What Makes You Different?
2010 will not be a lot different from 2009, economically speaking. We are still in a recession, people are still being laid off. Companies are doing a little bit better, but they are not rushing to hire. If we keep doing what we were doing in 2009, we will continue to get the same results.
But, here is the flip side- people have time to listen now. If you have a good story, or a new product, or a new way to reach customers, they have time to listen to you. SO, what do you want to tell them? Who are you? Do you have a great product or service? How do you tell your story? Who do you tell your story to? Are you the best kept secret around?
There are so many inexpensive ways to get a message out- Web pages, blogs, facebook fan pages, email newsletters. Okay so you know how to communicate, but do you know what to communicate? As a consumer here is what I want to know:
Who are you?
What is your product or service?
Why should I choose you instead of your competitor?
Who do I know and respect that recommends you?
What will I gain from working with you or buying your product?
If you sound like everyone else, I probably will not be motivated to talk with you further.
Good luck!
It is complicated
Doesn’t it seem that we spend way too much time doing things that we don’t like to do and not nearly enough time on what we enjoy?
Or, we work really hard, but it doesn’t get us the results we seek?
There are so many ways to do things, yet we do them in the same way we always did them. It just seems easier, or faster or less complicated.
But, life is complicated. And, sometimes we need to get really clear about where to focus.
Working with a wonderful team at a growing entrepreneurial company I suddenly realized that while we were talking about strategy at the 30,000 foot level, it was not what they most needed to do. They didn’t need one more exercise in strategic goal setting, but rather to take one idea and peel it down layer by layer until every commitment and each step was on the calendar for all employees involved in making this project a success. This is a company that is always in such a hurry to put out the next fire, that customers who should have been ecstatic with the quality of their product, were left annoyed at small details that weren’t addressed.
Sometimes we just need to focus on execution. If it is not working take it apart and try doing it another way-stop suffering.
What’s in a Strategy?
In today’s Wall Street Journal Nov. 30, 2009, there is a front page article on Oracle CEO Larry Ellison’s decision to vertically integrate through its purchase of Sun Microsystems which makes hardware, something Oracle never did before. In fact, Oracle’s strategy for the first time in its 32 year history is to create a conglomerate of computer software, hardware and components like “TJ Watson Jr’s IBM”, Mr. Ellison said in September.
SO, what’s in a strategy? When do you hold ‘em and when do you fold ‘em? In Mr. Ellison’s case, it was opportunistic. He suddenly had access not only to Sun’s software, for which he originally bid, but the hardware and computer components business as well. Mr. Ellison began to think about the benefits today in vertical integration. Lots of other companies are doing it too. Companies that were selling off parts of the business to be more efficient only 2 years ago are selectively buying parts that they now want to control. SO, would that work for Oracle?
Well, guess what? Times and conditions change. We make certain assumptions about the world when we set a strategy. Assumptions like, the dollar is stable and the banking system can depend on the US market. Or, the basic commodities on which my company depends will be cheap and readily available. Or, I can count on delivery times from my suppliers. Efficient world markets and ready supply of commodities made this all true for many years. Now, that has been challenged and companies that could afford to focus on only what they excel at are now looking at gaining back direct control. Their assumption that we could depend on efficient markets is no longer certain. If they cannot deliver the correct product at the correct time at a fair price, they will not maintain their dominance in the market.
Secondly, the break-up of large conglomerates accelerated efficiency in the market. All the benefit from that has been incorporated in these new companies. Future growth has to come from something else. Each of these suppliers had to make a profit along that chain. By, integrating them, some of that profit and some of the redundancy (back office, overhead, etc) can be squeezed out at the same time as control gets tighter. This will benefit the new conglomerate and ultimately the customer.
Thirdly, a strategy is not written on a stone tablet. Many competitors exist in a given market with differing successful strategies. You do need to have a strategy and to take careful steps to execute that strategy. You do need to evaluate your success with a cold eye. If it is not working then you do need to figure out whether another strategy is likely to be better. That’s what Ellison did. Is he right? According to the Wall Street Journal Ellison said, “We’re really brilliant, or we’re idiots.”
“You can accomplish more in a crisis than in steady-state periods.”
In the Nov. 23, 2009, Los Angeles Business Journal, there is an interview with Ted Carver, Jr. the CEO of Edison International. He was talking about a time of crisis in California when the electricity prices were deregulated and the cost of electricity was turned on its head. He was asked what he learned from the crisis. He said, “In a funny way, you can accomplish more in a crisis than in steady-state periods. You don’t ever want to squander one of those opportunities to effect change and make a difference.”
For most business owners, the last year has been an “opportunity” to effect change. Headcount had to be cut. Capital expenditures stopped. New projects put on hold. 401k contributions halted. And, did I mention the number of people that had to be let go to keep companies afloat? For some whose businesses have been streamlined, and projects and people down-sized, this has produced a sense of relief. In general, most businesses have figured out by now how to stay profitable at these lower levels. However, walk into any business and you will find everyone working harder and longer.
SO, how do you find opportunity in all of this? In previous periods of disequilibrium, there were individuals who emerged as hugely successful because they took advantage of the changed circumstances. Those who have cash can buy businesses and property at reduced rates. Competitors may be weaker. Increasing marketing and improving customer service can retain customers and attract new ones. What about reaching out to new customers through social media?
As we get to the end of 2009, engage your team to reflect on what the world will look like in 2012. Don’t just think of 2010. Where will you need to put your resources? What will you need to let go of? What is one thing you will have to do differently? What have you been afraid to try, that you can’t wait any longer to see if it works?
Let me know what you decide.
Leadership Style of Working Mothers-Pt. 3
okay, last one.
They pick their battles
How important is it for the teenager to pick up his room? How important is it for the sales manager to fill in their call report. If it is important, she probably will come after the result in several different ways that engage, threaten, co-opt or punish to get the accountability.
They hold firm when they believe it is really important for their constituency (kids or staff or company objective)
When it is really important they will fight to the bitter end. You’ve seen the Mother whose kid has a peanut allergy argue about the snacks at pre-school. Or, the scientist who will not sign off on a bad lab sample, even just once. Be passionate about what you truly value.
They tend not to care who gets the credit.
Ronald Reagan said “you can accomplish much if you don’t care who gets the credit”. Moms don’t get much credit but they get a lot of blame. Deborah Tanner in her many books about the differing linguistics of men and women describes how all female groups don’t appreciate the woman who brags. The group is very conscious who does what and you will get rewarded for doing your part over the long term. So, from an early age, girls learn to work with the group for the goal and don’t go looking to get all the credit. Credit the group and the others who helped you succeed.
They can negotiate with 3 year olds.
How much patience and long term perspective does that take? Now, apply it to the work place and you see why some women seem to get ahead in our flat world, that now has less hierarchy, more cultural difference and instant feedback though social networking about how we are showing up.
Leadership Style of Working Mothers Pt. 2
SO, what else can we learn from working mothers?
They are used to emergencies
Kids throwing up all night and no sleep. Not enough cash to meet payroll. This too will pass.
They know how to ask for help.
There is so much to do to keep a household running, get the kids to school and have enough energy to focus at work, most working Mom’s get pretty used to groveling, begging, trading off favors, living with disapproval, living with compromise and asking for help-usually from other Mom’s. The controversy about working v. non-working Mom’s is way overplayed. GO ahead, ask for the help you need. That is not a sign of weakness, it is a recognition of real limits.
They adapt to change
The client just decided to change the ad campaign you had been working on for 2 months. The kid just decided turkey is poison after only eating turkey sandwiches for the last 3 months. SO, what else is new?
They pick their battles
How important is it for the teenager to pick up his room? How important is it for the sales manager to fill in their call report. If it is important, she probably will come after the result in several different ways that engage, threaten, co-opt or punish to get the accountability.
What can we learn from working mothers? Pt. 1
What can we learn from working Mothers that lead large organization?
- They can change activities quickly
- They focus on results
- They keep track of lots of random information
- They prioritize and reprioritize all the time
- They go for the best fit solution quickly when there is an emergency
- They are used to emergencies
- They know how to ask for help
- They adapt to change
- They pick their battles
- They hold firm when they believe it is really important for their constituency (kids or staff or company objective)
- They tend not to care who gets the credit
- They can negotiate with 3 year olds
While some of these ideas may be a little too perfect, I have seen everyone of these stories in real life....just not all in the same person. :>)
I'll break this down into smaller pieces over the next few days.
They can change activities quickly
Standard advice for most CEO’s is to clear your desk of distractions and focus on one thing at a time. I wish. Most CEO’s can’t get that kind of clear focus until all the staff goes home at 7 pm. So, be clear on what is important and schedule time on your outlook for you to do YOUR projects.
They focus on results
Many firms place a lot of emphasis on face time-being there late because the boss is late. You will notice that the working Mother is not one of those, many times to her political detriment. She has only the allotted time before the day care center closes to get all the day’s work in. She doesn’t smooze, she’s meeting with her staff, or finalizing the report. She probably hasn’t seen the latest movie, or watched the basketball game, but she doesn’t miss the deadlines at work or at home. Pay attention to the results and the outcomes.
They Keep Track of Lots of Random Information
She remembers your birthday. She remembers the birthday of all her staff. She knows their kids’ first names and what grade they are in school. She remembers the client’s birthday. She remembers the names of her kids’ friends. She remembers what is important to the person inside the employee or client. Pay attention to the relationship.
They prioritize and reprioritize all the time
The client calls and wants the project finished 2 days early. She puts the kids to bed and calls the team who all work on the project remotely until it is agreed that it will be finished on time. Be flexible.
More to come on Wednesday.....
Overusing our Strengths
There has been a lot of good work done recently about identifying strengths in leaders and recommendations to only do what you are uniquely qualified to do. There is another side to how we use our strengths that I would like to explore.
Leaders typically are pretty efficient at what they do well and love to exercise those abilities. It feels really good when we use them. When it seems obvious or useful, we slam down with our greatest skills, solve the problem and move on. So, what do the people around us learn from our awesome performance?
- Let the boss solve it
- She/he doesn’t listen
- We always do things the same way around here
Make a list of your strengths and check with a few people around you to verify that they value them, too. The next time you sense you are about to pull one out, hold back and see what others come up with first.
If your first response is to go into “Solve” mode, how about asking for suggestions, then keep quiet.
If it is always about how we think, explore how we feel.
If it is always to close the sale, what else could you add before you finalize the price?
The Translator
On Tuesday, November 17, Charlie Beck is likely to be confirmed as the New Chief of the Los Angeles Police Department. Following an inspirational leader like Bill Bratton is no small task. Bratton has turned around the LAPD and created deep bonds with the community. Beck describes his role as the police officer’s police officer who can take the changes that Bratton made with the management staff deep into the rank and file.
In every successful organization there is someone, usually the top leader who sets the vision: “here is what we want to create in the world.” With a vision, they excel as Bratton’s LAPD did.
In many organizations ”what we want to create” is unstated. So, for subordinates, both leaders and those on the floor or on the street, this becomes “my interpretation is as good as the next guy’s.” For the most part, people do their best to make the company successful. How many different interpretations of the vision are there? How many people work for you? In the LAPD, Bratton drove his vision through the management lines. He called it “no broken windows”. Beck and many others got that vision and changed the way LA was policed.
Beck says he’s the guy to bring the vision from management practice to the front lines. Mayor Villaraigosa agreed and chose Beck over some very fine LAPD senior staff. Beck’ sees his role as the translator. In the selection process, Beck raised the fear that the changes Bratton brought are tenuous or not in the hearts of the LAPD. Marketing experts would say that Beck differentiated himself from the other candidates by articulating a pain that he could uniquely solve. Beck can be the translator that will demand the behavior that over time will become “the practice”.
Every organization needs both vision and translation. Sometimes, the leader can speak the language of everyone from the senior staff to the front line worker. Not always. Be aware of what you do well and recruit good people to do the rest. If you are the visionary, find the translators in your organization and work with them to align your organization around your vision. If you are the translator, bring the team together to articulate the vision, so there is buy in and a clear direction understood by everyone. Stories and real world examples of successful behaviors will guide your organization when the vision seems vague or “nice to have.”
Note: If you want to know more about structuring communication between levels in organizations, Elliot Jacques’ work on how our time horizon indicates how high we can rise within an organization is really thought provoking analysis.
THThThe New Normal
This is the “New Normal”- What now?
Wall Street seems to believe that we have bottomed out.
Down on Main Street, we are working with reduced staff, reduced pay, and reduced profits- if there are profits. Down on Main Street, we don’t see hiring anyone back, or anyone new, for months. Down on Main Street, that sure doesn’t look like a recovery.
So, if this is it, this is where we are going to be hanging out for the next year, what do we have to do to get comfortable with NOW? What do we have to do to increase revenues, to keep staff motivated, to retain existing customers and get new ones?
We are almost at year end. Time to make a plan for success in 2010. Some people are going to figure out how to outperform the market in THIS market. Will you be one of them?