Don’t Let Groupthink Sink Your Ship

Back in the early 2000s, Nokia was the undisputed king of mobile phones. They had a massive market share and were known for their durable, reliable handsets. But then the iPhone came along and changed everything. Nokia dismissed touchscreens and apps as gimmicks, betting instead on their tried-and-true formula of physical keyboards and basic functionality. They were so convinced they were right that they ignored the warning signs until it was too late. By the time they realized their mistake, Apple and Android had eaten their lunch, and Nokia's market share had plummeted.

The lesson here is clear; groupthink can blind you to disruptive threats and make you miss the next big thing. When everyone in your company is thinking the same way, agreeing without question, and dismissing outside perspectives, you're setting yourself up for a Nokia-style fall.

To avoid this fate, start by actively seeking out diverse viewpoints. Hire people from different backgrounds, with fresh ideas and perspectives. Encourage them to challenge the status quo and question long-held assumptions. Create an environment where dissent isn't just tolerated but celebrated. And when someone does raise a contrarian opinion, don't brush it off; lean into it, debate it, and be willing to change course if it has merit.

Look outside your company's walls for insights and inspiration. Religiously collect customer feedback, seek it out, do empathy interviews. Attend conferences, join advisory boards, and participate in industry forums. The more exposure you and your team have to new ideas and different ways of thinking, the less likely you are to fall victim to groupthink.

The greatest threat to your business isn't always the competitor you can see; it's the one you're too blinded by groupthink to even recognize. Break out of your echo chamber, seek diverse perspectives, and always be ready to pivot. That's how you avoid becoming the next Nokia and stay ahead of the curve.