Photo (CC) by bark, on Flickr
Let’s start with two underlying truths.
First, you probably are near the point where your time is maxed out. It would be hard to add anything more and still manage to stay on top of everything at work and in your personal life.
Second, things change and there are always new opportunities and requirements coming at you in terms of running the business. Just look at some of my blog posts in the last 30 days – innovation, distinguish yourself, and tracking customer value. Each is a suggestion of something to try.
So how do you mesh these two truths that are each tugging in different directions?
Peter Drucker, management consultant and author, gave us an answer with his advice, “If you want to do something new, you have to stop doing something old.”
His statement acknowledges the fact that you just can’t keep adding new practices onto what you are already using. .
By practicing his advice, it forces you to ensure that your gain will be greater than your lose.
So often we get caught up in the new bright, shiny idea that we fail to look long term at what it might cost us. Yes, it’s great to be practicing the newest trend but does it really enhance your total return.
When considering the gain of doing something new in operating the business is no different then when consider adding a new product or service to your offerings. Does it strengthen your business position?
Staying abreast and taking advantage of new tools and techniques is necessary in building and sustaining your business. Just the time to do this though must be carved out of a busy day.
And if you wish to implement a new idea, you should think seriously about Drucker’s advice – if one thing comes in, another goes out.
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Glenn Muske is an independent expert on rural small business, working as GM Consulting – Your partner in achieving small business success. He provides consulting, and writes articles for county extension agents and newspapers across North Dakota. Previously, he was the Rural and Agribusiness Enterprise Development Specialist at the North Dakota State University Extension Service – Center for Community Vitality.
