Business Matters Magazine’s Post

The more we learn and the faster we learn, the easier it becomes to scale our businesses. Read more: https://hubs.li/Q02sjc530 Post written by Ryan Niddel, Forbes Councils Member.

With the economy in continuous change, companies can unlock and sustain growth by building new businesses while reinventing and transforming the core business. Learn about dual transformation and 5 principles to new business success: https://ow.ly/J2XP50TejCa #BusinessTransformation #DualTransformation #CorporateStrategy #EconomicChange #StrategicPlanning

Excited to share this insightful article on how businesses can be a force for good in the world! 🌍 Let's work together to make a positive impact. Check it out here 👉 https://zurl.co/lhwD #CEOMonthly #Business

Small and midsize businesses (SMBs) often make the mistake of competing with big companies on their terms. That’s a losing game. Instead, SMBs need to embrace their size and dexterity—and capitalize on what makes them different. Here’s why. Imagine a small outboard boat and a massive supertanker. At 30 knots, the small outboard boat can circle the stationary supertanker 74 times in the time it takes the supertanker to complete one full 360° turn. That’s the difference in maneuverability. Large companies can’t afford to make sharp, lateral moves to seize new opportunities. Changing direction is expensive. It’s slow. It’s risky. This is where SMBs gain a massive advantage. 𝗣𝗹𝗮𝘆 𝘁𝗼 𝗬𝗼𝘂𝗿 𝗦𝘁𝗿𝗲𝗻𝗴𝘁𝗵𝘀 Small companies lose their edge the moment they start pretending to be big. You’re not big, and that’s your superpower. You can be fast, flexible, unique, and nimble in ways that big companies can’t. 𝗪𝗵𝗲𝗿𝗲 𝗦𝗠𝗕𝘀 𝗪𝗶𝗻 Large companies are built for scale–not flexibility. They’re designed to follow a straight line, focused on serving massive markets and predictable operations. But the market doesn’t always move in a straight line. Opportunities pop up at the edges—places that big companies can’t reach without significant effort and expense. This is where SMBs shine. You can pivot. You can move quickly to capitalize on emerging opportunities. You can offer custom solutions that big companies can’t deliver. And you can attract customers who are just as frustrated by the rigidity of big companies as they are impressed by their capabilities. 𝗦𝘁𝗼𝗽 𝗣𝗹𝗮𝘆𝗶𝗻𝗴 𝗕𝗶𝗴 Here’s the bottom line: every time you act like a big company, you give up your greatest advantage. You weren’t built to operate like a supertanker. You were built to outmaneuver one. Focus on what makes your business different. Lean into your speed, flexibility, and adaptability–this is where you kick butt. The market is full of opportunities sitting just outside the path of big companies. That’s where you win. __ Enjoy this? ♻️ Repost this to your network & follow Jeff Spence for more. Want to become a better leader? Try my newsletter: https://lnkd.in/eiKwHv-9

Can businesses genuinely achieve lasting success while chasing fleeting short-term gains without a clear, purposeful vision for the future? How can organisations hope to outpace their competitors if they resist innovation and fail to evolve in today’s rapidly changing market? And ultimately, is the relentless pursuit of immediate wins worth jeopardising the long-term sustainability and resilience that define true prosperity? Well modern businesses often find themselves ensnared in a relentless race for survival. Like a cat endlessly chasing a rat, many enterprises pursue fleeting opportunities without a clear strategy, only to succumb to exhaustion and eventual failure. But what drives this unsustainable trajectory? At the heart of the issue lies a lack of vision. Many entrepreneurs launch their ventures with enthusiasm but fail to define long-term objectives or develop a clear roadmap. Without strategic direction, businesses become vulnerable to market volatility and struggle to adapt to shifting trends, leaving them directionless in a competitive landscape. Equally detrimental is poor financial management. Mismanaging cash flow, over-relying on debt, or neglecting to invest in growth opportunities often leads to crippling liquidity crises. The inability to strike a balance between expenditure and reserves pushes many enterprises to the brink of collapse. The failure to innovate compounds these challenges. In a rapidly evolving marketplace, businesses that cling to outdated practices or overlook technological advancements quickly lose relevance. Without a commitment to continuous improvement, competitive advantages erode, leaving companies ill-equipped to meet changing consumer demands. Leadership deficiencies also play a pivotal role. Ineffective leaders who lack decisiveness, adaptability, or the ability to inspire teams struggle to steer their organisations through challenges. Poor team management further stifles productivity and morale, creating a cascading effect that undermines success. The "rat race" mentality—an obsession with short-term wins and immediate returns—often blinds businesses to sustainable practices. To thrive, organisations must move beyond this reactive approach, embracing clarity of purpose, disciplined financial management, and a culture of adaptability and innovation. True success in business isn’t about running harder; it’s about running smarter. Without this shift, many enterprises will continue to exhaust themselves in a race they were never prepared to win. #CorporateStrategy #CEO #Managers

“The Key to Creating Long-Term Value for Businesses and Society” In today’s fast-moving business world, true success isn’t just about short-term profits. The best companies deeply understand their purpose and build around it. The focus isn’t just on maximizing financial gains, but on creating lasting value that benefits both the company and society. Deep visioning is not simply a catchy phrase—it’s a transformative way of doing business. It’s about embedding purpose at the core of every decision and action, making it the foundation for long-term success. This approach can radically change how a company operates, delivering benefits that extend far beyond immediate financial results. It leads to value creation for customers, suppliers, employees, shareholders, and the broader community. When companies commit to deep visioning, they connect deeply to their purpose, creating not just financial gains but a sustainable and meaningful path forward. This method emphasizes the need for companies to move away from short-term thinking and embrace long-term, holistic value creation. The key components of deep visioning include: 1. Purpose as the Central Driver: Purpose isn’t an add-on; it’s the operating system of the company. Every action and strategy should align with this core mission, ensuring it drives long-term success and creates lasting value. 2. Creating Long-Term Value: Deep visioning shifts the focus from immediate profits to building long-term benefits. Companies that prioritize purpose beyond financial gain—integrating social responsibility and environmental concerns—achieve more enduring success and benefit society at large. 3. Building Win-Win Stakeholder Relationships: Businesses practicing deep visioning create positive relationships with all stakeholders. This leads to greater customer loyalty, stronger supplier partnerships, improved employee engagement, and solid returns for shareholders, all while contributing to a better society. 4. Purpose-Led Leadership: Effective leadership is crucial for deep visioning. Leaders must align decisions with the company’s mission and inspire teams to pursue this shared purpose. This approach fosters a united, innovative workforce and drives long-term success. Companies with deep vision not only succeed financially but also generate positive social impact, creating win-win scenarios. This long-term vision keeps the company adaptable in changing markets and competitive environments. In essence, deep visioning is a new way to run a business, making purpose the foundation of all decisions. When businesses embrace this vision, they go beyond surviving in the market—they thrive while creating lasting social and economic value. Companies that fully embrace deep visioning don’t just compete—they become forces of positive change, shaping a better future for both their business and society. This is the mindset entrepreneurs and innovators should strive for to ensure long-term success. #DeepVisioning

Scaling a business is an exciting and challenging endeavor that requires more than just capital and strategy. At the core of sustainable growth lies the principles of transparency and accountability. These values not only build trust with stakeholders but also foster a culture of integrity and responsibility within the organization. All businesses want to grow over time. Some do it quickly, while some take a little more time. However, as the landscape of business has changed, scaling a business has become a trickier proposition. A lot of businesses today go after quick scaling at the cost of sustainability. And one of the major casualties during this process are the principles of transparency and accountability. Transparency and accountability are qualities that are essential to any organization. They form the core of sustainable expansion that leads to better outcomes. Transparency ensures that all stakeholders, including employees, investors, and customers, have a clear understanding of the company's operations, performance, and decision-making processes. By providing accurate and timely information, businesses can manage expectations, mitigate risks, and enhance their reputation. It creates an environment where feedback is valued, and everyone is aligned with the company's vision and goals. Accountability, on the other hand, is about taking responsibility for actions and outcomes. It involves setting clear expectations, providing justifications for decisions, and being prepared to face the consequences of those decisions. Accountability drives performance as it encourages individuals and teams to meet their commitments and continuously improve. It also assures stakeholders that the company is managed ethically and efficiently. In the journey of scaling, these principles become even more critical. As the organization grows, maintaining transparency and accountability helps navigate complexities, attract and retain talent, and secure investor confidence. They are the pillars that support long-term success and resilience, ensuring that the business can scale sustainably and responsibly. #BusinessGrowth #Transparency #Accountability #SustainableScaling #CorporateGovernance #TrustBuilding #EthicalLeadership

To create future-proof, resilient businesses that people want to work for and customers want to buy from, CEOs need to embrace the power of purpose. “Purpose gives employees a greater motivation to work than the base pursuit of shareholder value. But that emotional connection – that intangible – could be the thing that drives greater return on assets and equity,” says Joanne Kerr, Head of Purpose, for Raconteur. For businesses struggling with uncertainty and economic challenges, purpose is a guiding light and the foundation for a successful future: https://hubs.li/Q02xVdnN0 #FTSE350 #purposepowersprogress #performance #purpose

In today's fast-paced business world, having a clear and compelling purpose is essential for sustainable growth. A well-defined purpose aligns teams, clarifies decision-making, and propels businesses forward, creating resilience and focus without sacrificing efficiency or profitability. For mid-market companies navigating complexity, purpose is not just a nicety; it's a necessity. Read more about how purpose can anchor your business for sustainable growth: https://lnkd.in/g6C-nQQZ

Adjusting Business Strategies to Meet Changing Market Conditions In today's rapidly changing market, businesses must continually adapt their strategies to survive & thrive, much like the story of the dogs crossing a river in the Wild Savannah. Initially, the dogs struggled because they responded reactively without evaluating their environment. This situation reflects how companies often fail to analyze and adapt to new market conditions effectively. We can explore how businesses can respond more successfully using Jack Canfield's formula approaches: *The Success Principles Approach (Event + Response = Outcome)* The Success Principles emphasize that the outcome (O) is shaped not by the event (E), but by our response (R). In the dogs’ story, their initial struggles mirrored those of businesses facing a market shift. Applying Jack Canfield's formula (E + R = O), we can break down our responses to better shape the outcomes. Here are some questions companies can ask themselves to improve: How did I create that? This reflection can help businesses evaluate their strategies and make necessary adjustments to thrive in a dynamic market. By failing to anticipate or prepare for market changes, the business became reactive, similar to how the dogs initially struggled to cross the river. It's essential to identify how the company's strategy has led to its current challenges. What was I thinking? The dogs may have focused solely on survival without considering a strategic approach to the crossing, just as businesses often cling to outdated models despite clear shifts in market demands. What were my beliefs?  Believing that the current strategy is sufficient can hinder a business's ability to adapt. If the dogs had assumed that one method of crossing would work in every situation, they wouldn't have evolved. What did I say or not say? A lack of communication within a business can worsen problems. Are internal teams sharing vital market insights? Are leaders engaging with their workforce and customers to gather feedback? What did I do or not do? Like the dogs, companies may fail to take appropriate action or make the right strategic decisions. Did the business neglect to innovate or invest in crucial technologies or talent? How did I get the other person/customer to act that way? Their handlers' guidance influenced the dogs’ behavior. Similarly, businesses need to evaluate how leadership impacts employee and customer behavior. Poor guidance often leads to poor performance. What should I do differently next time? Reflecting on past missteps is crucial. If the dogs had strategized differently, they would have crossed successfully sooner. For businesses, this means proactively shifting strategies and preparing for market changes before they occur. Businesses must continuously refine strategies and foster innovation to stay competitive in today's ever-changing market landscape. #BusinessStrategy #MarketAdaptation #StrategicLeadership #SuccessPrinciples