Turning Around the Coming Storm
Likely Cause of the Opportunities
To fully be prepared, you must not only list the opportunities but their likely causes. As a result, you will be much more attuned to predictive indicators.
At this point in the exercise you will begin to see that many potential opportunities may be influenced by actions you can proactively take or influence. In these cases, the enterprise can build into its plans activities or objectives that may influence significant opportunities into occurrence.
To be fully prepared and not lose any time in exploiting the benefit of the opportunities, you will want to list the exploiting actions that you would want your team to take in order to fully realize the potential from the opportunity. Teams plan much more objectively before the urgency of an opportunity suddenly arises. Better judgment and a fuller marshaling of resources are made when contingency plans are built well in advance.
What Would Trigger Your Exploiting Action?
Finally, there must be triggers that will act like alarms to alert your team into action. Too often unforeseen opportunities linger on the horizon and even fade away when there aren’t trigger points identified that would alert team members that these opportunities have reached a tipping point.
Mark Faust is a growth advisor, professional speaker and founder of Echelon Management International a growth and turnaround consulting firm. His new book Growth or Bust! Proven Turnaround Strategies To Grow Your Business is available at all Barnes and Noble stores or contact 513.791.5158 or MDavis@BN.com for quantity discounts.