What’s the greatest killer of companies? Corporate consultants Benjamin Gilad and Mark Chussil, who have worked with hundreds of giant brands, have an answer: It’s waiting to act on something that needs to be done right now.
Practice saying sed non hodie. It means “but not today” in Latin. (Pronunciation: sed known hoe-dee-ay.) Why say it in Latin? Because it sounds better. It sounds scientific. And if you’re saying it in Latin, nobody else can understand the terrible, horrible, dangerous sentiment you’re expressing.
Sed non hodie is what too many big companies say in response to a possible slowing or reversal of growth. Every entrepreneur should learn from their repetitive mistake. Consider where the impulse comes from: Every company wants to maintain or enhance its performance. That’s good—it’s how capitalism is supposed to work! But their managers often react not by changing for the future but rather by extending whatever the company already has. In the process, they have no idea how to evaluate the outcome. Are they building up their company? Propping it up? Or just plain puffing it up? Some examples:
When did airlines’ cost- cutting go from sensible to requiring that passengers inhale before they can fit in their seats? They know someday a backlash will disrupt the model of sardines- ina-can. But…not today.
When did pharma’s infatuation with blockbuster drugs go from delightful jackpot to essential lifeline? Every pharma executive we’ve worked with— and in our consulting practice, we’ve worked with hundreds— laments the over reliance on a few blockbusters and the culture that pushes lesser drugs off the development track. They know it will have to change because pipelines of the Next Big Thing are running dry, but…not today.
The problem is not that feverish growth won’t last. The problem is not that stock prices rise and fall. The problem is that, judging by results, these companies have no idea what to do when growth stalls.
Bu hikaye Entrepreneur dergisinin March 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Entrepreneur dergisinin March 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
The Better Way to Fail
The next time something you do flops, here's a new way to learn from it.
Making the Midlife Leap
After getting laid off in her early 50s, Keri Gardner decided she wanted to control her own fate-so she bought a franchise with her 401(k).
A Quick Guide to Franchise Ownership Costs
Franchising costs money. Here's what everything means.
This Doughnut Franchise Is Hitting the Road
To grow, DonutNV needed a steady supply of delivery trailers. So last year, it started making them itself.
3 Steps to Find Your Perfect Franchise
There are many brands out there. Finding the right one is up to you.
This Fencing Franchise Is Ready for Growth
Superior Fence & Rail nearly doubled its sales in one year. How? By stepping back and focusing on fundamentals.
What Are a Franchisee's Role and Responsibilities?
If you're going to be a franchisee, you should know exactly what's expected of you.
This Dog-Training Franchise Is Zooming Ahead
After a rough few years, Zoom Room made major changes...and has emerged as a stronger, faster, very well-behaved business.
What's the Real Damage?
Most clean-up companies just fix messes, like fire or flood damage. But 911 Restoration's new CEO saw an opportunity to help with the other emergency they often encounter: customers' emotional trauma.
Mental Health Services, Franchised
The U.S. is facing a growing mental health crisis. Ellie Mental Health wants to be the solution.