Momentum Effect, The (paperback): How to Ignite Exceptional Growth Review

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Momentum Effect, The (paperback): How to Ignite Exceptional Growth ReviewAs good as (maybe even better than) Blue Ocean StrategyIt is worth reading this book and Kim and Mauborgne's Blue Ocean Strategy together (the authors of both books all teach at the same school and Kim and Mauborgne have endorsed The Momentum Effect, calling it a "must read"). Personally I think The Momentum Effect is even better than BOS.
The strategy canvas in BOS is a fantastic tool and I've used it a lot but I've always had three nagging questions about the blue ocean book. First, blue oceans sound great, but if I'm stuck in a red ocean is it really true that my only hope is to find a big innovation to sail into a blue ocean? Second, if you do manage it, how do you stop your blue ocean turning red. Third, what are the fundamental mechanics and processes that underlie the creation of uncontested market space. These are three things that Larreche's book is brilliant on.
First, he points out that even in red oceans (I don't think he uses that term - he talks about "old established firms" in highly competitive markets) it is possible to generate growth through a series of small cumulative improvements rather than trying all out for a "big bang". He has an amazing graph on page 214 showing cumulative impact of a series of 1% improvements in key performance criteria. As an aside, this graph is an example of one of the differences in this book - Larreche's background was in developing marketing simulation software (eg Markstrat which I used doing my MBA) - the simulations are used sparingly but they add depth.
Second, he explicitly states that he is not offering a once through process - if you want to stay on top you have to keep working, keep improving. Lots of books "say" this but few really take it to its logical conclusion, preferring to offer a cosy "destination point" as if beating your targets this year gives you an out for not doing it next year. In the real world reaching one goal is just the jumping off point for trying to hit the next one. Larreche's process shows how constant iteration can be built into your business and how it becomes a source of strength - "momentum" comes from the feedback effect of taking each small success and building on it to make an even bigger one and so on.
But for me the real strength of the book is in the way it answers my third point. In Part II, it devotes about 80 pages to the process of designing what he calls "power offers". Part III has the same sort of space devoted to the practicalities of actually executing the strategy. This is one of the first strategy books I've read that manages to balance the grand design with the practical implementation.
In short, if you liked Blue Ocean Strategy, you'll love this - if you've always had doubts about BOS - this book might answer them.
Momentum Effect, The (paperback): How to Ignite Exceptional Growth OverviewA few rare companies have discovered the secret to sustained high growth: momentum. They've learned how to create the conditions that lead to exceptional organic growth—which feeds on itself, continually accelerating the business forward. In The Momentum Effect, J.C. Larreche introduces a complete framework for gaining momentum, keeping it, and harnessing its power. Drawing on new research and powerful case studies, Larreche demonstrates the stunning role of momentum in value creation. He sets out the process for developing the "power offers" that lie at the heart of this powerful force. This book offers a systematic process for creating momentum that will work in any business, in any industry, and under any market conditions. You'll learn how to create new value through a momentum strategy and build the leadership competencies to deliver highly profitable growth over the next six months…five years…even decades.•Pioneer or die: drive momentum and harness its stunning powerHow momentum-powered firms create 80% more shareholder value•Understand the drivers of momentum strategyCraft power offers, mobilize for growth, and more•Master the Momentum Process: design and executionEight specific steps to implement a long-term winning momentum strategy•Climb the five-step Momentum Leadership Ladder How leaders can systematically generate and direct momentum"This book shows you how to build momentum for growth and leave your competitors trailing far in your wake!"–Sir Richard Branson"J.C. Larreche's book, The Momentum Effect, is a must-read. It highlights why more marketing spend and further value extraction are not the key determinants for future growth. To create powerful momentum for exceptional growth, it is essential to offer innovative value to the marketplace. The Momentum Effect outlines just how to achieve this. The results are illuminating.—W. Chan Kim & Renée Mauborgne, Authors of Blue Ocean Strategy"How can companies achieve exceptional and sustained growth? The Momentum Effect explores this challenge and reveals successful strategies for originating new sources of growth and value from customers with the power to unlock great potential."—Dr. Daniel Vasella, Chairman & CEO, Novartis AG, Basel/Switzerland

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