Xv) Past And Current Successful Managers May Not Be Suitable For The New Business

Managers who have consistently delivered results in the past may not be suitable to deliver results in the new growth business. Rather than focusing on attributes or the magnitude of past responsibility, search for people who have had the mindset to confront the issues that the new venture will produce.

Need to keep an open mind and be flexible about what strategies to use in terms of products/services, customers and application

Need to be patient for growth but impatient for profit- if you require immediate growth, you may be pursuing the wrong strategy, such as focusing your disruptive technology into an established market. Furthermore, the sources of capital, such as corporate vs. venture, are not as important as a willingness to be patient for growth.

Remember

"...investments in sustaining technologies with extensive interdependencies across the value chain can indeed require years of massive investment......in disruptive circumstances, patiently enduring years of losses generally demonstrates that you have been pursuing the wrong strategy for a long time..."

Clayton Christensen et al, 2003

 

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