Five Ways to Transition Into An Agile
Women’s Venture Fund
The keys to business growth are in your grasp once you become more strategic in managing your firm. Adopting the characteristics of an agile business leader can ensure your success as an entrepreneur. That means adapting to changing market conditions, being flexible in solving problems and knowing how to realign resources and modify goals. Here are the must-haves to achieve agility:
#1: A keen sense of self-awareness: By knowing what you do well you become more confident as a business owner. This ability to identify your strong and weak points allows for self-improvement. Hiring and asking for help in areas where you are less skilled or knowledgeable are key outcomes of self-awareness that will positively impact your efforts to build an agile business.
#2: Always be ‘swotting’: Being strategic in management means knowing your business’s strengths, weaknesses, opportunities and threats. Creating and adapting a SWOT analysis should be at the core of your business planning.
#3: Are you even keeping up with marketing trends given the many responsibilities and time-consumng activities of being an entrepreneur? Here are tools both paid (with free trial subscriptions) and free. Start by setting up a google alert on a competitive company!
#4: Make strategic decisions: The first step is to identify which decisions impact your day-to-day operations and which may affect your strategic direction. Bigger decisions tend to apply to strategic goals so use your time and resources wisely—nail down the efficiency of your daily operations in order to more clearly envision and execute on your vision.
#5: Learn to love your numbers and the information your data can provide on customer needs and preferences, vendor quality and costs and seasonality to name a few. Think this is beyond you? There are two paths to address knowledge gaps: hire an expert (i..e., a business analyst) or invest in continuing education for yourself.
You can become an agile business leader by cultivating the right mindset and tools. Join us today at the free workshop: Business Agility for Savvy Entrepreneurs.