Assessing the State of Your Business: Pt. 2

Note: If you're landing on this without having first read Part 1, please have a look at that first. This post is more a matter of due diligence to the framework and likely not relevant to anyone outside of those in more mature businesses. And for those who prefer the source, have a look at the Strengthening the Commercial Ethos Spiral--or its root framework, Interacting for Benefit.

Leaving off from the previous post, we find ourselves at Stage 5 of the Strengthening the Commercial Ethos Spiral:

Stage 5: Surrender

Surrendering likely seems an odd word for businesses who, not so long ago, were focused on the battle with competitors. But this isn't about competition anymore, it's about acknowledging that your business is beholden to its customers and acting accordingly.

How do you take full advantage of this stage? Consider customers family: trust them, share relevant information with them, ask them for feedback, personalize your interactions with each one and conduct business in such a way so as to deserve your customers' loyalty.

If successful at this stage, much like family, many customers will stick with you and your business through thick and thin with fierce loyalty, even going so far as to be evangelists for your business.

Stage 6: Innovation

Innovation has become a buzzword for startups and Silicon Valley tech companies (and their many copycats). Tech companies operating at the cutting edge of their industry are innovating indeed, but it's at a much more industry-wide level. Most of these companies are rather short-lived, so reaching Stage 6 is unlikely, but it certainly does apply to companies like Apple, Microsoft, Google and the like.

Every mature business reaches a point where their product is stale and their business is stagnant. It's time to change. But how? What direction? Time to get academic. Read industry papers, follow the blogs, fire up R&D, look at new ways to use existing products and services, think outside the box. But can't we go further?

Stage 7: Positioning

Inspired executives and boards see where they are and where they (and markets) are headed and can use that information to position themselves appropriately.

Interestingly, while this stage is related to the Reality-centered mentality of the Interacting for Benefit framework, expressing it requires numerous abstractions. Envision the unrealized future of your industry and even try to direct it if possible. Think several steps of even potential competitors. Think about the long-term future of the resources your industry uses. Anticipate the influence of ego, ambition, desperation and the range of human emotions involved in businesses. Think globally, politically, socially and economically.

Final Words on This Topic

As I said in Part 1, if this seems vague, fair enough. Your business, industry and markets are unique and only you can decide how and when to apply this information.

I have personally used this framework to give businesses a push into the next stage of their development. And for others, I've at least made them aware, though it remains up to them to apply it--or even care. For many, it's enough to make a living. At these final three stages, it's more about making difference.

If you are wondering where your business stands and how you can take it to the next level, let's talk.