On average, you and your competitors will grow at the same rate as the markets you serve. Don’t feel entitled to this. If a competitor develops a blockbuster, you’ll be happy to minimize your sales decline. Thinking otherwise is like 1970’s Detroit auto-makers assuming Japanese competitors would keep producing junk.
More in white paper, Catch the Innovation Wave (page 15).
New research shows huge financial benefits realized by companies exhibiting long-term behavior. And yet, short-termism often prevails. Here’s the reality: your financial results today are just the future someone else created years ago. Isn’t it time to make your career a participant—not spectator—sport?
More in article, What’s Restraining Your Growth? Your Time Horizon
The human brain likes to diverge first (look at all these deserts), and then converge (the chocolate lava cake, please). We shortcut this highly-effective approach when we begin by asking customers if they like our idea, hypothesis, or prototype. First, diverge with an open-minded exploration of all customer needs in B2B-optimized, voice-of-customer interviews. When you converge in a later round of interviews, do so quantitatively, so your confirmation bias doesn’t kick in.
More in e-book, Leader’s Guide to B2B Organic Growth (Lesson 16).
Quality guru Edwards Deming taught us that “94% of problems in business are systems driven and only 6% are people driven.” With the right systems, a company will grow and thrive. And few are more important than the “feedback loop.” Unfortunately, this term has been used so broadly that the original and powerful meaning has ... Read More
Increasing shareholder value is simply the result… the “effect.” What’s the “cause”? It’s profitable, sustainable, organic growth. Demonstrate this and stock prices will follow like goslings after their mother. Quit performing for Wall Street analysts, who have never created real value and couldn’t do so if their bonuses depended on it. Instead, work for customers who will appreciate and reward the value you create for them.
More in article, How to become a great business leader
In Asia, for instance, people are especially mindful of the feelings of peers and bosses. And if customers are accustomed to a trading culture—not “consultative selling”—they’ll expect visiting suppliers to “sell us something.” Patience is needed, but thankfully the desire to be understood is universal.
More in e-book, Reinventing VOC for B2B (page 27).
Should your product launch include email… trade shows… pay-per-click? Every market segment tends to favor different venues to learn about new ideas. Rather than guessing—and squandering your budget—you should study customers’ behavior. Don’t think, “How do we communicate?” Instead think, “How do they learn?”
More in article, Stop Squandering Your Product Launch Budget
What initiatives is your business pursuing today? Lean… sales effectiveness… acquisitions… cost reductions? If your over-arching aim is rapid, profitable, sustainable growth—and it should be—see why these otherwise-fine initiatives may be distracting you and inhibiting the high-quality growth you seek.
More in article, Plan your B2B organic growth with this new diagnostic
When do most producers resolve commercial risk? After product launch, when they learn if their product is a success or failure. You can build a “certainty time machine” and remove most commercial risk in the front-end of innovation. But only if you’re serving B2B customers, who can explain nearly all that you need to know.
More in white paper, Guessing at Customer Needs (page 5).
Don’t let your future be “that time you’ll wish you’d done what you’re not doing now.” You’ll be thankful later if you recalibrate your time horizon now… diverting some of your short-term attention to the future of your business. Besides, what you do this quarter is largely a spectator sport. The prices, profits and margins we wring our hands about during financial reviews were determined years ago by the new products created then for customers.
More in e-book, Leader’s Guide to B2B Organic Growth (Lesson 7).