Is your check company light on?

Is your check company light on? | RootloudIf there is one thing that gets your attention, it is when the check engine light comes on. There are a myriad of things that could be wrong, but quickly getting to the real issue is of importance. If not, other areas may be impacted, costing more money to fix.

Because of the changes we’ve experienced in 2020, we assume the decline in our business is merely temporary (or is it?). Are we keeping our eyes on the data, talking directly to customers and listening to our people in the field?

Is your check company light on? | Rootloud
Mitch on applying the Hedgehog Concept. Client-Regulator Marine Global Boat Dealers Annual Meeting. Click image to watch

In Jim Collin’s Hedgehog Concept, we need to keep our eyes on three things.

  1. Do I still have passion for what I do?
  2. What drives our economic engine?
  3. Am I the best (or pursuing being the best) at what we do in our market? Realize that your economic engine may need repair and you may need to change or improve your engine (skills) in other areas to grow.

Look and listen carefully in order to determine if you need to replace the engine or simply a few parts. If your data shows you’ve declined, it is time to evaluate your economic engine. Look at sales trends, website analytics and run client focus groups. If you determine there needs to be a modification or new product/service, then a design thinking session will be most helpful. Because we don’t know the full impact of this virus (or the next one), we need to go deeper in the engine of our businesses.

For more information about how Rootloud could help you, get on our calendar today for a free 30-minute consultation.

Mitch Smith
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Sailing in uncharted waters or need guidance on next steps?

Contact Mitch Smith at 803.466.3220 or [email protected]