We must celebrate those who appear on this list with gusto. The current climate is beyond challenging as we face escalating costs to do business, the impact of the cost-of-living crisis and the lingering impact of Brexit and the pandemic, so those businesses bucking the trend must be applauded for this achievement.
When writing about this, I had to ask, what does ‘dynamic’ actually mean? Looking at the Oxford Language Dictionary, it seems that as an adjective, dynamic is defined as ‘characterised by constant change, activity or progress’ or ‘positive in attitude and full of energy and new ideas’. As a noun, it is described as ‘a force that stimulates change or progress’.
The words used to bring it to life are pretty powerful: positive, energetic, vigorous, lively, active, high powered. I particularly like gutsy, peppy, sparky and full of vim and vigour.
What is clear is that dynamic means endless change: innovation, evolution, growth. As a business owner, this resonates deeply. When running a business, everyone knows that moving forward is the key to survival. Just like sharks, forward momentum ensures survival for businesses. Standing still has never been an option and a firm focus on the future is critical, whether your business is big or small.
Being a ‘dynamic’ business doesn’t always mean simply moving forward. The path is far from linear. It doesn’t automatically equal big, bold moves or hitting upon that one gamechanger of an idea. It can be subtle and nuanced. It can be small but simple improvements carried out continually. Look around your business and ask, where can things be improved? Optimising existing processes, products and service will drive forward innovation, efficiency and results.
A drip-feed of small wins not only drives noticeable results for the business but also for your team, improving productivity, motivation, creativity and morale. The concept of incremental gains is far from new, but it drives competitive edge and innovation. Empower your team to question, take calculated risks and essentially, learn from failure, and you will have created a workplace that embraces change and thrives on continually moving forward. Let your team have ownership, continually identifying areas to challenge and improve, and watch the results.
Being dynamic isn’t always about moving in one single direction. Diversification is a powerful move, and one that I am seeing increasing evidence of in the FMCG industry.
As businesses expand their portfolios to attract a wider customer base and tap into consumer trends, we must also continually explore new and exciting ways to combine product, experience and service. In my industry, a great example of this is how convenience stores have diversified from traditional retail to offer so much more, such as parcel collection, bill payment and food-to go. In adapting and expanding their offer, convenience stores are regarded as an irreplaceable heart of the community rather than a dinosaur on the high street that serves limited purpose.
Keep moving, keep adapting and keeping your eyes open for possibilities in all directions is vital.
Change
Of course, while continual change is needed to drive momentum, the reality is that change isn’t always easy. With change comes uncertainty, and with uncertainty can come fear.
I firmly believe that a successful business’s greatest asset is its people. While I aim to inspire my team, in turn, I am inspired by them. For us all to be on the same journey, all playing a role, it is vital that they not only understand our vision but believe in it and can see how they can play an integral part.
At Lioncroft, we have created a culture around our values of HOPE: Honesty, Opportunity, Purpose and Energy. We recognise that, ultimately, every person in the building is here because they want to do better for their family and hope for a better tomorrow. The first step to achieve that is by making a better future for themselves and, I firmly believe that by sharing my vision for the future of the business, it is abundantly clear that we are all on the same page and, essentially, we are all moving forwards together.
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