In order for a business to be successful there needs to be certain risks taken on a regular basis. We’re not talking about reckless risks, instead we’re talking about measurable risks which have a greater chance of success than failure.
We call this ‘stretch versus comfort zone’.
Basically you can stay in your comfort zone, perfectly comfy and static, or you can take a risk and stretch a little. The risk, as long as it is measurable, is far more likely to bring benefits than problems.
For some businesses however, the stretch can be too worrisome and they decide to stay in their comfort zone instead. Big mistake.
If you don’t stretch a little, take the odd risk and try something new from time to time, your competitors will take the risks instead and reap the benefits.
For instance, some businesses might consider an office renovation, with a brand new reception counter and whole new technology system as a risk too far. There is money involved and time too. What these businesses don’t understand however is that making that renovation and spending time and cash on upgrading a reception area is the ideal way to make the perfect first impression, and therefore attract more business your way.
How to Decide if a Risk is Worth Taking
There are sensible risks and there are senseless risks. It’s important to do a risk management check before jumping into anything, to ensure that it’s not going to detrimentally affect your business. For instance, investing in new business furniture isn’t going to bring detriment, and therefore that is a risk worth taking, if you want to change your office to something more modern. On the other hand, going down the road of furniture that you really can’t afford right now, e.g. unique executive desks, is a senseless risk, because you don’t have the cash to easily afford it. In this case, looking at more affordable options is a better choice.
When deciding whether the stretch is worth it, you need to consider time and money, and you also need to think about the benefits it is likely to bring. Do the perks outweigh the downsides? If so, go for it. If you’re going to be chasing your tail for a while trying to recoup the difference, perhaps stick with your comfort zone just for a short while longer.
One area which many businesses stutter on is the introduction of new technology. For instance, video conferencing equipment within the boardroom. This equipment can bring major benefits in terms of collaboration on a wider scale, but it does cost money to install such equipment first. Equally, changing the whole vibe of a conference room is a stretch, but it’s one which could attract new business your way if you have clients visiting the space for meetings. Themed conference rooms are certainly on the rise, with new equipment such as reconfigurable boardroom tables for extra flexibility.
New marketing techniques, new products, introducing new ways of working, such as office booths or desk pods for quiet zones versus collaborative zones, and considering allowing staff to work on a remote basis, these are all stretches which have major benefits for a business. It’s the choice of those in charge whether or not to stick with the comfort zone, or to go for the stretch.
The questions to ask are:
- Is this risk going to cost more money than it brings in?
- Is this risk going to cost me more time than I can afford?
- Is this risk going to attract new clients and customers?
- Will this risk add to the quality of the company?
Your answers to those questions should help you make your comfort zone or stretch decision. Remember however, sometimes we have to stretch a little in order to reach destinations we would otherwise have fallen short of.
Renovating an office is certainly a stretch, but it’s one which most businesses find to be worth it. If you’re considering a renovation, to bring new life into your space, increase morale, and create a great impression to customers, head online and search for ‘office furniture near me’ options. From there you’ll be able to decide whether this is a stretch worth making for your business individually.