Keeping a business relevant and growth-oriented in the long term has always been a challenge. It seems like nowadays, this is more difficult than ever.
The Digital Age is coming quickly upon us, and it feels sometimes like every year or even every six months it’s a whole new game out there. This means more opportunity but also more confusion.
Those of us who own or run businesses of any size, shape or color often wonder what the next step is. Fortunately, there is a resource out there that can help us in many ways.
Paul Broadfoot has developed a system in which business leaders can learn to identify 24 different business models, and figure out which one or ones suit them best in any given situation.
As he states on his website, often the idea isn’t to apply something completely new, but rather to apply something already existing, but in a different way and with a different paradigm. Or often, the ability to switch between two or more different techniques in a flexible and adaptable manner is the key.
One should look on the modern world not as a curse, but a blessing, or at the very least understand that a lot of what can scare us and worry us as business leaders about the very volatile business climate in which we find ourselves. Volatility and change mean more opportunity. It’s just a matter of identifying and exploiting these new opportunities.
Paul Broadfoot notes on his website that competing in the business world is analogous to waging war. If we further that analogy to think about what has historically happened in times of war when new technologies come into play, we can better understand what’s going on in today’s business world.
This is why we have these startups coming from nowhere who just seem to zoom past their competition. These are invariably people who understand technology. But much more important than just understanding the technology itself, they have to understand its correct implementation or implementations and their ramifications in the specific market situations in which they are being used.
It’s a great idea for companies and business leaders to contract the services of people like Paul Broadfoot who can open us up to new meta-concepts in the areas of growth, innovation and successful competition. The future is ours for the taking, if we are smart enough to really want it and do something about it.