So what is stopping retail businesses from reaching True Prosperity? We see two things happening simultaneously:
1. An ever increasing in size wave of every day problems require urgent solutions. From the energy crisis and cost of delivery, to the – until now unknown to this generation – inflation, or the constantly growing global competition.
2. Changes in consumer behaviour are now structural, giving rise to a completely new reality for retail.
At this difficult crossroads, retail owners tend to focus on resolving the urgent problems that come up on a day to day basis and, by doing so, they ignore the need to carve out a new path for their retail business.
However, this is not (nor should it be) a binary choice. We can address today’s problems and plan for tomorrow, simultaneously.
How? Here’s our three step process for Resilient Decision Making.
Step 1: Zoom Out.
You need to look ahead. Yes, you do need to be informed about the changes that are happening right now in the retail market, but you must also be aware of trends that will transform the market in less than ten years. This is a basic requirement for the shaping of a resilient strategy. We suggest reading metallaxis.org to understand more about this.
Step 2: Zoom In.
Not to resolve the challenges that you’re facing today, but as an X-ray of the opportunities and limitations that your business is facing today. A strategic and systemic snapshot of today.
Step 3: Create the Filter.
This is where the magic happens. Having read and reflected on the future trends of the market, and having developed an understanding of the opportunities and limitations that your business has today, you have created a filter. This filter can now help you choose the best possible solution, the solution that will help you move towards a more prosperous future. This way, your decisions will no longer lead you to an unknown tomorrow, but towards a tomorrow that you have identified and want for your business.