“The definition of insanity is doing the same thing over and over again but expecting different results.”
You have likely heard the “definition of insanity” quote many times, but have you ever really thought about how its principles relate to running your business? You want to grow your business, increase work flow and acquire new clients, but are you continually doing the same things while expecting different results? Wanting it is not enough. What changes have you made in order to accomplish the growth you desire? For example:
You manufacture custom products. Custom products are often stressful to build and can be difficult to maintain as a consistent revenue stream, as closing projects like these can be challenging. What changes have you made to diversify your business and become less dependent on custom builds?
You are a business owner who keeps trying to increase your net profit. Have you looked everywhere in your business – including an assessment of the people on your team? One business owner I know has a very highly paid resource. The individual has been with the company longer than the owner. There are others in the company who can do his job, easily. Yet the owner has made the choice to keep the employee. The cost of that employee would all go directly to the bottom line.
Doing the same time often really means doing nothing at all. As a business owner, you must take action. It might just be one baby step at a time, but even incremental changes and improvements can kindle different, better results. Sadly, some owners are just content to keep doing things the way they have always done it.
Making deliberate decisions of change can be hard. There are positive and negative consequences, so it is important to think through the various scenarios and have plans in place for different situations. The tough decisions will make you a better leader and you will see the results in your organization.
Are you doing the same thing but expecting different results? If so, what baby steps can you take to start to change that decision-making process? Let us know.
By Blair Koch