Organizations that want to respond to market changes should start by acknowledging the strengths of their existing culture, then think past next quarter, said Lean Startup’s Eric Ries.
Executives often claim that market pressures force them to adopt short-term approaches to profit and company growth. But at Signal 2018, best-selling author of The Lean Startup, Eric Ries pointed out that marketplace facts don’t bear out that business mythology. Adopting a philosophy of long term thinking turns out to be far more effective than is a quarter-by-quarter management mindset.
By the time he spoke with Signal host John Battelle in 2018, Ries had begun to turn that philosophy into a company: The Long-Term Stock Exchange. Since then, his new company has been approved as a national securities exchange by the SEC and raised $50 million in new financing. “Its goal is to reshape the incentives for the next generation of public companies so that they can focus on the long term,” wrote Vox.
You don’t need to be launching a new firm to get a plenty of “Aha!” moments from this discussion. Revisit Ries’ vision in this 20-minute video interview – it’s well worth the time.