Rethink Reinvent Reposition
12 Strategies to Renew Your Business and Boost Your Bottom Line
Leo Hopf and William Welter
Business renewal isn’t for the faint of heart, but when a mature business is facing margin and growth pressures, and business as usual no longer works, the choice is stark. Typically, the mature business or business line is cut loose, but decline and eventual failure isn’t the only option. The other choice to commit to renewing the business, to rewriting the business lifecycle story. Rethink Reinvent Reposition by Leo Hopf and William Welter is the guide on how to reenergize and redirect mature businesses, whether large or small.
Renewal is not the same as starting a brand new business with a pile of cash and a good idea. An existing business usually has a base of existing customers or a base of key assets that can be repurposed. Accordingly, Hopf and Welter have identified four distinct paths for proactive business renewal, each of which corresponds to a different combination of existing and new customers and assets. The four paths have different risk and reward characteristics, and each has its own requirements for success. In Rethink Reinvent Reposition, they discuss these paths and their implications and offer ways that business leaders can prepare for renewal and can determine which approach is the best match for their own maturing business.
The stories of companies that have followed a path to renewal—as well as the stories of companies that have failed in their renewal efforts—fill this useful, original, and provocative book. Renewing a business is a challenge—but in an era when the business life cycle keeps getting shorter, it is a necessary challenge for almost any business.
Read more about the book at Rethink, Reinvent, Reposition.