creating the opportunities to hear. Do you really know who your best customers are and why they are better than others? Do you have a good handle on your key business metrics so that your decisions are based on evidence rather than guess work? Do you know what your customers would love to buy from you if only you sold it. Intelligence used to be the preserve of bigger firms, but even without expensive tools it is not so hard to:
– analyse and identify the most profitable customers
– predict the outcome of a marketing campaign
– learn from customers before the market cottons on – see example from New Zealand
Acting on insights is not about “Thinking outside the Box” see why here, but it absolutely is about taking all of those ideas buzzing around in your head, prioritising them and thenworking out how to make the right ones happen. How often have you seen something in your industry news and thought “I had that idea”, but then realised that you did nothing about it. Ideas are cheap, it is executing them that really adds the value and this calls for spending less time ‘in the business’ and more time ‘on the business’ often by:
– prioritising getting things done – see 4 ways here
– getting some help by recruiting – read about our novel approach here
– working with partners