If you're glorying in your market share, stop. The Myth of Market Share by Richard Miniter calls share 'fool's gold'. He cites 1997 research by Windermere Associates: for more than 70% of the time, firms with top share didn't have the highest returns. Should you shift your aim to customer loyalty? Alas for another myth: there's little correlation between loyalty and profitability. What's the solution? Concentrate on keeping customers whose business is profitable. If that sounds so simple as to be trite, do you really know which customers or clusters of customers make a contribution and, if so, how much? Don Peppers and Martha Rogers, customer loyalty gurus, find all too many 'below zeros' with 'negative lifetime value'. Throw out the BZ customers and myths stop being mythical.
Faisal Butt seeks some perspective in contemplation, patience and fasting.
Brexit is an opportunity for regulators to enable innovation while protecting wider society, says PA Consulting's Conrad Thompson.
The generations have much to learn from each other, says veteran hospitality entrepreneur turned Airbnb advisor Chip Conley.
The best ideas rarely come from behind a door marked 'Innovation Department'.
The search for new products, new routes to market and new business models can't stop at your front gate, says AAR's Robin Charney.
The tech boss has already done the hard work of letting go, says Simon Hayward.