Create change your organization can feel and see
Since 1991, Maddock Douglas has been providing its clients with the fresh thinking, innovation and diverse expertise to envision the future and build toward it.
Here is a fact that the best leaders understand but everyone else wrestles with: Innovation needs to be countercyclical. The best time to create the next big thing is when things are going well, not when you are struggling.
When the economy is booming and their company is crushing it in the marketplace, most leaders tend to reap the benefits. As the saying goes, they make hay while the sun is shining.
But then the rain comes. The economy slows. Or your once reliable products or services become stale. Or there are unexpected new competitors. Or people are buying direct. Or…. You know the list.
As a result, the phone stops ringing and your sales department starts to clamor for things to sell.
Only then does leadership spring into action, assembling the brightest, most creative people to chart a new course, fueled by inspired thinking and new offerings.
But by this point, it is too late. Here’s why.
Unfortunately, your company is perfectly engineered to create the outcomes it is creating. In other words, it knows how to do the same thing it did yesterday, juuuuuust a little better today. It also knows how to kill anything that doesn’t resemble what you did yesterday.
So under the pressure of slowing sales or waning market relevance, your perfectly engineered machine will tighten its grip on the past. The well-meaning team will focus relentlessly on your core business—their past success formula—thus accelerating your demise because what worked in the past will no longer work in the future. Making a better buggy whip, a faster film camera, a quieter typewriter or even cleaner coal won’t keep the stagecoach operators, film processors, typesetters or miners employed.
You need a different plan. And it starts with reinventing your business when your CFO is smiling.
Here are six proven ways to create the next significant source of new growth for your company.
I started this article with the point that innovation is countercyclical. The best time to seek new sources of growth is while your company is crushing it because there will be less fear in the organization to fuel the inertia that naturally comes with change. But assuming that you are not crushing it, let’s talk about the second best time to start looking for new sources of growth:
Today.
(The strategies above are the place to start there as well.)
Since 1991, Maddock Douglas has been providing its clients with the fresh thinking, innovation and diverse expertise to envision the future and build toward it.