Thread by @utenjm

I see comments all the time about large companies, customer service (or lack of) and profits that these companies are generating. These comments are valid but I want to share a few more factors to consider.

First off when you run a large business that is pervasive, this is no longer just a business but a platform. Facebook is not a social media company but a Telecom. Financial institutions like NCB are utility companies. They are more than just the services they provide.

Because they are now platform and utilities - they have to operate differently. It's no longer easy to innovate or optimise or even understand internal and external experiences. Experience and needs are fluid but these organisations need structure to continue scaling.

Think of it like a bridge. It has to be strong to not be washed away from the dynamic river below it, must be stable to support traffic and yet supports a constantly increasing amount of traffic over the decades. One investment that yields consistently higher returns.

Over the years there may be upgrades - railing, stop lights, additional lanes, cat eyes etc.

Demand for this bridge grows more and more daily and the return on investment grows higher & higher.

Everyone is happy with this bridge even if it's a bottle neck - because consistency

Eventually the bridge has to be replaced. It cannot keep up with the load, but the transformation process results in an even worse experience. There's less maintenance on the original bridge and the new bridge being constructed further up river is out of sight.

Everyone assumes that the operators of the bridge are doing a bad job - not knowing that they have been trying to time the upgrade and create the right financial balance for years so that everyone is included. Even though majority of returns are from a few customers.

The fact is it's hard to provide a great experience during this transition period. Plus things are booming so it's always a transition period. Can't just constantly preach better is coming - you're a bridge operator, not a church. It becomes a PR nightmare.

At the same time you can't reduce profitability either - that's a bad sign to those who have invested in this company and are relying on dividends and growth to pay the pensions of the same customers who use the bridge.

Now my suggestion is to improve collaboration - which especially happens in tech enabled companies. Allow Mavericks to create better experiences and later pull them into the bridge operating company. Balance without up front investment. That's the current missing link.

Right now in the Caribbean, there is no policy or regulation to encourage this collaboration. It's a great concept but very little incentive for big companies because of the associated risks. Customers already disgruntled - project being executed and this could go wrong.

Another challenge is that there is very little early stage financing available to fund collaborative and innovative projects. There are smaller bridge operators who can get financing but there's a gap in the value and instrument of financing used to solve the problem.

At this point I'd like to bigup @DBJamaica @FirstAngelsJA @the_IDB for actively trying to increase equity and debt based financing in the region. Also business development organisations like @BransonCentreCA (shameless plug), @JBDCJamaica for matching founders to investment.

Whoa this is way longer than intended.

So as a customer of these large entities, you have the opportunity to demand the innovation you seek. Either collaborate with your vendors to create the ideal experience or create work arounds to attract others who face the same issue.

The onus is on you to not miss out because of a bottleneck or impediment. Talk actually does help because it lets others know what size market faces a particular issue. You may not address it but someone can.

The other factor is when people offer solutions, then use them. Don't say oh I don't use xyz service because I only trust my vendor( e.g. big bank). You're only contributing to the problem and slower rate of change.

Eventually new companies will become the next great institution that will have to be upgraded or replaced. Creating a healthy cycle of business, a growing economy and hopefully better standard of living for all.

There are a about 50 possible segues to this thread so let me know your thoughts and we can keep the conversation going. Cheers.