Business building is a requirement for long term success and can be done with organic and inorganic growth.
There’s a proven set of assets, skill sets, recipes, and knowledge to help clients build their businesses.
- In the Fortune 20, if you compare that list today to 20 years ago, you find that it’s 90% different.
- Each company on the list today is basically a serial business builder.
- It was either a startup in the last 15 years and scaled massively or it was successful before and continued to reinvent itself through business building.
All business building, if done properly, must be rooted in a larger strategy.
- Business building has to be anchored in the strategy of the company.
- Ultimately, the purpose of a new business build is to help deliver the enterprise strategy.
- Ground the new business build in an idea that creates real value.
Think about the assets in the core company to selectively leverage into the new business.
- There are cultural differences between the core company and the newer startup business, so don’t connect them too much.
As the business matures, the way you measure success evolves.
- Initially, you may measure success with delivered milestones, MVP, customer engagement, feedback.
- Eventually, you want to measure real P&L value creation and assess whether it is achieving what is desired for the enterprise.