I hear this from executives and workers all the time: "I understand that we need to innovate, but why now? I'm just trying to make it to the next quarter. This is the time to get back to basics." In theory, I don't object to getting back to basics. Every company has to grow revenue, raise prices (if it can), and cut costs. That simple arithmetic never changes.
But here is the shared dilemma: Most companies today can't grow revenue by force feeding the same old stuff to the same old customers through the same old channels in the same old way. People may already be eating as many hamburgers as they are ever going to eat, drinking as much beer as they are ever going to drink, even buying as many plain vanilla personal computers as they are ever going to buy.
You just can't grow revenue significantly -- unless you bring jaw-dropping new products and services to customers. And surprise surprise….your customers are internal (employee partners) and external. Unless employee partners are working in a state of discovery and awe, rather than archaic feardoms, remarkable competitive products leaving competitors whimpering, “What the heck” on Monday mornings won’t occur.
The choice for business is really quite simple. Get busy doing the things you know to do.
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Jim Woods is principal and founder of InnoThink Group. Jim is a business turnaround expert and personal coach. His story is riveting. He has worked with government, U.S. Army, MITRE Corporation, Pitney Bowes, Whirlpool, and 3M. Jim W experiences, extensive research on competitive strategy and innovation have given him a fresh perspective on improving individual and organizational performance. Jim is a prolific speaker on strategic innovation, creative leadership, uncertainty and competitive strategy. Speak with us for consulting or speaking engagements call 719-266-6703 or click here for more information. Follow Jim on Twitter. Follow Jim on Facebook.
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