…ly important, you hold onto the historic knowledge each of those employees has about your business. To put it simply: people keep their jobs, companies keep institutional knowledge. This value cannot be underestimated.
…actitioners in the wild that make claims like “we will show you how to save $XXX, just give us $Y”. One friend once shared a story of a consulting team proposing to optimize for a percentage cut of the savings realized. Do you remember “termination assistance” from Up in the Air (pun intended)?
…revious simple point. Investors are extremely persuasive. They capitalize on “fear of missing out.” However, it’s important to realize that the opportunity cost is hugely mismatched between investor and company. As one particularly honest investor said to me (paraphrasing):
At the end of the day, if an organization perceives innovation as a dangerous fringe infection, it will resort to status quo in the manner that antibodies attack unwelcome foreign objects. If an organization encourages inclusive and thought-through transformation, it will thrive as an agile and innovative entity. Successful innovation is less an evolution and more a mindset change.