Microsoft will Ditch its Own Tech in Favor of Rival Google — Here’s What it Means to Your Business

If you haven’t heard this news, that’s okay. It’s really a niche story but it does make a very important point. Here’s the short version. Microsoft tried to create its own web browser to replace Internet Explorer. It’s known as “Edge.” And, the code behind it has proven too troublesome. So, the software giant will build a new web browser-based on the technology Google uses to power Chrome.

What it Really Means to Reinvent the Wheel

Let’s get to the real meat of this cliché. Like many other adages, it’s a truism. The reason people say it is precisely because it is an unavoidable fact. It makes a very blunt point. That is, the wheel already serves a purpose and there’s no need to try to come up with something better because it works so well.

The general public typically has a distorted view of entrepreneurship. They think of visionary leaders who created something no one had ever seen before and became household names in the process. While it’s true that some figures have achieved this level of notoriety, the reality for 99 percent of entrepreneurs is very different. Their success is based not on creating an earth-shattering new product from scratch, but on learning what their customers want, making user-centric adjustments to existing products or services and providing it for them.
—Inc.com

We’ve all heard the saying more than one time. But, it still alludes business leaders who believe they can do “it” better, whatever “it” might well be. Call it hubris or stubbornness, it can get the best of the best.

How Entrepreneurs can Avoid the Reinventing the Wheel Trap

So, how does one avoid the temptation to reinvent the wheel in business? It’s not simple because the urge is so very strong to come up with the next big thing. Here are three ways to avoid the reinventing the wheel trap:

  • Take a step back. If you feel the compunction to try to reinvent the wheel, take a step back look at the big picture. Take a deep breath and think about how to incorporate what you need that already exists instead of trying to come up with something new.
  • Ask for team member input. Okay, here’s another cliché, “two heads are better than one.” And, it’s also a truism. Getting different perspectives and points of view can really work wonders.
  • Apply your existing resources. You might already have the tools on-hand to accomplish what’s needed. Put those to good use rather than putting a lot of extra time and effort into something which might not pay off.

How do you avoid the urge to reinvent the wheel? What practices work best? Which steps can other entrepreneurs take to avoid this mistake? Please, comment and give us your experiences!

Interested in learning more about business? Then just visit Waters Business Consulting Group.

Like this article?

Share on Facebook
Share on Twitter
Share on Linkdin
Share on Pinterest

Related Posts

An image of terrain landscape.

How Pleasant Places Turned Rapid Growth Into 42% Gross Margins

Founded in 1984, Pleasant Places built a reputation as a trusted commercial landscaping provider throughout the Lowcountry region. But rapid growth brings its own problems, and by the time company leadership reached out to Waters Business Consulting Group in 2017, Pleasant Places had grown from $10 million to nearly $18 million in annual revenue in just a few years — without the processes and infrastructure to support it. “I have been working with John Waters for around 8 years,” said Gilly Artigues, President of Pleasant Places. “I did a quick google search for a consultant that could help me and my company navigate through the obstacles we were facing during a period of rapid growth… John Waters called me in less than 2 hours. We spoke on the phone for well over an hour that day. After that, John didn’t rush into trying to get me to sign a contract or pay a fee. Instead, he took the challenges I told him about on our initial phone call and called me back a few days later with an honest take on everything and some ways he thought he could help. He impressed me with not only his knowledge and business experience, but with his genuine desire for my company to be successful.” Growing Fast, But Not Cleanly That kind of growth squeezed Pleasant Places’ profit margins and exposed gaps the company hadn’t needed to worry about at a smaller scale. There was no centralized ERP system to manage workflow, and accountability among the team was inconsistent. Pipeline visibility was murky, making projected growth hard to plan around, and a high cost of capital was eating into cash flow. The company’s mission, vision, and core values weren’t clearly articulated or aligned with ownership, and roles and responsibilities across the team were disorganized — all classic growing pains for a family-owned business scaling past what its original structure was built for. Rebuilding the Business Underneath the Growth Waters Business Consulting Group started by analyzing Pleasant Places’ historical financial trends to build a model for controlling cost of goods sold, margins, and managing breakeven. The company now has significantly higher valuation. That model did double duty — it also gave lending sources the assurance they needed, which led to negotiated reductions in lending fees. From there, the team established systems to track labor hours and materials against budgeted estimates, and reworked the company’s pricing strategy so every estimate was built to hit the gross margins Pleasant Places actually needed. On the people side, the team identified leadership and management gaps in the organizational structure, created position descriptions aligned with a clearer reporting protocol, and helped guide a sensitive transfer of management responsibility from father to son with defined authority and autonomy. A full ERP system implementation — the industry platform Aspire — gave Pleasant Places real-time visibility into work in progress and trending margins for the first time. From $18 Million to Over $36 Million, With Healthier Margins The combination of pricing discipline, cost controls, and regular accountability meetings turned a low gross margin into an average of 42%. With clearer estimates and more confidence in their numbers, Pleasant Places has pursued new projects and maintenance contracts with far more conviction, growing top-line revenue to over $36 million. Beyond the numbers, the organization now has a clearly defined chart of roles and responsibilities, formalized core values and mission, and a stronger employee review process — all of which have improved accountability, culture, and retention. Employee polling reflects that shift directly: workers now see themselves at the company for years to come. The family management transition was completed successfully, lending relationships improved, and net operating income has shown dramatic improvement across the engagement. Growing Fast? Make Sure Your Systems Keep Up Rapid growth is a good problem to have, but only if the business underneath it can support it. If your company’s growth has outpaced its processes, pricing, or leadership structure, a free consultation can help map out the fix. Contact Waters Business Consulting Group to schedule your free consultatio

Read More »
New Year illustration

Effective New Year Employee Retention Strategies Businesses can Use

Every January, some business owners get blindsided by a wave of resignations they never saw coming. The truth is, employees usually leave for a handful of very predictable reasons—and most of them are entirely within your control to fix. Here’s what’s really driving turnover at the start of the year, and how you can get ahead of it.

Read More »
Waters Business Consulting graphic

Yes, Loyal Customers Will Lie to Protect Your Feelings

Small business owners often operate under a set of assumptions. For the most part, these beliefs are typically correct, but not always. Even when something seems positive, it might well be obscuring a negative. What makes this particularly disturbing is the fact that the concealment can easily go unnoticed until it’s too late. For instance, repeat customers. Although the relationship may appear strong, there just might be a few things stewing under the surface that those loyal customers simply don’t share. So, how do you get that information without being overbearing? Well, there are subtle ways to obtain important intel.

Read More »

Imagine Selling Your Business…

How Would Your Life Change?

You didn’t start your business just to stay busy—you built it to create freedom, security, and options for yourself and your family. Selling your business can be life-changing, but the real question is whether you’re intentionally building toward that outcome or simply leaving it to chance.

Sign up below for a free consultative session to learn what your business could be worth today and in the future! 

Thank you for your interest in learning what your business is worth. We will be in touch shortly.