Stay ahead of the curve by knowing when to jump to a new one.
In business, the cycle of growth and maturity—often depicted as an S-curve—is an inevitable reality that the best products, markets, and business models can’t escape. The most successful companies reinvent themselves constantly to stay ahead of the wave of competition crashing behind them.
To position your business to jump to the next S-curve, pay attention to the following:
Competition. If your product is unique, it won’t be for long. Once competition enters the market, brands are challenged to fight for market share, and victory is awarded to the latest innovator. Keep an eye on competition and a heavy foot on the R&D pedal.
Capabilities. If your company is growing along the financial S-curve, chances are your business is equipped with creative, distinctive products or services. But distinctiveness is fleeting, so invest in developing new ones before your competition renders them commonplace.
Talent. Develop the talent that helped your business grow into the upwardsoaring, S-curve rocket it is today. Because when the time comes to find another curve, you’ll need a group of people who have done it with you before.
Learn more about how your company can stay ahead of the S-curve.