Get Ready to Search, Respond, and Exploit your Opportunities!
by Trilogy Partners on Oct 31, 2016 8:00 AM
Peter Drucker once stated, “The entrepreneur always searches for change, responds to it, and exploits it as an opportunity.” The most successful entrepreneur, business owner, or patriarch/matriarch in a family owned business will often ask if the skills, philosophies, and lack of structure that helped the business get to where it is today are the same traits that limit its growth in the future.
In the search for expansion and evolution, the leader in an entrepreneurial organization needs to self-reflect, listen to the next generation or senior staff, and look for signs in the business leading to a trend of stagnation and plateauing. In this reflection, a leader must assess his/her own ability to change and respond, or decide to elevate others to take the organization to the next level.
A leader can take the following steps in response to this:
- Verify the core values and culture of the organization. Never forget what got you to where you are!
- Define clearly and simply your Vision for the organization, the company’s goals and the roles needed to achieve the next level of success. Keep the future in mind for organizational development and do not let the status quo stop you.
- Identify signs and business trends with “open eyes,” be honest with yourself and recognize the company’s areas of vulnerability.
- Be prepared to make difficult decisions that could directly impact you, the next generation, or key employees that helped achieve the current level of success. Question whether or not you have the right talent in house to take the company to the next level.
- Ask for help within the company and talk to external trusted sources to provide a direct, unbiased view of the situation for yourself and the organization.
- Finally, you must answer the hardest question: “Are you willing to change (with the possibility of accepting a new role) and let go?”
What an exciting time to Exploit your Opportunities! The efforts you put in, and the rewards you reap are the ultimate acknowledgment of success and personal gratification. Enjoy the next stage of your professional, personal, and organizational journey.