MODERN ENTREPRENEUR
The 5 biggest handbrakes on Momentum
By Michael McQueen
From Sony to Microsoft , Adidas to Alcoa , and Billabong to Lego , many a brand has lost their mojo at one time or another . In research surveying hundreds of brands and business leaders over the past 6 years , a sizable 34 per cent of respondents describe themselves as having less momentum now than they did five years ago . These are businesses with sound financials , proven revenue models and solid value propositions . And yet they have struggled to maintain dynamism , vitality and growth over the long haul .
I vividly recall the conversation I had with one particular CEO whose business had faced four straight years of decline . ‘ How do we get our mojo back ?’ my client asked with more than a hint of desperation . It had been a brutal few years . While his leadership team and I spent considerable time addressing this question and formulating a strategy for reviving the company ’ s fortunes , an equally important question should have centred on why and how they lost momentum in the first place .
In my work as a business strategist and consultant , there have been five common factors that have contributed to the stumble or demise of almost every iconic
58 ModernBusiness October 2016