Are you super challenged about the state of your business? Take note. There is a reason that old adages become old adages; it is because they say something true. Here’s an old adage that proves the point: “Sometimes we can’t see the forest for the trees."
We are so set in our ways, married to our systems and settled into our comfort zones that we are blinded to new concepts. While we know that we have business challenges that either prevent or slow down making our business bigger and better, we just don’t know where to start finding a solution to our quandary.
To the best of my knowledge this is a true story and a story that could help you as you hunt for a start point to improving or growing your business.
The story begins many years ago when a large very successful company (no names will be mentioned, but this has nothing to do with cars) with a sizeable world market share for its product began to see their market share decline, some would say crash each quarter as their industry changed.
By the fourth quarter of the year, the president of the company and the board of directors found themselves facing a huge challenge. They faced losing their company to financial ruin in a down market. Their stockholders were worried and their stock price was headed toward the basement.
All during the year, they had discussed many possible solutions, even calling in experts who made brand suggestions. They tried a few of the suggestions but those didn’t work and things were looking pretty grim. It reached a point that jobs were on the line from the president and his board of directors to the laborers on the assembly line. When nothing seemed to be working, the president of the company decided that the responsibility for finding a way back to solid business ground was his.
When the story was first told he didn’t say that he had a profound flash of business brilliance. He said that in a conversation one day he made a half joking statement to one of his fellow senior management colleagues—"If this company survives, wonder what the new guys will do that come in to take over our jobs?”
From that point, he started asking that question to everyone and used the answers to develop a new direction that addressed the industry changes and future end user needs. He shaped a new game plan for the company. The company made the needed changes, survived, and today is a world leader in its industry’s marketplace.
If you are stuck for a starting point, think like the new guy. Look at your business with fresh eyes; review what works and what doesn’t. Ask yourself "If you came in tomorrow as the new guy, what would you do to make your business bigger and better?"
Write down every idea that pops into your head. This is not the time to criticize or analyze.
Ask mentors and trusted business partners what they would do.
Think about the pros and cons later, right now the goal is to get new ideas. You can’t perfect an idea until you have it.
What would the new guy do? It seems like such a simple question, but it can work wonders for you.
Pat Earnhardt is a loan originator at Hearthstone Mortgage, who also provides coaching to LOs. You can e-mail Pat at
