Friday, October 5, 2012

Momentum versus inertia

If your company has been around for a while, you feel it. The tug of history. It shows up in meetings with phrases like,

"We've always done it this way."

"Yeah, we tried that. It didn't work."

"Hang around long enough and you'll get it."

Every company has its "way" which served a purpose on the rise to success. The problem is markets change, consumer attitudes change, new competitors enter, technology improves and the "way" that once led you to market leadership is now pulling you forward while the road turns to the left.

Success creates momentum. But when momentum becomes inertia, failure is soon to follow.

Just ask General Motors, Dell, and NBC. 

The trick is not to forget your company's history, but understand when it's no longer relevant, otherwise your brand will become just that, history.

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