Last week I gave a talk on ‘Unique Selling Propositions – The Innovation in the Outliers’. I presented a number of market trends. During my talk I encouraged participants to ask questions and share their own experiences.
One of the changes we talked about is the centralisation/decentralisation trend. Some companies are centralising resources, workflow, funds, and decisions. Others are horizontalising, spreading out the decision-making and resources.
A participant worked in the creative industry. He saw how there was a big push to decentralise products and services, work with a collection of contractors instead of one large entity, and seek revenues from alternative sources such as crowdfunding to get projects off of the ground.
Another attendee had a foot in two worlds: one product she was selling was through a highly centralised model and a second product she was selling was through a highly decentralised model.
There’s value in aligning yourself with a trend. There’s also value in intentionally not participating in it. To generate the most benefit for your clients and dollar for your efforts, you need to understand how your target market will want to receive their product.
Whenever you hear about market trends, I encourage you to think about these questions:
Have you recently changed some of your business practices to incorporate market changes? How did that work out for you? I’d like to know more about it.
When we think of budgets we often think of financial budgets. In my interactions with entrepreneurs and small business owners, I’ve come to realise that there are two other kinds of budgets: time and mental energy. These other two budgets also play a critical role in how well a business is run.
Let’s look at the first kind of budget: money. Tracking cash flow is an obvious budget. You don’t know how much you can spend (or should spend) unless you know how much you are earning. An obvious thing to do. Sometimes tricky to implement. But entirely doable.
The second budget: time. Something may be really interesting to do. The time it will take to do it doesn’t work with the rest of your schedule. Rushing from one project to another is exhausting. Eventually competing deadlines will conflict. When thinking of taking on new work – also consider how much time you have.
The third budget: mental energy. Sometimes you have the money and time to do something. You look at a project and think this could work. When you start getting into the details of the project, all of your energy starts to wane. It becomes difficult to get the simplest of tasks done. You end up hating the project and the work. That’s never a good sign.
When you’re deciding whether to take on new work, take into account these three budgets. If you are interested in the work but the project would stretch one or more of these budgets, approach colleagues to see if you can negotiate a better balance.
Let’s face it, it’s easy to get overwhelmed by phone calls, emails, office politics, deadlines, and personal life demands. All of these drains on our attention make it difficult for us to focus, be creative and invest in relationships that are truly important and worthwhile. It’s difficult as a leader to motivate others when you’re stressed, to encourage others when there are many distractions, and to engage in meaningful conversations when everything seems to be interrupted.
Instead of trying getting stressed about what you might be missing or not doing well, simplify simply:
Productivity doesn’t equal time sitting behind computer or hours worked. Start paying attention to your day – when do you feel focused, when do you feel distracted, when do you feel tired. Change one thing in how you organise your day to better align with your own rhythm. Experiment. Play around with scheduling
When distractions are carved away, people can see the work they really need to do to accomplish their goals. When the weight of being overwhelmed is removed, suddenly there’s all sort of energy and passion for the work. Simplifying all at once can be daunting. Strip away the busy and allow the productive to emerge.
Allo there ~ I'm Renée and this is my blog on leadership and business development. Here I explore the nexus between leadership, conflict resolution, networks, innovation and prosperity.