Exceptional Product Leads To Exponential Growth
In a world that has conditioned human beings to accept “average” as the acceptable standard, it is inevitable that our attitudes, efforts and behaviour will be limited to being content with “okay”, or at best, to being “good enough”. I think it is time we all pause and take a step back to assess why this is the case.
As human beings, we are generally operating on “limiting assumptions”. Assumptions that lead us to believe that it is acceptable to be good, and that good is good enough. The famous Jim Collins “good is the enemy of great” statement seems to be regarded as rhetoric. Maybe it is regarded as such because the meaning of it is possibly misunderstood, thus not implemented in practical terms.
In practical business terms, being a good business easily translates to easy growth of that business, incremental growth, or what I like to call “vanilla” growth.
In the context of increased expectation, increased competition and increased financial pressure from procurement, as advertising agencies, it is dangerous to settle for easy. Because easy does not come with differentiation and distinctiveness. Easy does not deliver exponential growth. Easy will never set you apart from the competition.
So too, easy comes and easy goes.
Purpose, the first step to eradicating easy
As business leaders, it is important to properly define our business purpose so that, in everything that we do, we work towards delivering on that purpose, no matter what.
This comes with a step change in individual and business attitudes towards output. By step change, I mean we would need to begin by asking ourselves “Why are we settling for incremental growth when we can grow exponentially?” Of course, I am acutely aware that making a profit is an absolute necessity for any business to survive and thrive, but if the focus is only on the margins and profit, this may be a blind spot that business leaders should become cognizant of, because this is when the product we are selling becomes compromised, at the expense of making a profit.
If we continue down this path of profit over purpose within such a highly competitive environment, we will very quickly have no businesses left to run because of not delivering true value, and in doing so, growth to our clients.
Product, the true currency of our industry
The greatness of the product is what I believe, will deliver on the growth of clients, and in turn, the growth of our profit. It is when we acknowledge and accept that it is through the greatness of our product that we will truly be serving our clients, that we will move from incremental growth to exponential growth.
A research study from the IPA and Thinkbox, in conjunction with The Gunn Report, revealed the direct correlation between exceptional advertising creativity and exponential business success. The study shows that the most creatively awarded advertising campaigns are 11 times more efficient at delivering business success.
So, the big hairy audacious goal is to grow exponentially on the back of an exceptional product. Because a differentiated and unique product by nature attracts a higher price tag, thus increasing and sustaining the profit margins, fueling exponential growth.
The ultimate responsibility of leadership
But purposefully built product comes at a huge responsibility for leaders.
It challenges us to always come from the right place. It dares us to invite people on our journey towards understanding and believing that obsessing about delivering a great product will not only lead to exponential growth of self, it will also lead to exponential growth of the people around us, the exponential growth of our clients, and ultimately, the exponential growth of our country.
Now wouldn’t you like to get up in the morning to be part of that?