Some CEOs are tempted to think of a baseball analogy when their companies fall behind the competition: All you need to do is tie them in the ninth and then slap a single for the go-ahead run at the bottom of the inning.
In business, trying to tie the competition in the ninth almost ensures you will lose the game. Your competitors refuse to stand still. While you’re implementing a set of standard operating procedures with a handful of best practices, your competitors are continuing to push ahead. They are looking for what really creates differentiation— emerging best practices. It’s difficult to grow revenue faster than your industry’s growth rate and faster than your competitors. The Revenue Growth Diagnostic interactive tool will help you determine if you are likely or unlikely to make your number.
As CEO and leader of your company, you chart the course for the future. That means executing against a leapfrog strategy if you can pull it off. In the sales and marketing arena, it calls for a dedicated effort to embrace emerging best practices. Many of these emerging best practices challenge your team because they come from outside your industry. So they will seem alien upon first inspection. And adoption may require organizational change. But in that change and in that adoption, your organization will gain strategic differentiation.
Think twice if you catch yourself asking, “Are our competitors doing this?” or “Has this been deployed in our industry?” Instead, ask, “Who is an established leader in another industry through adoption of emerging best practices?” and “How can I port these to my industry?”
If you use that thinking as your calculus, you’ll end up embracing a series of differentiated emerging best practices that will create a strategic and sustainable competitive advantage. In and of itself, this approach drives the lift you need to make the number and achieve the payback on your investment in people, money, and time.
If you would like help with this subject, come see me and my partners in Dallas at The Studio, SBI’s multimillion dollar, one-of-a-kind, state-of-the-art executive briefing center. A visit to The Studio typically results in getting 3 months of work done in 3 days. The immersive sessions accelerate everything, dramatically reducing the time it takes to diagnose a problem, develop a solution, and create an implementation plan.