Turning Learning into Action

There are so many different ways businesses must continue to learn in order to evolve to meet the needs of todays customers.  Large corporations are using lots of tools to gather data constantly to measure their performance but also the predict future behavior.   They then use those predictions to modify how their product or service is offered and delivered in the future.

Though small businesses may not have the massive amounts of data, like Amazon or Google, you do have the data that is relevant to your business.  Do you have standard metrics or key performance indicators that are linked to your strategic goals?  Are those metrics used to assess the progress at achieving your goals?  Not all of your goals will have an easy metric, but there should be a measure to know what it looks like when you have reached or exceeded that goal.

Something everyone could do right now to take a step towards learning: List the top 3 things in your business for 2019 that was amazing, done really well or achieved the goal you set, then list 3 things that missed their mark or didn’t achieve the result you were hoping for.  Really investigate the 3 things you did well.  Why did they succeed?  What made those items awesome for your business in 2019?  Now look at the 3 things that could have been better.  Is there anything that you did really well in the first 3 things, that could be applied to the need’s improvement items?  Can you leverage the successful things into your competitive advantage?  Does it fit into one of the Elements of Value?  Can you expand your strategy using those techniques?

All of that process is a learning process.  If you can define what went well and apply that to other areas within your business, you will have a competitive advantage over your competition.  The key is taking the time to look for what makes you successful, even if you feel like you are struggling.  If you can’t see the forest for through the trees, ask for help. Often times others can see things we miss when we are in the thick of the day to day operations within our businesses.

If you want help developing your competitive advantage contact Sowles Consulting.  I can help you develop meaningful goals, with measurable action plans.  Are you going to make sure your business is translating learning into action?