Owning a business can be arduous, it isn’t for the faint of heart.
The responsibility and consequences of your actions ultimately all rest on your shoulders. What a heavy burden to bear! Do not despair, my friend, for even if the task seems insurmountable, there is a glorious freedom waiting for you. You may feel as if you are currently in a rut and becoming complacent in your business. Sure, the business is doing well enough, but there are competitors in your area that seem to be crushing it. What should you do? Trash talk them and hope that all the customers will come back to you? That’s definitely an avenue some businesses take, but we all know it isn’t the right one. Talking bad about other businesses doesn’t enhance your own, it only makes it seem smaller. You want your business to rise above all of that, to be so great that you aren’t even worried about what the other companies are doing. Let them try to keep up with you!
I have seen many examples of this over the years and I want to share a couple with you. Let’s see if you can determine when the companies got it right or wrong. I’m not going to use the actual names, because obviously, that would be a horrible idea. I will give them brilliant new fake names.
Big Joe’s General Construction Services (brilliant, right?) has been in business for 40 years in a mid-size city. They do contract work all over the country and were considered, for some time, as one of the top companies in their field. However, times started to change. The industry began to evolve and become modernized, but Big Joe’s remained the same. Several employees suggested ways the company could improve, but Big Joe’s would hear none of it, why should they? Their ways had always worked just fine. The disgruntled employees soon ventured out on their own to create a new company that we shall call Cornerstone Contracting Company. The new owners at Cornerstone wasted no time in establishing a cutting edge business and implementing all of those suggestions Big Joe’s had brushed aside. In just a short period of time, Cornerstone began to get jobs that Big Joe’s was accustomed to being awarded. How could this be, they had led the industry for years, certainly it must just be a fluke. The more jobs Cornerstone was awarded the angrier Big Joe’s became, they would not change their methods to compete with a business that they sneered upon. Big Joe’s attempted to discredit Cornerstone and shunned anyone that supported them. Employees were switching companies, they couldn’t find new hires, and therefore could no longer staff job sites. Sadly, Big Joe’s had reached its end.
Act-1 Children’s Theatre was opening for the first time and the owners could barely contain their excitement. Their dream was finally coming to fruition, a company of their very own, where they could share their passion for theatre and pass along all of the lessons they had been taught. The eager new owners decided to kick-off with a bang and, after launching their exceptional new website, they offered an open house to welcome the community. Those who visited the new theatre were quite impressed and enrolled their children. Kids and parents alike were excited about the new classes Act-1 was offering and appreciated their modern and organized approach. Miss Puffie’s Theatre for Kids and Bravo Children’s Theatre became concerned. These theatres had been around for years, it was baffling to think that a new company could appear and take some of their students. Instead of lashing out at Act-1, Bravo and Miss Puffie’s launched their own websites and social media pages. The two veteran companies slowly began to offer a small selection of new classes and reached out to welcome Act-One into the children’s theatre network in the city.
I am certain you are aware of which companies made profitable and honorable decisions and which one did not. Big Joe’s unwillingness to adapt to the current climate of the contracting industry, ultimately caused their downfall. Instead of focusing on improving their own business, they chose to be complacent and resentful. Miss Puffie’s and Bravo Children’s Theatre, did not sit idly by and watch the new children’s theatre corner the market. They worked hard to update their business practices and added new classes to challenge their current students. The city was large enough for all of the children’s theatres and each company was able to find their own special niche.
Have you become complacent or resentful in your business? Afraid to take that next step to launch your company from good enough to amazing? Do not be reluctant, YOU ARE CAPABLE. Your ideas are ready to share with the world. Make plans, implement changes, and then FLY!
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