“Kill your cash cows, or someone else will.”
– Steve Jobs
- Creative Destruction = What Netflix did to video rental, Amazon did to department stores and Uber is doing to taxi cabs.
- Every company needs to go through a process where they either do a major pivot in their business or demolish the old processes that got them through their small business, start up stage.
- Be willing to say goodbye to the old ways:
- Sales people bid on business opportunities.
- Operations staff processed the workflow that takes a client order from contract to delivery.
- Finance allowed money to flow through the business. Every company is worth far more as a sustainable subscription business and NOT a transactional sales company.
- Leadership managed & communicated with it’s people.
- Of Hiring. It’s time to put a better team on the field.
- Priority = Margin Control and building process.
- Financing the growth
- Attracting talent that knows more than you do
- Defining your niche
- Building your reputation
- Dismantling your early success
- Reinvest in the business