You Can Never Build The Future By Looking To The Past

Most troubled businesses improve operations as a first action. Starting with a model in training for a career, that model becomes established and perfected. Our success is built on this model. No model is perfect though and anomalies arise. But when the model is broken because of new innovations, the business must take another route to success. Karl Marx believed in a creative destruction paradigm shift in economics. As industrial revolutions occur it destroys old economics structures and creates new ones. So he believed capitalism was unreliable and unstable. Businesses must learn to adapt and not be afraid to invest in ventures that may seem like nothing at all.

Key Takeaways:

  • Business models will never stay the same, the anomalies will eventually override the norms.
  • Successful businesses fail due to a failure to adapt to the new and unknown.
  • In order to save a floundering business, you must not only optimize but also inovate.

“The truth is that innovation needs exploration because you can never plan your way through discovery.”

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