Iteration Is A Strategy July 1, 2013Posted by David Dirks in business strategy, Dealing with change, Solving Business Problems, Strategy.
Tags: business growth, business planning, business strategies, business strategy, David Dirks, dirks on strategy, growing a business, iteration
Does the Facebook of today look like the Facebook when it was first launched in 2004? Did Amazon perfect its business model of today in 1994 when Jeff Bezos founded it? Is the IBM of today the same as the IBM of say 40 years ago? Here’s another question for you: How many businesses hit a genuine business model home run where sales and profits start cranking out right from the start?
The answers to the above questions are “n0”, “no” and “once in a blue moon – if ever.” To iterate is to keep trying – keep pushing your business model forward. It’s tinkering with the engine until it sounds like all cylinders are working smoothly. In some cases, it’s challenging the very dream we have hold so dear in our business – the very vision we have might not be the vision that produces the life blood of any business – greater sales, growing profits and cash flow.
Iteration is a process that should be integrated into the culture of most any organization but rarely is. Here are some thoughts on the process of iteration:
- Don’t get married to your vision or dream. What? How can we achieve greatness without a vision we can steadfastly commit to? It’s not easy – if it was then iteration would be a breeze and everyone would be doing it. They aren’t – which is just one reason why many organizations fail within five years or less.
- Business plans are like war plans. Everything changes when the bullets start to fly. Yes, I know you spent a ton of time working and toiling over your business plan and it’s a great starting point but…when the reality of the business environment hits it, it’s over. Competitors don’t play nice or according to the plan. Customers are more finicky than the business plan sales projections call for. Things have to change when the bullets fly.
- Not everything has to change. Sometimes iteration means tweaking only what needs to be tweaked. Keep testing, changing, moving forward – throwing out what isn’t working and keeping what does.
- Challenge yourself to iterate on purpose. When you realize that iteration is a part of your business life if you want to succeed for the long run.
When you build a business…it’s about the long run isn’t it?