This time, by analyzing business tips that Mr. Inamori shared with us, I highlighted a sort of checklist for business leaders in declining industry to transform their busines into other directions.
1 Are you looking for an excuse for not to do, instead of how to do?
2 Have you already given up before even simulating?
3 Who do you want to fulfill by doing that? Just for yourself?
4 Have you considered why the trend remains trendy?
5 Have you had a doubt about so-called common sense?
6 Are you doing a business with a passionate staff?
4 Have you considered why the trend remains trendy?
I would like to quote the words of the former president of the Bank of Kyoto.
” There is a proverb, ‘A crow that imitates a cormorant, drowning in water.’ The cormorant and the crow are the same black birds, but the cormorant can catch fish in the water, but the crow can’t, and he gets drowned when he tries to catch a fish. ”
So many companies simply try to follow the trend, setting up a new team, and tap the market. Some can survive and succeed but most of them withdraw their business. Before getting into the competition, we should carefully analyze and monitor what made them winners. Why customers have chosen them.
5 Have you had a doubt about so-called common sense?
Mr. Inamori gave advice to a certain president in Seiwajuku workshop.
“It’s worth noting that you got discouraged from new investment: uniting the factories.
When advising another president who had a similar case in your company, “It may be a little inconvenient, but it is better to think about rationalization as it is,” You refrained from making new investments. Having a new one building will reduce labor and transportation costs, and it certainly looks like improving the financial statement. However, it costs a considerable amount of capital investment. There is also depreciation, and if you borrow and make a capital investment, you will also pay interests. It superficially looks reasonable and good, but if you look closely it’s not good at all. Even if it is inconvenient in the practical factory, it is important to consider how to overcome the inconvenience and manage the business at a low cost, and to be creative. You will end up spending all the money you accumulated as retained earnings, so the decision of not to invest is right and correct.
We must doubt what we believe as common sense. We have to simulate many times and ask ourselves before implementing a new business direction.
6 Are you doing a business with a passionate staff?
Mr. Inamori talked about when he entered the United States and started selling fine ceramics.
“If you want to hire someone who understands the product well and knows the industry well, you can’t hire anyone because of the high salary. That’s why we hired inexperienced people ,rented a car, and explored the market. “Mr. Inamori, if you want to sell this so eagarly, I’ll do my best,” some staff said and shared my desire and wish. Such people followed. There are several salespersons who worked hard even when no one was supervising them, and they did their best to research the market. From that point, Kyocera suddenly started to grow …. I have no choice but to hire passionate staff. The best people and those with a career will get a higher salary. I think even an amateur we could hire as long as he was passionate. ”
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Mr. Inamori and scientists mention the idea of “group consciousness.” As a group, we share feelings or trends as we are linked under our unconscious mind.
I think people will be more aware of human’s emotion. People would pay more attention to our demands, needs, and where the market is heading to. Not only sensitive people but also others can feel to some extent that trend, based on the “group consciousness”. So, if you talk about its future, you may be able to convey your thoughts and work hard even if you don’t have the knowledge or experience.
However, this may not work when it comes to the declining industry.
People’s consciousness is also far from that.
Therefore, it becomes a shrinking industry.
If you want to remain in the sunset industry, I think it is desirable for you to think about changing the business format at an early stage.
To sum up, the checklist of where or not you are ready to transform your business to survive under pandemic is as follows.
1 Are you looking for the excuse for not to do, instead of how to do?
2 Have you already given up before even simulating?
3 To whom do you want to fulfill by doing that? Just for yourself?
4 Have you considered why the trend remains trendy?
5 Have you had doubts for so-called common sense?
6 Are you doing a business with a passionate staff?
Among them, the number one,” Are you really want to transform or not” is the most important. As this links to our mindset and subliminal mind, which governs our actions and indicates the business direction.
Further queries or doubts, please email to ytomizuka@abrilsjp.com
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- declining, entreprenure, industry
