Spotting emerging opportunties is key, asserts she-at-work. And, reframing is all about
looking at a situation – differently!
Has the time come to reframe your business or reframe your future? We are indeed,
living through times where the pace of change has increased – we have experienced
the adoption of the ‘digital’, the emerging new work culture, to keep up with changing
markets and consumer expectations. The new landscape forces ‘reinvention’ – to help
businesses ultimately achieve growth.
As the world is dealing with the immediate impact of COVID-19, the business scene is
contemplating how they will survive and thrive in a post-pandemic world. Business
leaders today, are aptly focused on the huge challenges hitting business continuity
posed by the pandemic. Organizations are moving ahead to go ‘digital’ as fast as they
can and to adapt to the crisis better.
However, businesses need to look beyond the impact of the pandemic. So, it seems to
be the right time for businesses to think about ‘reframing’ – what their future may look
Reframing the business scenario
So, how can your business reframe its future? Where are the opportunities that will
generate future growth? How can your organization rebuild and operate, to improve
Business leaders now know that new problems cannot be solved by using the same old
solutions. They must keep their businesses agile to respond to changes in the ever-
evolving markets. So, reframing your business could be the opportunity to ensure it has
a sustainable future and, it also continues to be profitable. Likewise, entrepreneurs need
to look for creative solutions to keep their activities afloat, taking on different challenges
they are experiencing. But one thing is certain – when unprecedented challenges roll in,
there will be opportunities as well.
Here are some tips for businesses –
• Consider all options before you start reframing
To sustain any reframing you want to consider, first and foremost, ensure the right
operational structure is in place. Business leaders will know if a proper structure exists,
once they scrutinize critical angles of their business like: financial feasibility, expenses,
cash flow, existing clientele, lost revenue, and relook at the big idea that rules the
business’s methodology for providing solutions – in a unique way.
Plus, if you are looking at reframing your business, it’s likely that you already have an
idea of what might be going wrong; and that may lead you to your decision. A full
analysis of the business will need to be conducted to discover unknown problems
before any final decisions are made.
• Keep priorities top-of-mind
Consider the organization’s top priorities, as you are reimagining the framing of your
business. Are the priorities still aligned to proceed in the new direction? Priorities may
need to change, for they must reflect the current business climate. By establishing top
priorities, business leaders can ensure that any changes made will align with the vision
for the business; also it would be appropriate to consider how these priorities reflect
your business’s mission, values and goals; and also how the priorities reflect the
situation which caused the need for reframing.
• Moving forward
Now, do you know for sure, if your structures are in place to move forward? Regular
assessments can help you monitor progress after a reframing – to ensure efficiency of
optimal operations; plus, it will also ensure that the business stays relevant within your
industry and with your TG. It will also ensure that the team is adapting to and innovating
through the new way of business. Additionally, this will also create new opportunities.
As you move the organization forward into the next phase, be sure to maintain the ability to be agile – for it will ensure that future adjustments are easier to execute. Business leaders should take out time to become aware of any risks or any potential disruptions that may crop up. Scenario planning will help business leaders be prepared, should something change which would threaten the future sustainability of the organization. This will lead the way to operational efficiency & growth.
Spotting emerging opportunties is key. And, reframing is all about looking at a situation