Business as Usual?

Moving forward and adapting in a rapidly-changing and challenging business climate-doing “what you need to do!” 

Business owners everywhere, and in every sector, are seeing things much differently these days. We are awake, alert and finally fully paying attention. “Getting by” has been replaced by “get it done.” What’s worked before isn’t going to keep reaping the same benefits it has for years. We must be innovative, optimistic and do whatever we can to succeed. Problems we lazily overlooked in the past are now being dealt with because “we have to address them to survive and grow”. 

The public chastising of the automotive industry’s “big three” manufacturers made media headlines late last year. In the Dec. 29 issue of Automotive News, Rep. Gary Ackerman, D-N.Y., verbally took Rick Wagoner, Alan Mulally and Bob Nardelli to task when they appeared before Congress seeking financial support. His beef? Each arrived at the nation’s capital aboard private luxury jets.

“Couldn’t you have downgraded to first class or something or jet-pooled or something to get here?” Ackerman challenged.

However, the real issue is that businesses must make necessary changes. Keith Crain, editor-in-chief and publisher of Automotive News observed, “It will be painful for most of us, but you do what you need to do.”

This is the time to stand out, not blend in. How many times have you heard someone comment, “All cars look alike; I can’t tell one from the other.” Likewise, are you clearly differentiating your business from the competition? Do you know what sets you apart – your strategy? Execution? Culture? Structure? If you don’t know, it’s time to find out so you too can “do what you need to do”.

Look around. Businesses will succeed, but not by doing business as usual. You will need to adapt to today’s rapidly-changing and challenging business climate now. How?

Start by diagnosing your business in the same manner a medical professional would evaluate your health. Is your “company’s lifestyle” improving, maintaining, or eroding your quality of life?

Begin a comprehensive reassessment of your business plan, workforce, customers, operations, a review of your product mix and an analysis of what sets you apart from the crowd. This is the information you need now to survive and grow!

Change can be painful. But analysis can overcome the pain.

If you have comments or questions about this article, or would like more information on this subject matter, please contact us.
Michael Poole

Investment Banking
mpoole@pcecompanies.com
Orlando Office

407-621-2100 (main)
407-621-2112 (direct)
407-621-2199 (fax)