Business Strategy: what happens when everything else fails? – Go back to the basics
“When in doubt, go back to the basics” is a phrase that is widely known and used repeatedly not only in general business strategy but in every field of our lives.
clichés might seem boring and that they are not up to the cutthroat business world of today, but they are cliches for a reason – they work!
We are always looking for innovative and disruptive ideas, something new that will boost our business from the ground up. We are always pushing ourselves and those who work with us to come up with that new idea that no one else has thought yet.
If you read the business news, there are always featured articles about groundbreaking startups, unique ideas and how they change and take the business world a step forward.
The truth of the matter, though, is that a never-ending chase of that disruptive idea is not always the optimal solution. It’s easy to get disoriented along the way and waste all your energy and time towards the wrong direction.
During our business-lives we will face difficulties and stagnant periods with no progress or hope of success.
At those times most of us turn to the chase of the new idea but you shouldn’t always resort to this method.
It may seem that this is the preferable solution but it isn’t. Sure some rare times, that idea will strike up and seemingly magically solve everything, but most of the times you will just lose time and deteriorate the state of your business as well.
Instead, you should go back to the basics. As I said before clichés might seem boring and “old news” but they are called clichés for a reason: they do work.
The business world always pushes us towards the risk: there lies the success, there are the money, risk or you will achieve nothing, no risk – no gain and so on.
While this is true from time to time, there is nothing wrong in taking a step back when in doubt.
Actually, if you go back to the basics you don’t take a step back rather than take a breath and reassert yourself the right way.
Use the already proven to work methods and take some time to clearly think and overview your situation and choose your next step without the fear of a major loss.
Business clichés and methods are low-cost (financially and otherwise) and they can get you back on track. Remember how you first started, or if you are starting now there is no better time to try them.
When times are good we get drunk with success and the potential for much more and it’s easy to lose track and forget about the rudimentary details, but when things become darker and ominous it is essential to stick to the basics, to the methods and strategies that took our hand when we first began and drove us to where we are now.
Back to the basics ideas should be implemented in the strategic planning of every business.
Look where you are now, remember where you have been, and note down where you want to be in the future.
Choose wisely the strategies needed to get you there, work accordingly and stick to your plan.
Most businesses in the race to success seem to forget the most elementary goals. In the end, what is the core of any good business? – customer satisfaction.
Yet everyone seems to forget in the name of lowering the cost and increasing the profits.
Don’t sacrifice your core values for a vain cause. Customer satisfaction should be the A and Z of your strategy.
In the end, that’s what matters. Your customers want to feel that they are valued, even if some other factors are turning them away (e.g.: higher price) they will prefer your services to any other that doesn’t do all he can to offer but the best.
It doesn’t matter if you sell flowers at the corner of the street or you are an aircraft manufacturer; it all comes down to your customers and them feeling appreciated and valued.
Business strategy – go back to the basics:
- Customer satisfaction
- Personalized services and relationships
- customer treatment evaluation
- Don’t get blindsided by the chase of lowering the cost
- Stick to your goals and business standards
- Keep your promises
- Don’t try to cheat your customers
The goal as a company is to have customer service that is not just the best but legendary. – Sam Walton, Founder of Wal-Mart
Make a customer, not a sale. – Katherine Barchetti