Last month, the Harvard Business Review published an article by Robert C. Wolcott titled “Does Your Business Look to the Future or Just Defend the Present?”
We found the piece to be thought-provoking and wanted to share how the phenomenon of “staying ahead of the curve” is happening in our local economy related to hardware startups.
In sum, the article suggests that businesses need Transitional Business strategies in order to respond, identify, and manage profitability in increasingly volatile economic markets. In many industries, businesses are succeeding by keeping up with ever-changing technology and by staying slightly ahead of the curve. In order to do this, Transitional Business Platforms have developed as an intermediate strategy to help businesses focus on customers’ ever-changing wants and needs. These strategies are keeping businesses profitable by being responsive and dynamic. By using transitional business platforms, businesses can lead the market instead of following market trends.
The City of Fremont has witnessed innovative companies using transitional business platforms to build a customer base while scaling the original concept. Here are two great examples of technology “pivots”:
Enovix, founded in 2007, is in the pilot production of its 3D Silicon Lithium-ion Rechargeable Battery to power mobile products more effectively. Enovix is using a photolithographic and wafer process, similar to that used for producing solar cells. The Enovix platform fully utilizes advancements in reliable, high-volume, low-cost wafer production to transform battery performance just as ICs have for computing, LEDs for lighting and flat-panel LCDs for video displays.
Oorja Fuel Cells uses methanol as a primary energy source because it is sustainable and ubiquitously found. For their original market, the forklift industry, the product serves as a ‘range extender’ for heavily used equipment in material handling. But over time, Oorja has adapted the technology to the telecommunications industry. Working with companies in developing countries, Oorja now manufactures their economical methanol fuel cells in Fremont and exports their product overseas. As the technology matures, Oorja can use its experience to grow the domestic demand for their products.
These innovative companies are using transitional business models to stay competitive in the ever-changing business climate by understanding what’s next in their industry and what customers want now and in the future. They are staying a step ahead of the curve.
This post first appeared on Start, Expand, Grow, Relocate Business In Silicon Valley - Fremont, California, please read the originial post: here