There's a 94.5% chance your company isn't competing with the 1% of companies that regularly get called out for how they approach product. We will let it slide for a moment that 1) the reality inside the 1% is rarely as rosy as what gets communicated publicly, and 2) this statistic is completely made up (but directionally correct).
Most companies don't value learning, so they wouldn't notice even if you showed them better practices from competitors. The rhinoceroses who are bashing into new markets with their stubby horns and rapid iterations don't scrub up well next to the unicorns. The phrase "successful experiment with a negative result" has to become common parlance before an org is ready to learn from others.
Similar to individuals, companies that are genuinely introspective and operate with a "growth mindset" towards their strategies, culture and systems have an incredibly higher likelihood of long-term sustained success. It's rarely about cargo-culting.
I believe much of this is tied to an unwillingness to fully embrace the challenge of iterating towards what is best for the situation you are in. Too many folks are hoping to find an "easy button" by just copying what someone else is doing. Copying-and-pasting processes doesn't work. Engage those brains and shape your own future!
Michal makes good point. How can you learn about your competitors ways of working? I love the topic and I was hoping it would go deeper into the unicorn theme. Working in project management my entire career I often do feel like a unicorn. We can do a lot of magic to make things happen. It’s all behind the scene 😀. But unicorns aside, you make a very good point about the importance of ways of working. Without it it’s just chasing and there will never be a potential to grow because your best talent and biggest client/customer will leave.
I was saying something similar to this recently. There are many things that lead to the success of those 1% companies that either can't be or shouldn't be copied. In a booming industry or vertical, new technology applications, paying for top 1% talent because their margins allow, etc.
It's easier to read/ listen to those soundbites and nod our heads ("Yes, that's what we should be doing. They do, we should too!") than it is to analyze our current situation and apply critical thinking. However, the value is in the hard work done to understand your context and develop your solution.
How would you go about deducing competitors ways of working? Look for company blogs, LinkedIn, RFP responses, etc?
Most companies don't value learning, so they wouldn't notice even if you showed them better practices from competitors. The rhinoceroses who are bashing into new markets with their stubby horns and rapid iterations don't scrub up well next to the unicorns. The phrase "successful experiment with a negative result" has to become common parlance before an org is ready to learn from others.
Similar to individuals, companies that are genuinely introspective and operate with a "growth mindset" towards their strategies, culture and systems have an incredibly higher likelihood of long-term sustained success. It's rarely about cargo-culting.
I believe much of this is tied to an unwillingness to fully embrace the challenge of iterating towards what is best for the situation you are in. Too many folks are hoping to find an "easy button" by just copying what someone else is doing. Copying-and-pasting processes doesn't work. Engage those brains and shape your own future!
Nice article! In my opinion, speed of learning is a good predictor. I love the idea of getting more focused by doing customer discovery regularly.
I just recommended this edition of the news to my audience in Twitter because is SO on point. At least with me and these days of work
Michal makes good point. How can you learn about your competitors ways of working? I love the topic and I was hoping it would go deeper into the unicorn theme. Working in project management my entire career I often do feel like a unicorn. We can do a lot of magic to make things happen. It’s all behind the scene 😀. But unicorns aside, you make a very good point about the importance of ways of working. Without it it’s just chasing and there will never be a potential to grow because your best talent and biggest client/customer will leave.
I was saying something similar to this recently. There are many things that lead to the success of those 1% companies that either can't be or shouldn't be copied. In a booming industry or vertical, new technology applications, paying for top 1% talent because their margins allow, etc.
It's easier to read/ listen to those soundbites and nod our heads ("Yes, that's what we should be doing. They do, we should too!") than it is to analyze our current situation and apply critical thinking. However, the value is in the hard work done to understand your context and develop your solution.