The Book - The Silver Lining
Throughout history, forward-thinking businesspeople have launched game-changing innovations and entire businesses during economic downturns — and have gone on to achieve astounding success. Consider: Hewlett-Packard, United Technologies, and Revlon all started in the Great Depression. And Microsoft, Genentech, and The Limited were all founded during recessions.
How have the innovators behind these breakthrough firms managed this feat? In The Silver Lining, Scott Anthony shares insights gleaned from extensive examination of winning companies from a diverse array of industries.
He lays out the three rules of thumb essential for innovating strategically when times are lean:
- Stop low-potential innovation initiatives through judicious pruning of your portfolio — then rechannel freed-up resources into your most promising initiatives.
- Change key innovation processes. For example, target your most value-conscious customer segments and reconfigure your offerings to not only reduce costs but also deliver new benefits customers are eager to pay for.
- Start the personal reinvention required to remain flexible in the face of constant change. For instance, get comfortable with the paradoxes inherent in downturns — such as having to run your company’s operations with laser-like precision while also fostering creativity.
In any bust time, you need to pare costs to the bone while also planting and nurturing the seeds needed for tomorrow’s growth. This practical and compelling book — packed with powerful ideas, tools, and examples — positions you to surmount this seemingly impossible challenge.