Apr 10 – Are intangibles hindering tangible results? Is what is unknown causing you to hesitate or not fully engage in striving toward what you ultimately want to achieve? Are there things in your business you may not be paying attention to that are having a direct impact on results, profits, or effectiveness? Is your belief that intangibles are not necessary to focus upon in business part of the problem? Is what you don't know that you need to know the problem?
There is no way to know exactly what you may encounter or is ahead of you that could impact what you are trying to accomplish. However, the more equipped you are with insights and perspective, the better you are able to make momentum-building decisions. When reviewing profitability in your business, are you only looking at your P&L? Could not considering the intangibles within your offerings, target market segments, or geographic pockets of opportunities be limiting or sabotaging your profitability? Is a commodity mindset ruling your approach to business in viewing that people (customers, vendors, and employees) are easily replaceable? Is corporate culture viewed as something you will focus on when you have more time or money to throw at it, yet engagement and retaining good people or customers is a problem?
Take an MM&I Moment to awaken to the intangibles you may not be paying attention to in your business. Do you know what offerings are core to your business' distinction and which are value-added or no longer are relevant? Do you know where your greatest opportunities for growth exist geographically based on logistics, access to workforce, existing market share focus, existing customer concentration, and ideal segment concentration? Have you not taken a deep enough dive into the psychographic mindset of you ideal markets? Whether B2B or B2C, psychographics plays a significant role in decisions making and preferences. Could some of your "intangibles" actually be a game changer for what makes you distinctive against competitors? Could you transform an intangible into a tangible advantage? Is it time to gain insights in one or all of these areas for a more strategic, informed plan of action? What you don't know that you don't know is limiting you. Get insights. Get answers. Get inspired.
Wide Awake Quote of the Week
“Genius is the ability to see things invisible and manipulate things intangible.” – Joseph Joubert
Yours in dreaming WIDE awake,
P.S. Need a deeper dive into what may be the intangibles you aren’t paying attention to?
• The Intangibles Impacting Profitability
• Battling Against a Commodity Mindset
