Very few industry organizations are hitting their targets. Most are paying the piper after wasting time and burning precious resources working too long on the wrong things.
The response to a shifting industry is not more of the same. Everyone knows that. It’s not incremental change, trading one person or thing for another. Everyone knows that too.
Or so they say. But insane practices continue as they have all along: Rally cries to “Double our volume in five years” with no teeth, artificial growth targets, nonsense incentive programs, markups to cover costs that add no value for customers, investing in more trucks or manpower to spread outdated propositions to wider audiences, management programs that do nothing for the bottom line, mistaking industry tenure for stunning minds and talent, flooding the market with new items nobody wants.
Of course, none have or will do a bit of good in adapting to the changes occurring in our industry right now.
Radical shifts in the environment require business reinvention. Business reinvention requires radical shifts in thinking.
Meditate on this: Your category leadership exists in a fading paradigm. Your market share in new paradigms is Zero.
Most established companies don’t think or behave this way. Identifying and discarding old value to create new value for new paradigms is hard work. It’s much easier to do more of the same or tinker with what’s growing obsolete–joining hundreds of dead or dying companies also once in the lead.
Who’s challenging your organization to think differently about growth?
We are, and here’s a start: As of now, Your company is a newcomer with a market share of Zero in the new construct.
Hopefully looking back 6, 12, 18 months from now, you’ve built against this thought and got something to show for it.