Five Minutes a Day: Business Awareness

The correlations between sports and business are uncanny…and oftentimes trite. However, I will take a “shot” (hehe – that was a clever reference to basketball) at this anyway.

What makes Chris Paul so great? Is it his competitiveness? His unwavering trust in his teammates? His smooth, radiant skin? While it’s safe to say “yes” to all three, what ranks right there at the top of that list has to be his sense of court awareness! Chris Paul knows where everyone is going to be on the court, both on his team (which is why he leads the league in assists) and the opposing team (which is why he leads the league in steals).

How aware are you of your business? Assessing the external business landscape and looking internally is a competitive “must do”. The good news is, you can bet that a majority of your competitors aren’t do this, and if you are, then you’ve established a competitive edge.

So for your 5-minute homework today, ask yourself the following questions. Yep, they’re the old Jack Welch strategic questions, and they work.

  • What does your competitive environment look like?
  • In the last three years, what have your competitors done?
  • In the same period, what have you done to them?
  • How might they attack you in the future? i.e. What moves can they make to scare living pulp out of you?
  • What are your plans to leapfrog over them?

 

Your challenge is find which questions you don’t know the answer to, and decide on a set of specific actions to get aware!

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