From time to time I like to revisit classic business books that have had an impact on me and my career. Recently, I reread Beyond Entrepreneurship: Turning Your Business into an Enduring Great Company by James C. Collins and William C. Lazier. Although it was written in 1992, its principles are still as fresh and effective today on the topics of leadership, innovation, strategy, vision, and excellence. The book is mostly timeless. I say “mostly” because there is one section of the chapter about innovation that is obviously from a bygone era.
The innovation chapter begins with timeless advice. Business leaders need to be receptive to ideas whether they come from inside your company or from outside. They need to stay out of the extremes of only working on idea-push or only listening to market-pull. Be the customer and work on an idea that meets a need or problem you have. When you have a great idea that meets one person’s need, the market will come out of the woodwork.
DON’T BE FROZEN IN FEAR BECAUSE YOUR IDEA MIGHT NOT WORK OUT. JUST DO IT. TRY IT. TRY IT ON A SMALL SCALE, BUT TRY IT. BE CREATIVE AND BE INNOVATIVE.
After this bit of advice, the authors cite the example of Apple and the amazing innovation they displayed between their humble beginnings in the 1970’s through 1985 when Steve Jobs left. But then the authors give a commentary on Apple that yanks their book out of timelessness and clearly shows that they are looking at the world through 1990s glasses:
We found ourselves wondering whether we should include Apple examples in this book. Apple has displayed three of the four elements of greatness (performance, impact, and reputation), but we’re skeptical about the fourth (longevity). Will Apple be a great company in the year of 2040? Given the fact that between 1984 and 1991 there were no new major breakthrough innovations…we’re concerned about Apple’s long-term prospects for greatness.
Now 25 years later, we live in a world that has been forever changed by the iMac, iPod, iPhone, and iPad. It’s hard to remember back when the future of Apple was uncertain and on the brink of bankruptcy. The authors’ description of Apple’s uncertain future in 1992 is accurate. But even through the hard times, Apple kept at it. They innovated. They created. They didn’t give up.
WHERE IS YOUR BUSINESS RIGHT NOW?
Can you identify with Apple from 1992? Are you discouraged and uncertain about your future even though you have had success in the past?
Don’t give up. Try something new even if it’s risky or success is not guaranteed. Find an idea. Then just do it.
If you are stuck in uncertainty in your business, please contact me. I’d love to listen to you and guide you to an innovative and successful business plan that showcases your strengths and ideas.
