Bananas on my mind. Sorry. In these trying times its always good to be reminded of the successful among us. It will either inspire you or tick you off, either way it gets the blood flowing to those extremities that don’t appreciate the thermostat set to 65. Entrepreneur.com covers four well known rule breakers you should have already heard about. So what’s the best way to create a successful company? Break a paradigm, nudge it, or simply copy it? We hear a lot about the innovators who change the world. But the majority of transactions are done by companies that are in the business of copying existing business models. Life’s safer that way. Because we all know that for every inspiring story of success there are hundreds of failure that provide a chuckle or a lesson — because who could possibly imagine THAT idea would work? (It’s always stupid, till it’s not.) We’re back … Continue reading
My previous post warning of the dangers of Banana Marketing reminded me of the insightful book by Clayton M. Christensen, The Innovator’s Dilemma. Key insight: sustaining innovation vs disruptive innovation. Great companies have a tendency to excel at the first and get blindsided by the second. (His chapter on the disc drive industry is here.) So look around. Is your new product pipeline filled with genetic clones. Are you selling a bunch of bananas?
How focused is your marketing. Like a laser? Only running with what has worked in the past? Has your creative started to look more like a banana than a bouquet? Sure everyone knows it’s you – but is that good? Have you defined your product category so well that you’re about to be swamped by a game changing event? A lack of diversity in marketing or product development can create an ecosystem that leaves you at serious risk. Consider the poor banana…. The Cavenagh is by every business measure the most successful banana in the world. Where bananas are shipped and not grown, it has held a monopoly since replacing it’s ill fated predecessor the Gros Micheal. And every Cavenagh you eat today is genetically identical to the one you ate yesterday. There is no bio-diversity. There are many types of bananas in the world, but the Cavenagh was elected … Continue reading