What’s the difference between the chicken and the egg?

What’s the difference between the chicken and the egg? The chicken is a lot more work to eat — feathers and such — but offers a lot more opportunity for a good meal.

Which came first? It really doesn’t matter, although first-mover advantage is a great thing to have. But, how much risk the chicken faced crossing the road is a pretty big deal, and stops many from choosing the chicken. So, whether you pick the chicken or the egg, you face some pretty tough decisions.

This is a simplistic way to think about opportunities and rewards, market choices and risk. However, meeting change head-on, making tough choices and assuming risk seems to be the only constant among today’s most successful businesses.

Risk aversion is part of human nature. There is comfort in knowing your surroundings, knowing what is safe, and knowing what works and what doesn’t. Unfortunately, businesses today trying to play by yesterday’s rules are in a difficult position.

All is not lost — many companies have developed ways to cope with today’s environment, and the most successful have figured out their identity is tied to serving their customers.

Shifting to a focus on what customers want instead of on what a company is comfortable making is a good first step toward adapting to today’s marketplace. Second, fostering an accountable entrepreneurial environment seems to be a must. Third, investing in the pursuit of markets, wherever they are, is a strategy full of uncertainty, but often presents the opportunities with the highest rewards. And, finally, marketing, marketing, marketing — it builds brands, protects all the effort that has gone before and leads to new opportunities.