Put Your Concepts Into Action.

Entrepreneurs must be aware of new market and macro trends. They must then translate this awareness to adoption and adaption strategies. Awareness of complexities, surprising trends, and transformative events motivates small business entrepreneurs to think and act differently. In order to foster an awareness of the complexities, trends, and events that might motivate entrepreneurs to think and act differently, you must create a "change timeline" for your industry and your business, be it disruptive creation or nondisruptive creation. History provides a compelling perspective. For that reason, note the key events, trends, and developments that have taken place in your particular industry and in your company during the last 5 to 10 years. Below are a few questions that will assist in creating this timeline:

1.) What were the major products and services offered in your sector 10 years ago and what are they today?

2.) Who were your main competitors 10 years ago, 5 years ago, and who are they now?

3.) In the past few years what were the global events that have had an impact in recent years?

4.) What was the biggest concern of companies in your industry 5-10 years ago? Today?

5.) How has the dominant technology in your field changed over the past decade?

6.) Over the past 5 years, how has the quality of your work environment changed? Can you chart changes on a yearly basis in terms of your stress levels (on a scale of 1-10), crises, and workload (overwhelming, heavy, medium, mild, easy)?

7.) If you have been in business for a relatively short period of time, can you identify your most significant problem/s on a month-by-month basis?

Think with a historical perspective in order to create a flexible mindset. For instance, you recognize the necessity of investing in new equipment to ensure that your factory will remain state-of-the-art, but you also need to stay as liquid as possible over the next year because you anticipate some significant short-term expenses. The complexity is short-term versus long-term, and it is caused by an increasingly competitive environment. So in closing, cultivate a flexible mindset in order to overcome indecision.

Prof Rory Dunn.