While doing a study of companies which are been seen successful in market, I have not come across a single company - having rested on the glory of a product or even products in its portfolio; that has given better than average returns to its shareholders for a reasonable period of time. I say 10 years.
Question comes to mind, why is it so?
Going through many a renowned & successful CEOs speeches, I found one thing common- no one talked much about the basket of products they have. They primarily talked about the culture, people and adopted processes which made people to come out of award winning products for their organisations, continuously – that made their respective organisations successful. In total, I can say it is their Winning Aspiration which made it happen.
Many CEOs have categorically put across their views and success mantras that they were or are successful due to their ability of laying down ‘Aspirations’ that helped them getting a continuous stream of products, enabling them to carve out success stories for their respective organisations.
Isn't it a simple thought? but still leaders fail to adopt & adapt it.
As rightly said by Peter Drucker, ‘The purpose of an organisation is to create a Customer’.
Another facet of success as per these successful leaders is that while having a winning aspiration, one should only play to win and not merely to play. Thus, making it clear that playing a game in business does not guarantee success. Playing to win leads to a situation wherein leaders have to take hard choices, dedicated efforts and substantial investment. Look out for one’s biggest competitor and lay down strategy to fight it out of the game. Marketing Myopia does come in the way that may toss you off the track but overcoming it, is what a leader should possess in him.
Product or products will spin-off continually & automatically, if a leader is focussed on a winning culture & Aspiration, conjoint with hard choices. Else, wait for the time, when time will go anti- clock wise for the leader and the organisation.