Let’s just cut to the chase – The road to insolvency is paved with companies that chose not to innovate or did so too slowly. Innovation is the life’s blood of any company, but this is particularly true of technology companies. But innovation doesn’t end after an “aha moment” that gets your company started. It’s as important for a mature company as a startup. Titans of technology like Jeff Bezos and Larry Page often speak to this very circumstance.
Jeff Bezos, founder, chairman, and CEO of Amazon.com,
“What really matters is, companies that don’t continue to experiment, companies that don’t embrace failure, they eventually get in a desperate position where the only thing they can do is a Hail Mary bet at the very end of their corporate existence,”
Larry Page, co-founder of Google and currently CEO of Google’s parent company, Alphabet Inc.
“Many companies get comfortable doing what they have always done, with a few incremental changes. This kind of incrementalism leads to irrelevance over time, especially in technology, because change tends to be revolutionary, not evolutionary.”