In challenging times, decisions become even more critical to a company’s practices, disciplines, approaches, and ultimate success. How does a company choose the right strategies and implementation to ensure they not only weather the crisis but come out ahead?
Perhaps you can relate to one of these scenarios...?
How do you get the rest of your partners/leadership team on board to take action before it’s too late?
How can you be more decisive, rally the troops, and implement pivotal strategies to keep your company resilient?
How do you figure out who’s right?
True story: Once upon a time (i.e., early 2000s), Yahoo was the titan of online search. In 2002, they almost bought Google for 5 billion dollars; in 2006, Facebook for 1 billion. They decided against spending that kind of money on Google, and wanted to lower the price on Facebook causing Mark Zuckerberg to back out.
Resting on their laurels as the #1 search engine and advertiser, Yahoo chose instead to focus on becoming an online portal. They outsourced their search capabilities to Microsoft Bing. You probably don’t need to look any further than your own browser to know how that success story panned out. Current estimations of Yahoo’s overall value hovers around 32 billion, Facebook 1.2 trillion, and Google 1.6 trillion.
So, what happened? Ultimately, decisions weren’t made even as bigger and better ships rose around them. And while it’s easy enough to armchair quarterback bad business moves, the fact is that both retargeting and sustained growth success require remarkably similar disciplines and practices, common across all industries.
Let’s face it: Change will happen, and often outside of our control. What does it take to leverage those changes into opportunities?
Success is prediction...
In partnership with Michael Eckhardt of the Chasm Institute, I’ve developed the Growth Readiness Predictor (GRP), a tool to score and prioritize a company’s strategic options to pivot strategically, stay resilient, and sustain growth.
We identify sixteen actions necessary to drive profitable growth. Here are the top eight:
What are the tools you’ll need to successfully successfully execute a pivot and sustain its growth? Here are a few tips to approach implementation in a reasoned and sustainable way:
Is your organization ready for the next big crisis or opportunity?