To walk 3 beaches, thousands of miles apart, in the space of 4 weeks is rare for this Chicago girl. In awe of the ocean and ecstatic to complete my 10,000 steps, Fit Bit, challenge… curiosity swooped in, askingmy favorite questions: How is this like business? What can I learn here and apply elsewhere?
3 concepts helped me see market forces from radically different point of view: Erosion, Tides and Waves.
1. Erosion is natural.
Try as you might, you cannot stop erosion. Winds, rain, waves… all without malice or agenda, are scraping away at your beachhead. You can’t stop these forces but you can diminish their impact and take measures to reclaim beach area where erosion has occurred. As an entrepreneur you must stay ahead of erosion by acquiring more beach, stockpiling sand, adding retaining walls and harnessing resources to reclaim sand that gets washed away. Think of your customer base as subject to natural erosion. Take appropriate measures to consistently expand and protect it.
2. Tides are predictable!
The state of the tides determines your access to the beach and your maneuverability on it, affecting what you can or can’t do at any given moment. Low tide exposes more beach and allows easier access. When is low tide for your customers? What days of the week, times of the year, hours of the day are they most reachable? When is high tide for your customers and what, if anything, can you do during this period to make their business better: easier, more efficient, more effective? The good news about tides is they are predictable and can be determined with a bit of research and observation.
3. Waves create change and exchange.
Every wave changes the terrain. Market forces shape your business landscape in the same way. Waves roll in, leave their mark, and retreat, but they do not withdraw empty handed. Each wave gathers a bit of the environment and takes it back as it returns to the sea.
The beach and the ocean, your business and the market, are in dynamic exchange — constantly co-creating the landscape. When market representatives (employees, customers and everyone in between) interact with your business, waves are created.
You can intentionally influence the “take away” experience of your beach…confidence in your product, ease of purchasing, fun of doing business with you, etc. Having training and policy in place to help employees provide the “take away” you want is one “maverick move” Taking steps to infuse this objective throughout your company culture is another.
For example, one client, Hunter Express, chose WOW as the intended “take away” experience for their market (internal and external) and is successfully shaping their company culture around this objective. From sales, to distribution, to customer service the HX team is committed to the WOW experience and it shows up in everything they do.
Get clear about the impression you want to send back into your market. Be proactive and purposeful in shaping how your business and your brand are perceived.
As an entrepreneur you are always subject to the market forces of erosion, tides and waves. What “maverick move” will you make to put these forces to work for you?
What business lessons have you learned on location/vacation? Share your perspective and results in the comments below.
Ride like the wind!
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