Transform your Business Strategies from Practically Radical
In Practically Radical, business leader William C. Taylor, the founding editor of Fast Company magazine, explores radical innovation and how companies can break free from traditional business models to embrace a culture of innovation. He examines successful innovations, providing real-world examples of groundbreaking ideas that transformed industries. If you want to drive Digital Transformation in your organization and implement an innovation strategy, this book is packed with practical advice and key strategies to help you challenge the status quo.
A Strategic Approach to Innovation
Shifting from a current business model to an innovative one requires a commitment to innovation and the willingness to embrace change. Taylor identifies two major ways companies successfully transform:
Vuja De: Seeing the Familiar with Fresh Eyes
If you’ve heard of Déjà Vu, think of Vuja De as its opposite—the ability to look at something deeply familiar, like your operational model, and see it as if for the first time.
A great real-world example is the Swatch Group. By the 1980s, Swiss watchmakers were losing their dominance in the global market. But Nicolas Hayek, instead of abandoning traditional craftsmanship, reimagined the product design of Swiss watches, blending affordability with quality. This incremental innovation revived the brand and proved that successful transformations come from rethinking old models.
Ask yourself: When was the last time you viewed your business with fresh eyes?
Borrowing Bold Ideas from Other Industries
Taylor argues that disruptive innovation doesn’t always originate within your own industry. Examples of companies that reshaped entire sectors often borrowed concepts from unrelated fields.
One of the most famous business models was inspired by a Chicago slaughterhouse in 1912—Henry Ford used their assembly line concept to transform product design in the automotive industry, creating the widespread adoption of mass production. More recently, companies like Commerce Bank applied cutting-edge technologies from retail banking to differentiate themselves from traditional financial institutions.
Where can you pull innovative ideas from outside your industry to reshape your organizational culture?
5 Truths of Corporate Transformation - The Innovation Process
Taylor outlines key strategies for business transformation. Here are five core truths to help companies foster ongoing innovation and break away from stagnation:
Tunnel Vision Kills Innovation – Businesses often suffer from incremental innovation instead of pursuing bold ideas that challenge industry norms.
Look Outside Your Industry – Instead of following your competitors, observe industry trends and steal what works from successful innovations elsewhere.
History Can Hold You Back – While past success informs future growth, clinging to outdated methods limits action for businesses trying to evolve.
Urgency Drives Change – Transforming your business models requires momentum. Instill urgency to avoid stagnation.
Never Stop Learning – Expert innovation strategists continue to develop their technical skills, adapting their strategic planning to market shifts.
Shaking Up Your Industry - Become the Most of Something
To lead your industry, incremental innovation isn’t enough—you must go beyond and become the most of something in your niche.
Take Zappos, for example. They weren’t just another e-commerce site; they built their brand around customer experiences, redefining service standards. Similarly, Ryan Air disrupted the airline industry by stripping away every excess cost to create the most extreme budget airline model in Europe.
To succeed, your company needs more than just a strategic approach—you need a commitment to innovation that sets you apart.
5 New Rules for Breaking Traditional Business Models
Stop Trying to Be Everything – Specialize. Find your type of innovation and perfect it.
Expanding Focus Can Work Too – Some businesses thrive by thinking bigger. London Drugs launched an airline division instead of just buying jets for executives.
Genuinely Care About Customers – Customer experiences drive loyalty, not just low prices.
Engage Emotionally – A brand without an emotional connection loses long-term customer trust.
Adopt a Blank-Sheet Mindset – Even established companies can disrupt their actual business model by embracing radical innovation internally.
Becoming a ‘Humbitious’ Leader
True leaders don’t rely solely on business strategy—they also develop a mindset of continuous improvement. Taylor introduces the concept of "humbitious" leadership—a combination of humility and ambition that drives the most successful entrepreneurs.
5 Habits of Humbitious Leaders:
Admit What You Don’t Know – Successful entrepreneurs understand that learning never stops.
Leverage Collective Genius – Foster a culture of innovation by involving your team in strategic planning.
Reject Ideas Without Killing Morale – Groundbreaking ideas don’t happen in a vacuum. Allow space for feedback.
Get External Input – Expert innovation strategists seek advice from beyond their industry.
Build a Humbitious Culture – A company that values both technical skills and leadership humility thrives in disruptive innovation.
Take Radical Action for Your Business
Practically Radical is a must-read for any business leader seeking practical advice on shaking up their business models and embracing radical innovation. Whether you’re leading a startup or a Fortune 500 company, the insights in this book provide a strategic approach to ongoing innovation.
