7 important questions business owners should ask themselves
NORTHERN Rivers business strategist Steve Tighe is a man who can make a difference.
His skills are in such high demand that he has been invited to share his knowledge with experts and business leaders from around the world at a conference in America.
He will speak at next month's Association for Strategic Planning Conference in Denver, Colorado, just two weeks after the global launch of his new book, Rethinking Strategy.
The book will be launched in Melbourne, Sydney and Lennox Head and will be available in all book stores and online from May 1.
Mr Tighe has spent the last two years working out how businesses can adapt to become future-proof.
He said the world had become complex, dynamic or volatile, but business owners had not adjusted the way they made decisions.
"I believe managers know their current techniques don't work... but in the absence of knowing what else to do, they return to the methods they know, but no longer trust," he said.
According to Mr Tighe, business strategies must look at the questions people asked when they consumed goods.
"Whether you consume clothing or whether you consume food, the questions consumers ask are becoming different and deeper," he said.
"Previously questions were quite shallow - they related to appearance or price - and now they are related to where did this come from, whether it is material or whether it is food."
While the book encompasses scenario planning for large corporations, he said there were lessons for all business owners.
Small business owners could ask key questions, including:
- What are the frustrations customers have with our products and services?
- What unnecessary margins can others target?
- Do we give customers a reason to stay?
- What is the price being paid for today's behaviours and what future markets does that open?
- What are today's dominant values and how are they influencing current behaviours and priorities?
- Which issues have the potential to emerge as unresolved tensions in the future?
- Which practices are the public unaware of in the business, but if they were, would it alter the perception of who we are and what we do?
Mr Tighe said his number one goal was to make an impact within organisations.
"I believe there is a real need for these strategies as leaders are seeking better and more suitable tools to position their companies for future success," he said.
Pre-order Rethinking Strategy now at https://www.stevetighe.com.au/