Thincubator - Simple remedies for business success

Deja vu all over again...

Isn't it amazing how sometimes in business we seem destined to repeat the mistakes of a previous generation? It made me thing long and hard about why that is the case in a recent meeting, and then it struck me.....and at that moment the great Einstein sprang to mind when he said, and excuse my poetic licence for grammatical benefits....to create change we must first change the mindset which first caused the 'issue'.

You see that is the issue right there. Humans are, at their heart, pack animals - in fact there is a well known theory to describe our behaviour, it is called herd mentality.

We all long to be part of something and being part of something does not mean being on the outside of the 'circle'. Have you ever stood talking to a colleague before a major meeting and heard them spout off that they plan to do the opposite of what the natural convention has been to that point. Then have you witnessed them do the exact opposite of what they said before the meeting during the actual discussion? That is herd mentality in all it's glory!

We long to be part of something and not the outlier. It is at our very core, hence why being a social outcast has so many negative thoughts attached to it. However, consider this for just a minute please, most of what we consider the most amazing minds of any era have been described at the time as social outcasts at the time they were doing their best work.

It wasn't until after the event that they were labelled as brilliant because 'hindsight' is a great predictor of the past. It shows us that we were wrong, it shows us that in business we need to embrace the outlier (not physically please or we may have some HR issues to contend with) but we must hear their voice.

Progress comes from challenging convention, progress comes from being brave enough to accept that there may be another way. Consider this statistic (I know 14-71% are made up depending on who you believe ;-)) but all sources agree broadly that more than 98% of people are honest. If that is true, and I believe the research was honest! That means that most employees do not go out of their way to ruin your day or the business. Assuming positive intent we owe it to them, and the business, to consider that they may be right - and don't defend your position or herd mentality will prevail.

Remember in any situation we don't want to create 'Deja vu all per again...'

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Don't call me stupid, stupid!

It has been a long and hard 12 months for me on many levels and that is why there has been a long gap in my posts. Now with some life changing events behind me I have decided to start to turn my attention to things I love, blogging being one of those things!

As I sit here in New York I begin to thing about cultural differences, or more broadly differences in general in business.

It has never ceased to amaze me that as educated human beings how we can have a tendency to increase the complexity in a problem to try and demonstrate how smart we are in solving it. It makes me wonder though, how important simplistic disruption is. Einstein, arguably the greatest brain of the modern era, had an innate ability to simplify things to the lowest common denominator and that is a skill that many a businessperson, in my view, could do with developing.

There is, in my mind, one simple reason for this. Customers only pay for what they value - period (well I am in the USA). That means that they will not pay for any of your smart solutions to problems they don't identify with, or feel exist and so 'dumbing down' is the new 'intelligent' in my view.

We live in a world where customers (and consumers) have so much choice about what they do with their hard earned cash, yet many feel that we need to constantly baffle them with science or 'educate' them like they are stupid.....I am going to be controversial here and say that what really needs to happen is that we talk to them in real world language, in their language and more importantly only deliver what they need and value. Remember, in a world where mobile phones were becoming more and more complex Apple took the worldly storm using less buttons and simplicity and focussing on 'what's it like to use this thing'.

Einstein said, 'nothing happens until something moves', and I agree wholeheartedly, but I would add to this - nothing happens until people understand what's in it for them, and more importantly, what to do.

Consider this and I suspect you may be successful. Show you are smart by avoiding complexity....and through making connections.

Don't call me stupid, stupid!

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Shout, Shout, Let It All Out...

One of the most famous phrases from George Bush contains one of the most important messages for anyone embarking on a career, either in (or running) a business.
'They misunderestimated me'!
The importance for all is clear.  Communication is a complex thing.  Sometimes it is easy to forget that others react to us based on how we act towards then.  It is easy to point a finger when others do things that are not in keeping with what we want.  It is easy to blame.  What we cannot forget is that often others are only reacting to what they percieve we have said.
In general we should not forget that, on the whole, people don't go to work with vindictive intentions.  The other point to remember is that many things can be lost in translation....what appears simple to us, may not be easy to communicate though.  The chief reason being that words can be interpreted differently by others and that almost all of us absorb information in a unique way.
Key to breaking through this 'barrier' is 'triangulating & calibrating'.  Understanding the three phases help us to work through this.
Phase 1 is 'What we say'
Phase 2 is 'What the other person heard us say'
Phase 3 is 'What we intended to say'
If we work through these at every opportunity, using appropriate questions and understanding, then our chances of success are incresed exponentially.
The other thing to consider are the circumstances that the other party is operating under.  In short, if things dont go the way you want them to, ask what you can do differently.  Blaming the other party is letting yourself off the hook!!

Management! Are you sure??

The thought of being a manager is what is drilled in to many young people as they enter the market place.  You need to aspire to be on the management ladder.  You need to get to the top - surely that is obvious to all.....or is it?

As one of #bizgptip's states - You should promote people based on their ability to do the new role, not the track record in the last.

The most interesting aspect is the fact that really not everyone is made for management, nor is management for everyone.  As Depeche mode said......

People are people....now clearly that the whole song takes it a little far but part of the first verse says it all for me.

So we're different colours, & we're different creeds & different people have different needs.

 

The number 1 lesson in management is that your biggest asset is your people, this is not just about saying it, but truly believing & demonstrating in everything you do.  The people you are responsible for are the only way you will succeed, do not under estimate them.  Look at how often players do not perform on the football pitch and the manager gets the sack.  The same happens in business,  make no mistake.  This is not through malice, or ill-intent, it is purely based on your ability to get the best out of those around you.

Scary thought?  It does get 'worse' before it gets better.  The next thing a manager must recognise is the 'law of attraction' (as I call it).  Generally talent will only want to work with people that they feel they can learn from, get on with and respect.  Therefore if you find yourself saying there just isnt the talent out there, then maybe you need to look in the mirror first.

Okay so we have hopefully covered the two key 'downsides' to management (nobody said it would be easy).  As a manager you need to remember three key things.

Business triage, People triage - Repeat

Lets quickly look at these separately.

Business triage is the art of being able to look at the myriad of things that the resource under your direction could do, and then decide what items would have the greatest impact for the minimal expenditure, whilst balancing short and long term needs.

People triage is very similar to business. Working through the 'gaps' in your team, which items do you address to get to the best overall working unit.  This may sound like a very dispassionate way of presenting this but do not forget it is the real heart of the managers role.  As Tom Peters said on Twitter recently.

 

By definition, the manager cannot do all the work herself. Hence the manager's sole task is to make others--one at a time--successful.



Once you have completed this exercise, it is then time to repeat.  The work is never completed, you must keep your skills at the forefront to ensure you add value to your team and keep them moving in the right direction.



Finally do not forget that managers & leaders get things done through others, you will not be judged on the work you produce but that which is produced by the collective.

Diversity cannot conform!

It is one of the biggest 'issues' I have with business today.  A 'pet hate' I suppose you could say.  What is it?

 

Well simply put it is the irony of businesses to 'recruit diversity' in to the fold and then to systematically try to wipe out the areas that made the candidate diverse.  To try and normalise.  Normal is average, which would be why I would humbly suggest, that many businesses perform in little more than the average category.

The positive of this is that it provides huge opportunity for the likes of Apple, Google, & Red Bull to make a real name for themselves because they are prepared to capture the richness of a diverse workforce.  Rather than cage talent, they look to set it free and find something special - something unique, that real people identify with.  The age of sterile corporates is really coming to the end.

It is inevitable that the current 'corporate beast' will have to change or face extinction.  This is not an 'idle' prophecy.  In the 1970's the average life expectancy of a business was 40-50 years.  As at the start od 2000 that had dropped to around 12.5 years.  The key factor highlighted as the reason for 'failure' is purely the inability for the company to adapt.

My challenge to all businesses, large or small, recruit top talent, then trust & set it free.  Your survival might just depend on it.

If you watched the full Diversity video you will have heard....

Our similarities make us strong, but our differences make us stronger!

Make a difference today, be brave and go for it.

FRUSTRATION? DEAL WITH IT...

FRUSTRATION

 

It's amazing that in business, and the bigger the business gets the worse this becomes, more time, effort and energy is spent on dealing with frustration than on anything else.  It is quite possibly the biggest 'killer' of business & careers that ever roamed the earth.  Okay, so that may be a little Quentin T in the use of poetic licence BUT honestly it is something that we need to get to grips with.

The real challenge is that on the opposite end of that spectrum is the word 'EMPOWERMENT' and that is the real challenge.  Frustration is a by-product of not feeling empowered, not feeling like you can make a difference, not feeling you are really providing value.  So the conundrum is there, the scene is set - but what now.

Well firstly in respect of frustration, just learn to deal with it.  The world is not a free place and you are not able to do anything you want, whenever you want.  That is a fact.

That said, you can make changes that reduce that frustration level...

• You can find a different way to do the 'thing' that you want.
• Find a different way to get your message across.
• Rescope the objective.
• Fire someone.
• Hire someone.
• Walk out.
• and so on.....

However the biggest thing you can generally do, is be honest with someone about what you feel.  Very few people go out of their way to ruin the days of others (for some it is a hidden talent ;-), only kidding) but rarely are we honest with ourselves and others.

I heard a great quote the other day about businesses going bankrupt...the question was 'How did it happen'.  The response: 'Slowly at first and then all of a sudden as we didn't confront the truth'.

It may be painful in the short term but if you are frustrated you must deal with it.  You'll feel better & be far more productive for sure.

Mash-up Business

I am a firm believer that everything you do in life teaches you something.  The task for you is to understand the lesson no matter how obscure it may appear to be.

Earlier this month a lesson from 19 years ago struck me (okay you could argue I am a slow learner or, as I prefer, I didn't think about these things when I was that much younger).  For those that know me well you will be aware that for a short period of time I was a professional DJ.  I know - scary eh!  I was working on a project and suddenly realised that my DJ 'skills' could help me.  I like to still tinker in the world of music - in fact I had a hard drive placed in my car to carry all my music.  More importantly I have started to play in the world of mash-ups.

The project involves bringing together the plans of 33 different countries, to form an 'uber' plan.  An interesting challenge considering in 20 plus years the EU still hasn't managed a single currency, let alone a single economy or single language!  Then it hit me, music is universal, understood and enjoyed by all - cue the mash-up.....33 different songs blended in perfect harmony in 4 minutes to bring it all together.

So what has this all to do with my time as a DJ then?

Well as I reflected further the one thing a DJ learns very quickly is that you don't need, and rarely do you play the whole song before bringing in the next.  Of course I thought, it's pretty obvious isn't it - to build this 'uber' plan means taking the best of all the individual elements to create the harmony, melody and a killer bass to back it up.

However the lesson is wider than just the plan, in my opinion, you have to take the collective strengths across the whole business, whatever they may be, and make them work in harmony.  Remember, though, that some tunes just won't mix, in that case you have to change them - be your own business DJ and keep the dance floor moving.

It is Ludacris, but you don't need to be a Pitbull. To Foster The People, sometimes it only takes a little TLC. Certainly don't LMFAO, or you may end up in your own Oasis, which will be a Coldplay, in your own Wynter, Gordon.  Finally Robyn anyone of their self-esteem never works so just ensure David Guetta's it for you.

Diligent or delinquent

Picture the scene....many of you will already be familiar with it.....the board room and all the charts and numbers you can shake a stick at.  The atmosphere could be cut with a knife......the tension is unbearable.

The numbers are all pointing to the need to 'change direction/evolve/do something different'.  The case is about as close to a 'slam dunk' as you have ever seen.....but then the fatal words you hear oh so often (unfortunately they are not a cultured Shakespearean affair).  We need some more data on this, can you get more on this.

The irony about this is that the room suddenly feels lighter, brighter and more relaxed, but why?

How often do you see this happen....the issue is 'fear', but not any old fear, the fear of losing what you already have.  In that situation people look to protect, they look for licence to say no....what they need is permission to say yes.

The harsh lesson as Woolworths, Jane Norman et al have learnt is that you can kid yourself that you are doing the diligent thing by asking for more information - just to be sure - but there is a fine line between diligence and delinquency.  Have you overstepped the line.  Challenge yourself before it is too late.  Change will ALWAYS be painful as we are naturally creatures of habit, but rest assured being the one to turn out the lights for the last time as you close the door will be far far more painful for longer.

So how do you give yourself permission to say yes?  Firstly take your data and 'stuff' and turn it in to a story.  Make sure the board are clear on who makes the decisions - opinions are great but SOMEONE must stand up and take decisions.  Ultimately decision making is not a team sport.

The biggest catalyst, though, is holding yourself to account for making decisions.  Asking for more information is only delaying a decision, and should only be used when there really is a gap, not when it just feels more comfortable that way.

Are you a diligent or delinquent?  Have you witnessed, or even suffered this before?

The square root of -1 is not confidence...

It is amazing how the world changes and changes so quickly.  In the latter part of 2008 I was in Dubai.  I was working with a business that could not build properties fast enough to sell.  The world was seeing record oil prices but 'no-one' really cared.  That was until the financial system went in to meltdown.  Suddenly 44 of the most expensive properties ever built in Dubai were again for sale....purely because it was better to lose the deposit than the devaluation the house had been hit with.  All because properties in Dubai were seen as quick return investments.  As the car dumping in Dubai shows the land of hope and opportunity may not always be that.

Business is like mathematics.  It runs to certain rules or conventions.  When we try to solve the 'unsolvable' like the 'square root of -1' or '2 divided by zero' we end up making it up as we go along.  The square root of -1 is i (imaginary number)!!  Business really isn't that complicated.  People love to make it so. For fear, or for power I am not sure.  What happens when we try to solve the unsolvable, is that we create a wave of uncertainty.  Take the current 'perfect storm' in the UK.  The Government is cutting so hard in to spending that confidence is waning.  They state that 600,000 jobs lost in the public sector will be taken up in the private.  Whilst private sector roleswere reported today to be 'increasing' we are still seeing unemployment numbers also increasing so the state burden for 100% 'unproductive' people is growing.  How does that make sense then?  Especially when for the last 19 months we have seen 'supposed' job growth in the private sector whilst unemployment figures continue to rise.  All this before the public sector redundancies really get under way.

So what is the point to this post?  In simple terms it is about the fact that like any team game confidence is key.  Few have confidence in the banking system, or the corporate system, or the Government policy system, and if that remains the same then we may just have a self fulfilling prophecy on our hands.  A few weeks ago a FTSE250 company reported that it would not hit the full year profit forecast for 2010-2011.  This company will still make in excess of £100m in profit this year alone - yet the market responded by taking nearly 25% off of its value inside 36 hours.  If you ever want a sign of the lack of confidence that people currently have in the world then surely this is it.

Make sure you get your business back to solving the things it can solve, and whilst recognising those it can't, don't get caught up in losing confidence because of the things you can't.  We could be very close to a return to the riots of the 80's or the fuel blockades of 00's very soon unless everyone takes their place at the table.  As the Pet Shop Boys said in the song '2 divided by zero':

I think they heard a rumour
Or someone tipped them off
Better to go sooner
Than call it all off

I think we will have some businesses and Governments making some fairly big changes in policy very soon.....

One more time you Daft Punk

I tweeted the other night (UK time as I am in the US as present) a comment that was prompted by a conversation with someone I respect so much, but it really got me thinking.  I am regularly commenting about the fact that I am still surprised by the fact that so many business leaders & owners think that the issues relating to them are unique in some way & have never been observed before in business.

It is a shame that people tend to feel this way, as I find it is one of the biggest reasons (probably second only to pride) that they do not ask for help.  I tend to not like the word 'consultant' when I talk about myself.  I feel that it now has far too many negative 'vibes' associated with it.  The role of the consultant should be do what is best for the client.  I am sure I am in the minority when I 'cringe' at the thought of a conversation I witnessed almost 12 months ago now.

A consultant had been called in by a client to do a piece of work.  I felt already that the 'scope of work' was a little to 'wooly' but that is surely the topic for another blog.  When the consultant reported back there was the 'inevitable' pitch for additional work.  Clearly you have to survive and keep your business moving.  I understand that, but to pitch and say the 'implementation' of your findings is worth nearly 15 times more than the finidings themselves is shocking.  Even more shocking was the fact that, as with many consultants, there was no 'risk' on part of the consultant should the implementation not work.

Now this is not a 'dig' at the profession in any way.  As with any business model there are good and bad examples.  The real reason for sharing this is the fact that most consultants will pitch to you that they have seen things like this before and that makes them perfectly suited to help you solve your problem.

The value of the consultancy market continues to grow despite so many people feeling they are unique with their problems.  There is a real sense of irony in that.  Imagine what could be achieved if even more had open minds.  After all, as one Daft Punk said....

Don't wait too late
You know
You don't stop
You can't stop