My prediction for 2021 is that ‚business building‘ will make the difference between success and failure. A new wave of ‚intrapreneurial‘ innovation will be the winning formula for the coming years. Entrepreneurial concepts, like buying companies or starting new ventures, will be less successful than new ideas which boost organic growth and improve the strengths of your company.
Business building opens the path to new digital products, distribution channels, and services to meet the opportunities of an ever faster changing world. Covid-19 accelerated the need for the transformation of established business concepts. You have to keep pace with constantly shifting customer and market trends.
Looking for insight along your value chain is more important than deal making, because you readapt your success factors to the changing environment. True business builders will increase resilience in a crisis and during a time of radical market changes.
Winning companies are successful from day one because they are built for scale and real demand and not for the gratification of some manager’s or owner’s pet project.
Creating a customer base at a cost that will allow you to achieve profitable sales may sound like an easy task. But building any such business requires inspirational leaders and competent external experts.
Don’t bet on single business areas and corporate units, diversify risks around the core of your company. Combine your traditional corporate strength with the agility of a start-up. Identify cross-functional teams who are willing to manage the building process and who challenge your roots with drive and extraordinary initiatives.