From Operational Excellence to Escape
Velocity
After reaching
operational excellence in your business, it's essential to focus on continuous
improvement to achieve escape velocity. Here are some specific activities you
should consider:
1.
Market and Competitor Analysis: Conduct a thorough analysis of the market and your competitors to
identify new opportunities and potential threats.
2.
Customer Profiling: Understand
your customers' profiles, behaviors, and preferences to tailor your products or
services to better meet their needs.
3.
Employee Needs Assessment:
Take the time to understand your employees' needs, whether they relate to
training, support, or career development, to ensure a motivated and highly
productive workforce.
4.
Financial Expert Consultation: Seek advice from financial experts to optimize your reserves and
investments for better returns and risk management.
5.
Continuous Learning: Enrol
in courses and workshops to expand your skills and knowledge and stay updated
with industry trends and best practices.
6.
Industry Networking: Visit
locations where similar businesses operate, attend industry events, and
participate in networking activities to learn from others' experiences and
exchange ideas.
7.
Expert Advisory: Bring
in business development, marketing, or innovation experts to provide insights
and strategies for further growth and sustainability.
Remember,
embracing discomfort during comfortable times is essential for minimising
potential challenges in the future and driving continuous improvement in your
business.
M.L. Narendra Kumar
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