• Liam Wall

The greatest asset of an entrepreneurial business is flexibility and agility. Right? Well......

Entrepreneurs in growing businesses have a greater ability to flex their operation to market needs than a super tanker sized conglomerate. The veracity of this view will be challenged increasingly as big companies are services based rather than being engineering or manufacturing based but lets assume for the minute we have a point.

The flexibility that is an asset for the entrepreneurial business is the ability to recognise changes in customer behaviour or needs and to provide the customer with a product or service that better suits them in terms of location, time, colour, style, convenience or price. This is an asset.

What is not an asset for any business is if that responsiveness tears down internal process or systems, or worse, prevents internal systems or processes being established. There is an old adage that if you business does what it said it would do, when it said it would and at the agreed price it is automatically better than 75% of all companies, as most organisations fail these simple tests. The only way an organisation can achieve that performance is with systems.

Being market responsive is extremely important but it must not come at the expense of internal systems and procedures.

If you are curious on this point, then ask yourself, when you last introduced a new product or service did it slot into existing sales, operations and finance processes or did they need bespoke arrangements?

14 views0 comments