I had the privilege to attend an event that tells the story of the remarkable Domino’s Pizza Turnaround, Very inspiring. It inspired me to write this briefing. It is a story of courage of leadership that was willing to risk it all for a better future. This amazing turnaround is a display a classic case of Disruptive approach for business reinvention. Although it is not a recipe, it can be valuable to other companies to take the fundamental elements and apply them as appropriate to them. In my humble opinion, they are the company that ignites what I call the Age of Disruption, the new movement of social business reinvention.
So, what is the lesson here?
- The first role, there are no rules — stop creating rules to the game (as long that it is moral, legal and ethical, everything goes; I mean everything!
- You do not own your brand your customers do — news flash; you own the IP, the trademarks and the trade secret, the name, but not your brand. In the social media world, your customers do.
- Partner with your customers, make them a part of your business.
- Transparency is the new corporate politics.
- Play your hand “all in” or nothing — it is a game of 100% or nothing. You cannot do it half-ass or try to fake it and expect it to work.
- Dismantle your business, all of it — do not cherry pick to work only on what is easy and within your comfort zone, take head-on the challenging and hard pieces first, it will get much easier as the process progress.
- Play the press good and bad to your advantage — do not worry about the media. Taking on a turnaround initiative is not a popularity contest; it is about creating a new reality.
- Create a storyline — people tend to remember stories much more than dry facts. Storyline evokes emotions, and that creates a brand association.
- Be humble — do not rely on your success for long, the way back down is much faster than the climb to the top.
Well, I hope it introduces some value to the future of your business. The bottom line is that the future is waiting not to be late!