AT&T recently announced it would buy T-Mobile USA from Deutsche Telekom for $39 billion. If the deal goes through, AT&T would become the number one wireless company in the United States. The Wall Street Journal estimated that the combined entity would be about a third larger than the country’s current leader, Verizon Wireless, and would have more than twice the subscribers as Sprint Nextel.
This development has spurred many people into action. As lobbyists, politicos and shareholders are campaigning and debating, the Federal Communications Commission (which has the power to kick the deal to the curb) is wrestling with the issue of how to expand access to mobile broadband services while keeping competition healthy.
AT&T is doing what it can to ensure the merger passes. The company has a history of strong influence in legislative decisions, as the Wall Street Journal recently reported: “Since 1989 AT&T has been the top corporate donor to members of Congress, shelling out more than $46 million in campaign contributions to both Republicans and Democrats, according to the Center for Responsive Politics… Last year, the company spent $15.4 million on lobbying in Washington. It had 93 lobbyists working on its behalf, federal lobbying records show.”
In all of this jockeying to ensure the merger goes through, one core element that is rarely mentioned is the “people impact” – or what effect the merger will have on the employees within these companies. It’s challenging to undergo a transition and oftentimes the people impact is most overlooked. And still, people are resilient. As Jim Collins artfully stated, if you have the “right people on the bus,” they will ride the tidal waves of change with you.
Although this may be true, people don’t just spring back effortlessly from major changes. Many different kinds of people impacts should be considered when an organization goes through change, including: how will roles and responsibilities change, who will be in charge of what, how long will the change last, what is the roll out plan, how soon will employees feel the impact, which jobs will be lost, how will innovation be impacted, etc.
An article in The Journal of Business & Economics Research, entitled “Telecommunications Mega-Mergers: Impact On Employee Morale And Turnover Intention” (by Keisha Chambers, PhD, Capella University, USA and Andrew Honeycutt, DBA, Anaheim University, USA), states: “Only 30-40% of all mergers and acquisitions are successful..., The key element to the success of a merger or acquisition is often overlooked, that key element being, human capital.”
If you chart the annals of AT&T’s past, it becomes clear that the company does not have a shining record of restructurings. While AT&T still needs the FCC’s approval in order to carry out the merger, in order for the company to ensure the merger is successful, it must win the support of its people. On top of that, in order to fully integrate the two companies, AT&T must coordinate vision, mission, business units and strategies while harmonizing leadership and management styles and structures and cultures. If you thought mergers were only about money and gaining a competitive edge, think again.
A merger is a transition. In any transition, whether large or small, there are high-level, key steps that you must take to ensure that your strategic plan foremost considers your human capital:
1. Culture integration – Be mindful that there are two cultures being integrated into one. How far will you maintain or absorb the cultures of one or both companies? Which norms and values will be merged? How can you inspire unity with your new-found entity when one company is absorbed into another?
2. Culture patience - be willing to spend the time to create a new culture that utilizes the best of both companies.
3. Honesty is the best policy – be honest with all employees about the transition. People will be most concerned if they will still have a job.
4. Communicate, communicate, communicate – let employees know what is happening every step of the way and anticipate critical messages ahead of time.
5. Engagement – remember that transitions make it tough for employees to stay engaged. Not knowing what will happen next can create frustration and resentment. When there is a lack of positive morale, good people often leave the company. Consider innovative ways to continue to invigorate employees during these sensitive times.
6. Temporary systems – think about what temporary systems you can create to give employees a foundation that offers comfort when they feel lost and confused.
By creating strategies that consider how transitions impact the workforce, organizations can gain a competitive advantage. When cultures are integrated properly, the new organization may gain critical skills, which determine success in today’s competitive market. With that, good business is guaranteed.
Wednesday, March 23, 2011
Friday, February 11, 2011
Burning Building of Leadership
This week Nokia’s CEO Stephen Elop sent a sobering email to his employees about the state of Nokia’s business. The memo (http://blogs.wsj.com/tech-europe/2011/02/09/full-text-nokia-ceo-stephen-elops-burning-platform-memo/) has been widely published and quoted and is now renowned as the “Burning Platform” memo. In his opening, he shares the story of a man working on an oil platform in the North Sea who woke up to find his platform on fire. With seconds to react to save himself, he jumped 30 meters into freezing waters. Although in ordinary times no one would do such a crazy thing as jump into icy waters, however he was living in an inordinate time where his platform was on fire. Elop stated, “We too are standing on a ‘burning platform’, and must decide how we are going to change our behaviour.”
In reviewing the memo, yes it is a wake up call. Most employees don’t get in their inbox a big ol bell ringing loudly that says “we are on a burning platform, jump or die!” I’m all for honesty to employees. In fact we are in sore need of more of it. Honest dialogue would in itself be a wake up call. However positioning is key. You can say anything to anyone as long as you say it in a way people can hear it. At a time when the ship is sinking, people want reality, however they also want a dose of inspiration – not hype, inspiration. They want vision and leadership – someone who can show them that although we may be down, it’s going to take a lot to turn us around and I am asking for your support to do so.
Only the last few sentences of the memo asks employees to help change the sad state of affairs of Nokia. “The burning platform, upon which the man found himself, caused the man to shift his behaviour, and take a bold and brave step into an uncertain future. He was able to tell his story. Now, we have a great opportunity to do the same.”
Elop is on the right track – honesty is wonderful and enlightening, however if you are going to pour cold water on the troops, it’s great if you also give them a towel to dry off and inspire them to what’s next. Leadership skills include the frank words you say, and even more importantly, also includes building people’s confidence to provide a motivational environment so they seize hold of the opportunity in front of them and fly.
In reviewing the memo, yes it is a wake up call. Most employees don’t get in their inbox a big ol bell ringing loudly that says “we are on a burning platform, jump or die!” I’m all for honesty to employees. In fact we are in sore need of more of it. Honest dialogue would in itself be a wake up call. However positioning is key. You can say anything to anyone as long as you say it in a way people can hear it. At a time when the ship is sinking, people want reality, however they also want a dose of inspiration – not hype, inspiration. They want vision and leadership – someone who can show them that although we may be down, it’s going to take a lot to turn us around and I am asking for your support to do so.
Only the last few sentences of the memo asks employees to help change the sad state of affairs of Nokia. “The burning platform, upon which the man found himself, caused the man to shift his behaviour, and take a bold and brave step into an uncertain future. He was able to tell his story. Now, we have a great opportunity to do the same.”
Elop is on the right track – honesty is wonderful and enlightening, however if you are going to pour cold water on the troops, it’s great if you also give them a towel to dry off and inspire them to what’s next. Leadership skills include the frank words you say, and even more importantly, also includes building people’s confidence to provide a motivational environment so they seize hold of the opportunity in front of them and fly.
Wednesday, February 9, 2011
Bold Leadership - As Easy As Re-Engineering A Company
Risk and bold choices are what distinguishes a stellar leader from just a person in the crowd. The retailer Gap recently decided to shift management with the objective of reviving a renowned brand with lackluster sales. Perhaps an indication that Gap was in sore need of new management was the attempt to revitalize the logo with a "fresh" new look and appeal and then yanked the logo off of the market one week later. Kind of a now you see it and now you don't move.
Also what contributed to the switch in leadership were sobering statistics. According to Business Week, “It’s been six years since Gap North America has posted an annual increase in sales at stores open at least a year, a prime measure of a retailer's health. During December, the height of the holiday selling season, Gap North America same-store sales dropped 8 percent. That's in sharp contrast to the average 3.2 percent gain at all U.S. retailers. Sales at the U.S. unit are down almost a third from where they were in 2004.”
When putting new management in place, Gap took a different approach by putting unlikely candidates into the job. This is either a genius move or an egregious error which would clearly be more severe than pulling a logo.
Gap’s Chief Executive Officer Glenn K. Murphy appointed Art Peck to become the company’s new president. A recent Business Week article revealed how Peck, began his first blog post, “Who am I?...If you Google (GOOG) me, you won't find much…That’s right. I’m not a merchant." Gap hired a business guy. Peck has an MBA from Harvard, spent many years at the Boston Consulting Group and has been at the Gap since 2005 helping craft international strategy.
In addition to Peck’s unorthodox appointment on February 2, Murphy appointed Seth Farbman as a new head of marketing. Farbman was the worldwide managing director at advertising agency Ogilvy & Mather. Pam Wallack , another improbable executive candidate and virtually unknown within Gap, was promoted to run the new Global Creative Center. For first time the design, production, and marketing teams for the brand will be under one umbrella. Wallack was the creative director for Gap's kids and adult clothing at its San Francisco headquarters and is moving to New York to take on this post.
Peck says his first priority is "to understand what's keeping us from being more consistent. We have to put clothes in our stores that our customers emotionally connect to. That's … a statement of the profoundly obvious. If we don't do that, nothing else matters."
Yes, his words were obvious and refreshingly honest. Gap does not have time to waste considering the economy, competition and fickle consumer loyalty. Only time will tell how the executive suite shake up will have impact on bottom line sales. However Gap is taking a page from Rich Ross, Chairman of The Walt Disney Studios who also chose unorthodox moves to revitalize a slacking studio with a big brand.
When executives make bold moves and take large-scale risks, they demonstrate to employees to do the same. How many of you would line up to work for an organization that fosters attributes such as creativity, innovation and broad thinking? The Gap is accepting applications…
Also what contributed to the switch in leadership were sobering statistics. According to Business Week, “It’s been six years since Gap North America has posted an annual increase in sales at stores open at least a year, a prime measure of a retailer's health. During December, the height of the holiday selling season, Gap North America same-store sales dropped 8 percent. That's in sharp contrast to the average 3.2 percent gain at all U.S. retailers. Sales at the U.S. unit are down almost a third from where they were in 2004.”
When putting new management in place, Gap took a different approach by putting unlikely candidates into the job. This is either a genius move or an egregious error which would clearly be more severe than pulling a logo.
Gap’s Chief Executive Officer Glenn K. Murphy appointed Art Peck to become the company’s new president. A recent Business Week article revealed how Peck, began his first blog post, “Who am I?...If you Google (GOOG) me, you won't find much…That’s right. I’m not a merchant." Gap hired a business guy. Peck has an MBA from Harvard, spent many years at the Boston Consulting Group and has been at the Gap since 2005 helping craft international strategy.
In addition to Peck’s unorthodox appointment on February 2, Murphy appointed Seth Farbman as a new head of marketing. Farbman was the worldwide managing director at advertising agency Ogilvy & Mather. Pam Wallack , another improbable executive candidate and virtually unknown within Gap, was promoted to run the new Global Creative Center. For first time the design, production, and marketing teams for the brand will be under one umbrella. Wallack was the creative director for Gap's kids and adult clothing at its San Francisco headquarters and is moving to New York to take on this post.
Peck says his first priority is "to understand what's keeping us from being more consistent. We have to put clothes in our stores that our customers emotionally connect to. That's … a statement of the profoundly obvious. If we don't do that, nothing else matters."
Yes, his words were obvious and refreshingly honest. Gap does not have time to waste considering the economy, competition and fickle consumer loyalty. Only time will tell how the executive suite shake up will have impact on bottom line sales. However Gap is taking a page from Rich Ross, Chairman of The Walt Disney Studios who also chose unorthodox moves to revitalize a slacking studio with a big brand.
When executives make bold moves and take large-scale risks, they demonstrate to employees to do the same. How many of you would line up to work for an organization that fosters attributes such as creativity, innovation and broad thinking? The Gap is accepting applications…
Wednesday, February 2, 2011
Negotiating Your Yes
Cheryl Richardson, a renowned life coach, inspired the topic for this post. Recently, on her website, Cheryl wrote, "I quickly made a list of ten things to say yes to, ten things to say no to, and then things that contribute to a great life, overall" (http://www.cherylrichardson.com/newsletters/week-41-spontaneous-wisdom-101010-lists-that-make-life-better/). Her top ten list of tips to help you have a great life got me thinking...
It’s human nature to say ‘yes’ when you mean ‘no’ especially when saying ‘no’ would require a tough conversation. Unfortunately, conceding to unfavorable requests can create problems, putting you in a situation that requires you do something that you don’t want to do and, ultimately, is not good for you.
We rarely take time to create a list of our important workplace ‘no’s’ and ‘yes’s’. So, how do we know how to respond to others’ requests? ‘No’s’ should be given to those situations or circumstances that are not supportive for you or smart to do. The critical ‘yes’ should be reserved for situations that help to engender a positive working environment, create more value for your company and clients, bring increased profitability and productivity or simply give you more energy.
My experience in partnering with the best leaders within international media and entertainment organizations has led me to develop my own top twelve list of the best practices of when to say ‘yes’ and when to run for the hills:
Twelve things to say YES to:
1. Giving greater value to your organization
2. Getting to know what’s most important to your colleagues
3. Asking questions for understanding
4. Mentoring others
5. Connecting people
6. Building relationships instead of networks
7. Creating opportunities to learn
8. Knowing your audience before you communicate
9. Building and leveraging your brand
10. Taking breaks in the day
11. Developing your boss
12. Stepping up to opportunities that stretch you
Twelve things to say NO to:
1. Neglecting yourself and your people
2. Running on emergencies (yours and others)
3. Implementing change without a twelve-month communication strategy to generate employee buy in
4. Pushing yourself when you are exhausted
5. Launching into a tough conversation without preparation
6. Delaying swift action with a non-performer
7. Holding a meeting without preparation
8. Blaming and resenting others
9. Creating goals without an understanding of how they fit into the broader organizational actions, plans and priorities
10. Harboring negative thoughts
11. Refusing to ask for feedback
12. Delaying implementing a development plan that betters YOU
Create your own top ten lists and begin putting your words and intentions into action. These steps will give you more power to showcase your leadership and set you up for success!
It’s human nature to say ‘yes’ when you mean ‘no’ especially when saying ‘no’ would require a tough conversation. Unfortunately, conceding to unfavorable requests can create problems, putting you in a situation that requires you do something that you don’t want to do and, ultimately, is not good for you.
We rarely take time to create a list of our important workplace ‘no’s’ and ‘yes’s’. So, how do we know how to respond to others’ requests? ‘No’s’ should be given to those situations or circumstances that are not supportive for you or smart to do. The critical ‘yes’ should be reserved for situations that help to engender a positive working environment, create more value for your company and clients, bring increased profitability and productivity or simply give you more energy.
My experience in partnering with the best leaders within international media and entertainment organizations has led me to develop my own top twelve list of the best practices of when to say ‘yes’ and when to run for the hills:
Twelve things to say YES to:
1. Giving greater value to your organization
2. Getting to know what’s most important to your colleagues
3. Asking questions for understanding
4. Mentoring others
5. Connecting people
6. Building relationships instead of networks
7. Creating opportunities to learn
8. Knowing your audience before you communicate
9. Building and leveraging your brand
10. Taking breaks in the day
11. Developing your boss
12. Stepping up to opportunities that stretch you
Twelve things to say NO to:
1. Neglecting yourself and your people
2. Running on emergencies (yours and others)
3. Implementing change without a twelve-month communication strategy to generate employee buy in
4. Pushing yourself when you are exhausted
5. Launching into a tough conversation without preparation
6. Delaying swift action with a non-performer
7. Holding a meeting without preparation
8. Blaming and resenting others
9. Creating goals without an understanding of how they fit into the broader organizational actions, plans and priorities
10. Harboring negative thoughts
11. Refusing to ask for feedback
12. Delaying implementing a development plan that betters YOU
Create your own top ten lists and begin putting your words and intentions into action. These steps will give you more power to showcase your leadership and set you up for success!
Thursday, January 20, 2011
How to Instantly Influence
One of the key qualities of leadership is the ability to influence others with your words as well as your actions. It’s true that “actions speak louder than words,” however words are what triggers movement and momentum. Words are vital to mobilizing people and instilling confidence in them. How can you ensure your words have more meaning and power?
Below is a three-step formula you can use to become an influential communicator:
1) Know thyself
Do you get up every day, gaze at yourself in the mirror, grin and say, “good morning, fabulous!”? Whether or not you begin your morning with a shout out to your greatness, you should take time each day to refine your image and make an effort to get to know yourself. Learning what makes you tick is what will allow you to deepen your communication with others.
Each of us has particular behaviors and values that drive us. Learning what your behaviors and values are keys to powerful communication. Consider this…
Behavior = How you express your attitude
Values = What drives you
Behaviors + Values = Communicating with impact
Which behavior style do you exhibit? Are you more Assertive or Persuasive or Stable or Analytical? We all possess each of these styles, however we always lead with one. How do you know which one you favor? Think about how you behave when you get stressed. Understanding all the behavior styles and moving effectively between them will allow you to communicate more effectively with other people, by communicating from their perspective.
What are your top two values? Your top two values drive everything you do and must be present to ensure your happiness and productivity. Are you driven by the need for knowledge, return on investment, harmony and balance, power and control, giving back/volunteering/being of service or by a codebook of a systematic way of living?
If you have trouble identifying your behaviors and values, ask your Human Resource team to provide an assessment to help give you greater definition and understanding.
2) Know your value
Everyone can stand out. You already do, you just don’t know it yet. Starting right now, you must begin thinking of yourself as a walking brand. Your value extends beyond your job title, function or description. You are a brand, so you must sell yourself by showcasing your value to others.
If you look at the logos of Starbucks, Gap, Lakers and Hershey’s, their associated images and words will evoke in you a feeling or an emotion. It works the same for you - your brand is your name and image. If I called three of your colleagues and said your name, they would all have a picture in their mind of who you are and what you stand for. You are a walking brand. Most of us are clueless about how our brand appears to others. Why remain in the dark? Turn on the light and take a look at yourself!
3) Know your audience
Who are your internal and external customers? Who are the people you serve? In order to best serve her clients, my dear and trusted peer, Debra Valle, asks them to supply her with a list of information, including: age, education, title, department, location, challenge, life stage/style, hobbies and interests. Salespeople do the same because they are aware that the more you understand about your audience, the more you can tailor your “pitch.” The better you know your audience, the greater power you will have to build relatability and relationship.
Only when you know the people you serve can you begin to truly serve them. Once you know who you are and what your brand is you can serve your audience in a far more meaningful way.
How will you put this three-step formula to work for you this month? Practice, practice, practice. Consider the Los Angeles Lakers. The players practice basketball every week even though they already know how to play basketball. Why should professionals practice weekly? To improve their game and increase the chances of making winning plays when the pressure and stakes are high. Practice makes you more proficient. How can you practice being a proficient communicator?
Below is a three-step formula you can use to become an influential communicator:
1) Know thyself
Do you get up every day, gaze at yourself in the mirror, grin and say, “good morning, fabulous!”? Whether or not you begin your morning with a shout out to your greatness, you should take time each day to refine your image and make an effort to get to know yourself. Learning what makes you tick is what will allow you to deepen your communication with others.
Each of us has particular behaviors and values that drive us. Learning what your behaviors and values are keys to powerful communication. Consider this…
Behavior = How you express your attitude
Values = What drives you
Behaviors + Values = Communicating with impact
Which behavior style do you exhibit? Are you more Assertive or Persuasive or Stable or Analytical? We all possess each of these styles, however we always lead with one. How do you know which one you favor? Think about how you behave when you get stressed. Understanding all the behavior styles and moving effectively between them will allow you to communicate more effectively with other people, by communicating from their perspective.
What are your top two values? Your top two values drive everything you do and must be present to ensure your happiness and productivity. Are you driven by the need for knowledge, return on investment, harmony and balance, power and control, giving back/volunteering/being of service or by a codebook of a systematic way of living?
If you have trouble identifying your behaviors and values, ask your Human Resource team to provide an assessment to help give you greater definition and understanding.
2) Know your value
Everyone can stand out. You already do, you just don’t know it yet. Starting right now, you must begin thinking of yourself as a walking brand. Your value extends beyond your job title, function or description. You are a brand, so you must sell yourself by showcasing your value to others.
If you look at the logos of Starbucks, Gap, Lakers and Hershey’s, their associated images and words will evoke in you a feeling or an emotion. It works the same for you - your brand is your name and image. If I called three of your colleagues and said your name, they would all have a picture in their mind of who you are and what you stand for. You are a walking brand. Most of us are clueless about how our brand appears to others. Why remain in the dark? Turn on the light and take a look at yourself!
3) Know your audience
Who are your internal and external customers? Who are the people you serve? In order to best serve her clients, my dear and trusted peer, Debra Valle, asks them to supply her with a list of information, including: age, education, title, department, location, challenge, life stage/style, hobbies and interests. Salespeople do the same because they are aware that the more you understand about your audience, the more you can tailor your “pitch.” The better you know your audience, the greater power you will have to build relatability and relationship.
Only when you know the people you serve can you begin to truly serve them. Once you know who you are and what your brand is you can serve your audience in a far more meaningful way.
How will you put this three-step formula to work for you this month? Practice, practice, practice. Consider the Los Angeles Lakers. The players practice basketball every week even though they already know how to play basketball. Why should professionals practice weekly? To improve their game and increase the chances of making winning plays when the pressure and stakes are high. Practice makes you more proficient. How can you practice being a proficient communicator?
Thursday, November 11, 2010
Innovation from the Experts
I love INC Magazine. The articles they feature are right on target and thought provoking. Most of all, you actually want to read the articles and not just scan briefly through them. John Warrillow, an angel investor in a number of start-up companies wrote an article recently about getting inspiration from great innovators of our time.
If you are stuck and seeking to find answers just ask yourself...what would Richard Branson do? What would Steve Jobs do? The theory is by putting yourself in the mindset of renowned innovators, you will begin thinking like one. A small Finnish company called Pomarfin put themselves in the space of wild innovation. They were manufacturing shoes in Estonia to lower costs, however they were competing with companies in Asia who would manufacture the shoes at a much lower cost. What's a family owned business to do? Expand their innovation quotient.
Clearly Pomarfin could do what many companies have done in recent years, manufacture overseas for much less cost or look for another way to keep their production in Europe. Pomarfin's decision speaks to the essence of a risk taking innovator - they decided to niche aggressively by selling a new product with a new target...made-to-measure shoes for high net worth men who hate shopping.
This new brand entitled "LeftFoot" was a clever idea from Pomarfin. They thought they would install a foot scanner in all retail stores that sold its shoes. Easy...a well to do man comes knocking, the retail clerk scans the man's left foot with a LeftFoot machine, the image uploads to a server in Pomarfin's manufacturing plant that would create and ship these unique pair of shoes customized to the man's feet. When he wanted to order another, all he would do is go online. Easy! Not so much...
Pomarfin needed retailers who would want to install a scanner in their stores and scan customer's feet. May not be the most pleasant experience for a retail clerk, however the idea is worse for the retailer who would lose the customer to an online store.
LeftFoot started building their own retail stores and still needed traditional retailers to fully cover the market. As my dear mentor always tells me...you know you will be successful because others before have done it and can light the way. LeftFoot only had to look no further than to the music and publishing business for a model. They would pay a royalty for life fee for every new pair of LeftFoot shoes a customer purchased when referred by the retailer.
Can you imagine if all you had to do was take one action and then you would get paid for life with no effort? That's how the retailer's looked at the offer. The retailer referred the customer, got payments for life and didn't even need to stock inventory or pay for more support staff. Retailers signed on without hesitation. Now LeftFoot has retailers set up throughout most of Europe and Asia.
Very innovative, yes? They key to LeftFoot's success was their willingness to be highly innovative and to think differently about their delivery and customers.
Thinking differently is an easy phrase to say and more challenging to do. And still...is it better to sit idle, or to model those who have come before us - the great innovators - who look at a challenge as simply another opportunity. Where can you think differently? Where is your opportunity to pioneer, to innovate and to become the next Bill Gates of our time?
If you are stuck and seeking to find answers just ask yourself...what would Richard Branson do? What would Steve Jobs do? The theory is by putting yourself in the mindset of renowned innovators, you will begin thinking like one. A small Finnish company called Pomarfin put themselves in the space of wild innovation. They were manufacturing shoes in Estonia to lower costs, however they were competing with companies in Asia who would manufacture the shoes at a much lower cost. What's a family owned business to do? Expand their innovation quotient.
Clearly Pomarfin could do what many companies have done in recent years, manufacture overseas for much less cost or look for another way to keep their production in Europe. Pomarfin's decision speaks to the essence of a risk taking innovator - they decided to niche aggressively by selling a new product with a new target...made-to-measure shoes for high net worth men who hate shopping.
This new brand entitled "LeftFoot" was a clever idea from Pomarfin. They thought they would install a foot scanner in all retail stores that sold its shoes. Easy...a well to do man comes knocking, the retail clerk scans the man's left foot with a LeftFoot machine, the image uploads to a server in Pomarfin's manufacturing plant that would create and ship these unique pair of shoes customized to the man's feet. When he wanted to order another, all he would do is go online. Easy! Not so much...
Pomarfin needed retailers who would want to install a scanner in their stores and scan customer's feet. May not be the most pleasant experience for a retail clerk, however the idea is worse for the retailer who would lose the customer to an online store.
LeftFoot started building their own retail stores and still needed traditional retailers to fully cover the market. As my dear mentor always tells me...you know you will be successful because others before have done it and can light the way. LeftFoot only had to look no further than to the music and publishing business for a model. They would pay a royalty for life fee for every new pair of LeftFoot shoes a customer purchased when referred by the retailer.
Can you imagine if all you had to do was take one action and then you would get paid for life with no effort? That's how the retailer's looked at the offer. The retailer referred the customer, got payments for life and didn't even need to stock inventory or pay for more support staff. Retailers signed on without hesitation. Now LeftFoot has retailers set up throughout most of Europe and Asia.
Very innovative, yes? They key to LeftFoot's success was their willingness to be highly innovative and to think differently about their delivery and customers.
Thinking differently is an easy phrase to say and more challenging to do. And still...is it better to sit idle, or to model those who have come before us - the great innovators - who look at a challenge as simply another opportunity. Where can you think differently? Where is your opportunity to pioneer, to innovate and to become the next Bill Gates of our time?
Tuesday, October 19, 2010
A Life Preserver When Work Piles Up
While at a charity dinner last week, I heard several executives discussing how one of the greatest opportunities they face today is managing getting things done. As work piles up, expectations grow despite the decline in available resources. It’s a tough situation with no clear solution. One executive illustrated the dilemma well, telling how when he went to his boss to get help, his boss simply replied, “Get it done.”
Hmmm…. Is this kind of response helpful? Not really. Although we accept the reality of budget cuts, we don’t adjust our expectations accordingly. Instead, demands continue to soar and expectations to meet and exceed organizational goals continue to exist. Bottom line, what do you do in such a situation?
The book “Execution: The Art of Getting Things Done” by Larry Bossidy and Ram Charan helps to provide some insight. Although not a new book, the text is still highly relevant and something that should be required reading for every leader who wants to get things done.
The authors explain how to “get it done” by describing execution as a “systematic process of rigorously discussing hows and whats, questioning, tenaciously following through, and ensuring accountability. It includes making assumptions about the business environment, assessing the organization’s capabilities, linking strategy to operations and the people who are going to implement the strategy, synchronizing those people and their various disciplines, and linking rewards to outcomes.”
I define execution as “getting things done, systematically and with swift action with people.” The key words here are swift and with people. Getting things done is not simply about speed; it’s first and foremost about leveraging your people and including them in the process thoughtfully. After all, they are the ones who will need to execute your plan. Ultimately, execution is about a new way of thinking and acting, which can be accomplished by the following:
1. Connect what is most meaningful to organizational priorities – not everything is important. You must figure out what is and what isn’t. Avoid the tendency to make every new thing the emergency of the day and leave the really important things to the last minute. Plan it, prioritize it and then act on it.
2. Toss out the lingo – jargon gets in the way of getting things done. Every organization has its own unique style of language, and not everyone speaks this unique slang. For example, I had a client who didn’t understand what the words “big picture” meant because everyone around him used the phrase differently. You’ll save time by making sure you define everything clearly and universally from the start.
3. Right people in the right jobs rely on your right words and right actions – it’s not enough to have the right people doing the right jobs. It is your responsibility to align what you say with what you do. It’s challenging to believe someone who does not align their words with their actions.
4. Responsibility first, blame last – take responsibility for everything -- period. Doing so will make you a better leader and, more importantly, a better human being.
5. Advocate, pursue and mobilize change – change can be a dreaded term because people don’t like when the boat is rocked. Go ahead and shake it! The more dynamic the workspace, the more the organization can grow. Stagnancy only hinders the growth and output of people and the organization.
6. Impeccable coordination – as Fred Kofman notes in his book “Conscious Business”, coordinating well and with those inside and outside the company will define you as a leader. The better you coordinate, the stronger your rise to the top in your career will be and the more sound your organization’s output will be.
7. Act quickly with those who don’t perform – not everyone is competent enough to be in their current positions. Although it’s good to offer people opportunities and coaching, if someone is not performing, you must move them out and do so quickly. If you don’t move fast, you only hurt you, your employee and the organization. And if you are afraid to hurt your employee, remember a job someone can thrive in is better than one to just survive in.
8. Link strategy, people and operations – as Charan and Bossidy state eloquently in their book, you cannot have a thriving organization without these three things being critically tied together. Each one functions with the others. Focus on all three with equal measure.
A final thought -- you probably put a lot of time and energy into developing your strategy and operations, and that doesn’t mean that you are putting the same effort into developing your people. Your people are your greatest asset. Unless you leverage, nurture and care for them deeply, with responsibility and accountability, you may lose your strongest competitive leverage point.
Hmmm…. Is this kind of response helpful? Not really. Although we accept the reality of budget cuts, we don’t adjust our expectations accordingly. Instead, demands continue to soar and expectations to meet and exceed organizational goals continue to exist. Bottom line, what do you do in such a situation?
The book “Execution: The Art of Getting Things Done” by Larry Bossidy and Ram Charan helps to provide some insight. Although not a new book, the text is still highly relevant and something that should be required reading for every leader who wants to get things done.
The authors explain how to “get it done” by describing execution as a “systematic process of rigorously discussing hows and whats, questioning, tenaciously following through, and ensuring accountability. It includes making assumptions about the business environment, assessing the organization’s capabilities, linking strategy to operations and the people who are going to implement the strategy, synchronizing those people and their various disciplines, and linking rewards to outcomes.”
I define execution as “getting things done, systematically and with swift action with people.” The key words here are swift and with people. Getting things done is not simply about speed; it’s first and foremost about leveraging your people and including them in the process thoughtfully. After all, they are the ones who will need to execute your plan. Ultimately, execution is about a new way of thinking and acting, which can be accomplished by the following:
1. Connect what is most meaningful to organizational priorities – not everything is important. You must figure out what is and what isn’t. Avoid the tendency to make every new thing the emergency of the day and leave the really important things to the last minute. Plan it, prioritize it and then act on it.
2. Toss out the lingo – jargon gets in the way of getting things done. Every organization has its own unique style of language, and not everyone speaks this unique slang. For example, I had a client who didn’t understand what the words “big picture” meant because everyone around him used the phrase differently. You’ll save time by making sure you define everything clearly and universally from the start.
3. Right people in the right jobs rely on your right words and right actions – it’s not enough to have the right people doing the right jobs. It is your responsibility to align what you say with what you do. It’s challenging to believe someone who does not align their words with their actions.
4. Responsibility first, blame last – take responsibility for everything -- period. Doing so will make you a better leader and, more importantly, a better human being.
5. Advocate, pursue and mobilize change – change can be a dreaded term because people don’t like when the boat is rocked. Go ahead and shake it! The more dynamic the workspace, the more the organization can grow. Stagnancy only hinders the growth and output of people and the organization.
6. Impeccable coordination – as Fred Kofman notes in his book “Conscious Business”, coordinating well and with those inside and outside the company will define you as a leader. The better you coordinate, the stronger your rise to the top in your career will be and the more sound your organization’s output will be.
7. Act quickly with those who don’t perform – not everyone is competent enough to be in their current positions. Although it’s good to offer people opportunities and coaching, if someone is not performing, you must move them out and do so quickly. If you don’t move fast, you only hurt you, your employee and the organization. And if you are afraid to hurt your employee, remember a job someone can thrive in is better than one to just survive in.
8. Link strategy, people and operations – as Charan and Bossidy state eloquently in their book, you cannot have a thriving organization without these three things being critically tied together. Each one functions with the others. Focus on all three with equal measure.
A final thought -- you probably put a lot of time and energy into developing your strategy and operations, and that doesn’t mean that you are putting the same effort into developing your people. Your people are your greatest asset. Unless you leverage, nurture and care for them deeply, with responsibility and accountability, you may lose your strongest competitive leverage point.
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