The term “self-cannibalization” appears when a company launches a new product line, competing with one of its own. It is mostly a classic strategic move, implying that said company is phasing out some products to update their offer. In some cases, like in the fashion industry and their seasonal cycles, this is theorized as a core value for the customers. (I will let you discuss the merits of slow fashion at this point.)
Today, Bose announced they’d be closing all of their stores in North America, Europe, Japan and Australia. In their original 1993 thinking, the idea for such a chain of international retail stores seemed clear enough:
“Originally, our retail stores gave people a way to experience, test, and talk to us about multi-component, CD and DVD-based home entertainment systems. At the time, it was a radical idea, but we focused on what our customers needed, and where they needed it – and we’re doing the same thing now.”Colette Burke, vice president of Global Sales, Bose Corp., Jan. 2020
If you follow me, you know I was in Lyon (France) last month to be the master of ceremony at BlendWebMix. During two days, the idea of “Tech for Good” was discussed and debated by tech people, designers and businesses.
With the strategic help of the organizing team I managed to escape the main venue for about 40 min At the end of the second day, to give my hot take on what has been discussed.
The result is this video.
I end up talking a lot about digital sovereignty in Europe, because I believe it will be the HOT topic for 2020.
And yes, it’s in French (I had no choice, sorry about that ^_^).
Sébastien MEUNIER from France 3 TV, asked to me to do a quick interview at #BlendWebMix a few days ago. He asked me what was an “innovation strategist”, how I was making money and a few other things about my job! He then snapped skillfully together an interesting montage. And yeah, it’s in French (^_^’)
I’ve read too many startup post-mortems lately. “If only we would have done X instead of Y and Z we would have wasted less time and money and maybe survived”. And yet, all these late epiphanies are just rediscovering what is explained over and over in the ecosystem. What goes wrong? Why doesn’t it stick? After discussing online with many of you, I’ve tried to get to the core of how to run a startup as a quick and dirty guide for first-timers.
As to be perfectly clear this “guide” only concerns early stage startups. Early stage means from pre-launch to 12 months post-launch. And startup means you intend to innovate (more on this afterward) AND you expect to get in exponential growth (widely forgotten in Europe).
In this exercise, I tried to distill everything that really matters into 5 core principles. These are the ones that I honestly believe anyone with a significative experience with startups, and no vested interested in selling whatever they do, will tell you.