When you are constantly trying to please the stakeholders, innovative companies turn into operational companies. The board members want to appear more successful, and investors (understandably so) want their money to multiply. Budgets are reduced, needed investments aren’t made, and short-term results are prioritized over long-term benefits.
And the race to the bottom is on!
Here’s how to win the race to the bottom: 1) try to please everyone at the same time and 2) let others (i.e. your customers) dictate your standards.
It’s mediocrity by committee and death by mediocrity.