This is a very interesting post and a wonderful tool to analyze where we actually are in this current market!
Part 5 of 6
#5: COACHES CHALLENGE THE STATUS QUO
Living in the status quo can be a comfortable and safe place to be. If only we could maintain the status quo. An interesting thing about the world economy however is that status quo for all effective purposes means “out of business.” Changing market trends, shifts in competition and technology simply don’t allow us to remain in the status quo for very long.
Challenging the status quo is critical to our continued and long term business and personal success.
The Fifth Discipline Fieldbook contains an intriguing exercise called “The Five Whys” that can help to identify the origins of a business problem:
State a recurring situation (e.g. sales are falling) and then ask, “Why is this happening?” Write down the answer, and to that reply ask again, “Why is this happening?” (for example, sales are falling … why is this happening? Customers are opting out of email marketing … why is this happening? We’re sending them too many solicitations … Why is this happening?... ). Repeat
the questioning for a total of five “whys.” What emerges as the root issue may surprise you.
Once you identify your “root issues," you'll be well on the way to increased profits and growth.
John Alexandrov, CEO
Real Estate Inner Circle