When it comes to pitching your employer new business ideas, few can claim a track record as impressive as Brendan Ripp’s. Brendan most recently served as group publisher of the Sports Illustrated Group, where he led the development of nearly two dozen brand extensions, including a new film production unit, a college sports vertical, consumer events for Sports Illustrated Swimsuit and most recently the launch of SI Overtime, a branded content studio. He also formed content, media and marketing partnerships with WebMD and Wired, prior to which he served as publisher of Time, Fortune and Money.
We all know that companies that thrive in the future share certain traits. They need to listen to core customers and excel at sensing new trends.
“All men can see these tactics whereby I conquer, but what none can see is the strategy out of which victory is evolved.”
It is so easy to miss! When the future was lobbing softballs at you, you could hit the trends every time. But the future has upped its game. It’s throwing fastballs and curveballs now.
What software company would’ve thought five years ago that Amazon would be its biggest competitor in the cloud? What automobile manufacturer thought five years ago that a simple mobile app would force them to rethink their business?
In our last blog post, we argued that a “digital transformation” being experienced across nearly every sector is thrusting us into a new era of complexity. Large companies are failing to adapt. They are dying earlier and faster than ever before. And their failure to adapt could come at a profound detriment to society.
An odd thing happened in a client’s boardroom recently. We were listing out the competitors we needed to keep an eye on as part of a scenario planning exercise. We had discussed the usual suspects – long-time direct – and even the more recent entrants – mostly technology start-ups that were now picking up speed. Then someone said, “What really scares me are the competitors we can’t see.”
What is next to fall?
The talent barrier is already coming down. In the past, companies offered workers a straightforward bargain: give up what you want to do to do what we want you to do, and in exchange we will give you full-time employment, a title, and a hierarchy. Trade freedom for predictability.
Last June, John Chambers, former Cisco CEO, proposed that “soon you’ll see huge companies with just two employees – the CEO and CIO.” The concept seems crazy now, but tangible evidence suggests we are moving toward such a future, faster than you might think. As with every major transition, this one will create losers and winners, thinkers (who hold on to outdated concepts) and outthinkers (who embrace the new).
Opportunities appear … then vanish more quickly today than ever before. In response, many businesses – from startups to Global 100s – are trying to accelerate their decision-making approaches. They are embracing a philosophy referred to with terms like agile, lean, and scrum.
Corporate venturing models assume that the path to launching a business begins with writing a business case and then seeking funding. But this overlooks perhaps the most important source of capital: your customers.