• Doug Ringer

Stability Leads to Instability

The economist Hyman Minksy, a student of Austrian economist Josef Schumpeter and inventor of the solution of 'creative destruction,' described what happens in societies with his famous dictum 'stability leads to instability.'

I've seen this happen to individual product lines and to entire product companies. Their successes, mostly from the instability created by their insurrections in their markets, lead to them seek stability and predictability as they grew and matured. However, their success, as it turns out, lead to their failure.

Product leaders, as with societies, must continue to seek or create instabilities in order for their businesses to remain healthy and growing. Seeking the safe, stable route opens the door for the 'creative destruction' of your business.

Instead of looking for your Covid-19 inspired 'back to normal', I recommend you create and exploit the next instability in your industry.

Not sure how? Give me a call.

Click Here to download the free eBook "8 Ways to Maximize Small Business Value."

3 views0 comments

Recent Posts

See All

Re-acquiring Your Target Market

In 2019, your business was great and getting better. Long-time customers had renewed contracts with you and your referral program was creating double-digit growth in your new accounts. Then came 2020