All successful business strategies are based on certain guiding principles, such as Google’s famous dictum: “You can make money without doing evil.” Whatever your line of business, the key to long-term sustainable growth is the right principles and staying true to them no matter what.
Even if your business is not in the technology sector, you can still benefit from knowing the unspoken principles that underlie successful business strategies that continue to serve Google, Facebook, Apple, Sun, Cisco, Amazon, and the other heavyweights well. of Silicon Valley.
These high-tech companies weren’t always big. In fact, they all started small. Many of them were not even the best or the first in their field. However, by the mid-1980s, they had surpassed their elders; more established and better financed counterparts on Route 128.
How did this happen?
Sociologists suspect that it may have something to do with the cultural and institutional values of that part of California. Silicon Valley’s industrial systems were built on regional networks, which are more flexible, adaptable and dynamic than other business districts in the US, which were based on independent and autonomous mega-companies.
Silicon Valley vs. highway 128 boston
In Silicon Valley, organizational boundaries within and between companies, trade associations, and learning institutions lead to knowledge sharing, collective learning, and collaborative endeavors. Big CEOs, start-up owners, interns, and new players would gather for coffee, brainstorm, and freely interact with each other.
In contrast, the Route 128 companies were very secretive about what goes on within the walls of their organizations. The information was highly compartmentalized, similar to that of military scenarios. Ideas flowed in systematic and hierarchical chains. This may seem like a logical process to you, but this process actually hampered innovation, another reason why those companies didn’t survive.
Silicon Valley companies have implemented many successful business strategies From its beginnings to the present, there is no doubt about that.
However, three of these strategies are consistently present in almost every company out there.
Innovate or perish, it is as simple as that.
Innovate, otherwise you stagnate and become redundant. Remember that there will always be better, faster and cheaper ways for consumers to do something. The good news is that there are always new needs to be filled, problems to be solved, and wishes to be fulfilled. Your company’s job is to find those opportunities and take advantage of them.
Take risks and don’t be afraid to fail while experimenting. Failure, for the resilient, is the first step to success. Accept your failure and learn from your mistakes, and then iterate and experiment some more until you get it right.
There wouldn’t be an iPod today if Apple allowed its failure with the Newton PDA in 1993 to get in the way.
Of course, no man is an island!
No business can survive in a vacuum. Communication should not be limited to one direction, or even just a two way street. The digital age we find ourselves in requires leaders and company leaders to have excellent business communication skills. This means having the ability to sell the vision of the company with colleagues, clients and investors, regardless of the person’s role and position in the company.
Hear what the public, staff and stakeholders of your business have to say. Share your ideas and get their feedback. Most Silicon Valley software makers release free beta versions of their upcoming products, which anyone can test, comment on, and even tweak and improve. Emulate the practice and chances are you’ll learn something new to improve your product or service. You will also earn a lot of respect and goodwill.
You can even forge authentic and lasting relationships, which is much Better than I-scratch-your-back-you-scratch-mine network arrangements typical among many commercial and professional establishments.
pay it later
Lastly, helping others is its own reward. Organizations with successful business strategies that incorporate social responsibility will earn the respect of their community.
© 2013 Incedo Group, LLC
