REIMAGINE YOUR BIZ - The second of 4 competencies to take advantage of post-pandemic opportunities and shock proof your business for the next unpredictable event.
The IBGR Network - The Hub of Success for Entrepreneurs and Business Owners.
It may seem we are mixing apples and oranges, it's not. IBGR's Agilerad.io launched its second season last week, 2 weeks ahead of IBGR's Season 5. The only difference between what is happening with our startuprad.io alliance and programming on IBGR is focus. This show and all programming with startuprad.io is focused only on start-ups.
The Season 5 theme is "Reimagine Your Future", our response to the pandemic and what happens next as the restrictions are lifted. You hear a lot of white noise about the New Normal or the Great Reset - attempts to sell you the idea that business will be very different. They are wrong!
Business is business. You make something, you sell it to somebody, they pay you, and now you try to keep as much as possible. You can make it more difficult if you want, we don't. It is that simple.
Instead, we have examined all the forecasted opportunities which are just variations of sound business practices. That led us to condense the modifications to four areas and the focus of this series:
This show we tackle Outsourcing
WHY IS THIS IMPORTANT
The term Outsourcing is part of consulting speak to identifying your core competencies and more jargon. It is a powerful concept because it asks early in the development of your business "what must you excel at? What must do better than the competition to be successful?"
I will de-jargon into simple language - what must you be obsessed with?
WHAT DO YOU NEED TO KNOW
From a management of the firm perspective, this is 2 issues. The first, as stated above, is to build around core competence and outsource the rest. The second and bigger issue is to outsource cost management of those functions. If the choice between building non-core functions or outsource is viewed in the short-term, outsourcing is more expensive. But when you take the longer view, the amount of management time and complexity is reduced and is a cost savings. This puts a premium on how well you select and manage the alliance and that leads to the third factor - Autonomation.
WHAT DO YOU NEED TO DO
"What must be your few obsessions for the business to work?"
This is a topic we will cover in subsequent shows and radcasts (radical radio recorded podcasts). Where we will leave it for more in-depth conversations over the next weeks is "to limit your business to the few competencies that matter and the remainder are candidates for alliances and partners".
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