What Are You Waiting For?

Now is not the time to innovate.

Now is not the time to experiment and take risks.

Now is not the time to do anything rash, just hold the course.

No way.

Those three comments are attributed to CEOs in the last week when asked about their growth strategies. I was disappointed to hear such responses because each of them are the exact opposite of what leadership should be thinking -- that is if they want to grow their businesses and at a minimum maintain market share.

Now is the time to innovate

The ready made excuses for not innovating at this time are budgets, the economy, and we have to cut back. So the economy is challenging? No kidding. Reductions have to be made in certain areas? You should be examining your costs every year regardless of the economy. So that excuse doesn't hold water either. Your budget process is so old style is leaves no room for adjustments? Get with the new fluidity of business if you want to survive because a once a year budget isn't moving fast enough to keep pace with the world of commerce.

Innovations need to be happening every year, every day, and in every meeting. In this economy more than ever innovation needs to be at the forefront of your growth. Fear is causing people to hide and stop necessary business practices that feed the long-term health of the organization. Innovation drives growth, which creates positive activity within an organization, as well as, fuels positive attitudes which are critical to keeping the executives and the workforce focused on making things better. This economy is all the more reason to innovate, to better position your company and to create operational improvements.

Now is the time for experimentation

In talking with a restaurant owner we kicked around ideas to attract customers. We thought of many great ideas to create buzz and establish a unique message without alienating the foundation of the organizations products and services. Unfortunately, the loss of energy stopped the experimentation before it started. There is no doubt this economy is sapping people's energy and drives to try the new and different. To hear one business owner, he is just trying to put one foot in front of the other until we get back to the way it was. It’s never going to be the way it was.

Executives need to find ways to be profitable and grow in the way it is. Trying new things in products, marketing and leadership approach will have great results if you keep at it.

Try something rash and do not hold steady on your current course

Holding steady is one of the contributors to the downfall of the Big Three auto makers in this country. They didn't react fast enough to changing labor trends and customer expectations. Instead, they kept doing the same type of things they always have done. If we can put a man on the moon with the power of a slide rule, don't you think we could've invented a combustion engine that could get 200 miles per gallon?

The 1970's had the first wake up call this industry missed between the oil shortage and arrival of foreign cars. If they had decided then to try a different course of action other than seeking protection, we'd have efficient vehicles who could reach 200 MPG.

This economy is America's big wake up call. If we decide to hold steady on the course we have been in we will end up like the Big Three. I'm not saying panic at all, what I am saying is we need to crank up the innovation machines and the desire to grab hold of the new economy, and do something rash – like fight for the opportunity to be the best in a global market.