Don't continue with old IT structures for too long
Posted: Sat Dec 21, 2024 4:18 am
Some petrol stations did not follow this and others saw this as an opportunity for (as we would say now) more engagement or touchpoints with the customer. They invested in this, despite the low volumes in the beginning. We all know how that ended.
Don't invest too late, but also not too much too early
An example of this is an optical retailer that invested 25 million in an online shop. They had to close it in 2002 due to low sales. For them it was too early to invest that much money, but it was not too early to invest in experiments and developing possibilities. Because in 2015 this market was worth 1.3 trillion in the US.
This means that you innovate too slowly and that you often end up paying more. A better option is to divest all aspects that do not contribute to your strategy. Replace components that need updates or that need to be invested in with new systems. Keep doing this until everything is renewed and meets the requirements.
These requirements are of course dependent on what is needed for the plans you have made. For example, for automating certain processes that ensure faster processing or automating hong kong telegram data checks that are normally done manually.
Pitfall 5. The focus is only on disruption
If you only focus on disruption, you can also miss opportunities and stagnate in your growth. This is because companies in that case no longer improve their current products or services. Development remains stagnant and so does the turnover that goes with it. For example, because budgets and investments are only used for disruption. And a risk is that by investing in disruption you only invest in the long term and do not get the most out of current projects (short term).
For example, by reducing costs or focusing on growing sales within your current activities. This is called optimizing. Another mistake is not looking for new channels for selling products or new markets. Making these adjustments to the current business model is called transforming.
Make sure you stay active in these 3 areas (optimize, transform and disrupt). Do you want to know what the ideal distribution of your time, budget and energy is? You can read that in the book, which of course goes into more depth on all the points I mention here.
Pitfall 6. Buying startups with the wrong strategy
Acquiring a disruptor in the market with the reason to have a direct impact on your business or to use the talent that is there, is not the right move. It is a better strategy to let the acquired company grow further and eventually have it support you. Pulling the talent away and having it support your current company often does more harm than good. This strategy is focused on growing the current company.
Don't invest too late, but also not too much too early
An example of this is an optical retailer that invested 25 million in an online shop. They had to close it in 2002 due to low sales. For them it was too early to invest that much money, but it was not too early to invest in experiments and developing possibilities. Because in 2015 this market was worth 1.3 trillion in the US.
This means that you innovate too slowly and that you often end up paying more. A better option is to divest all aspects that do not contribute to your strategy. Replace components that need updates or that need to be invested in with new systems. Keep doing this until everything is renewed and meets the requirements.
These requirements are of course dependent on what is needed for the plans you have made. For example, for automating certain processes that ensure faster processing or automating hong kong telegram data checks that are normally done manually.
Pitfall 5. The focus is only on disruption
If you only focus on disruption, you can also miss opportunities and stagnate in your growth. This is because companies in that case no longer improve their current products or services. Development remains stagnant and so does the turnover that goes with it. For example, because budgets and investments are only used for disruption. And a risk is that by investing in disruption you only invest in the long term and do not get the most out of current projects (short term).
For example, by reducing costs or focusing on growing sales within your current activities. This is called optimizing. Another mistake is not looking for new channels for selling products or new markets. Making these adjustments to the current business model is called transforming.
Make sure you stay active in these 3 areas (optimize, transform and disrupt). Do you want to know what the ideal distribution of your time, budget and energy is? You can read that in the book, which of course goes into more depth on all the points I mention here.
Pitfall 6. Buying startups with the wrong strategy
Acquiring a disruptor in the market with the reason to have a direct impact on your business or to use the talent that is there, is not the right move. It is a better strategy to let the acquired company grow further and eventually have it support you. Pulling the talent away and having it support your current company often does more harm than good. This strategy is focused on growing the current company.