Avoid Being Complacent About What You Can Do to Accomplish 20 Times as Much Business Articles | July 17 A.J. Brown Womens Jersey , 2007 After you achieve a 2,000 percent solution, complacency can become a problem. This article looks at creating more beneficial economic relationships between organizations and their beneficiaries, customers, employees, suppliers, partners Jeffery Simmons Womens Jersey , shareholders, lenders, and the communities in which the organizations operate. Serving this wider, more successful population will, in turn, continually open up more ways to achieve additional exponential gains.
KEEP YOUR ORGANIZATION'S FEET TO THE FIRE ? Even If You Have to Start the Fire Yourself
If you have read The 2,000 Percent Solution Jurrell Casey Womens Jersey , The Portable 2,000 Percent Solution, or The 2,000 Percent Squared Solution (or articles drawn from them), you should now understand how to make rapid progress by overcoming stalls and developing new, more effective habits.
If you haven't yet read that material, I highly recommend you do. Let me describe some reasons why that reading will be beneficial.
You probably do not yet appreciate is how rapidly change can occur Kevin Byard Womens Jersey , and how large rapid change can be from pursuing 2,000 percent solutions (ways of accomplishing 20 times as much with the same time, effort, and resources or the same results with 120 the time, effort and resources).
After all, most people are thrilled to make a 10 percent improvement in productivity and will spend months working on such an incremental improvement.
Let's look at two examples, one from nature and one from business Derrick Henry Womens Jersey , to improve your awareness.
When Is It Time for a Change?
Many are taught that evolutionary changes in nature take millions of years. New research shows that major biological changes in a species can happen in as little as 14 years, as reported in Nature ("Natural Selection Out on a Limb," Ted J. Case, Volume 387, pp. 1-16, May 1, 1997). Common lizards native to the Caribbean were transported to small islands where they were not expected to survive because the environments were so ill-suited to the lizards. Instead of dying out Corey Davis Womens Jersey , most of the lizard colonies thrived because the lizards' bodies changed rapidly and dramatically to fit the new environments. Fourteen years after arrival, the survivors were as different from their ancestors as a jockey is from a basketball center.
People should be even more physically adaptable than lizards when placed in a challenging environment. We probably have the same genetic ability to shift, and we have the added advantage of being able to shift mentally more than lizards do. We can use that mental advantage to change our actions as well as adapt the environment in ways that suit us using tools we design. The question before us now is: How can a challenging environment make a difference for us in achieving a 2,000 percent solution?
Creating the Environment for a 2,000 Percent Solution
Let's turn to the business equivalent of the lizard colonies being relocated onto the new islands where they faced potential extinction: a corporate loser facing shutdown. This organization chose to fight the seemingly inevitable demise of its operations by focusing on approaching the ideal best practice. At the time of the decision, the company had the lowest profit margin (after-tax earnings divided by sales) in the industry, the second lowest market share (company sales divided by industry sales) Marcus Mariota Womens Jersey , the most debt compared to its equity, poor stock price performance, and customers who wouldn't buy the company's offerings unless they sold below everyone else's price. The goal was to improve to being an industry leader along all of these dimensions.
Within a year of making the decision to improve, the company expanded its market share by more than 50 percent, more than doubled its profit margin, improved its balance sheet to reach normal debt levels, substantially increased its prices Authentic Amani Hooker Jersey , and saw its stock price grow by more than 50 percent. After seven more years, the company's profit margin was the highest in the industry. It had almost tripled its market share, slashed its debt to very low levels and saw its stock price grow by more than 10 times the market rate. All of this improvement occurred in a commodity industry in which the annual unit growth rate was less than 4 percent.
The potential extinction made the officers eager to consider any reasonable change that might help. The 2,000 percent solution process gave them the road map for which changes to make.
Using new measurements, the officers identified which current and potential customers would provide the most profit and competitive insulation. From this examination, the company saw an opportunity to make a key acquisition that would greatly strengthen performance where the company was doing best. After the acquisition, sales efforts were redirected to the more ideal customers. Those steps allowed the company to reach about the fourth step in the 2 Authentic Nate Davis Jersey ,000 percent solution process during the first year. Business performance boomed as a result.
As well as this company performed, it missed greater opportunities because as soon as extinction was no longer a threat, complacency set in. The remaining steps in the process were never executed. Like the lizards in the Caribbean, they lazed in the sun in their new form ? enjoying the improved match with their environment.
Beware of falling into this trap when threats recede. Expose your organization to a new threat if you have no other way to avoid complacency.
Conclusion
What, then, should be your organization's goals? We encourage you to lift your sights to not only make great strides now, but to create the foundation for even greater strides in the future Authentic A.J. Brown Jersey , both for current and future generations of stakeholders.
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