The Bottom Line
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A constant state of change, continued ...Published: January 01, 2010
On a recent trip to Korea, a Samsung executive said that every company
head must accept the reality that nothing is ever more than 10- to 15
percent complete at any
given time. This sobering assessment comes from
a world leader in consumer electronics. Think about it: He’s suggesting
that 85 percent of what executives and business owners manage every day
is in a constant state of flux. Companies call it development, but you
can label it re-invention. Whether it’s overhauling or improving a
product or service, or developing an entirely new widget, it’s about
staying fresh and relevant. The variables at play are enormous, and the
stress is intense – from the board level right through to the
investors, employees and, ultimately, the consumers. It takes patience
to re-invent your product or service, and a willingness to fail.
Michael
Jordan once told his Chicago Bulls teammates at the start of a
championship season, “I can accept failure; everybody fails at
something. What I can’t accept is not trying.” Re-inventing yourself or
your company has risks. But isn’t it riskier to do nothing?
In
June, Churm Media and OC METRO will celebrate its 20th anniversary, a
milestone, considering many media entities like ours have merged or
disappeared in recent years. But our future will be directly tied to
our ability to lessen our dependence on traditional print revenue and
expand non-traditional “new media” revenue sources. We have more than
doubled online revenue in the past 12 months, and our marketing,
communications and design firm, RipeOrange, is contributing
significantly to the bottom line. Special event revenue, video
production services and custom media projects for clients are growing.
Change is what we do and have been doing.
So when Borgatta
suggested a story about why and how companies are
re-inventing themselves, I endorsed the idea. What better way to
bolster our economy’s recovery than by helping others strengthen their
companies? schurm@churmmedia.com
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| A constant state of change, continued ...Published: January 01, 2010 |
On a recent trip to Korea, a Samsung executive said that every company head must accept the reality that nothing is ever more than 10- to 15 percent complete at any
given time. This sobering assessment comes from a world leader in consumer electronics. Think about it: He’s suggesting that 85 percent of what executives and business owners manage every day is in a constant state of flux. Companies call it development, but you can label it re-invention. Whether it’s overhauling or improving a product or service, or developing an entirely new widget, it’s about staying fresh and relevant. The variables at play are enormous, and the stress is intense – from the board level right through to the investors, employees and, ultimately, the consumers. It takes patience to re-invent your product or service, and a willingness to fail.
Michael Jordan once told his Chicago Bulls teammates at the start of a championship season, “I can accept failure; everybody fails at something. What I can’t accept is not trying.” Re-inventing yourself or your company has risks. But isn’t it riskier to do nothing?
In June, Churm Media and OC METRO will celebrate its 20th anniversary, a milestone, considering many media entities like ours have merged or disappeared in recent years. But our future will be directly tied to our ability to lessen our dependence on traditional print revenue and expand non-traditional “new media” revenue sources. We have more than doubled online revenue in the past 12 months, and our marketing, communications and design firm, RipeOrange, is contributing significantly to the bottom line. Special event revenue, video production services and custom media projects for clients are growing. Change is what we do and have been doing.
So when Borgatta suggested a story about why and how companies are re-inventing themselves, I endorsed the idea. What better way to bolster our economy’s recovery than by helping others strengthen their companies? schurm@churmmedia.com
<<< PREVIOUS PAGE
