Strategy « Pete's View – Different View, Better Results

Businesses on edge December 4, 2009

Posted by petemcd in Culture, Leadership, Strategy.
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Every business is on edge- every year, every month, every week, every day, and every minute. Things can change in a heartbeat. Things that may be in your control (you think) or totally out of your control can disrupt your business. A business best practice is always to be flexible and adaptable in your strategy and tactics.

I was in my Mastermind group this morning and we talked about how interwoven everything is. We got to talking about authors of books, articles, columns, blogs and the like. Usually, the writer is writing about things from a certain viewpoint and comes to a certain conclusion or perhaps, a number of conclusions. Often, with authors who write a book, there is a tendency to state that something has happened or will happen because of a set of events or circumstances that drive an eventual outcome. These authors are quite sure that their research and interpretations are spot on. They may be. And, they may not be.

The problem is that events and things in this world are not so neatly aligned or tied up in a package or happening in a linear causative fashion. Consider all of the different opinions on what caused the Great Depression of the 1930’s or the recent and current recession. There is no one or two or three things that caused these. Some authors would like you think they have a handle on the reason and therefore there is a predictability to the future. “Since this has happened, it’s because of these reasons and these are the steps you need to take to avoid a similar situation.” Or, take a look at all the books that have been written about companies like IBM, Apple, Microsoft and others. “This company did it in this way and that is why they are successful. You’ll be smart to emulate them.” Is the author’s conclusion about what made the company successful or unsuccessful really the right one?

Things happen because of a multi-channeled, multi-layered confluence of events that continually shape the environment. So, think of events, circumstances, outcomes, consequences and such as a 3D mix. The world is not a 2D world. The world is a giant Mix-Master with new ingredients being thrown into the bowl every day. There are things happening right now that you don’t even have a clue about that will affect your business (this falls into the You Don’t Know What You Don’t Know category).

And so, businesses are on edge because there is so much that is not controllable or predictable. Andy Grove’s book Only the Paranoid Survive is right on. Obviously, that doesn’t mean that you just pack up your tent, worry a lot become a victim. You need to always be looking over your shoulder and not at just your competitors. Be looking also at the government and politics, the weather, the earth’s environment, your people/ your team and other influences that can disrupt your business quickly.

Being on edge and knowing that things are constantly changing and might be threatening to your business demands that you have a flexible strategy and tactics to adapt quickly, overcome the challenges and win. Regularly taking stock of the world around you and adjusting your strategy and tactics makes more sense than ever.

Pete’s View

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125 November 20, 2009

Posted by petemcd in Strategy.
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OK, I couldn’t think of a better title for my 125^th post. Let’s see, how can I get creative with this one? How about this?

Make 125 contacts to customers and prospects in the next 21 business days- that’s ~6 per day (an average business month has 21 days). Send an informative email, make a phone call about something of value for them, send a letter or flyer with a personal note, connect on social media.
Take 125 minutes over each five day week for personal or professional development- that’s 25 minutes per day. Read a book, listen to audio or watch video that improves and builds your life.
Exercise 125 minutes per week…that’s just four times a week for roughly 30 minutes each- my wife, a personal trainer says that even just walking at a decent pace will be good for you.
Look for opportunities to cut 125 calories out of every meal you typically. At three a day, that’s 375 calories. Do that every day and you’re sure to lose weight, especially when combined with exercise.
Try watching at least 125 channels on TV in one day…just kidding.

OK, help me out here…I’m struggling!

PERFORMA Business Development

Different View/ Better Results

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Health care badly needed November 18, 2009

Posted by petemcd in Strategy.
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For most businesses, that is. Many businesses are chronically sick or on life support. Can anything be done to fix the business and get it healthy…maybe for the first time? Sure.

But first, picture this: a man spends much of his life in an unhealthy way. He over eats, smokes too much, doesn’t get enough exercise, doesn’t get enough sleep, has enormous stress because he’s a control freak, and over consumes alcohol. Criminy sakes, it sounds pretty bad, right? And yet, there are millions of men, and women, who fit this picture. But the good news is that many people who choose to change their habits can not only rid themselves of all or most of the symptoms and conditions they acquire, they can actually get stronger, healthier and more mentally sharp through a disciplined wellness program. It’s true, because I hear stories about these successes every week from my wife- she’s a certified fitness trainer and wellness coach.

Businesses that are ill or really sick can get better through rigorous application of disciplined business best practices. I saw a video today from a sales training group I have respect for, Whetstone Group (they don’t have a clue who I am, so this is not a paid for endorsement). The gist of the video was that so many sales people are having trouble in this economy because they continually practice bad habits. They aren’t using a sales coach, they aren’t regularly practicing a good sales methodology, and they don’t do their homework.

Likewise, I know a few businesses that have either never developed a strategy or have one that is sitting on the shelf collecting dust. Wouldn’t it be wise to actually develop one and then use it an implement it? Think about a doctor, who has spent all his time in med school, has all the books and equipment, yet never uses them or studies up on the latest best procedures and information. You wouldn’t want him would you?

All of these are things that can be changed. You just have to make the decision to change the way you do business in order to get and stay healthy: to be disciplined in strategy development and implementation; to cut out the things that are hurting your business; to use best practices in marketing, sales, customer service, operations, finance and accounting, production, to use experts who can help you in areas you are weak, etc.

Different View/ Better Results

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Proven math: 1+1=5 November 11, 2009

Posted by petemcd in Strategy.
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In business (or in organizations), sometimes magic happens. It’s called synergy, the definition being “the cooperative interaction among groups that creates an enhanced combined effect.” The magic isn’t the result of luck or karma or good intentions. It’s the result of business best practices which involve business strategic planning.

It doesn’t happen overnight. It’s the result of systematic, focused, intentional leadership and management that drives and manages an organization to excellence. It usually leads to higher sales, higher profits, happy clients, greater customer retention, happier and more loyal employees and other stakeholders, lower turnover, greater brand recognition and greater market value.

I’ve experienced synergy twice. It’s an amazing thing when an organization is performing at a high level. Everyone understands the Strategy and the Mission, they live the Values and they get the Vision. Everyone is in the boat and rowing…in the same direction. How does this happen? It’s more work and more complicated than you think and it takes time. Here’s a baker’s dozen of ideas:

Develop the Mission, Values and Vision for the org, with input from all stakeholders.
Develop an overall strategy that aligns with the MVV.
Make sure the strategy is ambitious in both scope and speed, what is referred to as a BHAG (big hairy audacious goal).
Develop individual strategies or plans that support the overall strategy.
Develop key initiatives for each strategy.
Make the Marketing and Sales Strategy your most important strategy- all other strategies should support the drive to acquire, retain and grow your customer base. Without customers you can’t work on all those other things like Quality/Process Improvement/Lean/5S, financial management and wellness, human capital development, innovation, etc.
Communicate your MVV and strategy, in person, to your organization- whether in company-wide meetings or in departmental meetings.
Develop a ‘war cry’ or mantra with your team, something to bind you all together in pursuit of the BHAG. Make it serious, fun and meaningful all at the same time.
Make sure everyone understands how their input influenced the MVV and strategy and make sure they understand the strategy at a core level.
Make sure everyone understands and commits to the strategy and key initiatives.
Communicate, Communicate, Communicate the strategy all the time- in meetings, in walk-arounds, in one-on-ones.
Create company advocates- develop a common language for everyone to use in the broad marketplace, so that whenever anyone hears about your business or asks about the company, the message is concise, consistent and carries impact. People hearing the message, from anyone in your business, should be interested in picking up the phone to find out more.
Give regular updates to the organization and while doing so ask for feedback and ideas on how to accelerate the process to get to the goal.

You’ve got your baker’s dozen. Start eating.

Different View/ Better Results

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Interview with the vampire November 5, 2009

Posted by petemcd in Strategy.
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Not really. I was interviewed recently by a good friend of mine, who is out of work and who I will not name, who wanted to know a bit about my views on the kind of business I would work for, if I wasn’t consulting. Mainly, he was interested in learning a bit about how I sort things out. He doesn’t just want any job even though times are tough. In other words, he wanted to know how specific I was about what I would look for in a new job, especially given that the economy is so poor. I suggested that we record it as I thought it might be fun to return to.

So, here’s a bit from that, with Q being the questioner and Me being…well, me!

Q: (Pete) When you’ve looked for a position in the past, what has been important to you?
Me: Well first, as I’ve aged, like good cheese or fine wine or old lawn clippings- you get to pick- a number of things that I once thought were important no longer are.
Q: Like what?
Me: I became more adamant about finding the right fit culturally and less focused on the compensation.
Q: So you’d work for not very much? I have to have money. I need at least $80K.
Me: Money just isn’t the only driver for me although I will admit that I have a certain level that is a minimum because I have certain obligations and wants. I’m clear on my wants and that wants are not needs. You can ask my wife- I have been clear on these for a while.
Q: So what about the cultural fit?
Me: The organization had to have an ownership or management group that was open minded and open to input from team members, operated with had an abundance mentality, meaning there’s plenty for everyone, and they’d have to reflect or adhere to values that I would subscribe to easily.
Q: OK, thanks. That helps.
Me: I just really think it’s important to fit in culturally with the people you are working with. Business is ultimately about relationships and working styles. If you have great relationships and your styles mesh, you can get great things done.
Q: Is there anything else you would look for?
Me: Well, I think people should be able to really see themselves in a particular business or industry. I think you need to be passionate about the business you’re in and able to see that you can combine your passion with your expertise or competencies. I also would focus on the company’s approach to creativity and strategy in its thinking. I also look for a culture that’s driven to be successful and is sales oriented.
Q: Kind of like your consulting practice- one that helps with developing a sales-focused organization. So, would you look for a particular company or industry?
Me: When I was looking, I looked for a business that needed leadership and execution of or development of strategy. Today, I’d probably look for that and I would focus first on an industry that I could be excited about and then look for companies in that industry where there is a cultural and style fit.
Q: What would excite you in a company or industry?
Me: One where there is growth potential, either because the market is available or the company could steal market share. This is even possible in older, more mature businesses. Personally, I would need to be excited about the product or service being offered, seeing it as something I could get my arms around and be charged about every day. No offense to others, but as an example, I wouldn’t be excited about selling septic systems. Not my thing. For me, a business where there is creativity represented in the product or service is important.
Q: How would you find out about particular companies?
Me: By networking with a wide variety of people, some in the industry or related industry and some in other professions like banking, law, etc. People in the network know a lot about companies. Also, search for articles on companies in an industry to find out who has needs.
Q: But how can you be sure that you’ve found the right company.
Me: I’ve changed my thinking on that too. Now I see the process as a mutual interview. I’m not ceding control of the process entirely to the hiring party. I’m always thinking about the kinds of questions, challenging strategic and tactical questions and cultural questions, I can ask that will give me an idea of what the company and management team is really like. One of those questions, if the interview process is progressing, is to ask to talk to 3-4 other employees and get their view.
Q: Is it good to be able to articulate what you’re good at, or be more general?
Me: I think it’s good to be specific. For example, I’m good at spotting dysfunction in a team, detail work, planning, executing, providing leadership, encouraging others, and seeing the big picture. I’m not quite as good on being super creative in strategy, although I can develop strategy.
Q: OK. Is there anything else you can tell me that would be helpful?
Me: My advice is to look for an industry you can be excited about, a company with products and services you can be excited about, and a role that fits into a culture you can be very comfortable with. You have to like the business and the people. And one other thing which I think is important in this regard: make a side by side list of non-negotiables for yourself in considering a job. The way I do it is to write out what I absolutely do not want in a position, culture/style, company and industry. Then I write out what is my ideal position, culture/style, company and industry. I know that in tough times this may seem a bit extreme, where many people are just thrilled to find a position. But, you have to be very focused in this area because it will help others to direct and refer you to opportunities.
Q: Thanks, this is helpful. So, with all of that I’m curious- if you could find the right thing today, even though you’ve got your own business, would you take a position with an organization that offered the right opportunity?
Me: hmm, if it was really the right opportunity and I was as clear as I could be about the org’s operational style and goals and there was a match to my style and goals, I’d be wise to strongly consider it because I enjoy people and exercising my leadership and other skills.
Q: OK, thanks. This has helped me a lot.
Me: Glad to help, buddy. Good luck.