"Over 71% of the firms in the Inc. 500 list of newer, faster-growing companies were started by individuals who duplicated or modified innovations at their former employers."* In other words, most innovation is being done by people who felt compelled to leave their companies in order to create new products and services.
Consider the implications this has for a maturing B2B manufacturing company.
If your line card hasn’t changed recently, then you are an easy target for talent defection. Worse, you are an easy target for commoditization. You become your own enemy as your organization sells itself short.
And the reason for this?
Business leaders allow their people to fall in love with their products. The connection between innovation and growth is this simple: Companies whose organizations are focused on line card marketing have misplaced their passion. It’s not so much the products that matter. It’s the reasons why you set out to create those products in the first place.
*Source: Baruch Lev, in his book Management, Measurement, and Reporting. Dr. Lev is a world-renowned researcher and consultant on business valuation, and professor of finance and accounting at New York University.
jb
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