When is the right time to "place the bet"?
No I am not into gambling or the horses for that matter. I am referring to the new idea, new region, new product that a company creates (referred to investment areas). During the growth of any business new products, regions and/or ideas are created and launched into. Most businesses that do this organically find it difficult to really invest in these products "properly".
Existing methods for "proper" investment are difficult to obtain and what's even more difficult is determining the internal investment. How do you focus on multiple "investment areas" effectively? How do you invest in them that can fully realise their potential but at the same time allow you to hedge so that the core business doesn't fail?
Is it possible to hedge and also ensure that each investment area has been invested in to the max?
I ponder about this all the time and wonder if we should "properly" invest in this no, no maybe not. Maybe we should in invest in something else or the next idea???
Some part of me almost would rather place the bet in an all or nothing approach that at least allows for no regrets. As they say no guts no glory... but sometimes it's the no guts that tells you that now isn't the time and this isn't the right idea, but you then go on with life regretting...
If I was to use Jim Collins' recommendations from Good to Great, it would be to invest BIG in the product you can be the best in the world at. I love it - simply but so powerful.
I guess I don't think I will stop pondering... but hopefully the pondering will stop soon and the betting will begin...
(BTW, I'm back to blog a little more)
Labels: good to great, hedge business ideas, innovation, Jim collins


2 Comments:
For me it is always right whenever the right opportunity presents itself, a common thought but its simple.
Friday, March 26, 2010 9:17:00 PM
Have a go I reckon... You obviously already abide by this or you'd not have built the business you have. I salute you for that.
There was a quote I read recently.. something about "It's better to strive for something great and fail, and to strive for mediocrity and succeed". I think it relates to your post.
cheers
Virgo
Tuesday, August 10, 2010 9:33:00 AM
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