Small businesses often feel pressured to be copycats. The illusion that innovation is reserved for the big and affluent has taken hold in the minds of many small business operators. In conversations I've had, I've heard that innovation must be something never seen before, something that changes perceptions by the millions. This self-imposed barrier prevents many small businesses from even trying to innovate or be creative. Instead, they settle into plateaus. However, research

Established businesses often hold tight to what made them successful, but those same practices can become their biggest limitation. Long-standing businesses have established themselves through market leadership, creating products that outlast long periods in the market. With product specialization, however, many companies have also held on to limited ways of managing their business. Two common practices we see: 1. Satisficing instead of optimizing Optimization can be complex

At an abstract level, if you look at businesses, especially ones with a focus on human capital, competition happens on a different level than the mainstream assumes. We consider individual talent contributions to the overall goal of a business as drivers of competitive advancement. The question arises: if all talent is hired based on the same criteria - qualifications, for example - and all talent fulfills the criteria to a certain degree, then why do some businesses advance

In highly competitive markets, relying on the position of the brand being sold seems to be the go-to strategy for most employees. Brand value is conveyed to potential customers as a main buying reason. This, however, leaves selling to chance—customers are left to decide which brand to give their business to, rather than deciding which salesperson they want to work with. By letting only the brand shine in the transaction, sales consultants take themselves out of the buying jou

In a recent conversation, we discovered that many people are primarily focused on finding the next big thing to gain a competitive advantage in their business. Their attention is centered on creating something new to sell — something no one else has yet. While this innovation-focused approach makes sense, it often draws attention away from the growth opportunities that already exist within the business. Taking a snapshot of what’s not so good , good , and great can reveal bo

Unfortunately, this is easier said than done. While many people say “work smarter, not harder,” there is often a serious disconnect between the phrase and the actions that follow. Research on management practices, for example, shows that productivity or profitability improvements are often not adopted simply because managers are unaware of the practices that actually work. For many organizations, the challenge lies in not knowing where or how to start, what steps to take, or

Many sales departments focus heavily on filling the funnel—constantly trying to add more customers into the pipeline in order to sell more. However, this approach often distracts from deeper issues. If sales teams rely only on lead generation to hit their targets, they risk overlooking critical problems in process, product, and people : Process : Sales processes may not be aligned to consistently deliver successful results. Product : The offering may not fully match customers

Diffusion of knowledge – Knowledge transfer within an organization is a powerful tool to initiate or accelerate growth. Instead of...

Organizations have evolved around structures that dictate a clear distinction between management and associates, giving managers a...

Numbers today do not dictate whether your organization has the capability to grow in the future, yet they are the focus of leadership....

Most customers won't care, but some will. Therefore, we want to adjust our business as if we always cater to the few who do care....