Paradigm shift is a phrase that many business people have a difficult time applying to their situations since it is not just something that happens around you. To make a paradigm shift, you intentionally question the basic premises upon which your own business is based. By turning premises upside down and inside out, you search for more effective ways to reach new markets, serve customers better, produce products/services more quickly, at a lower cost, and/or at a higher lever of quality.
Excellent examples of paradigm shifts can be found in the computer and automotive industries. As a result of challenging the basic premises about competition, corporations like APPLE, GM and Toyota are engaged in huge product development joint ventures. The creation of the Saturn Corporation was viewed by some as the ultimate paradigm shift because its approach to engineering is so completely different from GM’s.
One of the basic premises accepted by owners of today’s small business is that they need money to make money. Another premise is that entrepreneurs need to use different approaches than the corporate sector. This is certainly understandable give corporate America’s current struggle just to survive, but when you challenge both premises and recognize that smaller firms have the advantage of flexibility, new possibilities surface. Another premise worthy of being challenged is that you need to succeed on a national basis before even considering international trade.
We have been working with entrepreneurial companies on paradigm shifts. We use techniques like virtual corporations, strategic alliances, and joint ventures to translate the new premises into action to improve our clients’ bottom lines. One client is a virtual corporation with over 30 companies participating. Together they are competing for multi-site projects that would have otherwise been beyond the reach of the individual companies.
Known as The Growth Strategist® , Aldonna R. Ambler, CMC, CSP helps rapidly growing midsized companies (typically $20 – 200 million/year) realize their goal of Achieving Accelerated Growth With Sustained Profitability® through opportunity/resource analysis, executive coaching, strategic working sessions, and her intermediary role regarding growth financing. Her clients are among the brightest, most ambitious business leaders whose names now appear on published lists of the fastest growing privately held corporations. The recipient of 23 prestigious awards for her success as an entrepreneur and industry leader, Ambler hosts a peer-to-peer Internet radio program, aptly called The Growth Strategist™, which features lively interviews with CEOs of midmarket companies who have successfully executed the growth strategy of the week. She can be reached toll free at 1-888-Aldonna (253-6662), by e-mail at Aldonna@AMBLER.com or online at www.TheGrowthStrategist.com.