Posts Tagged ‘blue ocean strategy’

Change is good. It signifies forward motion. As you may have noticed, we’re sporting a bit of a new look here at KGI with our recently redesigned website. Which got me to thinking…have you ever stopped and thought about the value of redefinition?

No, it’s not a new television system. “Re-definition” is something many of us are afraid of. We start out doing X, but X becomes X and Y. Then we start offering Z to the mix. Now we’re no longer The X Company. We’re The XYZ Company. But our X clients may be drifting away while we’re adding new Z clients. Then suddenly, we wake up one morning and realize we’re The Z Company, doing something similar to what we started…but slightly different.

The good news is EVERY business travels this road. Remember, Bill Gates was once not a fan of Internet development. (Makes us laugh now, doesn’t it?) But when he woke up one morning with a queasy stomach, it was because he had an epiphany. He quickly realized that if he stuck to his guns, he would lose his competitive edge—and the world would leave him behind! What did he do? He spun on his heels and started running with the crowd. If he hadn’t, would Microsoft have ever become the powerhouse it is today? (Not if we were all still typing in DOS commands, that’s for sure!)

So, stop for a moment. Think about your business. Ask yourself, what roads have I traveled? What’s different about what I do now as opposed to back when I started? What do I do better now and what do I no longer offer?

For example, KGI’s method of consultation has evolved over time. We do many more things now than when we first started. Our clients have steered us in the directions of the problems they need solved—and that has led us to “redefine” ourselves in terms of what we offer. Why? Because our clients demanded it. And it’s always the strongest company who adapts to clients’ needs.

As many wise people have said, experience is the best teacher. As time passes, we must all adapt to rapid change. It’s the only way to stay competitive in an ever-changing marketplace.

Have you answered the questions for yourself yet? Look deep inside and see if it’s time to “redefine”. Maybe you don’t need to. If you started out as a financial operations consultant for mid-cap investment firms and you still do that, fine. But maybe you’ve branched out into operations or production. Maybe expertise you didn’t think was important (such as an operational background or production experience) is now your main bread-and-butter. If so, maybe it’s time to re-do your own website, write a new tagline, or even rename your company.

Change is good. Don’t fear it—embrace it and move forward!

If you’d like a laser-sharp analysis of your organization to see how a good “redefinition” might invigorate your team, give us a call at (888) 582-1118 or e-mail us at info@khanstellationgroup.com. We’ll pinpoint exactly how you may be losing marketplace edge by NOT redefining yourself. Are you willing to take the risk of not knowing? Call us today. It’s free to talk.