Archive for the ‘In 100 Words’ Category

In 100 Words: Difference Between Purpose & Value Proposition

Tuesday, January 31st, 2012 by AdvisorCatalyst

Purpose and value proposition are not the same thing.  Purpose is primarily an internal message that aligns employees; value proposition is an external message that tells customers how you will meet their needs.

Customers may admire your purpose, but they buy your value proposition based on how it meets their needs.  For example, I personally admire Southwest Airlines as an organization, but I typically fly with another airline that better meets my particular business travel needs (even though I have far less admiration for their company).

Let your purpose drive you, but let your customers’ needs drive your value proposition.

“A lot of companies have chosen to downsize, and maybe that was the right thing for them.  We chose a different path.  Our belief was that if we kept putting great products in front of customers, they would continue to open their wallets.”  (Steve Jobs)

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In 100 Words: Crisis Mode

Thursday, December 15th, 2011 by AdvisorCatalyst

Thus, some leaders deliberately create crises in their organizations.  This can be productive, but beware: you can only do it so often.  The intensity of a crisis demands a lot of energy.  People have physical, mental, and psychological limitations.  Too many crises can run the risk of burning out employees and quickly diminishing the benefits of this tactic.  People eventually get numb to danger.

Crisis mode can be powerful, but choose your spots.

“Leadership is the art of getting someone else to do something you want done because he wants to do it.”  (Dwight D. Eisenhower)

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Increasing Knowledge Retention

Thursday, September 15th, 2011 by AdvisorCatalyst

I love to learn; thus, I love to read. But when scanning a previously read book, I’m often surprised at how little of it I remember. I forget far more than I retain.

Perhaps we would all do well to re-read our old books rather than buy new ones. Reinforcing good thinking and disciplines is important to sustaining performance. Don’t let new packaging fool you into thinking there is much new wisdom out there. Most “new” material is simply old knowledge presented with different labels and examples.  

Choose a classic, and read it again as if it’s the first time.  

“Men more frequently require to be reminded than informed.”  (Samuel Johnson)

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In 100 Words: Two Perils of Success

Friday, August 5th, 2011 by AdvisorCatalyst

Success can lead to either overcautiousness or overconfidence.  Both are dangerous. 

Overcautiousness results in paranoia.  To avoid messing anything up, one chooses to ride the current wave of success.  Unfortunately, when the wave inevitably crests, he crashes with it.  Overconfidence results in blindness.  When an organization tries to succeed too quickly, it may be overcome by challenges larger than it can handle.  

Beware each of these perils.  Those tempted to sit still must find the courage to act!  Those tempted to ignore their weaknesses must face reality.  It’s not action, but action that separates the best from the rest.

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In 100 Words: Press the Initiative

Thursday, June 23rd, 2011 by AdvisorCatalyst

World chess champion Garry Kasparov attacks in two ways: “direct assault” and “creating and maintaining the initiative.” The latter is preemptive, methodically putting the player in a position of leadership and control.

Many market leaders, including Boeing, Google, and Apple’s iPod, were not the pioneers of their industry. They simply outperformed the pioneers by pressing the initiative – continually improving, investing in people and research, and developing strong organizational vision. Meanwhile, the pioneers lost an opportunity, not because they started badly, but because they stopped pressing.

How is your organization’s discipline in strategy execution? Create the initiative, and then keep pressing.

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In 100 Words: Finding Passion in Your Work

Monday, May 2nd, 2011 by AdvisorCatalyst

Do you dream of doing work that you’re really passionate about? Perhaps the fastest way to realize that goal is to find passion in your current work.

Former Vitra CEO and current Board Chairman Rolf Fehlbaum: “I couldn’t have cared less about chairs, but once I started to get involved, I had the urge to get at the subject in the deepest possible way. I wasn’t born loving chairs; I learned to love them.”

Whatever work you do, dig in. The more you engage, the more passionate you will become. Such passion is a key ingredient of excellence…and fun.

“The [person] who does not work for the love of work but only for the money is not likely to make money nor find much fun in life.” (Charles M. Schwab)

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In 100 Words: Time to Reflect

Wednesday, December 15th, 2010 by AdvisorCatalyst

The end of the year is a natural time to pause and reflect – both as individuals and as organizations. Yet, many don’t take full advantage of the opportunity.

Reflection is slightly different than real-time course correction; it’s a conscious effort to identify the gaps between plans and reality. Did you meet your goals? If not, why not? What factors define your current environment? Which of your assumptions are no longer valid? What do you need to do differently?

Give yourself a dose of reality and let it drive your actions in the coming year…until it’s time to reflect again.

“However beautiful the strategy, you should occasionally look at the results.”
(Winston Churchill)

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In 100 Words: Strategic Retreat? More Like Strategic Advance.

Monday, November 1st, 2010 by AdvisorCatalyst

This is the time for annual planning sessions, and many business leaders are pulling their teams together for a strategic retreat. But why do we call it a retreat? Retreat is a negative word synonymous with withdraw, relinquish, and concede. Is that your frame of mind as your organization plans the coming year? I don’t think so.

Forget the retreat. Lead your organization on a strategic advance. Plan how to advance your purpose and achieve your goals. Assess your current position, identify the target, and push forward. That’s what you really hope to do, so call it what it is.

“There are risks and costs to a program of action. But they are far less than the long-range risks and costs of comfortable inaction.” (John F. Kennedy)

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In 100 Words: Don’t Buy Answers. Build Disciplines.

Friday, September 17th, 2010 by AdvisorCatalyst

During times of significant change, leaders are often tempted to “buy answers.” It’s the search for the proverbial “silver bullet.”

Resist this temptation. Don’t outsource your thinking to someone else. You know your organization and industry better than any outsider, so you probably already know what you need to do. Instead, invest in building the right disciplines. It might seem more difficult at first, but in the long run, you will reap the rewards of an organization that systematically generates its own solutions.

Silver bullets don’t exist. The best long-term investment of your resources is in building the right disciplines.

“There are no easy answers, but there are simple answers.” (Ronald Reagan )

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In 100 Words: Inviting Dissent

Friday, August 20th, 2010 by AdvisorCatalyst

According to Winston Churchill, “Criticism may not be agreeable, but it is necessary. It fulfills the same function as pain in the human body. It calls attention to an unhealthy state of things.”

The natural response to criticism is to fight back. The effective response is to pause and consider. You are not always right; don’t you want to know when you’re wrong so you can correct your course?

Disagreement is good. Discipline yourself and your team to invite criticism and respond productively.

Choose to pursue the truth rather than defend your turf. As with any discipline, it takes practice.

“The effective decision-maker, therefore, organizes disagreement.” (Peter F. Drucker)

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