Are you a Vegetator, Imitator or Innovator?
According to Shelly Boyce, CEO, of Medrisk, you can be any of the three. The real question is which is the most successful strategy in the long-term
Female ceos, successful business women or women wanting to advance need to first have a solid business strategy to be successful. Once they have developed the strategy, gotten some input and deployed it successfully to the marketplace, many think that the hard work is over and it's time to rest.Unfortunately this is only the beginning of creating or running a successful business. Many women leaders forget, that over time, any strategy will eventually become tested by the competition, economic conditions and factors you never see coming. And if female CEOs or corporate women fail to react in time, the consequences could be disastrous to their business.
Even if you were the first to the market with your product, there's no guarantee that you will stay in the lead. As you begin to grow sales and take away business from others, they will start to notice. And then will develop their own strategy to beat you back and regain their market share. Instead of being just you, you may now become one of many. This can be a hard transition for many that requires different skills to take you through it. Some can do it - most do not.
To see where you are, Shelley described the types of women leaders:
- Innovators who take their ideas and create new products and markets. Often they become well known. They are not likely to accept failure as an option.
- The imitators search the marketplace and find companies that they find interesting and assume the market is big enough for them to join. They piggy back off the successes of other entrepreneurs and can build their organizations in much less time than the innovator may have done.
- Vegetators may start as innovators but eventually getting to a point where they plateau. Their results seem to be okay and there is no great sense of urgency to change. They believe that their successes will continue into the future. Unfortunately this is rarely the case
The competition is fierce so it doesn't make good business sense female CEOs to maintain the keep the status quo. Failure to periodically look and reassess your business practices and business focus might leave an opening for another competitor to enter the market and start taking business from you.
To avoid slipping into the vegetator role, periodically go back and review why you started the business. Assess your progress to date against your original expectations. Honestly assess how well or not you have done. While it's not helpful to dwell on the past, having a sense of what you've accomplished on the journey from the beginning to now is critical. it puts things into the proper perspective.
Leverage this history and your experiences to get to the next level, to continue to innovate and grow the business. Steve Jobs, of Apple who has recently battled cancer, explained that, every life experience is like a dot. Who we become and the success we achieve is the accumulation of these connected dots. As an incredibly successful innovator himself, Jobs realizes the importance of every experience and how their interconnectedness plays out in many aspects of life.
It's critical that females ceos continue to analyze how they got to their correct state and what they will need to go next . This self-assessment is a requirement for being a successful innovator. The long-term prospects for imitators and especially vegetators is poor. The goal is to be an innovator. It's the best way to achieve the results that you want. ceowomensclub.ladyrich.info
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