innovate and know your competition?
Launch a competitor within your own company. Yes, internally.
Why? If you don’t do it, someone else will.
How? Get a team of five (5) people from various areas. For ex. someone from Accounting, Legal, Sales, Marketing, Customer Service and/or Business Development.
What? Assemble the team, have them list weakness and problems the company has, and for them to provide solutions and launch a company that is stronger.
Result: You are taking people who know your company, realize it’s problems/weaknesses and see the opportunities. Do you realize this might save your company, and you may own the market by owning both companies?
Did you know people quit their day job and do this on their own?
Recommend: Form a new entity such as an LLC, owned by your parent company, launch a competitor, create an operating agreement and grant the founding team a small stake before they go out and do it on their own time and dime and come after your customers