Several months ago, I discussed the case of KODAK. We all know the World Wide brand, but I used KODAK to illustrate that many business models gets disrupted, if not proper managed. We all know 3M went from mining to the screen (as a sticker :)), but I did actually ask the participants what KODAK could do with the market, currently disrupting the need of traditional film. I believe the question has been answered, and KODAK just announce a joint-venture with Microsoft Surface. See http://stimulant.io/wp/index.php/2009/09/stimulants-surface-experience-for-kodak/. Any business can evolve from a business model into a new and more innovative business. Here is how you do it:
- You will need to staff probably (I would say accurately), and don’t staff poorly with one director (who can share resources)
- Find a thrilled and market-knowing leader, and guard that person
- Budget for resources ($$, people and focus), and budget for profit/loss!
- Ask for executing and plans
- Setup review/coatch meetings, daily, weekly or whenever you need it
- Don’t make the new business go for “buy-ins” (it is ridicules how senior management like this bull s*** term), they are actually attacking the old-business, as a CEO you will be the man-in-middle, step up!
- Give the new team control, ownership and let them drive for the success-rate
Remember – it’s is everybody’s business, but if you do not make it somebody’s and that person has an opportunity to thrive – you are just building to fail, rather than building for success.