Innovation keynote speaker Jeremy Gutsche shares a fascinating metaphor about a hill of opportunity to teach companies how to avoid complacency in business. He compares finding something you're good at to reaching the top of a hill. At the top of this hill, you are the best at what you do. Jeremy suggests that it's easier to stay on top of this hill than to find a new place to climb.
He uses the example of typewriter company Smith Corona to further illustrate this point:
"For Smith Corona, their hill was the world of typewriters. At any point in time, the company's innovation teams could make a better typewriter. But any other project would seem like a failure by comparison.
In retrospect, the computing opportunity seems obvious, but making kick-ass typewriters prevented Smith Corona from seeing any other opportunity."
Finding new opportunities -- and avoiding complacency in business -- requires companies to try new things and to fail. The key though, according to Gutsche, is to stay committed to the pursuit of something new.
For more insight about overcoming your own "hill," check out the FREE copy of 'Exploiting Chaos' here.
Being Good Keeps You On Your Hill
Jeremy Gutsche Discusses Overcoming Complacency in Business
Trend Themes
1. Avoiding Complacency in Business - Identify new opportunities by encouraging companies to try new things and stay committed to pursuing something new.
2. Embracing Failure as a Learning Opportunity - Encourage businesses to see failure as a stepping stone to success and a chance to iterate and improve.
3. Expanding Beyond Core Competencies - Explore new industries and opportunities that are not directly related to a company's current offerings.
Industry Implications
1. Innovation Consulting - Provide guidance to companies looking to break free from complacency and seek new opportunities.
2. Entrepreneurship Education - Teach aspiring entrepreneurs about the importance of embracing failure and exploring new industries.
3. Technology Development - Develop new technologies and solutions that challenge traditional business models and encourage disruptive innovation.