Pivot to the Future [Disruption] P90
Post Length: 3 min
In Review: Pivot to the Future
Author: Omar Abbosh, Paul Nunes, Larry Downes
Length: 9 hrs 58 min
Reco: bueno [4/5 bananas]
“We will sell no wine before its time.” Orson Welles
That was a marketing campaign from the 70’s for Paul Masson Wine.
With everything but wine, time seems to be working against us.
And yet, in business time is only part of the story, timing is the real killer.
The marketing statement above assumes one thing … that there will be anyone who wants to buy their wine when it is ready to be sold.
This is the essence of Pivot to the Future. Looking at companies that weren’t just aware of the times, but also timing. Mess either of those up, and you may find yourself selling a product that everyone used to want but already has.
‘Be patient … Being too far ahead of your time is indistinguishable from being wrong.’ - Howard Marks
The key driving innovation is Trapped Value —- market potential yet to be unlocked.
Referencing the New York Times [NYT], their trapped value was in digital content. To realize that, they would have to move from a newspaper with digital content to a digital first provider that also does print.
Similarly, UNIQLO, the Japanese fast fashion company that took the industry by storm started by selling whatever it manufactured to only manufacturing what it could sell.
To successfully make the pivot in your business, you will need two types of people.
Entrepreneurs, the leaders who are focused on business creation.
Operators, the leaders who are focused on the business running.
It will take a team to get there, don’t fool yourself. Be aware of time, but wait for the window, it will pay dividends.
‘Companies that make the pivot find joy in the forward march of time but they never rush the future.’ - Authors
Aside from practices like Zero Based Budgeting and Re-skilling your employees, get your team back to the mission of the organization.
Put simply by the authors:
Absent a real and attainable mission that every stakeholder believes in and pursues to the best of their ability, a business is just a collection of unrelated and disconnected resources.
Until next week-