Everyone is fascinated by start-ups. They are fast and agile. But, is that really the best business approach for a long-term vision? Is the breakneck speed, the frenetic environment and unpredictability the secret to business resilience?
The lack of stability in start-ups makes their future resilience questionable. Just look at the countless start-ups that rise quickly and then burst into oblivion or bankruptcy.
In the video below I explain what business resilience and agility is.
Resilience is our ever-changing market conditions combines the speed of a start-up with the stability of an old brand. It is the best approach for any business that wants to move quickly but remain in the game for the long term. Here are 5 signs that your business is resilient.
- Collaboration Across the Board
All members of the company, from entry-level to management, work in unison to achieve a common vision. Creativity is encouraged, but it’s measured against the vision.
- The Team and Business are Robust
Businesses will always face problems – caused by clients, competitors or a changing industry – but what really matters is how quickly the team and, by consequence, the business can recover from those situations. That’s the true power of resilience.
- Everyone is Empowered to Act
People in your company feel empowered to act, to voice their suggestions, to contribute to the growth and improvement of the business in one way or another. And most importantly, they have the necessary tools to do that.
- Quick to Mobilise
Is it easy to get things done in your business? Being quick to mobilise involves quick decision making, quick action and very little bureaucracy holding you back. A business that is quick to mobilise can take a concept to market in a quick fashion with great execution.
- Highly Responsive
Can your business respond effectively and with speed to regulation changes, to a competitor’s attempt to undermine you, to a PR crisis, to anything that comes its way? It doesn’t matter what it is, what really matters is how quickly and effectively you can respond to it by adjusting targets, routes, and learning from failure.