Money And Talent Are Not The Root Cause Of Apple, Amazon, Google, Or Netflix Success
Let's dive into the one reason that makes high-performing organizations so effective, how it impacts you and what you can do about it.
I can hear and read a lot about how it's difficult to compete with the "Big Tech" as they have plenty of money and attract all top talents. While the statement is true, many people miss that it's the consequence of something, not the cause. When they started, they had no money and top talent wanted to work in other companies. There is something else at play. It's critical for all to understand it if we want to level the game with those companies and be able to compete in a sustainable way in the tech industry.
We must ensure competition remains possible
As a citizen, I am both fascinated and terrified by those companies. On one hand, I am fascinated because they deeply changed how we all live with great products we all love. How could Apple V2 sustain this pace of innovation and right moves from the iPod in 2001 to the M1 Chips in 2021? 20 years of basically continuous customer delight, innovation, and market growth!
On the other hand, I'm also terrified by where the business landscape is going. For the first time in history, the biggest companies continuously try to disrupt themselves and capture new values in any field they can, enabling them to keep growing and maybe achieve what GE or Exxon couldn't: Become real global mega-corporations no one can compete with. Is it a good thing for the world and the tech industry to see a single company like Amazon being at the cutting edge of marketplaces, cloud services, consumer electronics, logistics and supply chain, automation, transport electrification, drones, AI, and virtual assistants, media production and distribution? They even started to step into healthcare. There are two important consequences with this new reality:
New players can't scale and become real competitors to the big tech as they get acquired or copied by companies able to execute faster and stronger.
It's only a matter of time for established players in any market before having to compete with the Big Tech and being at risk of major disruption, if not worse.
Work Culture is easy to understand, but incredibly hard to implement
This is why I think it's critical to understand what makes the big tech so effective and to also adopt their principles. On the paper it's pretty simple: they trust and empower their teams to do the right thing. In reality, it requires incredible discipline and consistency to make this a reality at the organization's cultural level, but this is the transformation journey we must all take.
This culture of empowerment is the root cause of innovation and business success. Not talent. Not money. Those are consequences of embedding such a culture in organizations. The Big Tech companies are very self-conscious of this and spend a significant part of their time to find the best way to foster, spread and scale such a culture in a very intentional way. Most organizations just don't and, as a result, get outperformed on 2 fundamental statistics:
75% of cross-functional teams are dysfunctional, leading to low employee retention.
88% of SaaS features do not get adopted by users. It's been above 70% for the whole IT world for the past 20 years.
Homeric is your partner in your Odyssey to high performance
Those are the problems we want to solve with Homeric. We want to assist teams in their journeys to become highly functional and significantly impact their customers. Homeric delivers tools and resources to show a path to a true culture of empowerment that will enable organizations to get better business results, high employee retention, and build a work culture that will, as a consequence, allow them to attract better talent and increase their bottom-line.
Want to know more or have questions about teams performance? Work culture to enhance it? We're always one click away, let's connect!