Five questions that need answers if you want to future-proof your business
Finding the right questions to ask, is a real skill that eludes many, so I have done some of the heavy lifting. The answers to the following five questions will take you down the right strategic path to future-proof your business.
These questions may initially appear easy to ask and hard to answer, but the truth is that asking the right questions (as Dr Seuss noted) is actually the hard part. In effect; the question you ask ‘frames’ your debate. Imagine the Labor parliamentarians debating:
Should we knife Julia in the back?
How do we knife Julia in the back?
Two very different debates emerge. This is self-evident in a simple example like this, but when it comes to business strategy, we ask the wrong questions all the time.
In question #1, for instance, I ask the how you should embrace technology and not ‘should I adopt’, nor ‘which technology’ – but how. If I asked those questions instead I would be having a very different (and wrong) debate.
- How do I embrace technology to attract, convert and retain customers?
- How do I turn products into services and services into products?
- How do I involve customers in collaboratively creating products and services?
- What other distribution channels can I explore as a priority? (Not only online – there are others.)
- What must I do to get customers to want to belong to my community/tribe?
The answer to these questions will frame your strategic debate as you transform yourself to a future-proof retailer. Try it.
(There is ONE assumption and that is that the foundation of your existing business is sound - good systems, good brand, good service etc.)
I realise these questions may seem hard at first. You are welcome to call me (0411 030 436) or email (email@example.com) at anytime to discuss or clarify.