Monetization Playbook #38—Churn: The Red Queen

If you're standing still—you're effectively moving backwards.

Growing up in a world of big four accountancy and consulting, I can admit to receiving a tongue lashing or two in my criticism of the word 'best practice.'

Best practice!

What does that even mean?

Who determines what's best?

And if it is the best, then indeed, everyone's already following it and therefore cuddling around the mean.

Of course, the consultancy incentives align to proffering such invites to the best practice ‘party.'

But is it worth getting all dressed up in the first place?  

The Red Queen effect is a metaphor used in the business world to describe a company's unsuccessful efforts to get ahead of its competition.

While this technique works in theory, companies might not achieve their goals because the competition engages in the same business practice [wiki]

—The ‘Alice’ [through the looking glass] red queen paradox of constantly running, but ending up in the same spot is the game many firms are forced to play.

So what's the alternative?

First-principles.

What's best for your shareholders, your customers, and your employees.

Not what works best for your competitors!