“Are we like late Rome, infatuated with past glories, ruled by a complacent, greedy elite, and hopelessly powerless to respond to changing conditions?” — Camille Paglia
“History and experience tell us that moral progress comes not in comfortable and complacent times, but out of trial and confusion.” — Gerald R. Ford
“Success breeds complacency. Complacency breeds failure. Only the paranoid survive.” — Andy Grove
Like these iconic quotees know, complacency can consume even the most vigilant of leaders. Some may call it paranoia, others understand it as their main motivation for success. While reading an article about startups and the fear of complacency, I thought about well established businesses. Although they may have an established business model, staying complacent can be what kills them.
How the mighty have fallen.
Microsoft, which used to have a monopoly on the global consumer computer market, has had to compete with both Apple’s beautiful OS and products, as well as the global shift from personal computers being the only devices able to connect to the internet, to smartphones and tablets being thrown into the mix. Especially with the news of Apple’s recent decision to offer free OS upgrades, Microsoft’s business model seems to be deteriorating.
Via Extreme Tech
Kill complacency.
In order to be a thriving, innovative business you need to do more than stay up to date, you need to think ahead and anticipate the future of your industry.
Keep up with your competition.
Know what your competitors are doing. Track them. With social media and the internet in general, it’s easier than ever to keep tabs on your niche, or watch similar companies who are seemingly cornering a market you are interested in.
Facebook has a new feature called “Pages to Watch,” a module which allows you to track your competition (up to five pages) and stay up to date on how many likes they are receiving.
Understand current industry issues.
By understanding current industry issues and being part of the conversation, you can see possible opportunities and perhaps see a potential untapped market. Join in the discussion by participating in social media, commenting on blogs, and writing your own articles. Find key influencers in your industry, whether it be locally or globally, and learn from them. Go to events. A high energy event can motivate you to do more with your company.
Organization equals productivity.
Get organized. You may run a business and have a busy schedule but a well-organized agenda can help you make the most of your time. Check out our recent article, 7 Apps for Organization, Productivity and Efficiency. With apps like Tempo and Pocket, you can have a clear vision of the day ahead and avoid time-consuming tasks like searching for files corresponding to your morning meeting.
This FastCompany article, 7 tips for battling—and even embracing—procrastination, has some great points about procrastination allowing the ability to recharge, and tips on how to motivate yourself to complete tasks. For some people, creating to-do lists is what is inhibiting productivity in the first place. Read 6 Secrets of super productive to-do lists for tips on condensing and cultivating a to-do list that is actionable.
Evaluate your brand.
In addition to regularly evaluating your services and business model, it’s also important to evaluate your overall brand. Your visual branding elements may have worked so far, but is there something you can change to enrich your company further? With a new, fresh corporate identity, could you reach a new customer base / target market with just a few changes? Perhaps your company’s positioning in your industry may have served you well thus far, but could taking a stance on environmental issues or catering to a certain niche give you opportunities you didn’t have before?
As your market shifts, your brand needs reinvention as well. Don’t forget to revisit your vision, mission, and your approach — how you are communicating, how you are being perceived. As a branding company for advisory firms, we’ve helped many companies completely shift their brand perspective. An innovative Annapolis hotel contractor actually raised revenues during a downturned hotel renovation market by honing in on what made them truly stand out in the industry and repositioning itself as a greener, smarter solution for hotel renovations. Their rebrand also helped them refocus their core values, rethink how they did business and improve morale.
To better understand branding, corporate identity, positioning, differentiation, and bringing it all together, read more on our blog.
image via Ella Mullins
