Information, competition, and consumer behavior change constantly. To stay on top, your organization needs to change, too. Because if you don’t change, you die. We talked to Fred Cary, CEO of IdeaPros, about matters of life or death and how to keep your business alive and thriving.
Two companies can be selling the same product to the same types of customers. One of them will be wildly successful, and the other will fail flat on its face. It’s not the product nor customer, it’s the execution. You need to continually understand what your customers want, what you have to offer, and why is that better than the competition. Learn as much as you can and get new information as you go.
“The philosophy of the organization is what makes it thrive.” – Fred Cary
Philosophy starts at the top and bleeds through every single thing you do. It is how the leadership or the sole proprietor feels about the business, how they want to conduct it, and the value they want to give their consumers. Being true to your belief system is crucial. If you don’t follow this belief, you won’t pay hereafter. You pay here and now. Know your core value proposition and learn to share it with the world.
“To paint a perfect painting, everybody needs to use the same brush.” – Fred Cary
Hire people according to your philosophy. Business is a group effort. The group needs to understand the underlying viewpoint of the organization to prosper. Don’t play a game of corporate telephone within your organization. You don’t want your message to go down the chain completely changed. Broadcast your message loud and clear throughout the company so people can resonate with it and act upon it. Things will go wrong often, and you will have to put out fires. To succeed, you need a solid internal structure that acts with commitment and fortitude. If your employees know the WHY then they can help you project it onto others.
Be mindful and have a philosophy that resonates with the right people. Apple is a glowing example of a brand that turns people into their most passionate advocates. Make your customers a part of the tribe. If you proposed a Starbucks Board of Directors to include a 99 cent coffee in their offer because it can increase the revenue by 25%, they would say no. They are not about cheap coffee. Starbucks is about experience. This philosophy dictates their actions and steers the organization in the right direction. Don’t think about making money fast as you can pollute your brand. Getting opportunistic and disregarding your beliefs will have short-term benefits, but it will be a long-term distraction. Also, you can’t be good at many things at once, especially when you are starting. Show why you are superior compared to the competition. You can do that by focusing on what you do best.
“To succeed, you need to understand the correlation between your core value system and your actions.” – Fred Cary
Don’t forget it’s a continual process. Internally you have to figure out your philosophy and project it. It is not easy. People don’t get it when we say it once. Double down on what you and the company are all about. Make sure the people most important to you understand that. Externally, you have to stay on top of the game. Figure out your advantages. Get the message to your consumer and make them the passionate advocates of your brand.
The “Idea Pros” at IdeaPros have the resources, experience, and tools to help you at this step or any step in the entrepreneurial journey.
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