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 the courage of leadership that was willing to risk it all for a better future.
This amazing turnaround is a display of a classic case of a 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!