“It worked really well, until it didn’t”
Thu, Mar 9, 2023 |
Over dinner with Ted, the retired founder/CEO of a successful company in the electric power sector, I heard an interesting story with a widely applicable lesson.
Navigating Growth During the Economic Sugar Crash
Thu, Aug 4, 2022 — Everyone “knows” we’re in a recession except the economists. We feel the pain of collapsed 401k's, higher fuel and food prices, so isn’t that enough to declare a recession? And shouldn’t my business be hunkering down to ride this out? In today’s chaotic economy, we are more likely to react to news headlines and stock market trends than market insight. We might completely abandon a core strategy, or delay critical execution tactics, based on the sick feeling in our guts. One way to solve this is by tapping the reliable data and forecasts published by ITR Economics.
What Tech CEOs Get Wrong About Positioning
Thu, Jul 28, 2022 — If you are a CEO that is lamenting slowing sales and lagging growth at your company, it’s tempting to place the blame directly at the feet of the sales team – those well-intentioned front-line soldiers who are responsible to turn your solutions into the bucks that feed the company growth. Indeed, most CEO’s I talk to feel this way – when product and market fit is not happening with enough velocity, or visions of declaring leadership in their market are unrealized, the obstacle standing in the way is always sales.
Relighting Your Economic Engine: How a Blue Ocean Strategy of Innovation Can Get You Back on Track
Thu, Sep 10, 2020 — As America’s economic engine continues its recovery from its pandemic-imposed slumber, businesses must adjust to a new way of selling in the “next normal.” This means, unfortunately, that all of the work and planning you previously put into your go-to-market strategy, and 2020 business plan, needs to be revisited – and revised – on the fly. Though some of your original insights may be salvageable, it is likely that the changed world means big changes for what you offer, how you offer it – and whether the market will respond.
Food for Thought: 5 Ways to Dial Up your Sales Approach
Mon, Oct 28, 2019 — There was a time when the most effective business-to-business sales tools were the fork and knife. It almost seems quaint to recall those days when the power of the relationship – and a juicy steak – were all that was needed to land or renew an even juicier piece of business. Today, the relationship has been relegated to appetizer status – giving way to a buffet of product details and benefits that can make the difference between sales satisfaction, or heartburn. I was thinking about this lately during a chat with a mid-cap CEO, whose company enjoyed dependable, steady growth over the years. His “secret weapon” was a long-time sales leader who “knew everybody.” But then the sales leader retired and guess what? Business flattened. What happened? Their company depended too long on relationship selling alone.
2019 Top Internet Trends and How They Impact Your Business
Tue, Jun 25, 2019 — For at least the past decade, developments in digital marketing – and technology in general – have served to disrupt virtually every industry. Whether you manufacture a product or deliver a service, your business undoubtedly has been roiled by digital developments, and their impact on the expectations – and buying behavior – of your customer base. Keeping apace with forthcoming developments can help any business better prepare for what’s to come – altering practices to successfully navigate this digital-first world.
Moving to a Blue Ocean With Growth Gears: Five Steps to Chart a Course for Success
Thu, Jun 20, 2019 — Whether you are a seafaring sort or not, it’s fairly intuitive to expect that a peaceful, sparkling, blue ocean is much more navigable than one roiled by rolling tides, scary sea vermin and dangerous storms. This relatable parable constitutes the foundation of “Blue Ocean Shift: Beyond Competing - Proven Steps to Inspire Confidence and Seize New Growth,” a book by W. Chan Kim & Renée Mauborgne which provides a series of waypoints by which to guide businesses into calmer seas. I recently successfully led a client through the Blue Ocean Shift process prescribed by Kim and Mauborgne, and realized how well the lessons align with similar ones espoused in “The Growth Gears,” a book authored by my Chief Outsiders colleagues Art Saxby and Pete Hayes. “The Growth Gears” does a terrific job of building a process around how to go from random acts of marketing, to a purpose-based method of marketing an organization, by following three pillars—Insights, Strategy and Execution.
Is Strategy Development a Losing Game? Three Ways CEOs can Boost Their Odds
Tue, Apr 9, 2019 — If the goal of strategy development is to achieve profit growth, statistically speaking, most companies fail at it. Books like Strategy Beyond the Hockey Stick by McKinsey’s Bradley, Hirt, and Smit, as well as whitepapers from the Corporate Strategy Board, point to the exceedingly low odds – one in 10 -- of driving profitable growth, based on an in-depth analysis of thousands of companies. At the core of this conundrum is a coherent organizational culture, which still remains elusive decades after Peter Drucker famously said: “Culture eats strategy for breakfast.” Certainly, we all have been in executive strategy presentations when an intellectual, fact-based debate about strategic choices devolves into chaos – derailed at the hands of human biases and social dynamics.
Create and Activate Visioning to Inspire Your Organization
Thu, Mar 14, 2019 — Not too long ago, there was an exchange on Twitter between Tom Peters and others debating Vision vs. Excellence. Rather than thinking about this as an either/or proposition, a third path – Vision with Excellence – will create the greatest value for your organization. As stated in a Japanese proverb – “Vision without action is a daydream. Action without vision is a nightmare.” Success requires both. Having a clear Vision of the future you want to create, taking the necessary steps to activate it and exhibiting the behaviors needed to make things happen are a powerful formula for driving growth and prosperity for your business. The following are steps that you can take to leverage visioning to drive value in your organization.
CEO Growth Series: Challenge #2 - Working in Your Business Instead of on Your Business
Mon, Jan 21, 2019 — CEOs come in many different flavors… sales-oriented, product-focused, operations, finance, and other disciplines. Often, where you are most comfortable, and where you dive in deep is in the area of your own prior experience. With every company I have engaged with, I see this challenge: the CEO is so involved in the business and working in their comfort zone that they can’t see the wider perspective. They’re so in the business that they’re not working on it. Growth suffers as a result. Most CEOs are not aware of the problem. They’re just completing activities, like arranging chairs on the deck of the Titanic while the ship is sinking. It’s also hard to self-diagnose. And, you’re not going to hear about it from people on the inside. So, to be clear and as helpful as possible: If your business is not at least tracking with the industry growth rate, there’s a problem, and it’s with your company. It may be time to step back and work on your business.