…and 5 minutes to ruin it.
This quote from Warren Buffet hit home for me last week. I’m only 10 years in and well aware of how much more work there is to do, but one false move and I could quickly destroy what I’ve built so far.
More organisations should take that advice. Laura Ashley, the textile design company has destroyed its 67 year old reputation today by reporting that it has run out of money
Change has to be a fundamental part of business strategy and the ability to grow, sometimes shrink and take on new growth opportunities is the new normal.
Look at fashion retailer Zara, the world’s largest apparel seller, gets new styles to market in 2-4 weeks. To do so, it uses a cross-functional, integrated organisation to accelerate decision-making and eliminate delays in functional handoffs. Design, procurement, manufacturing, and delivery are all organised into teams that work closely with store managers to quicken responsiveness to shifting market trends.
Be more Zara!
Thank you for reading,