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Showing posts with label Leadership. Show all posts
Showing posts with label Leadership. Show all posts
Communicating Across Generations and Sensibilities
Strategic Disruption
(updated 2021)
All bets are off and it’s all because of technology. Technology has the uncanny ability to simultaneously lend itself to severely divergent lines of thought. Technology increases efficiency, decreases the ideological shelf-life and, in general, annihilates breathing room. It sounds like a destructive force; but, if you successfully employ its genius, technology promises to be the most constructive tool in your tool belt. It’s our modern fire, giving rise to limitless unforeseen necessities and novelties, alike.
What Was
Recently, I attended a capital markets conference. Here, speakers discussed historical trends and premises that “we all knew to be true,” but more importantly, economist posed a problem set: if GDP has rebounded, why don’t we feel like we’ve rebounded from the great recession? Why don’t the indicators reflect what “we all knew to be true?” The underlying problem is that what “we all knew to be true” was never the pure unfettered truth, it was simply an assumption prevalent in every financial and economic model. We were so busy relying on faulty assumptions and dissecting our models that we never foresaw the arrival of “the new truth” – blindsided.
What Is
In the past, we simply dug ourselves out of the proverbial depression/recession hole. The philosophy: if we simply employed human capital, (physical and intellectual), we give our best honest effort; and who could ask for anything more? The problem: our best is no longer good enough, we’ve been disrupted. For the very first time in human history, simple human effort is no longer the driver of productivity. Capital/Resources are neither scarce nor limited. We’re effectively living outside of the box, where the problem set is more complex. Technology is the new driver of productivity,
and it’s everywhere.
The current truth is that our old models, assumptions, and expectations don't work for today. There’s no “new truth” playbook, and the schools of thought and infrastructure for employing capital/resources effectively in this new environment are tentative, at best. The time is ripe for exploring different approaches and radical alternatives.
When disrupted, disrupt.
To disrupt, think outside of your box; way outside.
"Not only did we theorize about creativity and innovation we walked away with real and practical tools to use in our organizations."
- The Power of Creativity
What Will Be
Strategic planning usually involves the exploration of trends and developments in one decisive industry. The technological, financial, and operational impacts are considered with this industry specific filter. The challenge is to not only think cross-functional, but to also think cross-industry/cross-channel. What are the possible intersections and points of divergence? What may a small nimble and unencumbered start-up explore that paradoxically an established organization cannot risk exploring? Here’s the blind spot(s) for the incumbent and opportunity for the entrant.
This isn’t new. It should be part of the SWOT analysis that feeds into the strategic plan. What’s new is expanding the analysis beyond consideration of the usual players. Disrupt the strategy as usual and get outside of the box. The HBR article Big Bang Disruption discusses how producers of portable navigation units failed to foresee the impact of smartphones and free navigation apps. Products from popular producers, like Garmin and TomTom, literally became irrelevant overnight. Become your own best competitor; do the thinking for them and mitigate the potential threat through adoption, adaption, or acquisition.
No, this is not entirely new, and I’m not suggesting that I’ve stumbled upon some magic formula. However, there’s certainly room for us to expand our strategic considerations and to think more dynamically. If we’re not periodically stretching ourselves to peer outside of our box, to assess the current environment, to consider a wide range of possibilities, and to prepare for the worst-case scenario, we risk being yanked outside of the box, against our will, unprepared, and clueless. Your choice.
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Three Fundamentals of Good Stewardship
(updated 2021)
Refresh
Memories are short, so it's always a good idea to create “refresh moments” for both internal and external stakeholders. These are moments when we reconnect the dots, in new and creative manners. It’s a mission update that maintains the integrity of the initial underlying meaning. It's also an opportunity to incorporate new ideas, technologies, and approaches to add elements of flexibility and adaptability to keep stakeholders invested.
Everyone changes over time, so when the product or service changes with them they are more likely to feel that what you offer is still relevant. Look at Coke and Pepsi, for example. Every now and then they introduce a new product or marketing campaign. They’re new, innovative, interesting, weird, etc. Beauty is in the eye of the beholder. Nonetheless, the product or campaign is bound to grab your attention and beg for new consideration. Despite all of these changes, the mission always remains the same, “To create value and make a difference; to be the best consumer products company,” they’ve lost nothing by branching out and adapting. These campaigns are important to all stakeholders. An internal meeting will certainly look different from the 30 second commercial; but, it’s important to reconnect with all stakeholders in new and fresh manners.
Feedback
Feedback is the lifeblood of greatness. Formal or informal, solicited or unsolicited, known or anonymous, it can provide valuable insight into the organization’s perceived and real performance. Soliciting feedback also helps stakeholders feel connected and part of the process. Again, it works for both internal and external stakeholders. Incorporating feedback into future operations lets stakeholders know that their voice is heard and that their vote, suggestion, idea, and concern matters.
Reluctance to receive and incorporate feedback will likely foster a negative perception. There’s always room for improvement. An Olympian does not achieve prime performance without coaching, so how can an organization improve without feedback? Keeping an open-mind and fostering the feedback loop increases the chances of receiving helpful insight from stakeholders.
Mid-Term
In business, we tend to speak in terms of short and long. But, the rest of the world does not necessarily understand or operate according to these terms. So, as we make our short-term and long-term goals, don’t forget to relay the “mid-term” direction that ties one to the other - translate our terms into something meaningful to the whole.
”In order to achieve and sustain a balance of complicated and often conflicting concepts, decision makers must actively cultivate critical thought as a mode of being. Ultimately, it is mutual openness - a collaboration of perspectives – that yields sound decisions.”
- The Key to Sound Decision Making
The more we enable our stakeholders to take ownership of the mission, the more they become advocates for us, and the more we are likely to meet our goals and age into something valuable, endeared, and loved, like a fine wine.
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9 Behaviors Small Business Owners Should Avoid
(updated 2021)
Small business owners have a lot on their plate, and they don't usually have a lot of resources to get it all done, including time, money, and staff. These conditions make it tempting to take short cuts, which isn't necessarily a bad thing. But, there's some things that always deserve your full attention:
Skip Due Diligence
Implementing a quick solution to an un-vetted problem may seem like a great idea, initially; but in the long-run, a well thought out plan of action is much better. Establish processes and procedures that provide for objectivity, such as an independent review or committee, to ensure that you consider a broad spectrum of perspectives, to choose the most effective solution, and to avoid unforeseen consequences.
Assign responsibility for each phase of the project/program/event, track the progress, and hold team members accountable for their performance. This way your client gets the best possible product/service – avoiding disappointment or confusion.
Over-commit/Over-promise
Be realistic about what you can and cannot accomplish. Take stock of your resources, (human, materials, networks, suppliers, etc.), work within those confines, and allow for an appropriate margin for error. You’ll never wow a customer by being stretched too thin. When resources are spread thin the product quality may become sub-par, and an obvious turn-off for customers.
Under-commit and over-deliver. The goal is to win the customer's approval, to garner respect and admiration, and to ignite the desire to recommend your organization to their networks. You'll accomplish this by providing a quality product/service that meets or exceeds your customers expectations.
Lose Focus of the Mission
There’s nothing worse than dealing with a confused organization. And if the organization is confused, then so too are the potential customers.
If you’re flying by the seat of your pants, you're not making time to be reflective: Is your organization in alignment with your original intent? Or does the original intent need to be refined? All healthy organizations have robust internal communication systems. Employees need the organization’s leaders to show them how the mission translates into current and future initiatives. Without a clear understanding of the purpose and direction, employees cannot advocate and relay the desired image to current and potential customers.
Forget About the Customer
It’s a cardinal sin to forget about the customer. Really. They are the cornerstone of your organization. If you don't solve a problem for the consumer, why does your organization exist? There’s a lot of moving parts in business, and it can become easy to allow other concerns to cloud the focus. You must fight against this constantly.
The second part of this battle is the customer has an ever changing face, need, want, and desire. If you don’t stay up-to-date concerning the changes, your competitor is likely to successfully arbitrage your efforts. This doesn't mean that you give away the bank trying to make your customers happy. There are limits to the adage that "The customer is always right.” But never forget that they are the reason you exist, without demand, there's no need for your supply.
Assign responsibility for each phase of the project/program/event, track the progress, and hold team members accountable for their performance. This way your client gets the best possible product/service – avoiding disappointment or confusion.
Over-commit/Over-promise
Be realistic about what you can and cannot accomplish. Take stock of your resources, (human, materials, networks, suppliers, etc.), work within those confines, and allow for an appropriate margin for error. You’ll never wow a customer by being stretched too thin. When resources are spread thin the product quality may become sub-par, and an obvious turn-off for customers.
Under-commit and over-deliver. The goal is to win the customer's approval, to garner respect and admiration, and to ignite the desire to recommend your organization to their networks. You'll accomplish this by providing a quality product/service that meets or exceeds your customers expectations.
Lose Focus of the Mission
There’s nothing worse than dealing with a confused organization. And if the organization is confused, then so too are the potential customers.
If you’re flying by the seat of your pants, you're not making time to be reflective: Is your organization in alignment with your original intent? Or does the original intent need to be refined? All healthy organizations have robust internal communication systems. Employees need the organization’s leaders to show them how the mission translates into current and future initiatives. Without a clear understanding of the purpose and direction, employees cannot advocate and relay the desired image to current and potential customers.
Forget About the Customer
It’s a cardinal sin to forget about the customer. Really. They are the cornerstone of your organization. If you don't solve a problem for the consumer, why does your organization exist? There’s a lot of moving parts in business, and it can become easy to allow other concerns to cloud the focus. You must fight against this constantly.
The second part of this battle is the customer has an ever changing face, need, want, and desire. If you don’t stay up-to-date concerning the changes, your competitor is likely to successfully arbitrage your efforts. This doesn't mean that you give away the bank trying to make your customers happy. There are limits to the adage that "The customer is always right.” But never forget that they are the reason you exist, without demand, there's no need for your supply.
Listen to your market's opinion to work towards an understanding or agreeable solutions. In any case, as a going concern, the customer should simply never be disregarded.
Become Inflexible
Those that survive the storm are not unyielding nor are they too lenient. When presented with new information, we have to be willing give new consideration and change strategy, policy, and behaviors as required.
The only thing that’s certain is change. Accept it and deal with it to the best of your capabilities. Otherwise you risk missing new opportunities by being stuck on obsolete technology, theories, and consumer needs.
Forget the Earth’s True Trajectory
The world does not revolve around you. Everyone else knows it, and you should know it too.
Be patient in your endeavors, especially at work. Everyone has commitments, responsibilities, etc. Be understanding and work with others to accomplish goals. The world has its own idea about things and a mind and will of its own. You may or may not be a part of the equation from one day to the next…be patient. We are all interdependent and although it may be “easier” if everyone bent their will to yours it is unlikely, and makes for a miserable workforce. World domination requires people who are willingly bought into an idea. That tends to occur when individuals are appreciated in their own right.
Fail to Maintain Branding Efforts
Don’t underestimate the power of communicating with your audience simply by showing consumers what you want associated with your brand, including name, design, symbol, and slogan.
Approximately 90% of communication is non-verbal cues. Perhaps this is because extensive verbal language is much newer human development than non-verbal communication. Visual and emotional cues still dominate our landscape of understanding: colors, shapes, and short and sweet slogans. These are easy to grasp cues – the ones that stick with us – but only if you remind us, periodically.
“Embracing the spirit of creativity does not guarantee a win. In fact, it could open a door to failure. But as the saying goes, "You never know unless you try." We do not have to wait for an incubator or an economic crisis to capitalize on creativity. Any organization can create a sustainable environment that allows for exploration and norm divergence without judgment or punishment for perceived failures.”
- Embrace Creative Failure to Realize Your Best
Over Complicate Matters
Communications, processes, and procedures tend to be inherently complex, so it’s helpful to clarify and to streamline processes to arrive at a more basic and easily understood conclusion. Complexity does not equal intelligence, a good challenge, or superiority; it simply causes confusion and frustration. When consumers encounter a clear barrier to understanding, they’re not intrigued. They’re usually annoyed, frustrated, and reticent to continue with your organization. Besides, I bet someone else wants their business and is willing make it very easy for them.
Forget to Breathe
Remember to take a break when necessary. You’re only human and everyone will be happier if you get the rest and personal attention that you need. No one likes cranky adults - Really.
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