The Power of Breakthroughs in Your Business

The Power of Breakthroughs in Your Business

“By the time you read this story, the quirky cult company…will end its wild ride as an independent enterprise.” 

This was how Fortune, a major publication, predicted how Apple will fall in 1996. Every entrepreneur experiences days where the future seems bleak and impossible. It takes one thing to find success, we call it Pig Headed Discipline and determination.

Fast forward to the year 2018 and Apple was the first company to be the first trillion-dollar company!

Just like any other brands, they experienced being on the edge of bankruptcy too. 

With thousands of companies emerging each year, how do some companies stay successful? Have you ever had friends, staff, clients tell you your business wouldn’t make it? Has it ever been plastered on the news on the cover of Fortune magazine? Despite hundreds of predictions that they will fail, how did Apple manage to increase revenue by 15,000% and innovate the most popular devices that shaped our existence? They managed to have the Pig headed discipline to continue and make a breakthrough.

 Another company that experienced a breakthrough is Nintendo – a Japanese multinational company. While Nintendo has always been a successful company even during the 90s, there was a time in 2012 where their sales declined.

It was during the release of Wii U – a gaming console that failed because of poor marketing, inability to highlight unique features, and struggles with third party support. This caused a drop in revenue of 75% from their peak in 2009 to just shy of ten years later in 2017. Can you imagine having to sustain a company that just had to lay off and cut expenses for 14 Billion dollars worth of lost revenue? Five years after the failure of Wii U, Nintendo released Switch – a hybrid console that has sold more than 52 million units in just over three years and is currently sold out! Rebounding their sales significantly and becoming one of the top gaming systems on the market yet again.

What is Nintendo’s success strategy and how did a product they discontinued successfully paved the way for another? 

Was it all because of luck? Or maybe, a genius like Steve Jobs is needed? A revolutionary invention, perhaps? If not, is it even possible to have your very own business breakthrough, and how?

The answer is that it varies from one company to another. Apple’s strategies aren’t exactly the same as Nintendo’s just like how theirs are different from yours. A general recipe for breakthroughs doesn’t exist – you just have to create your own.

 

 A breakthrough can be defined as achieving success after overcoming something, and while it’s different for every brand, we will give you an idea of what the process normally looks like.

In a Forbes article, Patrick Gentempo shared how he studied how these breakthroughs can be consistently reproduced, and the results are what he referred to as “The Anatomy of Breakthrough”.

  1. Intention
  2. Peel off the layers of the known
  3. Outside inspiration

While this anatomy can be interpreted in several ways, we’ll briefly explain it in a way that can help you generate more sales and achieve your brand’s success.

Just like any process, you must first analyze what your objectives are. What are your plans like? Do you just want to advertise your brand more effectively? Or, do you prefer letting prospects be more informed of your product’s features? Whatever it may be, you have to clearly specify your goals. In order to successfully achieve your target, you first have to set one, right?

After knowing what you want, you can then peel off their layers one by one. If your objective is to reach other prospects, what’s stopping you from doing so? If your product isn’t selling well, is there a problem with marketing or are there inconsistent strategies? You have to reach and define the core reason why some things aren’t working very well.

The last step – outside inspiration – is the most important as it can be used all throughout the process. Often, we find it very hard to identify the problem and that’s probably because we always think from our point of view. 

There may be some instances where you analyze what’s lacking and you just can’t seem to find one. But if this is really the case, then why is your business still the same?

While you know what’s best for your brand, it’s always worth asking for expert advice from others. Their beliefs, principles, experiences – their whole perspective is far different from yours. Existing problems you failed to recognize for the past few years may easily be spotted by another! 

Whether you own a start-up business or a known brand, it’s no doubt that we all want to have our own breakthroughs! However, it’s inevitable that we get stuck at some point – as if we have no idea what to do next. When this happens, you can take a moment to reflect, consider the situation carefully, or consult with experts so you can have several choices on how to proceed. And who knows? Your business breakthrough might start with a single enlightenment or inspiration from those with a different perspective than yours. 

 To have your own 7-minute breakthrough session with a CHI certified growth specialist, click here to find out how you can elevate your business.