The Wanamaker Dilemma
- Aug 31, 2015
- 1 min read
John Wanamaker famously said, “Half the money I spend on advertising is wasted; the trouble is, I don’t know which half.” You can replace the word advertising with the words tactics or projects and the statement would still be true for most companies.
Answer: The tactics or projects that waste our time, money and resources are the ones that aren’t in support of a specific strategy. If you are engaged in a tactic looking for a strategy, you’re wasting your time and the company’s resources.
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Enjoyed this read from top to bottom; the pacing and the detail felt just right. It's a good reminder that small, steady improvements usually beat any dramatic overhaul. I went a bit deeper into the practical side of this at dolomite-finance.net for those who want it.