12 October, 2014

Act like you are alone and in a start-up scenario (Because you probably are)


Working in large companies in mature industries you are likely to feel a degree of safety and security in your employment. There is an illusion that it is a lot safer than being on your own in a start-up situation. This might not be the case at all and you could benefit changing your mind to think like an entrepreneur.

The illusion of safety

In mature industries, companies often follow a red ocean strategy of direct competition with like minded competitors – deliver more for less – every year – until somebody changes the rules. The company is likely based on a long and glorious history of growth, results and acquisitions and is founded on the logic that history success guarantees future success. This logic works fine until somebody decides to change the rules of the market through disruption. Size and capital is not the guarantee for survival it used to be.
Even if you are a great employee and the company want to keep you they might not be able to in their fight for survival. Maybe it is time to pretend that you are on your own and fighting for relevance in an environment that is changing faster than ever (because you probably are)

Is your behavior locked in the logic of your industry?

Many employees follow a strategy similar to the red ocean inside the corporation. The impression of collaboration coexists with hidden competition amongst co workers: Deliver more for less until you get chosen for promotion.  This competition for reward and promotion is rarely expressed but nevertheless very real and permeates the decision making processes:  Who are favored and gets the power. You are not likely to get your promotion by competing: Doing more for less. There is no logic in promoting hard workers.  If you don’t find yourself in this situation, you won’t feel envy when your colleagues get promoted instead of you – you will keep working hard until it is your turn or you don’t want promotion at all.

Is there another way?

If you do have ambition, it can be worth looking at the company the way many start-ups look at the market they want to engage. Rarely do they choose to battle the industry leaders head-on in a red ocean strategy but rather follow a blue ocean strategy.


Red Ocean Strategy
Blue Ocean Strategy
Compete
Complement
Beat Competition
Make competition irrelevant
Exploit exiting demand
Create new demand
Work with value cost trade off
Break value cost trade off




Rather than competing with your co-workers – find ways of complementing what they are already doing. Explore new ways of creating value for the organisation outside the current scenarios. It might not be easy but this is what new start-ups face every day and you can learn from that. You will have to challenge the existing thinking and the rules they are based on, and you are likely to face resistance. But if you don’t, you might find yourself competing with somebody willing to do your job cheaper or you will be competing with a machine.


If you can’t win – change the rules


Peter Diamandis



No comments:

Post a Comment