What Lies Ahead For Businesses in 2023?
Lois Sonstegard, Ph.D., ACC
Revenue Growth Consultant | Build Collaboration Systems| Scale Start-ups & Entrepreneurs | Grow Leaders.
Will the Great Resignation continue??
That’s part of the uncertainty businesses will experience in the coming year. One thing for sure is that businesses across the country will face continued inflationary pressure and an economy in disarray in 2023.?
But, at the least, the disconnect between employers and employees will continue.
In 2023 and beyond, successful companies will be results-driven, coupled with a tenacious attention to holistic systems processes.?
Their leaders will be resilient and move the company from short-term to long-term planning.
Their #1 business priority will be the customer experience with a focus on profit following (resulting from customer experience focus).
Resource Expansion Through Collaboration Partnerships
Successful companies will save resources, reduce expenses and grow profits through use of collaboration models. This starts internally at the company first. Management will identify problems and form collaborative teams to address and solve those problems internally.?
Next, companies will seek collaborative partners in the business community to grow resources by collaborating on shipping, warehousing and storage, administrative resources, etc.?
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A Word of Caution
Remember, collaboration is not for everyone. Some people are not suited to working in a collaborative model. They don’t see themselves as collaborators. Rather, they are – and will continue to be – competitors.?
Therefore, it is essential for the success of your collaboration efforts that you select the right partners. Partners who will collaborate, not compete.?
It is also essential that you identify the problem that the collaborative team will address. And make sure that they can solve the problem.?
It does no good to put a collaborative team together, only to find out weeks or months later that the problem the team was created to address could not be remedied.?
The Future of Business Will Be Collaboration as the New Capital
Lois Sonstegard is the Chief Executive Officer of Build2morrow in Minneapolis-St. Paul, MN. She is a management consultant, executive coach and advisor to C-suite level executives. Lois is a strong proponent of collaboration in the business world. She sees it as a positive and necessary model of modern business.?
In fact, she acts as a neutral advisor to companies in collaboration ecosystems. She helps members of the ecosystem to collaborate, working together for the collective good of the group.?
She is running a Collaboration Incubator on April 20 – 22, 2023, in Minneapolis. It will be a three-day workshop in which Lois will show you how to build a collaboration ecosystem, both internally and with other businesses.?
Guiding Executives in Leadership Issues. INTL | Certified Executive Coach | Leadership Development | Emotional Intelligence Assessments | Expert Leadership & Entrepreneur Coaching | Ph.D. Psychology
1 年Beautiful!
?? Certified EOS Implementer | ?? Helping Personal Injury Law Firms & Law Firms With a Vision & a Purpose Run Seamlessly | ?? Let's Break Your Growth Ceiling! ?? Make More Money While Making a Difference!
1 年Great concept, love seeing it on our feed!
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1 年Thanks for sharing your wisdom.
Continuous Improvement & Operational Excellence via Lean & Systems Thinking | Streamline Processes | Define Roles & Responsibilities | Eliminate Process Waste | Certified Lean, Six Sigma, Project Mgt., Supply Chain Mgt.
1 年This is great!
B2B Lead Generation | Featured on Forbes | "Marketer of the Year"| International Speaker | Best Selling Author
1 年Brilliant Lois! I am such a HUUUUGE believer in collaboration. Love to see this used by tons and tons of organizations to further their mission!