How is it that some organizations come out of economically challenging times stronger than they were when they went in? Beyond the obvious planning and strategies; how are they managing to think leaner, reexamine what passes for “standard operating procedure”, and getting more creative in terms of new offerings they can offer their clients.
When times are tough it’s hard to make those decisions to downsize or eliminate business practices that “got you here”, but it’s absolutely essential to think in terms of how you can best move forward into the future. For those of us in the consulting, design and construction industry, changes are happening at warp speed. The platforms that we use to operate, the technology and expertise needed, the very resources available to us are evolving more and more rapidly.
It’s not enough to be forward thinking, to make the smart decisions and to invest in preparing for the future; we have to be agile enough to continually adapt to changing circumstances on the ground. Adapting to our new business realities means that we have to be willing to let go of old practices that maybe aren’t working for us anymore, and replacing them with new ones that offer us a map to the future.
How do you find new ones? The obvious approach is to look over your landscape. Seek out a sampling o f your most strategically-focused clients and speak with them. Ask open-ended questions, keep the conversation honest and most importantly, listen. Listen for what their concerns are, and for the direction that they see themselves headed in. You have to conduct enough of these conversations to get beyond anecdotal information and actually identify meaningful trends.
There are two additional types of research that can flesh out your understanding of the landscape. The first step would be to research industry trends; there are many professional associations, specialty consultants and academic institutions that collect that type of data and share it. You can find these sources of information by word of mouth, social media, and good old fashioned web research.
Once you’ve done that, expand your focus. Move up to the 20,000 foot view to research global trends. This is a critical component of understanding the landscape of the future, and its frequently overlooked or undervalued. It should help you establish context for any major decision-making opportunities.
Now that you’ve developed a fairly clear understanding of the complex of factors that can potentially impact your future, it’s time to turn your attention inward. Again, listening is the predominantly important skill. Conduct internal team-member conversations; identify your existing resources, whether they are “hard” or “soft”, they are equally valuable in planning for your future. And where there are gaps, get creative to develop new assets to bridge them. Some investments require more than you want to make in a down economy; those may be the time to modulate and to take an incremental approach. There may be times when it makes most sense to throw all those chips down and make an investment; those aren’t the decisions to make without seriously understanding all potential repercussions.
So let’s say that new, dynamic, exciting opportunities were embraced. Now you’re marching happily down the path to your future. This is the time, more than ever, to measure and closely follow your results. Don’t take a step forward without having identified the goals and tools that can help you calibrate what “success” is. If you’re monitoring your progress constantly and adjusting as needed, then you’re strengthening your position. Agility is defined more as your forward momentum with some course correction as needed along the way, than your ability to stand still and dodge whatever comes your way. Because change will always come your way faster than you’ll be able to continually dodge whatever the future may bring.
What are the best tools for succeeding at this? A culture of transparency, of openness to new ideas and realities, clear communications (which is not easy, given some of the complexities we face) and a passion for always improving will get you there.
And finally, remember that some of the most successful organizations in our business world today have learned that it’s better in some instances to “give it away” than let it become obsolete… that way they’ve managed to position themselves as thought leaders who continually bring new value and vision to the world they work in.
Posted in Economic climate
Tags: architecture, construction, design, economy, engineering