New Lantern

About the blog

Light from the
New Lantern blog

Welcome to the New Lantern blog. Our goal is to shine light on leading innovators and creative artists, and how your business can learn and profit from them. Companies large, medium, and small can benefit from employees who think more creatively. New Lantern may be just the source of inspiration your company needs to spark more innovative products, services, and processes.

Fast Company cover

RSS Buttons

Follow New Lantern on Twitter



Is Your Company as Good as Ever?

Posted by on May 29, 2011 at 6:51 pm

In Toby Keith’s 2005 hit country song, “As Good As I Once Was,” the punch line of the song goes, “I ain’t as good as I once was, but I’m as good once as I ever was.”

I can’t say that it’s a favorite song of mine, but the song surely resonates with my husband. Leave it to country music to always win the day in the lyrics category. And as lyrics go, “As Good As I Once Was” is as good as it gets.

The song spent six weeks at the top of Country music charts in 2005 and helped to make Keith one of the most popular singer-songwriters of the past decade.

“As Good As I Once Was” may also resonate with your company as suggested in this verse:

“I ain’t as good as I once was,
My, how the years have flown,
But there was a time back in my prime
When I could hold my own.”

Has your company seen better days? Were you once number one in your product category, or higher up the charts than you are now? Odds are that your employees may be less motivated today than they were a few years back when your workforce was probably younger and hungrier. But don’t worry, you’re not alone. I’ve probably just described over half of the Fortune 500.

Many companies today are looking over their shoulder to find younger and more ambitious competitors on their heels. Or worse yet, you may already be looking at their taillights.

There are ways to turn maturity and experience to your company’s advantage. Sure, your organization and employees may be less nimble than they were a decade ago, but you can draw upon the expertise that comes with age. The key will be to find ways to inspire and incent your workforce through creative compensation and reward programs.

A motivated workforce also starts with motivated managers. Make sure you are utilizing innovative executive and manager training programs to spur more inspired leaders.

In the end, you should not try to match your younger opponents step-by-step, but should seek to ensure that each step counts and is smarter and more efficient based on valuable experience and perspective.

That’s the type of company I would want to work for. Then again, I ain’t as good as I once was, but I’m as good once as I ever was.