Posts Tagged ‘Opportunity’

Move your people from Operators to Opportunists

Tuesday, May 6th, 2008

How many people really understand the difference between being an operator and an opportunist?

Traditionally

People are usually hired by businesses to perform a job function, usually defined in a job description or specification. Indeed the performance of many job functions is measured by key performance indicators (KPI’s) and bonuses are often tied to achieving these.

However, is that sufficient?

In these fast moving times, with new and better products, processes and services at every turn, and the unforseen market turbulence of recent times many business have recognised the need for change. Formal innovation programs have now been established as a means of equipping people with the tools that may enable them to go beyond their designated job function to add extra, perhaps even breakthrough, value to the business.

In addition to the innovation endeavour, a new horizon of “Opportunity” has now emerged as a means to move staff from operatives to opportunists, and the business risks in doing so are virtually non existent.

What is an Opportunity?

Unlike the dictionary, which defines the work opportunity as “fortunate intersection of events” – which is essentially “luck” and leads you nowhere in the opportunity search, a better definition of the opportunity is:

“An Observed Fortunate Set of Circumstances”© RLS 2000

Indeed, opportunities do not occur in nature, opportunities only occur though human observation.

Take the realisation of gravity as the force that pulls everything towards the earth. Gravity has been in place since the birth of the planets but it was not until 1665/6 that Isaac Newton made the observation that all things fall to the ground that led to his understanding of gravity and his gravitational equations that even today underpin much of physics.

If we accept this definition for the word opportunity, and its key word “observed” we can actually work to teach our people the fundamentals of observation that routinely result in an opportunity.

Can you teach people the art of Opportunity Capture?

Essentially the search for an opportunity requires just five fundamental observation criteria and eight ways of working on each and of these observations in order to explore new and different wealth generation activities for your business.

Opportunism does not have to be a matter of luck as many people may think. In fact the systematic search for an opportunity is perhaps a more reliable way of finding new business horizons than some of the quite abstract creative thinking techniques or innovation programs. Further, the beauty of opportunism is that it is largely market driven, and of course markets are the key to business growth.

Where to from Here?

Whilst innovation and its techniques may be one way to think about ways to build a business, remember, opportunism should also be embraced and perhaps be given some considerable weight in you business development program. If you can move your people from operatives to opportunists the outcome for the business will be extraordinary, and the risk in doing so is virtually non existent.

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Rising interest rates, maybe ‘tightening of belts’ – is this an opportunity?

Wednesday, March 12th, 2008

With inflation in Australia above the Reserve Banks targets, interest rates have risen yet again in an attempt to slow the economy and dampen demand. Is this a “show stopper” for business, or can it be viewed as an opportunity?

Traditionally

The Reserve banks uses interest rates as a questionable means of dampening demand and so slowing the economy, but in the last “sledge hammer” approach to economic control under Paul Keating when interest rates reached the dizzy heights of 17% and more, our balance of trade remained in the negative and consumers were still spending. Eventually, after many businesses “went to the wall” demand did damped and inflation slowed – but at what cost?

The ready availability of credit cards and the “must have it now” culture is one of the reasons that the impact of rising interest rates has little immediate effect on slowing the economy.

Notwithstanding the above, one thing is certain; as interest rates rise people do become more discerning with their expenditure. For the first time in perhaps more than a decade people now look twice at bills and purchases and compare alternatives with a little more rigour than before. Churn in now on the increase, and this is where the opportunity lies. Now is the time to win customers from competitors and increase market share.

Innovation is not the only answer.

Many companies embrace innovation (best defined as “Change that Adds Value”© La Salle 1999) of products, processes and services as a means to drive change and as a way of ever improving their offering and moving both their customers and businesses to an ever better place. Opportunism is perhaps another way of thinking, a way that is seldom even touched on by traditional innovation initiatives.

What is an Opportunity?

The dictionary defines the word opportunity as a fortunate intersection of events” or something similar, unfortunately such a definition is not a call to action for it fails to show one how an opportunity may be found.

Perhaps a better definition is:

“An observed fortunate set of circumstances (© La Salle 2002).

This simple definition underpins an entirely new search endeavour for business development and has the effect of moving the mindset of staff from that of merely operators to opportunists.

Make Opportunity your opportunity!

There are five important search criteria for finding an opportunity. People need to be skilled in the use of these and to work through the simple opportunity stimulants to find new unthought of initiatives. Not only does this work for businesses, it is equally valuable for personal, job and career development.

Be assured, opportunities are abundant, perhaps more so now in times when people are reviewing spending patterns.

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