I recently co-hosted a webinar with Michael Eckhardt, Managing Director of Chasm Institute, a firm that helps companies implement best practices in strategic market development. The topic was the twin challenges of growth.
Michael explained that companies face the first challenge of “Crossing the Chasm,” i.e., finding market traction beyond visionaries and early adopters. Those who are successful with this will then encounter the second challenge.
This second challenge is the irony of growth: The very success that companies achieve in gaining market traction also plants the seeds of their own potential failure. The infrastructure – operating systems, organizational foundation – and leadership behavior that worked as a start-up isn’t up to keeping pace with a rapidly growing top line and the ever-growing number of employees in the company.
One of my favorite business quotes is from an old B-school professor of mine: “Strategy is the art of foreseeing the inevitable and hastening its occurrence.” It’s a paraphrase of a quote on the art of statesmanship by the legendary French diplomat Charles-Maurice de Talleyrand.
Strategy is sexy stuff. Deep thinking, insightful analytics and creativity required.
When I interviewed MBAs looking to join my former consulting firm, the majority said that what they really wanted to do was strategy consulting. What they meant was, they wanted to the front end of strategy: the competitive and market analysis, the customer segmentation, the C-suite and Board discussion of options and the finalization of a bold recommendation.
Andrew Green shares perspectives and hard-won lessons on mastering the business growth path