planning

Creating Value: Leadership v Stewardship

Okay, let's get the blah blah blah stuff out of the way first.

You not only want to be a leader, you're convinced that you are a leader.

Good for you. You're a leader.

The question is: When it comes to creating the highest levels of value for yourself and your organization, is being a "leader" the right thing to be? Or is there something better?

There is. It's being a Steward of the present and future of your organization.

Yes, I admit, calling yourself a "Steward" isn't anywhere near as sexy sounding as calling yourself a "leader." Nor, for the most part, do people in organizations recognize what a Steward is or does.

Here's the difference:

Leaders do things for show. Stewards lead by doing the right thing.

My friend, Peter Wynne Rees, the Planning Officer for the City of London, explained it to me years ago when he described his role as a Steward overseeing the present and future of the Square Mile.

As he told me, the City of London existed for over 2000 years before he got there. His job was to make sure that he did everything he could - every day in every decision - to ensure its safety and success for the next 2000 years.

As a result, if you Google Peter's name, you'll see that he's considered worldwide a - if not the - leader in City Planning, Development and Redevelopment.

Ask him and he'll tell you: He's a Steward.

Here's what this means for you:
  • Stop sweating being called a "leader" and begin determining the real and ongoing needs of your organization
  • Begin - now - viewing your organization in timeless terms: it existed yesterday (or 2 or 20 or 200 years ago) and it will exist tomorrow
  • Think of the decisions you're making and put them into that timeless timespan - then reconsider whether they are the right decisions for all the tomorrows it's your responsibility to ensure occur
  • Treat your stewardship as a stealth strategy. Don't talk about it...unless you're asked. (Peter only told me his philosophy when I asked him a question that led, over more questions, to that answer.)
  • Do the right thing. Not just for you but, every day in every decision, for your organization and its future.
Because that's the thing about leadership versus stewardship. It's not about you and your success. It's about the success you create for others - and, as a result, achieve.

Secrets of Success: Calling It Quits

Jonathan Wright, our Leadership Quantified Expert in Business Development, takes a look at a subject near and dear to my heart: knowing when to cut your losses, make something that isn't working stop and move on to new successes. I've written about it before - and you've been great about commenting. Do the same for Jonathan. Even better, do what you need to do - with Jonathan's help.
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When I first started writing what is now this post about calling it quits, I had intended it to be a Leadership Quantified Working Paper providing guidance to you on knowing when to pull the plug on a Marketing or Social Media Campaign. (I'll be writing about that too, but first this.) Due to circumstances, I decided to generalize the topic for any situation - professional or personal.

What were those circumstances? I fired an employee.

It turns out that managing staff is very much like managing a business plan - because the steps are surprisingly similar.

Let me summarize the situation - or at least my actions leading up to the firing:
  • I Coached and coaxed...
  • Met this employee in the middle (or tried)...
  • Reviewed what previous managers had done and how that had worked...
  • Took into consideration personal issues I knew existed that I assumed were part of the situation I was dealing with... 
  • Set myself outside my feelings and looked at the situation without emotion and, finally, 
  • Realized that sometimes you just cannot turn someone around. 
It's the same with a marketing or social media or sales plan. Sometimes you have to trash it all and move on.

I hate to admit that I failed. We all do. But to succeed you need two or more willing participants. If one of those participants is disengaged, you have no hope of winning.

Accept it and don't waste any more time or resources.

But how do you know when that time has arrived? We've all heard the Perseverance speech, the Never Give Up speech and the Try One More Time Even When You Just Can't speech. Yeah, I tried all those approaches and still...nothing.

I'm an eternal optimist - almost annoyingly so. I want so badly to make my plan work that I'm willing to push and push to get it accomplished. That's admirable to a point - until it's not and not taking the necessary steps becomes the problem. Yes, you, yourself,  become the problem - because you're not taking the actions necessary.

So, let's take a look at the three steps you need to take to know when to call it quits - whether you're dealing with a staff member or a plan (business, marketing or sales):

1. Review the Situation as It Currently Stands
  • Review the plan as strategized (Note: Every plan must have a timeline to measure against effectiveness)
  • Review the steps taken to implement and look for missed opportunities
2. If Missed Opportunities are Identified
  • Try those options/opportunities with a strict timeline
  • Review to see if the new options/opportunities had any impact
If Yes: Continue on that path
If No: Move to the next step
3. Do One Final Push to Succeed
  • Set a short timeline - no longer than one month 
  • At the end of that time period, review to see if any significant changes have occurred to the positive
If Yes: Revise the plan to adjust and adapt those positive outcomes for growth and expansion and continue
If No: Set a date - no longer than two weeks -  to pull the plug and implement a new plan.
Thanks to the internet, life moves at light speed - both personal and professional. Technology has given us the tools to track, monitor and measure every campaign, decision and post.

That makes wasting precious resources irresponsible - most importantly, time. At the end of the day, you're not helping yourself, your company or your plan.

There are clearly visible warning signs your plan might be failing, such as:
  • No changes in behavior or sales or marketing goals (i.e. 'Likes' on your Facebook page)
  • No willingness to take new direction
  • No willingness to engage in communications that the plan is failing
  • No metrics to measure success or failure
  • No timelines attached to milestones
  • No way to quantify engagement
  • No excitement over the plan or daily activities to execute the plan.
Sometimes a simple, small change in approach or messaging can make all the difference between success and failure. But without a mechanism built into your plan to measure those changes and a benchmark to say This is Success, how will you know if you're succeeding?

In my consulting practice, I'm profoundly confused by some executives' and business owners' refusals to set metrics for success along the way. They're "afraid" to set those milestones because they're afraid of this "new idea" or unsure "how to implement new media." Some flat out don't want to be able to label an effort a success or failure because they see that as a projection of their success or failure.

Not one of those excuses is a reason not to put appropriate measures into place.

Even freshman business students know that there's no "100% Success" plan. One product may have success and another similar product may try exactly the same plan and fail miserably. Hundreds of small details go into the formula and they determine success or failure. Some of them are concrete, but, often, they're gauzy intangibles like "tone" or "response time" or "personality" that there's no definable label for - but can make or break a campaign.

Ultimately the formula is the same no matter the situation:
  1. Make the plan then be willing to follow it. 
  2. If it's not working...take a deep breath and pull the plug. 
  3. After a brief mourning period - no more than a day - begin strategizing a new plan.
What you will find, much to your surprise, is a renewed energy around the situation and that, by knowing what didn't work, you and your team can concentrate on what did and how to build on that in new directions.
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The Secrets of Success: Managed Expansion

It may seem counterintuitive to be thinking about expansion while the global economy is still trying to figure out which direction it will go and how fast it will get there. It's not. In fact, this is the best time to be thinking about all things growth.

That way, you can build your success before you begin using what I call Managed Expansion.

The easiest way to understand it is by understanding what it isn't - and that's its opposite: Reactive Expansion. So we'll start there.

Reactive Expansion is when...suddenly there's lots of money. Suddenly there's lots of opportunity. Everybody is buying. Everything it's growing. It's an up-cycle! It's time to expand!

Well, yes and no - and that's where Managed Expansion comes in.

It's time to expand - but only if you've got robust and well-thought out plans in place for exactly how, when, how fast, in what ways and into which markets you want to expand. Specifically, plans that you've been working on throughout the down-cycle to be ready for just this moment.

Sure, there'll be adjustments in the plans as the landscape becomes more clear. But if you've been consistently working on your expansion plans as a regular part of your job (which it is), then you'll have already seen those opportunities and be ready to move.

In contrast - and what we see far too often - is the Reactive Expansion that companies take on...and then have to reverse.

Think Starbucks. You'll recall that they are one of my examples of "Cheerful Ruthlessness." Well, they're also a perfect example of Reactive Expansion - which they may be repeating but in a different way.

Here's how it works:

A number of years ago, someone in the executive ranks decided that there should be a Starbucks coffee shop on every corner - or nearly. Rather than following what had been lauded as one of the finest location determination systems in the world, they just grew. And grew. And grew.

It just so happened that they were opening all those locations during an up-cycle. Everybody wanted coffee - and, according to this logic, they wanted it absolutely everyplace they went, every day, all the time.

That was all well and good until the down-cycle started and people weren't sure they wanted to shell out a few bucks a cup every time they needed a caffeine fix.

Change of management, change of plan. Now it was time to shut down all those excess locations and for the company and its shareholders to take the hit financially - as well as hitting all their employees with unemployment simply because management made bad decisions.

It was sort of a coffee version of the dot-com boom and bust - all in one company.

Interestingly, Starbucks may be running the same risks but in a different segment of its market: the Keurig/Nespresso world.

Individual, made-to-order, customized coffee-makers for the home are just the thing in the market. Especially as a holiday gift...or so the advertising would lead you to believe.

Only, in this case, Starbucks is venturing into a market that has ongoing high costs - from manufacturing and inventory to shelf-space in its shops - and, contrary to what the thinking may be in the company, does not guarantee a captive, returning audience.

That's because - unlike equipment ranging from inkjet or laser printers and their cartridges to the Amazon Kindle and its in-bred ecosystem of sales - customers don't have to go back to Starbucks for the ongoing, high-profit coffee tubs. They can buy other brands - because everybody's already on this particular wagon - or they can purchase a reusable, washable 'k-cup' from a cheap and cheerful television advertisement.

Starbucks isn't being a leader. It's being a follower - but on a very big scale - which is a Reactive Expansion strategy that is particularly dangerous.

It will be interesting to see whether the company wins, takes a hit on this or keeps its product in play as an also-ran in the individualized coffee field. But that's on them.

For you, the lessons are there to be learned.

Opportunities are always presenting themselves. Some of them make sense for you. Others don't. It's your responsibility - and should be your passion - to consistently be looking for the windows that have yet to open and figure out how you and your organization will be the ones to open them.

The best opportunities are the ones you identify where you will be the go-to resource - product or service - for that particular offering. And that's what you're planning for: a Managed Expansion that builds on what you do best and expands upon it in such a way that existing and new customers are happy to find you doing what you do.

Just don't do it faster than you can manage or put too much time, energy and cash into a high-risk venture that may or may not work out.

Take risks using a Managed Expansion plan by:
  1. Building on what your organization does best
  2. Expanding that definition by bringing even more and better of what you do to the market
  3. Focusing on innovation in existing products and services as well as new ones
  4. Studying what best of breed organizations in other industries are doing
  5. Identifying how those product and service innovations can be adapted to bring further success to your enterprise
  6. Managing your expansion so that you're ready for "+1"...ensuring exquisite, seamless execution.
By taking these steps, you've designed your expansion to succeed - long before it has even begun.
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The Secrets to Success: Cheerful Ruthlessness (ctg)
The Secrets to Success: +1 (ctg)

The Secrets of Success: +1

Ask any of my executive clients over the years and they'll tell you how I harangued them not about the projects they were working on, but what they were going to do immediately and on an ongoing basis after the projects were finished.

I call it +1.

1 minute. 1 day. 1 month. 1 year.

It's all about +1.

It doesn't matter what the project is. New product. New service. Improvement of internal operations. Expansion into new markets. Merger or acquisition.

It isn't about getting the project itself done. That's the easy part - because that's the part that everyone is focusing on.

It's that, too often, in doing the project we forget that there's something that has to happen afterward.

Because real success is all about how you make what you've achieved work over the long term.  Sure, you make immediate decisions and things move fast. But business is a long term proposition. At least it is if you want to succeed.

If you're in business you're always playing a long game.

So, what's the secret? Treat it like a mathematical equation that's applied to everything you do. It looks like this:

P + 1 = S

Where P is your Project, +1 is what you do after and S is your success.

Define each one. Know the exact components of:
  • What it takes to achieve the immediate goal (P)
  • What the specific, step-wise operational and tactical requirements are to ensure seamless execution from the first moment and on an ongoing basis after the "goal" is reached (+1)
  • The revenues, profits, markets, morale, partnerships, development, innovation and any other components you will monitor and measure (S).
By integrating +1 into your business planning, you're able to: 
  1. Build and monitor your future success in every phase of your project planning and execution, and
  2. Adjust, in real time at every step, if you're not seeing the results you want or expected.
Most important of all, by using +1, you'll identify the bridges and obstacles to success that exist and are operational in your organization every day. Then, when you decide on your next project, immediate and long-term success will be even easier to achieve - and maintain - than before.