In our ever-evolving business landscape we all need to embrace change. It’s the only certainty there is. The main challenge that all business owners face is the need to develop a faster, improved model that will provide a competitive advantage. To achieve this, we all need to accept the importance of ‘business agility’.
Yet this will only happen if an organisation adopts high cultural standards, with the right values and behaviours. If individuals are empowered to be more adaptive, creative and resilient, then these behaviours will be transferred into the business.
To be better, faster and more agile, business needs to become more entrepreneurial. And by adopting this approach, businesses will have the ability to thrive in a rapidly changing economy.
An entrepreneurial spirit is not always innate, and it is not always about the lone wolf charging forwards with self-belief and optimism. It can be learned and nurtured. It’s as much about realising new ideas, interacting, empathising and collaborating with others, as it is about resilience and positivity.
By moving away from traditional models, both your people and your business will benefit. Giving employees a little free rein to explore and to question existing cultures and methods, allows a business to become more agile. This, I believe, is a necessity in our ever-changing world.
Being positive
Fostering an entrepreneurial attitude will mean leaders, managers and employees all needing to work closely together. They must collaborate and communicate as a team. Ideas can come from any one person in that team. And there needs to be a safe environment for employees to voice their opinions.
Hire people who share the same values and will blend seamlessly into the culture of the business ‘ and may even help to shape it. Freedom, within clear boundaries and a safe environment, encourages and fosters a culture of responsibility. Create teams that pursue their own ideas. Ask the question ‘what would you do?’ more often. Trust your people to apply their own judgement and give them the necessary authority to get things done. Then be prepared for brilliant things to happen.
Learning from failure
It is widely known that the big five tech companies (Amazon, Apple, Facebook, Google, and Microsoft) allocate a percentage of their most creative people’s time to pursuing other projects. It’s an initiative that led to the creation of Gmail. It is a successful policy that keeps experimentation and innovation very much alive. Without it, it’s difficult to invent the future.
Give your employees the opportunity to fail safely. Give them a chance to try out their ideas, or at least allow them to air their views on any topic. It’s all about listening, encouraging and ‘ whatever the outcome ‘ telling them their input is very much appreciated. This culture inspires a positive workplace and positive performance. Your employees will surpass your expectations given half a chance.
Listen and learn
Delegate responsibility, offer coaching, nurture mental wellbeing and allow your people to grow. All this can be achieved within a positive company structure. It’s also important to keep in touch with the needs of your customers and clients. Their requirements will change, and all businesses must adapt to take advantage of an ever-developing marketplace. Yet again, agility is the key.
You are nothing without your customer. So take the time to listen to all opinions ‘ big and small. Even the smallest of details matter. By paying attention, you make fewer mistakes and spot more trends. Not only is it good for business, it also builds trust with your customers.
The power of technology
Love it or hate it, technology has been our saviour during these unprecedented of times. It has allowed people to remain connected and be productive. Therefore it is vital to embrace technological advances.
It allows us to act faster and work better, so take advantage of it. Equip your people with the necessary technical skills and knowledge. The secret of your success may depend on ‘successfully merging the power of human endeavour with high-tech prowess.’
The businesses that will thrive in the future will have demonstrated an ability to be agile. They will have responded quicker to change than their rivals. They will have adapted their model to respond swiftly to customer needs. This means both administratively and creatively, and all by accessing the power of technology.
The time has never been more urgent to foster that entrepreneurial spirit, and unleash the potential of your people. This is how we build back better, while developing a happy, healthy work force. It will equip all businesses with the basic tools for facing this rather challenging future.
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