Evolution and Innovation on the Fringe

24 09 2012

As business owners and leaders, it goes without saying that you are focused on your core business.  You know what works and you strive for perfection.  You drive profitability through growth in what you do and efficiencies in the way you operate.  This focus is essential and without it, the business will surely fail.  You are already one of the fortunate few who have succeeded in bringing a unique idea to fruition.  Your business now brings tremendous satisfaction to you and your top executives on many levels.  And most importantly, it makes you and your employees money.  You have the distinct advantage to make the most of that original concept.  How big do you want your business to be? Moreover, how long do you want it to last?  Are you happy with the status of your business?

You should know one thing for sure, that if you remain forever focused solely on your core with a blind eye towards evolution  and innovation on the fringe, your business will begin the cycle of decline and ultimate death.  Your idea and opportunity will eventually run its course and you will probably be at the helm while it does.  Without evolving on the fringe and bringing impactful new opportunities to your business, failure is inevitable. If you refuse to invest time and energy on the innovation, you should consider selling your business and pulling out the value while it still has value.  Or perhaps you consider yourself a proud captain and wish to go down with the ship.  Would you then speak bitterly about the last few years and reflect on a changing economy or a powerful competitor shrinking your margins and ultimately forcing you to shut your doors forever?  Would you think that your original concept just failed to develop further?  Or to the contrary, did you actually fail your original concept?  Would you recognize and reflect on the fact that by focusing on one thing and one thing only, you did not give your business the necessary lifeblood to succeed in the long term?

Perhaps, on the other hand, you will have a chance to be thankful that you truly understood fringe benefits that come from owning and/or leading a business through evolution and had decided long ago that you were going to be one of those rare individuals who took full advantage and as a result, your business is now thriving and capable of bringing you more satisfaction than you ever imagined possible, more growth than you felt you were capable of achieving and more flexibility than all of your competitors.  By innovating and evolving on the fringe and enjoying the benefits that are sure to come, you will do nothing short of saving your business.

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