What is a strategy worth?
Picture by https://www.ccl.org/articles/leading-effectively-articles/communication-1-idea-3-facts-5-tips/ as add-on to the post from yesterday.
“Culture eats strategy for breakfast” is a famous quote of Peter Drucker, https://www.drucker.institute/perspective/about-peter-drucker/.
So what are you doing, when you want to implement a new strategy and you have a e.g. customer centric/driven culture? Making your customer happy is your daily business and paying your bills, but the new strategy is necessary to be successful long-term. You still might get the budget, but never the buy-in of the resources you need to make the change. Especially in companies that report results on a quarterly basis you will find a tendency for short-term action. In a family owned business a more long-term thinking is a basis for success.
One approach that is quite common in the digital transformation of companies is to build up a completely new business in parallel to the old one in a different city. An old economy corporate setup versus a new economy start-up like mindset. No history, no dependencies, just taking a Greenfield approach.
In the moment the new setup is up and running, ready to take over, fully tested and certified, you switch from old to new and proceed your business. Sounds much easier than it is in reality, but a great thought process that is offering an endless number of opportunities to make a change. Want an example, check https://www.kloeckner.io/
To make a long story short, read the following quote. It says it all:
We cannot solve our problems with the same thinking we used when we created them. -- Albert Einstein, German - Physicist March 14, 1879 - April 18, 1955
Some good reads:
- The a16z Marketplace 100 https://a16z.com/2020/02/18/marketplace-100/
- TED Talk: Why you should get paid for your data https://www.ted.com/talks/jennifer_zhu_scott_why_you_should_get_paid_for_your_data
- TED Playlist: Time warp https://www.ted.com/playlists/311/time_warp
- How To Develop a Million-Dollar Pitch Deck to Investors https://foundr.com/pitch-deck-to-investors
- HACKERS STICK TAPE ON SPEED SIGN, TRICK TESLAS INTO GOING FASTER https://futurism.com/the-byte/hackers-trick-teslas-going-faster
- The 3 Most Common Reasons Generations Clash at Work https://business.linkedin.com/talent-solutions/blog/diversity/2020/reasons-generations-clash-at-work