In our last post, we discussed and shared three areas of your business where mediocrity MUST not be tolerated. You can read that post here.
Today we’ll talk about the dangers of being mediocre and how you can get out of it if you’ve found your business already in a mediocre state. So…..
To be mediocre is to be less than average and ok with it because I believe it’s a state and not a phase. A phase passes by but a state remains and abides.
Being mediocre, of course, leads to loss of customers and ultimately business closure. Why I believe mediocrity is a state and not a phase is because certain businesses remain in this state for years and years and that’s why I call these businesses “walking dead” businesses because they are alive -still operating, but in reality are a dead business -no growth in them.
Mediocre businesses do not and can not grow and I’ll tell you why as I share with you 4 (four) dangers of being a mediocre business.
Mediocre businesses do not and can not grow
The industry and market leaves you behind
As a mediocre business, you cannot keep up with the change of your industry / market. It’s like getting a PlayStation (PS) 2 console now and trying to play a PS 4 game disc on it; it’s not just possible. When you offer less than standard services and products or when your business processes are the PS 2 console and the market / industry standard is the PS 4 game disc, I mean, you’re far behind the standard and this is even more expensive to maintain; this leads me to the next danger of being a mediocre business.
It is expensive to operate and run a mediocre business
If the industry standard is now a PS 4 console and your business is still using PS 2 standard processes, you need to go the extra mile to still maintain the old process functions and old products. This extra mile means extra cash. It’s more expensive the run a mediocre business.
Your business becomes reactive and not proactive
Businesses ought to be proactive. The best organizations in the world are proactive organizations; organizations that identify market / industry opportunities and act on them -these are proactive businesses. They set the trends in the industry. Mediocre businesses can only identify the industry standards, talk less of industry opportunities. A 2 years old baby cannot run before crawling and then walking. A mediocre business’ dream is to get to the industry standard and because of this they are limited to various industry opportunities. This leads us to the fourth danger of being mediocre.
A mediocre business’ dream is to get to the industry standard
Limited industry opportunities
Since you are now reactive and not proactive, industry opportunities are limited to your mediocre business. You find yourself having the same target market for years, not that this is wrong but when it’s coerced on you and not choice you’ve made, it is wrong. Your business should be able to breach your initial target market and expand / increase your influence. A mediocre business is like stagnant water.
If you find your business in this situation, is there still hope? Is my business doomed eternally to mediocrity? If not, how can I get out this state of mediocrity?
The answer seems simple enough – Change!
Change to what? How do I go about this change? Good questions.
You can either change from your mediocre state to the industry standard or you can take one step ahead and change to a trend setter.
How can you go about these two changes: I.e change to industry standard or industry trend setter.
In change and innovations management, there’s what we call Evolutionary change and Revolutionary change.
Evolutionary change is an incremental change (another name for it). Here, your mediocre business can implement changes in an incremental manner -first change to industry standard before attempting to become a trend setter. This style of change has it’s advantages and disadvantages. It’s advantages are 1. It’s less capital-intensive. 2. Change resistance that arises can be managed better than in revolutionary and 3. It gives you a better measurement system. It’s disadvantages are 1. While you are changing incrementally, the industry might have a disruptive, revolutionary change. 2. It takes more time to achieve than revolutionary changes.
On the other hand, revolutionary change is a disruptive change (also another name for it). In this style of change, your mediocre business can bypass the industry standard and become an industry trend setter. It also has its advantages and disadvantages. One advantage is that it happens all at once without wasting too much time in the implementation but it very capital and time and resource intensive because of the nature of it. Not many organizations can pull this off.
So now you know the dangers of being mediocre and what to do if you are a mediocre business, what possibilities you have in front of you to change to and how you can get there.
Ya’ats Advisory Services can move your business from a state of mediocrity to industry trend setters. We can help you take step by step measures of this move and manage the change resistance that will arise by this business move. Contact us!
Do not be a mediocre business! Do not settle for less!
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