Businesses go through stages of growth with often difficult transitions between them. From rebellious, eager start-up, through the early-stage swelling of ranks as positions get filled to cope with the successful sale of product, beyond that to scale-up to try to take a significant chunk of the available market. Then with continued success comes new products for existing markets and new markets for existing products.
Turnover is growing, profits are growing, there are now substantial teams for every function within the company and a board, where there used to be just you and your fellow founding team. The company’s cash reserves, your shareholding and your take home remuneration all look very healthy.
But at some point, at any point along this journey and perhaps at many points along this journey the focus so necessary to progress from one stage to the next can cloud over developing issues. Why is profit per capita diminishing? Why is rate of growth on a slightly reduced gradient? Why have we slowed in our pursuit of market share? Why are our competitors less interested in us? Why are sales taking longer and are harder to close? What has reduced the activity on the customer feedback channels?
Because many effects could cause these changes, they are often all too easily ignored as transient, or due to the state of the economy, or the exchange rate, or holiday season or …..
However what is often the case is that the very innovation that led to the great success of the company as a start-up has been diluted by the weight of diligent and functional staff, there to perform their function and do so efficiently and effectively. The very path that leads to an organisation with impressive financials simultaneously leads to its potential eventual demise.
Innovation can easily disappear from a company at any time along the relentless path to short term financial success. Indeed innovation is a cost that some efficiency experts might be tempted to massage away to increase the bottom line and excite the shareholders.
The problem is that unless you are in a market where you have no competition either direct or indirect, where you have a completely loyal customer base that never needs replenishing and that you have a product that is perfect as it is, without innovation your company will eventually fail either by being out-innovated by a competitor, or by shrinking margins as you engage in a race-to-the-bottom in a market you start commoditising simply by continuing to turn the increased-efficiency screw. Your company needs innovators, whether they are entrepreneurs or intrapreneurs.
Whether you bring on Tinnoco as management consultants, coaches, mentors, trainers or directly as contracted innovators, we can turn this situation around no matter how late in the day you realise this has happened. We offer one-to-one coaching, analysis of the state with a report on how to turn things around, consultants to implement the changes, specialists to offer training to teams, departments or divisions and on-the-ground contractors to come in and spearhead a rebirth of innovation within your company.
For more information please follow the menu to explore the services listed under Consulting and Mentoring/Coaching. If you cannot see exactly what you want contact us to discuss a bespoke package of work.