By Doug Van Dyke, Leadership Simplified, www.leadershipsimplified.com

There is a joke about two campers who, one morning, stumble upon an angry bear in the woods. The campers get a running head start, but the bear pursues them. As they pass their campsite, one of the campers stops and begins putting on his running shoes. His baffled friend asks, “What are you doing?! You can’t outrun a bear.” Smiling, the running-shoed camper replies, “You don’t understand, I don’t have to outrun the bear. I only have to outrun you!” 

My father-in-law is an avid camper; he likes that joke. Many business leaders are, in a sense, living that joke. What I mean is this: too many businesses are thinking about surviving or “outlasting” their competition, as opposed to taking a look around and smelling the glorious aroma of opportunity. You know, these days, just by merely presenting a genuinely positive demeanor, you can differentiate yourself from your competition. Remember, each day we have the power to choose our disposition!  

It is amazing what a tweaked business model and unique pricing can do to make a business soar. Consider the example of Google. They did a great job of creating a fine search engine, but, in the beginning, were not making any money. They embraced the concept of offering online advertisements and began to create critical mass. Then, they allowed customers to bid on what they would pay to be ranked higher for certain keywords. Brilliant! In fact, Google has not stopped increasing the number of their service offerings or the diversity of their revenue streams. They are a classic example of a company that is passionate about what they do; delivers a great product/service; and knows how to make handsome profits doing it. Don’t you just love Google? Ah, I digress. 

My point is this: Gut check your business model and make strategic tweaks to your tactics and revenue streams. Personally, I think businesses need to reinvent themselves (or at least ponder reinvention) every four years. Strategic planning is a beautiful thing, and along the road to reinvention, some solid strategic planning should take place. Note: coupling strategic planning with salient action planning can be positively life-changing – or at a minimum, business sustaining. 

So what actions can entrepreneurs, corporate executive, and not-for-profit leaders engage in to update their business models and to expand the texture and scope of their revenue models? Luckily, five ideas are presented below: 

0. Roundtables. Gather five to seven of your brightest and most outspoken customers in order to pick their brains about your business. Do not forget to ask them questions about their forecast for general business trends. It is amazing the amount of great ideas and meaningful feedback that can be shared by the people who value your goods and services. Tip: Make certain to give a creative gift to each participant as a thank you for their time, energy, and thoughts.
    
0. Brainstorm. Many great ideas are patiently waiting to be unearthed right under your own roof. Tap into the brain trust of your organization or your entire team. Ask them fantastic open-ended questions that get their brainstorming juices flowing. For more information about the process of brainstorming, revisit my January 2008 newsletter which was cleverly titled: Brainstorming. Tip: Involving your team members during the brainstorming stage creates greater buy-in during the implementation stage.
    
0. Strategic Allies. In order to refine ideas and potential strategies, touch base with your strategic allies. Share with them the recommendations that emerged from the roundtable and brainstorming sessions. Chances are good that they will have some additional ideas of their own. At a minimum they will assist you with necessary tweaks and prioritization. Tip: When connecting with your strategic allies, reinforce the type of referrals you enjoy receiving from them. Be specific, and make certain they are clear on how to best refer business to you.
    
0. Action Plan. Place the refined and prioritized ideas you have assembled into an action plan with headings such as “Tasks,” “Who Owns It,” and “Due Date.” The Acton Plan is an easily understandable format that will resonate with your team during the implementation phase. Tip: As you review the future actions, be pragmatic about the amount of bandwidth available in your organization.
    
0. Implementation. Ah, few things are sweeter than successful implementation. Give your team the best opportunity to be successful implementers by choosing the three to five action items that will make the biggest impact on your business. Focus on those first. Digest them. Once they have become part of the fiber of your organization, move on to the next set of three to five. Tip: To the best of your abilities, reward your people for their successful efforts. Be specific with your praise, and make certain that tangible rewards strike an appreciative chord.   

Bottom Line: Stop trying to outrun the bear. Instead, use your noodle and figure out how the bear can lead you to honey!     

Doug Van Dyke is a leadership and communication consultant, executive coach, and business planner. His all-time favorite bear is Yogi, although the little bears from the windy place are a close second. For more information about strategic planning read Leadership Simplified – THE Field Guide for Savvy Leaders. Various audios and videos are also available at www.leadershipsimplified.com. To learn more about consulting services, coaching, and training, or to have Doug speak at your next event, contact him today at .(JavaScript must be enabled to view this email address) or at 941-776-1121. 

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