As a telecom and wireless analyst and columnist for more than 30 years, countless companies have tried to get on my radar. Of that long list, only a small percentage actually become leaders in their space. Let me tell you about one of these companies which, from what I can tell, has what it takes. They help their client companies transform and stay on the “growth wave”. This company is called Synchronoss Technologies.
A little more than a year ago, Synchronoss brought in Glenn Lurie as CEO to transform and grow the company. Lurie comes from AT&T with 30 years of experience and that gives him the tools he needs to get the job done.
Lurie was CEO of AT&T Mobility and Consumer Operations. He was also responsible for integrating AT&T DirecTV and their digital business. He helped them become the first carrier to offer the iPhone. In fact, AT&T remained the only iPhone provider for several years.
He built three businesses at AT&T. He was in charge of their IoT business which wirelessly connected tablets, cars and consumer electronics. He was responsible for Digital Life, which is their home automation and security. He also led Aio Wireless which changed its name to Cricket Wireless, the leading pre-paid wireless business in the United States.
Why Synchronoss Technologies says carriers need to transform
Over the last 30 years, I have followed Lurie and his success track. Over the last year as Synchronoss CEO, he has travelled the world visiting their offices and people and talking with customers like wireless and wire line carriers and with prospects.
He has been working with his leadership team to transform their business model for the changing opportunities in the explosive wireless and telecom growth industry as we move forward.
Two weeks ago, he was in Las Vegas for the CES 2019 show. He tells a very compelling story about how companies need to transform and jump to the next level. The reason is simple: to remain competitive. And there are a variety of areas each competitor needs to get stronger in and lead.
This is exactly what I have been saying in my columns for years. Companies need to change. They need to stay with the change wave. If they don’t, the growth wave will move forward leaving them behind in the dust. If companies don’t do this, they risk becoming irrelevant in a marketplace that is moving forward.
What happens to company’s who miss the growth wave?
There have been so many examples that every CEO and every investor need to pay attention to. Here are a few important examples to make my point.
Motorola led the wireless handset space for decades until they missed the move from analog to digital in the 1990’s. That miss sent them to the back of the list of competitors.
Nokia, Blackberry and Palm took over the leadership position from Motorola for roughly a decade. Three companies which rode the growth wave until they missed the next big shift. Today, they are at the bottom of the list of competitors along with Motorola.
Apple iPhone and Google Android jumped into the leadership position a decade ago and changed wireless into a world of super smartphones. In this new wireless world, the app market exploded with growth from a few hundred apps ten years ago to more than two million today. That’s explosive growth.
Synchronoss helps carriers stay on the growth wave
So, as you can see the industry changes, continually. That’s exactly why every competitor needs to update and change themselves as well, continually.
5G will transform the wireless industry even more as it continues to grow. However, this growth is not just with the wireless networks and smartphone makers, but with tablet, laptop and other wireless devices as well.
5G will also transform other businesses in other industries as they look for new ways to expand, change and grow their business. Think about the way Uber and Lyft changed and grew the traditional taxi cab and limousine industry.
Leadership at every company should expect this kind of change wave to roll across their industry and transform the way they do business. They can either lead the transformation wave, or they can join in, or they can sit it out.
Only the leaders and followers on change wave will grow
Are you ready? You have a choice… leader, follower or miss the boat. Which are you and your company?
Both leaders and followers can do very well. Leaders carve out the new path for growth. Followers come next and take that route the leaders carved, and they grow as well.
The problems come to the companies who miss the boat. Companies who ignore the change wave and try to stay put. Or the companies who try to change but miss the mark.
These companies will experience negative growth over time. This decline is the serious problem every CEO needs to avoid. Especially for public companies with shareholders.
What Synchronoss helps client companies do
That’s where companies like Synchronoss Technologies come into play. They help wireless and wire line telecom providers, media, pay TV and tech companies transform themselves, remain competitive and continue to show growth as the industry changes around them.
So, keep your eyes on them as this change wave continues to sweep across the industry. It will change what it takes to be successful going forward. Only some competitors will lead in this transformation.
The question every CEO should be asking is simple.:Do I want my company to be a leader or a follower like Apple iPhone and Google Android has been over the last decade, or do I want to be like Motorola, Nokia, Blackberry and Palm, and struggle?
This is the most important question every CEO, every investor, every worker and every customer need to be asking right now.
