With Innovation as your focus... Revenues followThis is a key success principle for us all on the micro and macro-economic sides of life. Individuals / families can only cut so much form their budgets. I am assuming they are lean, frugal machines...in that they are not spending more than what they make, etc. In challenging times, families will go without holidays and new clothes, wait a while longer between haircuts. This is all on the expense side of the Income Statement. It is not much fun to live this way over the long-term...but we get by hoping for a brighter day. On the macro level...big business and governments, cut management and the labour force, halt new hires and new initiatives are shelved.
All the world needs is for us all to be accountants. It takes little to no creativity to cut from budgets.
(Again, I am assuming in a perfect world that they are lean fighting machines...bear with me for a little longer.)
Thankfully Our Father, did not make us all robots and accountants...he gave us freedom...and with it responsibilty...and its fruit is innovation. REVENUE is the key to success. Instead of cutting costs all the time... spend time figuring out new products for new and current customers.
Families, small business, big business and big government need to consider new revenues to lead them into success. Doing what everybody else is doing is not very creative and certainly "sucks life" from everyone. Agree to spend as much time on the Revenue side of the income statement as you do the Expense side.
As yourself the innovation question; "What would you do if your core business disappeared overnight?"
"Innovation distinguishes between a leaders and a follower."