At point A or Point B?
If you are a leader or business owner and you want to continue or boost growth than you must consider reinventing your brand or business.
In a previous post I discussed What to Reinvent?
And in another post i discussed the importance of developing a compelling Why Reinvent Story?
In this post I will outline the related question – When to reinvent?
The Sigmoid Curve is a useful place to start (see the picture in this post).
Without going into the maths of the shape, think about the Sigmoid Curve as being the story of every life, product or business.
There is a start, period of growth, a plateau and decline.
I have drawn two points – A and B.
You can reinvent at Point A or Point B (or do both?).
But let’s consider the pros and cons of reinventing at each point.
Reinvent at point A (the growth period)
The Pros:
– You can create a new growth curve
– Have resources
– Can experiment
– Winning culture & performance in the market
-Proactive
The Cons:
– Why Change? i.e. if it is not broken …
– Lack of engagement and urgency
– Perceived as risky (i.e. moving away from a winning formula)
– Loss of focus
Reinvent at Point B? (i.e. in decline)
Pros:
– Provides a rallying call and a call to action
– Very focused
– Nothing to lose
Cons:
– Limited resources
– Lack of confidence
– Greater competitive pressure
– All or nothing
– Feeling of losing in the marketplace
What to do?
As you can see there are pros and cons about both Point A and Point B.
My feeling is that it is easier to do it at Point A but my experience is that most leaders and business owners only consider it at Point B.
Would the answer be different if you were thinking about reinventing your career?