The Cost of Reinvention

You can’t reinvent without counting the cost. No smart person goes out into new territory without some kind of map. You have to know what you are doing and where you are going.

Leaders who don’t either count the cost or put funds aside to fuel their new ideas are blindly walking into a dark room, without a flashlight. It is one thing to make mistakes or missteps. We all do that. But it is completely foolish to impulsively launch an innovation or new directions without a “backup plan.”

When I went through a career change years ago I learned that you can’t make a drastic transition without some funds set aside, a steady income from my spouse or a basic knowledge of the territory I was venturing into. Without at least one of these in place, it would have been a disaster.

Value is the key to any reinvention. Where there is no perceived value on your part, or the people who want to buy into your ideas, there will be no support.

Wikipedia defines an IPO: “An initial public offering (IPO) or stock market launch, is the first sale of stock by a company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises. Many companies that undertake an IPO also request the assistance of an investment banking firm acting in the capacity of an underwriter to help them correctly assess the value of their shares, that is, the share price.”

What have you done to create value as an “IPO” with your support circle?

Where there is no value, there is no support. Support follows value (not the other way around). Support the cost by building value into your reinvention. No value; no new ideas.

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