Milking Strategy

How long can one live on past achievements? I guess it is an open question today? Businesses constantly need to reinvent themselves. No lest you take your eye off the prize and competition takes your place. It is ironic though how demonstrated successes can grease the tracks.

The noble prizes in the sciences are an interesting example of a milking. Breakthroughs achieved very early in the career are evaluated years later based on adoption to be considered worthy of recognition. It is impossible for one to be awarded and even nominated for the prize for recent work. The other interesting fact I have studied with regards to the noble prize is the fact that the work is fundamental but recognition is based on application and adoption.

An interesting thought! Years ago when I worked for a software company in their solutions and strategy group I noticed a phenomenon. The more I looked around, the more the milking strategy became apparent in corporate strategies, competitive strategies, customer strategies. We started with one enterprise level software we developed and sold, then we split the overall software into individual layers of the business and sold the same separately, then we sold the same as a new product by industry segments. The process continues with new bells and whistles added to the package.

Here is another one, think of detergents our moms used. Now my Whirlpool Duet has compartments for the pre wash detergent, the detergent, the bleach, the softener. Have our clothes suddenly changes so much that we need these individual products? How much can these combinations enhance the life and where is the diminishing marginal utility?

One can certainly live forever on past achievements, as long as one finds creative ways to positions and promote them.