In physics, escape velocity is the speed at which the kinetic energy plus the gravitational potential energy of an object is zero. It is the speed needed to “break free” from a gravitational field without further propulsion.
What does this have to do with business? Just like a rocket can be held in orbit by the gravitational pull of a planet, so companies can be held back from capitalizing on new opportunities by their legacy franchises. In both cases, more power is needed to break free
In Geoffrey Moore’s latest book Escape Velocity, he contends that companies must align what he calls the “hierarchy of powers” in order to obtain escape velocity and not fall by the wayside in the still-developing global economy. And what is this hierarchy of powers? Moore lists five areas of power that can be utilized to break free of the past.
- Category Power – growth born from category expansion.
- Company Power – growth born from competitive advantage.
- Market Power – growth born from customer consensus.
- Offer Power – growth born from unmatchable offers.
- Execution Power – growth from reaching tipping points.
If you sense that your company or organization is being held down by the forces of your past success, you’ll want to join Geoffrey Moore on February 23rd for our Soundview Live webinar How to Achieve Escape Velocity. Don’t be satisfied with the status quo.