In a traditional business life cycle, once a corporation has matured into a large entity, it can become difficult to explore new potential growth markets as the sheer size of the corporation dictates the amount of revenue needed to sustain operations. Essentially businesses get too big to be nimble enough to explore where the next disruptive technology (which will completely revamp their industry) will come from.
Tag Archive for ‘Business Strategy’ 
The Innovator’s Dilemma
Michael Porter Was Wrong
A famous quote from business guru Michael Porter goes: “If your goal is anything but profitability – if it’s to be big, or to grow fast, or to become a technology leader – you’ll hit problems.” I think Derek Sivers proves this quote wrong. Ever since Derek started the amazing success story that CD Baby became, his goal was never profitability. In his book Anything You Want he hints at what a new generation of entrepreneur’s are focusing on: putting people first and profits second.
The New Definition of ‘Strategy’
“The essential source of value right now is coming less from master strategy than from broad experimentation, because no one has a complete grasp, or even a very good one, about what the next great idea will look like.” -Clay Shirky, Cognitive Surplus
Strategy is no longer a document, or a recommendation. The “all inclusive strategic plan” is irrelevant in the new business world. What you need to focus on is small bets, ideas and experiments, measured meticulously over a predetermined amount of time. Find what works and improve upon it.
What’s Your Purple Cow?
The concept of the Purple Cow was introduced by Seth Godin in his groundbreaking book by the same title. Recently I read it again because it is full of ideas and case studies on how to make your business remarkable.
When you drive by a heard of cattle they all look like cows and it doesn’t seem out of the ordinary. But if you drive by a heard and standing in the field is a Purple Cow you have to tell someone because it is so different. When something forces you to remark on it, by definition it is remarkable. This is what your new business strategy should be focusing on, finding ways to make your customers talk about your products to their friends.
So the obvious question is, what is a Purple Cow?
Sanpellegrino is different than regular juice. Well, it’s not really different. It’s sparkling juice in a can but the secret lies in the can itself. Every can of Sanpellegrino has a foil lid you must peal off before drinking. As if your juice is so special that it needs to be covered by an additional seal. Also, you can’t find this juice at gas stations Continue Reading
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