The Need-Want Gap: What Companies or Industries Need, They May Not Want
Those on the outside might see things that companies or industries need to improve and innovate. Those on the inside may not know they need these things. If they do, they may not want them.
That’s what I call the “need-want gap.”
A great example of this is portrayed in the book and movie Moneyball.
Because the Oakland Athletics couldn’t compete with other big-budget baseball teams for top players, general manager Billy Beane had to change the way players were scouted for the team to be competitive.
So Beane eschewed “gut feel” when scouting players and looked past traditional statistics like batting average, runs batted in, and stolen bases.
Instead, Beane focused more on advanced metrics such as on-base percentage and slugging percentage to scout and recruit players and find diamonds in the rough. He realized that these statistics were more important to winning than the traditional stats, which were more about vanity.
This analytics-based methodology, called Sabermetrics, was absolutely scrutinized, and Beane was chastised by old-school scouts and managers.
This approach is still criticized to this day, even though the Athletics have been competitive with a tiny payroll for many years, and the Boston Red Sox won a World Series shortly after implementing the system.
Many middling teams knew they needed something stay competitive, but they didn’t want this kind of solution.
The need-want gap.
This happens many other industries as well.
Large businesses that have been around for many decades plod along with their traditional products and business models while startups disrupt them. Many deny the fact that they are being disrupted. Case in point here and here.
Ambitious job seekers may see that these companies need fresh thinking and innovation, but those jobs just aren’t available because these companies are satisfied with their position and don’t want to change.
The need-want gap.
Politics and government. Energy. Construction. Media. Music. All of these traditional industries have been slow to develop new business models as technology impacts them immensely.
If you’re seeking a career where you want to make change in these old-school industries, you might find that your services and ideas aren’t welcome.
But if you’re persistent and have a vision for the change you want to enact, keep going. Companies in these industries will come around when they have to.
If you can convince them that change is good and necessary, you can shrink that need-want gap and make your mark.
I hope you found this interesting! If so, please recommend this article by clicking that little heart below. Then sign up for my email list at mikewchan.com and connect with me on Twitter for future updates. And check out my podcast at GoandGrowPodcast.com!
This is day 37 of my experiment to blog for 30 consecutive days.
Photo courtesy of Wikimedia Commons