Your employer has them, you have them, and I have them. More importantly, the American Economy has them, as well as the global economy. There are many secrets out there to be discovered. The secret front and center now is to discover a vaccine for COVID-19. Once it is discovered, lives will be saved, virus treated, threat diminished.
Peter Thiel’s book, Zero to One, devotes a chapter to “Secrets.” These are tough economic times, but change is coming. Then, what will your company focus on? What will you focus on?
Do you believe or does company leadership believe that there are secrets out there? I do and my focus is to concentrate on them for my own company success and success for clients. Why? The discovery of these secrets Is opportunity. Opportunity identified turns into product or service that has economic value. Thiel suggested, seek out opportunity that delivers a market dominant position for your company, employees.
What does it take to find secrets – work, discipline, intention. What does it take to deliver secrets – Innovation. Unfortunately, innovation success through corporations Is not great. This fact dates back over 40 years. I wrote in a previous blog about the 2019 Drucker Institute Company Rankings. An element of the survey of 640 US Companies was on Innovation. The top innovation score (#1) of the survey was 212.3 which was higher than:
- #2 by 107%
- #3 by 112%
- #4 by 113%
- #5 by 116%
- #6 by 124%
- #7 by 124%
- #8 by 145%
- #9 by 153%
- #10 by 154%
- #640 by 420%
The aftermath of the COVID-19 – there will be change – the who, what, where, when, why, how is not clear. Before COVID-19, there was already change underway in every one of the 11 sectors of the NYSE –
- Financials
- Utilities
- Consumer Discretionary
- Consumer Staples
- Energy
- Healthcare
- Industrials
- Technology
- Telcom
- Materials
- Real Estate
There are corporations, pre-COVID-19, that were excellent at driving opportunities (discovered secrets) to dominate market position or support current customer requirements that translated into increased revenues, profits, cash flows, higher stock prices and market cap. They will return and continue. On the other hand, corporations that did not seek to discover secrets, innovate and achieve market dominate position will most likely return to status quo. I previously explained a status quo strategy, check out my LinkedIn Page.
For now, please consider two key tasks
You know this, heads down during this time of survival and struggle. All hands-on deck for employees, customers. This will continue but there is an end to COVID-19.
Devote some resources, it doesn’t need to be an army, grand scale, actually smaller, simple, funded strategically, concentrate on secrets out there in your market or industry is best. The secrets exist, just waiting for discovery.
Results – your business will come out of this and it could be stronger with discovered secrets, clearly identified, work underway to develop, deliver, pilot and commercialize.
My team can help with discovery of secrets, development, pilot, commercialization – check out the website.
Let the hunt begin for secrets.