Tuesday- a day dedicated to lord Hanuman (Refer: https://en.wikipedia.org/wiki/Hanuman) reminds me of another brave & combatant king, from the monkey clan, Bali or Vali (Refer: https://en.wikipedia.org/wiki/Vali_%28Ramayana%29). Bali was supposed to be invincible because of a boon that any opponent who stands in front of him would lose half his strength and the same will get transferred to Bali, making him invulnerable. Of all the things that happened between them and without going in details, Sugriva (Refer: https://en.wikipedia.org/wiki/Sugriva), much weaker than Bali, eventually ended by defeating Bali and succeeded as the monkey king.
Though there are various schools of thought on the above incidence, not limited to cheat, deceit, arrogance etc, one of the key lesson to be learnt is, ceteris paribus, the reason behind Bali’s downfall. In simple words it could be defined as status quo. Bali, being successful in the past, took his status quo granted for his future success as well. On the other hand, Sugriva, seeing the competitor’s strength, went forward with an strategic alliance, creating strategy and getting the same implemented. He changed the rule of the game.
The same logic applies to small, medium and emerging businesses. There is no guarantee that if something worked for you, or any one else, in the past, it will work in future as well. There’s a widespread problem of becoming complacent with the status quo rather than trying to move forward. I’ve witnessed some very promising businesses, with a potential to beat the growth trajectory, doing nothing but sitting at the same spot where they were some 20, 30, 40 or 50 years ago.
We are in an age where the market dynamics changes every day and at every turn. The rules are getting changed with the changing face of competition. A wrist watch or a camera company doesn’t necessarily have competition from another watch or camera company but even mobile phone companies. The same applies to any and every organization. Not all competitors are lucid enough to fall within same frame of vision. It is indispensable that small, medium and emerging businesses buck the trend, make necessary adjustments and bring innovation in their business model, process and overall approach. Remaining abreast of a contemporary trends is the best way to design and implement a equally innovative strategy. Eventually these few step leads to a satisfied customer, healthy promotion and a successful business.
A change in attitude is required in terms of the way a business is run. There are few many things to challenge your status quo and analyze your business, not limited to technology adoption, business model innovation, utilizing socializing platforms, organization designing and creating the subsequent plans and strategies.
When everyone is operating within the same market frame, freezing your vision to some past success would definitely create a future failure. The frame is limited in terms of size and you need to find out a blue, red, grey or any color ocean within the same. It’s good to keep reminding yourself that “change is the only constant” and getting adapted to the change is the best option to grow. Else, sit back and enjoy your kingdom to meet your Sugriva some day 😉 Thank You.