On a scale of 1–10, how much would your customers miss your company if it disappeared tomorrow?
Aside from the headache of moving to another supplier (the thought of which often holds unhappy customers captive), would anyone really miss you?
You should check. Most companies overestimate the answer. According to growth expert, Sean Ellis, less than 40% means you're on shaky ground.
Why does it matter? Because even though it's a very rough test, it indicates whether a crucial element is present in your company. And that element has the power to de-risk your innovation.
The Innovation Particle
Risk aversion is the chief stifler of innovation and change inside most organisations.
Risk is the prospect of what might not happen. A picture of the future with something or someone missing.
Ironically, what's missing inside many organisations is the very thing that can reduce the paralysing power of risk aversion. I call it the ‘innovation particle’.
It determines whether customers will keep buying from you, and the speed and quality of the work your employees can do for you.
In short it determines your sustainable relevance.
So what is it?
What They Really, ...
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