I had the benefit of hearing Tom Pryor, author, growth coach and Executive Director of the Small Business Development Center’s Enterprise Excellence, at a recent event (more later on how you too can get invited to hear great business minds share their knowledge). According to Pryor, many of us are asking ourselves the wrong questions these days – specifically when it comes to the economy. Instead of contemplating, “when will this crisis end,” we should consider the following: How will it change the way we think, do business and our priorities?
Once we’ve divined satisfactory answers, Pryor encourages us to mine for new small facts that can make a big difference and provide competitive edge. He shared
The Idea Mining Journal, a tool created the Eureka Institute. The journal suggests we mine for ideas in three areas:
- uniqueness
- your customers
- technology
Pryor suggests we choose one task out of the business building trifecta and work on it for 30 minutes each day for an entire week. For example, you might look for ways to green your business and standout from your competitors. You could also poll your customers and ask them what they value about your business, and what could be improved. Finally, see how you can leverage technology to improve your business, making you more competitive.
Once you’ve gathered your data, Pryor suggests moving forward at a rapid pace. “People tend to make the wrong decision when they over think,” he stated.
"If you’re going to fail – fail fast, make it cheap and get smart."
Pryor spoke at the
Business Bites luncheon, a free event sponsored by The Alternative Board. They are held monthly in downtown Fort Worth and lunch is provided.
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