“Stop talking about ‘ROI’ – return on investment. Start focusing on ‘ROR’ – return on reinvention!” – Futurist Jim Carroll
A new era of massive economic uncertainty has been layered on top of accelerating business model disruption. The result is that many CEOs and leaders are uncertain as to which investments to make, when to make them, and how to measure the success of what might result.
For a long time, ROI has been the metric by which to measure success. Yet in this new world, that might be a cause for great mis-focus – there is far too much uncertainty in terms of potential outcome.
That’s why the real innovation pioneers are charging ahead without the old measures of success and are basing their strategy on a new measure: if we need to be an entirely different organization with an entirely different skill set, product or service line and value proposition on the ‘other side’ of the pandemic, we might as well focus on our ability to successfully reinvent!
That’s what I’m doing. My path is uncertain, my success indeterminate, the end result unknown. But reinvent I must and reinvent I will. I don’t have a target in mind in terms of the number of successful virtual engagements – I do have a mindset that the clients who do book me are going to get the best virtual presentation in the world.
Every small win is a massive win; every new stage set is a wonderful new story of success; every client inquiry is a huge home run. My ROI isn’t based on the old metrics that drove me in my old world – it’s my new ROR that drives my enthusiasm. passion, and drive to make this thing work.
Do you have a similar mindset?