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81. Whether a conformist can achieve lasting success or get rich in business
depends primarily on the type of business involved. Iconoclasts rise to the top in newer
industries and in those where consumer demand is in constant flux. Conformists
ultimately prevail, however, in traditional service industries ensconced in systems and
regulations.
In consumer-driven industries, innovation, product differentiation, and creativity
are crucial to lasting success, in the retail and media sectors, for example,
unconventional products and advertising are necessary to catch the attention of
consumers and to keep up with the vagaries of consumer tastes. Those who take an
iconoclastic approach tend to recognize emerging trends and to rise above their peers.
For example, Ted Turners departure from the traditional format of the other television
networks, and the responsiveness of Amazon.com to burgeoning Internet commerce,
propelled these two giants to leadership positions in their industries. And in technology,
where there are no conventional practices or ways of thinking to begin with, companies
that fail to break away from last years paradigm are soon left behind by the
competition.
However, in traditional service industries―such as finance, accounting, insurance,
legal services, and health care―lasting success and riches come not to nonconformists
but rather to those who can deliver services most effectively within the confines of
established practices, policies, and regulations. Of course, a clever idea for structuring a
deal, or a creative legal maneuver, may play a role in winning smaller; battles along the
way. But such tactics are those of conformists who are playing by the same ground rules
as their peers; winners are just better at the game.
In conclusion, while non-conformists tend to be the wildly successful players in
technology-driven and consumer-driven industries, traditionalists are the winners in
system-driven industries pervaded by policy, regulation, and bureaucracy.
81. Whether a conformist can achieve lasting success or get rich in business
depends primarily on the type of business involved. Iconoclasts rise to the top in newer
industries and in those where consumer demand is in constant flux. Conformists
ultimately prevail, however, in traditional service industries ensconced in systems and
regulations.
In consumer-driven industries, innovation, product differentiation, and creativity
are crucial to lasting success, in the retail and media sectors, for example,
unconventional products and advertising are necessary to catch the attention of
consumers and to keep up with the vagaries of consumer tastes. Those who take an
iconoclastic approach tend to recognize emerging trends and to rise above their peers.
For example, Ted Turners departure from the traditional format of the other television
networks, and the responsiveness of Amazon.com to burgeoning Internet commerce,
propelled these two giants to leadership positions in their industries. And in technology,
where there are no conventional practices or ways of thinking to begin with, companies
that fail to break away from last years paradigm are soon left behind by the
competition.
However, in traditional service industries―such as finance, accounting, insurance,
legal services, and health care―lasting success and riches come not to nonconformists
but rather to those who can deliver services most effectively within the confines of
established practices, policies, and regulations. Of course, a clever idea for structuring a
deal, or a creative legal maneuver, may play a role in winning smaller; battles along the
way. But such tactics are those of conformists who are playing by the same ground rules
as their peers; winners are just better at the game.
In conclusion, while non-conformists tend to be the wildly successful players in
technology-driven and consumer-driven industries, traditionalists are the winners in
system-driven industries pervaded by policy, regulation, and bureaucracy.
