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Protect The Future

December 21, 2008 By

Last month I had the opportunity to visit a presentation and Q&A session with Jeff Immelt. Jeff talked about numerous subjects such as the presidential elections, the economic downturn, corporate social responsibility, and—of course—life as the CEO of General Electric (GE).

He also mentioned “protecting the future”. Every major business decision and business activity was made based on the protecting the future. Many companies capitalize on opportunities in the here and now, generate massive amounts of buzz for a certain (short) period of time, or are focused on quick wins. The question remains, however, whether these initiatives contribute to setting a company up for long-term success.

Using the “protect the future” mantra helps you analyze opportunities and make conscious decisions.

Are your initiatives focused on protecting the future?

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What’s Your Plan B?

September 14, 2008 By

As the economy continues to take heavy hits, what’s your plan B? Perhaps sales are down or worse, your job is in danger. Either way, this is a good time to reflect.

Take the time to reflect on what should be rather than what could be. The current economic circumstances form the best stress-test for your organization and your skill set. Find out what’s working in your organization and what isn’t. Examine best cases and perform some “business process scrutineering”. Make sure you have your exit strategies and future plans in place.

Consider your plan B. Make it just like another plan A.

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The Redundant Human

July 15, 2007 By

Advancement in information and industrial technology has resulted in many new solutions that make human involvement unnecessary. Take travel websites for example. Websites like Expedia, Orbitz and—my personal favorite—Kayak are able to search the web for you to find the best deal for your next vacation.

Where does the good old travel agency come in? Nowhere, really. Some may have their own websites where they provide a similar search service, but the fact is that any human involvement can be cut to zero.

Of course there will still be people who prefer to visit a travel agency. Some travel agencies will continue to exist, but they only do so because they differentiate themselves by offering more than being able to find the best deal for a customer. They offer knowledge and expertise in a special area, like adventure travel, or specialize in a particular niche/audience.

Differentiate. Improve your skills and knowledge, if only to prevent being replaced by a machine.

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Exit Strategies

June 17, 2007 By

Things stop working. Your TV for instance. That’s when we move on and buy a new one. Similarly in business, products/services stop working. Not everyone can be a Coca Cola, living off the success of a single, unchanged concept for decades.

Products/services come to an end for a multitude of reasons. Most common ones include:

  • Consumers don’t buy them anymore leading to losses
  • Margins have been cut due to competition
  • Companies divesting in a certain product/service
  • Substitute products/services have entered the market

Whatever the reason for the end of a product’s lifecycle is, have you thought ahead? Do you have in mind what to do once that moment comes?

Some questions to bear in mind are when considering future options are:

  • What would you want to do? Put motivation behind the direction you’d like to take.
  • What would your customers want you to do? Think about your target audience, your value proposition and your business model.
  • What can you do? Choose a direction that emphasizes your strengths and competences.

Think ahead. Stay ahead.

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Is Your Brand A Toyota HiLux?

December 17, 2006 By

Several years ago, the crew from BBC’s Top Gear attempted to destroy a Toyota HiLux. The pickup truck was, among other things, immerged in seawater, set on fire and dropped from building demolition site. Suffice to say that it endured ample punishment, but in the end, it would still start. You can watch the videos below.

As the year draws to a close, think about your brand. Think about how robust or fragile it is and how much long-term potential it has.

Re-invent your brand, your value proposition and your strategy if necessary. Make your brand a Toyota HiLux.

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