Stalls are harmful thinking habits that delay exponential
growth. Let's look at three stalls that you need to avoid.
"Where Are We Going and How Do We Get There?" -- The
Directionless Stall
Many organizations have been drifting in the same direction
they have always been going, and find themselves lost when
an irresistible force suddenly pushes them at high speed
toward a new destination. By not knowing whether they want
to go to that new destination, they leave themselves open
to inaction and indecision.
Borders' slow commitment to on-line commerce shows that
problem. The company had been trailing Barnes and Noble in
large retail book and audio stores, which kept its
management very occupied with opening new stores and adding
financial resources. Published reports suggest that
Borders' management was unsure whether to add on-line
commerce as a business or not.
Borders then waited until both Amazon's and Barnes and
Noble's Web sites were operating before opening its
Internet site. As the third player to the party, it
increased the likelihood that the cost of acquiring
customers would vastly exceed those of its two key
competitors.
"But That's Not the Way I Thought It Would Be!" -- The
Wishful Thinking Stall
Most enterprises act as if they can anticipate the future
with a great deal of certainty. When an incorrect
assumption is made, actions become inappropriate for the
real situation. This is like following a road map that is
inaccurately drawn so that you end up driving to the wrong
destination, and only discover your error when you arrive
at the wrong place.
Computer makers for many years believed that the profits
would always be in selling the hardware. As a result, they
would not make their software available to those who
purchased other hardware. They waited for the world to beat
a path to their door, and the world went elsewhere.
Apple Computer is a good example. The company had an
operating system for its Mac products that was years ahead
of what Microsoft had available. Apple chose not to make
this software available to those with IBM personal
computers and their clones. Based on the recent stock
market values of Microsoft and Apple, this was a costly
error costing Apple shareholders hundreds of billions of
dollars.
"What Do We Do Now?" -- The Helplessness Stall
When the familiar and predictable environment becomes
hostile and unfamiliar, those responsible for an
enterprise's progress often feel unable to regain control.
They become hamstrung as a result of feeling overwhelmed by
events.
An auto parts supplier grew mightily during the automobile
boom leading up to the second oil shock, the one that
almost destroyed Chrysler. When the price of gas soared and
demand for cars plunged, colleagues reported that the CEO
spent day after day sitting frozen at his desk, unable to
make decisions.
Fortunately, colleagues seized the reins temporarily before
it was too late and made the necessary adjustments to
survive. In the meantime, millions were lost unnecessarily.
Copyright 2008 Donald W. Mitchell, All Rights Reserved
----------------------------------------------------
Donald Mitchell is chairman of Mitchell and Company, a
strategy and financial consulting firm in Weston, MA. He is
coauthor of seven books including Adventures of an
Optimist, The Irresistible Growth Enterprise, and The
Ultimate Competitive Advantage. You can find free tips for
accomplishing 20 times more by registering at:
====> http://www.2000percentsolution.com .
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