I’ve had the privilege of working with extremely nimble companies. Unlike the bureaucracy of corporate behemoths, we can launch a brand or bring a product to market at the forefront of an emerging trend. This race to be the first can be completely exhilarating. But amidst the crazy deadlines and adrenaline, it makes it harder to step back and focus on where the initiative fits within the big picture. No one wants to be the one to stop a wheel in motion.
If you don’t know where you are going, you will probably end up somewhere else
– Lawrence J Peter
But it’s critical to take the time to determine the specific objectives and goals of a new initiative. What do we want it to do for the business? How does it align with the larger corporate strategy? What are the KPIs (key performance indicators)?
While there is something to be said for just going with your gut, take the time to think strategically and determine if the idea will ultimately get you closer to your strategic objectives. If not, you might take your brand down a path that does more harm than good to your equity over the long term.