Letting go is a powerful thing in business. It gives you an opportunity for course correction, builds new momentums, and new avenues.
Let go People – Those who can’t wait longer or don’t align the vision of impactful journey (of course with a struggle) or you don’t make sense for them. Respect their choice. Not all want to struggle/need to struggle as their lifestyle.
Let go Customers – Those who don’t see your value offerings and not willing to make it better by contributing what they need. Respect their choice. Some graduate to understand better and come back. Respect.
Let go Market segments – Your product won’t suit all segments, let some go, focus on where you thrive, and customers enjoy your offerings. Be a leader in a few market segments.
Let go Features – Give up fancy features for the sake of it. Measure what is used and what is just there. Improve if some features are useful but not scoped out fully.
Let go Products – Too many products without adding any value to your core propositions? How about mapping what customer needs, and repackaging? How about putting some in open source mode, and use as a magnet to lead generation or write-off a few products? Those making sense (revenue or ideal customer acquisition /lead gen) will stay, rest will go.
Let go Cultures – It is so easy to get stuck in the glorious past. But, time waits for none and change demands review. Let go of some cultures and adopt new.
Make sure you respect emotions, choices, and drive decisions based on data.