Mining companies are not the only ones feeling the brunt of Australia’s poor commodity prices and increasing taxes. Shrinking workforces and the downturn in mining production have a devastating ripple effect on workers who are made redundant, their families, and the communities in which they live. But it doesn’t stop there.
The overall slowdown to the market also impacts all those mid-sized companies whose bread and butter comes from serving the mining sector.
In this highly competitive and visible market it is now critical for these companies to innovate, use the strength of their best people, and stand out to retain and grow their market share.
Discovering, living, and communicating what makes you unique – your UQ Power – is no longer an advantage, it’s a necessity to survive and thrive.
Identifying your UQ Power
In my book It All Starts With UQ Power! Boost Your Income, Influence and Impact, I pose the question - what single strategic asset (a way of thinking, acting or working) makes or can make you “different” from your top 3 competitors?
Perhaps it’s your unique business model or maybe it’s your leadership team who inspire others and encourage them to grow?
It’s time to harness whatever it is that sets you apart from your competition. Play up to these traits, expand on them and repeat them across your communications so that everyone you deal with knows exactly who you are, what you stand for and why you’re the best at what you do. At every touch point your business needs to live and breathe its UQ power.
Wear your UQ Power with pride
Here’s the hard truth. It doesn’t matter how enthusiastic, brilliant, passionate, visionary or talented your people are at what they do. If your business and its leaders are not able to identify or communicate your UQ Power, your road to success may be bumpy one.
When an industry slows down just as the mining sector has, innovation and influence is essential if you want to maintain your market share. But how can you differentiate your company if your corporate culture and lack of brand clarity is out of sync?
Having a clearly visible UQ Power can tune up your profit making potential and improve company culture by bringing your team together behind a shared vision that drives them forward. A leadership team that lives their brand with precision and has effective communication and relationships with all their stakeholders will deliver the results you need in these challenging times – elevated profits, improved stakeholder relationships, and an increased visibility and reputation.
Find out how to your Power up your business at www.UQPower.com.au.