Today, every business is digital and it’s changing how business is done. But many businesses have yet to wake up and understand this reality. Look at the chart below, I’m sure your business is lacking the digital skills necessary to compete in the information age:
Strategy without change is pointless, and doing what everyone else is doing is not a strategy; it’s a key principle most business people don’t get. Take the most common advice you hear out there: don’t limit yourself to niche market; you won’t make any money.
This Thursday we’ll discuss “Measuring an innovation ecosystem” on Innochat. Many will argue that to develop a culture of innovation you need talent, support, capital and a host of other mechanisms. It’s such a common response that many organizations and governments around the world have created their own mechanisms to “drive” entrepreneurship and innovation in […]
I’m sure you’ve been in meetings where everyone worries about competition more than they worry about customers. It is a fact that for traditionally run businesses, any talk about strategy quickly shifts to competition. It’s unavoidable and it pisses me off. Traditional business practice is based on beating the competition, which assumes that there is […]
Via Quora: What can you change in a business that is strong enough to differentiate the business from all competitors, but without touching the product itself? For example, GILT, changed PRICE but didn’t change product, and opened a niche for discounted designer clothes. Phones International, changed the DISTRIBUTION MODEL of the mobile phone industry but it […]
“It’s not enough that we win; all others must lose.” – Larry Ellison Heard this one yesterday. I’m all in for competition, but business isn’t about war (at some point I used to think like Genghis Khan too). It isn’t about beating competitors just for the heck of it. I find this focus on competing […]