Businesses are constantly experiencing change, whether it is intentional or due to external forces. During these times of instability, it is crucial for business leaders to reassess their company’s goals and make necessary adjustments. Here are some tips for reevaluating business goals during times of change:
1. Keep the customer at the forefront of all decisions: Antreas Koutis, the founder of Financer.com, believes that prioritizing customer-centricity is essential for staying in line with market changes. Listening to your customers and incorporating their valuable insights can offer valuable feedback on how to stay ahead of the competition.
2. Detach from emotions and be realistic: Parissa Behnia, founder of Sixense Strategy, suggests that business leaders should emotionally detach from their ideas and understand that customer behavior and the market never lie. Setting goals within the context of relieving the customer’s “migraine” and providing efficient solutions can help businesses align with their customers’ needs.
3. Write down long-term goals: Matthew Ramirez, founder of Paraphrase Tool, advises writing down long-term goals during times of stability to help make wise decisions during volatile times. By staying on track with long-term goals, businesses can avoid getting off-track and ensure strategies align with the company’s vision.
4. Set hard and soft goals: JM Littman, founder of Webheads, suggests setting both solid, unmovable goals, such as revenue targets, and “soft” goals that can adjust to a company’s evolving trajectory. Reframing goals based on feedback and switching strategy when necessary can help improve business goals and overall success.
5. Listen to your team: Volodymyr Shchegel, founder of Clario, emphasizes the importance of soliciting feedback from the team during times of change. By taking their input and implementing changes that benefit them, businesses can keep their team engaged and informed.
6. Stay current with the times: Mark Valderrama, founder of Aquarium Store Depot, suggests businesses remain flexible in adopting new workplace norms, technologies, and trends. By staying relevant and keeping values aligned with new workplace changes, businesses can remain efficient and effective.
7. Get advice from an expert: Jenna Nye, founder of On the Strip, believes that business advisors can offer valuable insights during times of uncertainty. Business leaders can benefit from a fresh perspective and objective advice, enabling quick and informed decision-making.
8. Discover new opportunities: Rameez Usmani, founder of The Stock Dork, encourages business leaders to explore new opportunities, especially in times of change. Looking for new possibilities and switching strategies when necessary can help businesses thrive and adapt to market changes.
9. Advocate for change, not against it: Alekh Jindal, founder of Keebo, encourages business leaders to embrace change and become part of the solution. Leading by example and advocating for change can empower businesses to adapt to new trends and remain nimble.
10. Determine what is working and what is not: Timothy Woods, founder of Carnivore Style, suggests revisiting initial plans and reevaluating results to determine what works and what doesn’t. Updating tactics and strategies based on feedback can help businesses stay relevant and improve their overall success.