It is so easy for a business to go off track. We can relate to that ourselves! Becoming distracted by shiny new ideas and opportunities. Or simply the owner gets bored! That is why it is so important to define what you do so you can be clear on what you will not do so you can build a resilient business.
At ADAPT, we call this your Bullseye; the intersection of what you are passionate about, what you are good at, what your customer needs and what you can be paid for.
What you are passionate about
Your purpose should answer the question ‘what are you passionate about?’
At ADAPT, our purpose is to help owners build resilient businesses. We are passionate about:
- Small to medium-sized privately-owned companies
- People having the right to work in a safe environment – both physically and psychologically
- Empowering owners and leaders to be more successful
- Leadership capability
- Using data to drive better business decisions
What you are good at
A whole lot of passion with no competency is not a recipe for success. It’s essential to be realistic about your business proficiencies and where your strengths lie.
A business can always hire in or develop competence, but when you are trying to determine your Bullseye, you want to focus on ‘your core competency’ – the ones that are part of your DNA.
At ADAPT, we identified our core competencies, what we are good at, as:
- Understanding problems and constraints for small to medium-sized businesses
- Data platform development
- Taking complex concepts and distilling them for our market
- Walking the Talk – being the exemplar for The ADAPT Way method
- Empathy for Adult Learners
What your customer needs
You need to be crystal clear about what your customer needs. Sadly, we have seen many businesses fail because the owner assumed, they knew what the customer wanted.
Understanding your customer needs is not a do once, set and forget exercise. It is important for your ‘customer’s voice’ to be in every decision you make.
At ADAPT, we identified what we believe our customer needs:
- A coach/guide to help implement their strategy
- Someone who will have the tough conversations when they are not delivering or behaving badly!
- An understanding of the journey
- Simplicity – they are not looking to complete an MBA!
- Efficiency in learning and implementing – they are time poor
- Support to meet their aspirations – personal and business
- Support to do the ‘ON’ work
What you can be paid for
You need to establish a fair commercial exchange that the customer sees as valuable while providing financial security for your business. Your current commercial model might be spot on, but there may be some hidden gems that could lead to some innovations.
Being clear and aligned on your Bullseye provides a powerful guide and filter to make good decisions. Just ask the question – ‘Does this fit into our Bullseye’?
Get in touch if you would like to meet with one of our coaches and discuss how determining your Bullseye is an integral part of implementing a Resilient Business Strategy for your business!