Six problems which keep companies down

Olivetti

The biggest problems that prevent companies to grow are:

1) Old tech
New technologies are much more competitive than old ones. New technologies do not provide anymore micro improvements but allow giant leaps in competitiveness. Not using latest tech is not about following trends but about using what works better.

2) No data
Lack of data to support the decision process will result in bad decisions and speculation. New technologies enable company access to more (big) data.

3) No understanding of data
Having big data is not enough. Incorrectly interpreted data will also result in a bad decision. Understanding big data requires a mature methodology.

4) Identity crisis
Not defining an independent and unique position leaves the company nowhere on the market, in survival mode. Avoiding the risk of making a clear choice is a slow suicide. There is no such thing as status quo.

5) No commitment to content
Content is not 20th century consumer advertising. Content influence on customer decisions has been exponentially increasing in all industries and markets. Not making a commitment to content as a way to deliver value, gain and retain customers leaves the company working only for the old customers who are too lazy to leave.

6) No proactive team change
Company will not grow without the team change. Not training or hiring the team necessary to support the growth means that the company is expecting the team to change on their own, which will never happen. Team change should be a directed cooperation, not a lucky accident.

Written by: Nikola Tosic
Publishing date: 17 Aug 2018