Last week, at one of our Leadership Group* meetings, a member posed a question about a new service she was considering introducing.
Using our tried and tested diagnostic process, it became very clear that this new initiative would require:
- Significant capital
- Considerable executive time, in particular identifying and recruiting the right leader and team
- A high level of compliance due to the amount of regulatory issues
It was also identified that the likely return on investment from the new service would be low margin/no margin.
The idea was destined to be spiked, not even filed in “Not Doing Now” but in the “Never Doing Now” folder, it looked like a non-starter.
But the decision was taken to pursue it – and several others in that Group will be doing so as well.
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