Incremental improvements to the same business model can lead to success, but that success can also be limited. Today's business climate demands more, according to Indian River Consulting’s Mike Marks in New Year, New Approach to Business. When a distributor feels that change within its company is moving at a comfortable pace, Marks says, it’s a sure sign that it's actually falling behind.
Market share incumbents held hostage to the old ways of doing things are losing ground to “rule-breakers,” innovative market share challengers with a fresh perspective, Marks says. The philosophy of slower evolutionary change works in stable market conditions, but not so much in the uncertain and volatile climate we've seen in the last few years.
Revolutionary change can transform disadvantage into advantage, because it changes the game. It focuses attention on how your business is different in an increasingly uniform market, Marks says.
Distributors shouldn’t wait around when it comes to implementing revolutionary change. “You need to do something now instead of just talking about it,” Marks says.
To learn more about gaining a competitive edge by playing by your own rules, read New Year, New Approach to Business.