DispeltheMythsThatMayBeHoldingYouBack
Whenpeopleacceptmythslike:“We'reinano-growthindustry”or“Customersbuyonlyonprice,”theystoptryingtofindwaystogrow.Leadersneedtocreateurgencyaroundtheneedtoincreaserevenuesandgrowthebusiness.
■Obtainunfilteredinformationaboutyourindustry—Tobegoodatinspiringotherstotrynewgrowthideas,businessleadersmusthaveaccesstounfilteredinformationaboutwhatcustomerswantandwhatthecompetitionaredoing.Theleadersthemselvesneedtotalkwithcustomers,withfront-lineemployeesandwithsuppliers.Theleadersalsoneedtovisittheircompetitorsandseeorexperiencewhatthey'redoingright.Thentheleaderneedsawaytocommunicateinternallywhatneedstohappen,coupledwithaneffectivemeanstofollowthroughandseethatthisisdone.Inpractice,mostcompaniesfindthisisbestachievedthroughaweeklymeetingfocusedsolelyonwhat'sbeingdonetogrowrevenues.
■Targetgrowingmarketsegments—Evenwithinanindustryormarketthatisinaslump,therewillbesegmentsthataregrowingandothersthataredeclining.Agoodleaderwillbeconstantlylookingforwaystomovetheorganizationintothesegmentsthataregrowing.Heorshewillbelookingforwaystosegmentandresegmentthemarketinsuchawaythatmoreopportunitiescanbeuncovered.Orthismayrequirebroadeningthedefinitionofthemarkettogainalargershareoftheconsumer'stotalexpenditure.