Step out of the rat-race

It's time to look at your business from the side

World economic situation is bringing more products and services to the culmination of their life cycle than usual. Customers' habits and markets are changing, earnings are lower. Competitors are fighting the price war. Product maturity appears quicker.

Instead of accepting the rat-race it's time to step aside and reconsider your value proposition. As always, the lessons of history might help. Crises are different, at least their cause, but there is something in common for all. The top performers of individual sectors emerging after exiting the crises - the winners, didn't follow the books - the common recommendations of the pre-crisis, but found some new value proposition for their clients - or some very new way of work.

Value Proposition

There is no recipe for the shift. If there was one, all would use it. The usual shift of value proposition offers the customer some additional or entirely new benefit, satisfaction or perspective - regardless to the type of customer. In B2C world there are more emotional and satisfactional fields of shift, while B2B concentrates more to technical, process or functional benefits. History might help in understanding this. In aim of better understanding of this history lesson just make a time journey from i.e. WW2 till now and follow the evolution of perception of products and services in B2C and development of supply chains in B2B networks.

Some will say - that might be valid for others, but not for our product. Yes, that's true. Not for their product, but for their business. They don't dare. Majority needs a proven book to do a change and therefore remaining followers.?

New way of work

The new way of work is not necessarily a consequence of the new business model built on a fresh value proposition. New way of working might enable a fresh value proposition.

We can understand the new way of work in two different aspects.

First one is removing the barriers between peoples' brains. This can be a simple reorientation from silo structure to process-goal leadership, putting teams before individuals or even some more sophisticated working community approaches. The aim is bringing the brains together to the point.

The second one is not so much about people, but adding extra value by technical perspective of internal or external process. Digitalization might be a typical case. But note - majority of businesses digtise existing processes, while just rarely reconsider their business models by building its core on elements impossible before.

Let's illustrate the new way of work through a simple history view too - just imagine the efficiency of brainwork and innovation in a monumental 7 level hierarchy department organisation 50 years ago as a reference.

Introducing a new way of work is a much safer way ahead. There is no sudden challenge by the unreliable business model, just much more brains working together with higher efficiency. It should really be a misfortune if a fresh product is not born that way.

It's time to look at your business from the side. Talk to someone outside your business. The actual situation of our world is a great time to step out of the rat-race.