I wanted to write this article for the many entrepreneurs that are balancing between the desire and pull of going after a grand vision and executing on the goal at hand.
This balancing act between the here and now and the greater vision of what you want the business to come is hard. It’s not a question of switching off as I’ve heard many consultants profess to companies they are advising on a monthly basis.
In technology companies, I see this a lot. You’ve got a piece of technology that can do many things and more importantly could become the central point for innovation, ideas, car sharing, accommodation or much more. The business wouldn’t exist if you didn’t have this grand vision, don’t lose it. Keep it as a vision, an inspirational direction of where you are going. A true north! This is the real role of a CEO.
Although how do you balance between becoming a bigger solution, a bigger company, a bigger idea, a bigger movement without relegating the critical projects and tasks and activities that need to performed now. For me this is where having outcome-based goals for a quarter and the projects underneath them as enablers give you the clarity you need to go out and execute. After all I’d rather work on a project for two weeks and complete it and move onto the next project that adds up to my quarterly goal being achieved.
How many critical projects could you achieve in a quarter?
Away from execution for a second – a concept that I absolutely love! With a tech company growing their app or platform, an easier way to think of it is:
- What is the customer or user experience?
- What problem can you solve today that is their biggest pain?
- How does your app or platform make that possible?
The other warning sign of this challenge becoming real is that your marketing and your website are in conflict or not clear. Therefore you might be trying to squeeze in as much value to your booking form or your demo but ultimately what is the real pain that you are solving? Marketing would not be effective if it simultaneously marketed your 7 value points in one go. It would be an absolute information overload.
The second warning sign that is very common in the tech sector is an over-reliance on funding as the company thinks that they need more traction, more marketing, a better product or a bigger team to capture market opportunities. Often this is about a compelling message that hits a real everyday problem for that target customer.
The third warning sign is that you don’t have real depth in your customer base. Once you have acquired a customer in a sector, vertical or even serviced a particular persona you have not go on to sign another 10 customers in that space. That’s when you become affiliated to an industry, geography or sector. Why wouldn’t you double down?
Therefore, I urge you to think of the journey and experience that your customers goes on before your app or platform is integrated into their workflow and now what does the new experience with company X supporting it look like? It’s this relation between the status quo and the new alternative which builds this gap, the pain and the urgency to change.
I’d be interested to hear more about some of the challenges that you are experiencing, comment, connect with me, or simply just smile and say…hmm that’s interesting! 🙂