Strategy and investment recipe for global rock star status
Earlier this week, the LA Times published a story on the success of the California almond industry.
The story is available here, and cites some pretty impressive statistics about California almonds, including the fact that California produces 82% of the world’s almonds.
My favorite quote in the story comes from CDFA Secretary Karen Ross, who said: "It feels like almonds became rock stars overnight. But they've been building in bits and pieces for years. I look at almonds as a great case study because they were very strategic and willing to make long-term investments."
To me, the quote exemplifies what we at Morrison see with our clients in the almond industry, as well as a number of other industries.
So often, the success story of a company like Blue Diamond, Sunsweet, or Challenge Dairy Products starts with a strategy to do something different than the industry norm and then to invest into that strategy, sometimes for decades before the dream is realized. Becoming a global rock star isn’t instantaneous – it is a road that is paved with a continuous eye on innovation and an understanding that short-term pains can lead to long-term gains.
We’re lucky to work with so many clients who understand this and who are in different stages of their rockstar-dom. Some are 100 year old companies who are now experiencing the success their founders dreamed of; others are just beginning their journeys and are mapping out their strategy. It’s rewarding to help out these companies at whatever stage they are in and play a part in them rising to, or maintaining, rock star status.
About the Author
Toni Scott is the managing principal at Morrison. To get in touch with Toni, please find contact information for Morrison here.