The business environment today is clear: If you own a brand, it’s either growing or dying. The question I keep hearing is, “How do we grow our brand without cannibalizing our existing business?”
It’s a daunting question. More than 60 percent of innovation projects fail to produce bottom line growth. I have watched many brands use different approaches to try to achieve growth with various levels of success. And I have two truth bombs to share. First, vision and goals determine growth trajectory.
