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12.28.2018 #news

Growth Guidance: Speed & Direction

Growth Guidance: Speed & Direction

If everyone is running in the same direction, in the right direction and at pace, you will all get to where you want to be before you know it. Not only that, but you will all be smiling and the glow of success will bring admiration from all around.

But change one of the variables and it all goes horribly wrong. You get to the wrong place, you leave a colleague behind, or you arrive too late. In other words, you fail. So it is with innovation.

Most innovations fail not because they have the wrong idea but because the direction, speed of travel and/or chosen destination are wrong.

---For the same direction, read alignment around a robust business plan

---For pace, read the balance between gaining market validation from target customers, delivering a MVP that proves the business model and clarity on how to scale a successful business

---And for destination, read creating clear differentiation that gives the right not just to play but to win.

Now, all wrongs can be righted, but momentum is a powerful thing. It’s easier to sustain a successful initiative than to turn around a failing one. So, investing in strong foundations for new innovations invariably pays back rich returns; as the cost of failed execution will be minimised and the quantum and realisation of incremental revenues will be accelerated.

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