I heard an awesome speaker on Tuesday – Clayton Christensen of Harvard Business School (see: www.claytonchristensen.com).  Clayton is the author of several books (Disrupting Class, Innovator’s Dilemma, etc.).  Clayton described a very interesting lens through which we can look at and address business problems.  He challenged us to consider just how small, startup type companies can ultimately eat the lunch of more established and “up market” firms. 

For example, it would be easy for an experienced and time-tested Web development firm such as BitWise to rest on its laurels, leveraging our experience and reputation in the marketplace and continually service the crème-de-la-crème clients.  We are blessed, multifold, by having a large stable of really terrific companies and wonderful people with whom we work on a daily basis in our client’s firms.  Please, don’t take me wrong, we are VERY grateful and thankful for our loyal and trusting clients… but we must never consider ourselves cemented into those relationships.  Those relationships must be nurtured and earned daily. 

Clayton’s perspective is that many firms grow to a comfortable level, continue to make money year after year serving the increasingly larger customers.  In doing so, they begin to walk away from the smaller, lower margin opportunities to do business with new customers because of, perhaps, greater profitability.  Nothing wrong with this approach, right?  In a real-world analogy, most adults find it inconceivable to bend down and pick up a dime, nickel or penny.  But would you stoop to pick up a quarter?  Businesses need to be cautious as to think that picking up the pennies and nickels is simply beneath them to do so.  I submit, as does Mr. Christensen, with such a mindset comes hubris, arrogance, and ultimately failure.  Do you know companies who fit this profile? 

So, as I write this blog post, a select group of thought leaders within our firm is meeting to craft strategies which will enable us to be mindful of those nickels and dimes.  In Clayton’s model, firms who cease being mindful of those nickels and dimes are soon eaten by those firms who will do whatever it takes to pick them up.  BitWise is mindful of the propensity to “be comfortable in our up-market saddle” as a seasoned firm, but make no mistake, we are equally determined to not drink so much of our own Kool-Aid and forget how to successfully take on those smaller engagements.   

I am thankful for the fine group of folks on our staff who are continually seeking to ensure we remain nimble as a firm.  In doing so, they are helping us to continue to be the best business partner possible for our clients.  Leaving such intricate and forward-thinking work to just one or two individuals within a firm is asking to be blind-sided.  Does your business have a strategy and an executable model to pick up the dimes or are you simply trolling looking for a lost silver dollar?