Breaking news! Mediocrity has died! R.I.P.
It all started about five to seven years ago when social media started becoming a mainstream platform for interaction, news and entertainment. There became a devastating fight between Excellence and Mediocrity. Recently mediocrity has succumbed to its injuries and has died.
How could this happen?
According to the book “Intellectual Capital” (author Thomas A Stewart), we are in a knowledge based economy. ‘In this new era, wealth is the product of knowledge’, says Stewart. This means there are more intelligence and knowledge in products and services than there are parts and labor. For example a laptop today does way more in terms of processing, speed, weight and cost less than a desktop of five years ago. They have better chips, lighter cases, etc., all as a result of intelligence.
Today’s products and services have made a paradigm and fundamental shift to be excellent. Why? Increased competition, abundance of information available to consumers as well as consumers being more discerning with who and how they give and spend their money.
How do you transform your business in this new paradigm?
- Become the expert at what you do. Know and focus on your product or service so intently that when asked you can exude such confidence that you will leave no doubt in your knowledge, experience and ability to perform.
- Fill knowledge voids with knowledgeable people. You can’t be great at everything, so surround yourself or hire/outsource to people that possess the knowledge, experience and skillset to execute at a level you can’t. Everything is learnable, however the key is to understand what is worthy of your time, energy and efforts. For example our clients benefit and grow exponentially because we provide the talent, knowledge and execution which allows them to focus on what moves their needle. They witness a huge increase in sales and productivity which greatly outweighs the performance-based cost of our services.
- Plan, Plan, Plan! Excellence requires preparation, strategy and execution. Borrowing a quote from the hockey great Wayne Gretzky when asked how did he become so great? He responded “I don’t skate to where the puck is, I skate to where the puck will be”. Have a long term (3-5 year) vision of where your industry and consumer behavior will be in order to position yourself to be there. That is what great leaders and great companies do!
Let’s not mourn the passing of mediocrity, but celebrate the victor, which is Excellence! Be mindful unless you adopt this new model you and your firm will become a casualty as well and to the victor goes the spoils.
Author: André Wilson ‘The Banker’, Managing Partner
Altima Business Solutions, “Empowering You To Focus!”
Altima Business Solutions is a full service Management Consulting firm providing knowledge, talent and execution thereby ‘Empowering Management to Focus’ on what moves their needle. If you would like assistance on any or all of these areas contact Altima Business Solutions today online (here), via email (here) or telephone (602) 773 1488