Our November issue of Soundview Executive Book Summaries includes summaries of three great titles. These three books provide guidelines to help you improve yourself and your company across the areas of innovation, design thinking and informal teams.
This blog was first published by Daniel Prosser on www.danprosser.com.
Every company leader wants to feel they’ve done everything possible to fulfill on their strategy every year. Leading studies show that while as many as 95% of companies have done the planning and created a cogent business plan or strategy, at least 87% of those companies won’t follow through and meet those goals this year, next year, or any year. And furthermore, it’s not the strategy that is usually at fault.
Keep this up every year and it won’t help that people, more likely your very best people, will ultimately begin leaving to find a better place to employ their talents. After all if you worked hard (and I think you are) to make a difference and it’s not working, what would you choose to do? It only makes sense.
You can do something about this in your company even if you don’t have all the right people on the bus just yet. Companies that have changed their thinking have put their companies on a course for actual 2 – 3X expansion of their current bottom-line performance. This is especially common among those companies known as ‘Best Places To Work’.
This is not fantasy thinking. Any company can do this. The difference between those companies who do it and those that don’t is those who do are willing to first uncover and confront what’s in the way, and then give up their current system of limited and limiting thinking. Gallup found that companies that do change their thinking see an average of 2.6 times more growth in earnings, 12% higher customer advocacy, 18% higher productivity, and 12% higher profitability. Every bit of those improvements wind up on the bottom line.
“Almost every significant breakthrough has been the result of a courageous break with traditional ways of thinking” – Stephen R. Covey
The companies who produce these kinds of results have first identified what is standing in the way of their forward progress and then – they shift their current thinking, they unhook their current model; they shift their current paradigms. They literally go to work to transform the way they are ‘being’ versus concentrating on what they are ‘doing’ as a company, by adopting a new system in which they’ve literally risked their present ways of thinking to build a more powerful and profitable future.
What exactly did they shift?
- An Awareness of the conversations and beliefs that undermine and sabotage future performance and a new Awareness of what is truly possible once that truth has been told.
- An enduring vision of the future that puts everyone on the exact same page; a future that empowers people, can’t be forgotten, and won’t disappear or go out of existence.
- A strategy that eliminates the need for survival tactics and empowers employees and other stakeholders to take responsibility for causing breakthrough results.
- A future-focused culture that gets the constraints left by past performance out of the way of having what you say you want and create the connections people need with each other and to the activities (roles/goals/responsibilities) that are consistent with the vision.
- An accountability system that gives people back their power to produce ‘real measurable results’ using a new structure to support what the organization is committed to.
The challenge in shifting to a future based company is to maintain accelerated forward progress. To do this the leadership have to give something up. They need to give up being right and believing they have all the answers.
Once they set their egos aside and are promoting a more relational culture, they can then stop managing people and start managing the promises people make as they establish effective accountability and become more effective at managing promises that close the gaps between what is possible and current performance.
To learn more about the conversations that can move a company into the top 13%, register for our Soundview Live webinar with Daniel Prosser: Become One of the 13% That Successfully Execute Their Strategy.
Leading a business is difficult. We’re in an era when technological breakthroughs are changing whole markets overnight, and where the expectations of employees are much different than in past decades.
Our summaries for this month speak to the challenges of leading in this ever-changing environment.
Creating Urgency and Growth in a Nanosecond Culture
by Jason Jennings & Laurence Haughton
Jason Jennings shares strategies and practices demonstrated by businesses with proven records of creating cultures with strong purpose, trust and follow-through. Jennings details the key traits of these high-speed companies and how they outperform others, ultimately showing how to build and sustain one of your own.
How Managers Can Motivate by Creating Meaning
by Scott Mautz
Scott Mautz reveals that fostering meaning at work by giving workers a greater sense of significance is the key to motivation and engagement. By making work matter, people become more committed to their jobs, which positively influences productivity, products and personal satisfaction. Mautz offers tools and plans to create meaning in and at work.
Building a Business When There Are No Easy Answers
by Ben Horowitz
Ben Horowitz tells it straight as he shares insights gained from developing, managing, selling, buying investing in and supervising technology companies. He offers techniques for navigating the struggle of being a leader and explains why you should take care of the people, the products and the profits, in that order.
If you’re a Soundview subscriber, check out your new titles in your online library today. And if not, click on a title to purchase it; or perhaps now is the time to Subscribe and get these great titles and much more to strengthen your leader skills.
Do you ever find that you are not the patient, compassionate problem solver you believe yourself to be? Are you surprised at how irritated or flustered the normally unflappable you becomes in the presence of a specific colleague at work? Have you ever felt your temper accelerate from zero to sixty when another driver cuts you off in traffic?
As Marshall Goldsmith points out in Triggers, our reactions don’t occur in a vacuum. They are usually the result of unappreciated triggers in our environment — the people and situations that lure us into behaving in a manner diametrically opposed to the colleague, partner, parent or friend we imagine ourselves to be. So often, the environment seems to be outside our control.
Even if that is true, as Goldsmith points out, we have a choice in how we respond. In Triggers, Goldsmith shows how we can overcome the trigger points in our lives and enact meaningful and lasting change. Goldsmith offers a simple “magic bullet” solution in the form of daily self-monitoring, hinging around what he calls “active” questions, six “engaging questions” that can help us take responsibility for our efforts to improve and help us recognize when we fall short.
With these and other strategies, Triggers can help us to achieve change in our lives, make it stick and become the person we want to be.
IN THIS SUMMARY, YOU WILL LEARN:
• The most common belief triggers that keep us from changing.
• To identify your triggers and use active questions to counter them.
• The power of the environment to influence behavior and the importance of structure to change behavior.
• Why a “good enough” attitude can harm interpersonal relationships.
Not a Soundview Executive Book Summaries subscriber? Then click on the title to purchase and download it right now to begin learning these critical business skills.
Consultant and author Paul Stoltz has previously written extensively on adversity, developing what he calls the “Adversity Quotient,” which measures the ability to leverage setbacks and failures into success. Stoltz has more recently discovered, however, that while AQ is essential to success, it is not sufficient. As he explains in his new book, GRIT: The New Science of What It Takes to Persevere – Flourish – Succeed, “If AQ is all about how you effectively deal with ‘it’ — whatever comes at you — then GRIT is about what it takes to really go for ‘it’ — your boldest and most important goals — and make ‘it’ happen.” AQ, he writes, is your defense, but GRIT is your offense.
Stoltz uses the word “GRIT” in two ways. Although consistently in all caps, GRIT is used at the beginning of the book as a word that encapsulates the offensive counterpoint to adversity, as described above. In his second chapter, Stoltz introduces the four dimensions of GRIT, which then becomes both word and acronym. These dimensions are:
Growth. Growth refers to a mindset that is constantly looking for the new and the different. Growth, Stoltz writes, is “your propensity to seek and consider new ideas, additional alternatives, different approaches and fresh perspectives.”
Resilience. The core of Stoltz’s original research and writing, resilience is the ability not only to bounce back from adversity but, more importantly, to make constructive use of the adversity.
Instinct. The focus here, according to Stoltz, is to know instinctively which goals to pursue and how to pursue them.
Tenacity. Most quests are going to be longer and more difficult than anticipated. Tenacity separates those who succeed from those who fail.
Stoltz emphasizes that not all GRIT is good. To help readers visualize the positive and negative facets of GRIT, Stoltz presents his six-faced GRIT grid cube, with opposing faces representing good and bad, smart and dumb, and strong and weak GRIT. Stoltz explores each facet in detail. For example, bad GRIT, he writes, is evident when people relentlessly pursue goals that aim to hurt people, gain benefits at another’s expense or unintentionally pursue a damaging goal. Stoltz cites the example of a humanitarian organization that installed 10 million hand pumps in Bangladesh to help the impoverished population get access to water. Unfortunately, the water pumped up was filled with arsenic.
To exemplify good GRIT, Stoltz offers as an example his wife, Ronda Beaman, who was diagnosed with MS 24 years ago. A personal fitness trainer, Beaman was told, when diagnosed, to slow down, but refused. Twenty-four years later, she is still working out as hard as ever, despite occasional intense pain in her shoulders and weird headaches.
Stoltz offers equally compelling stories of dumb vs. smart and weak vs. strong GRIT. The ultimate goal, he writes, is to achieve “optimal GRIT” — which is, according to Stoltz, “when you consistently and reliably demonstrate your fullest, “goodest,” smartest and strongest GRIT to achieve your goals.”
This definition is expanded later in the book, as Stoltz moves readers to more advanced notions of GRIT. First, he includes what he calls the “four capacities” of GRIT: emotional, mental, physical and spiritual. GRIT must not only be smart, good and strong but also emotionally, mentally, physically and spiritually balanced, Stoltz explains. GRIT must also be present in a wide variety of situations (work, school, relationships, money-related situations and more). Finally, GRIT begins with the individual but then moves up what Stoltz labels the “grit ladder,” through the relational, team, organizational and, finally, societal “rungs.”
As Stoltz expands and deepens his definition of optimal GRIT, he describes how to both gauge and grow one’s grit, offering a number of different tools for each. Stoltz is a veteran consultant, whose Adversity and GRIT techniques and tools have been used by Fortune 100 companies around the world and taught in schools as prestigious as the Harvard Business School and MIT — which is why GRIT is not a philosophical treatise but a toolbox for life.
Daymond John epitomizes the rags-to-riches, American-dream story.
An entrepreneur in every sense of the word, Daymond John has come a long way from taking out a $100,000 mortgage on his mother’s house and moving his operation into the basement. John is CEO and Founder of FUBU, a much-celebrated global lifestyle brand, and a pioneer in the fashion industry with over $6 billion in product sales. He is an award-winning entrepreneur, and he has received over 35 awards including the Brandweek Marketer of the Year, Advertising Age Marketing 1000 Award for Outstanding Ad Campaign, and Ernst & Young’s New York Entrepreneur of the Year Award.
John also provides the means for others to find success through the Shark Tank show, The Daymond John Center for Entrepreneurship and through his two best-selling books. And what is John’s message – that you are the brand you build.
Drawing on his own experiences on the cutting edge of the fashion business, as well as on his hard-won insights developed as a sought-after marketing consultant to global trendsetters and taste-makers, John maintains that branding relationships have now seeped into every aspect of our lives, and that in order to survive and thrive in the marketplace consumers and aspiring professionals need to understand and nurture those relationships.
But don’t take my word for it. Join us on May 14th for our Soundview Live webinar with Daymond John entitled The Power of Branding. At this event you will hear John’s story and the entrepreneurial principles he has learned and developed. And you’ll have the opportunity to ask him your questions during the webinar.
Today’s guest blog is from Lior Arussy, president of Strativity Group, a customer experience transformation firm, and the author of 6 books including Exceptionalize It!.
We live in challenging times. Customers’ expectations are increasing exponentially. Their tolerance for anything less than amazing is diminishing. They demand excellence or they go elsewhere. Competitors are trying harder to delight customers constantly raising the customers’ expectation bar. On the other hand, cost reduction efforts are everywhere. We try to control costs by optimizing services. We do so by creating consistency everywhere. While striving to solve the excellence question, we end up with consistency as the answer.
We often make the mistake of confusing excellence and consistency. Consistency is about optimizing services and products to be without flaws. Delivering a “consistent” product or service focuses on removing elements of dissatisfaction and achieving parity.
At best, consistency meets customer expectations. Eliminating inaccurate invoices is an example of a consistency effort. Ensuring that all your products share the same level of quality is consistency. Responding to customer inquiries in a timely manner is consistency. Consistency is heavily dependent on processes, and these processes become the primary objective of the performance; employees are merely executers of carefully managed procedures. In a consistency-driven environment, employees themselves are secondary to the process. They are subservient to the roles dictated to them by the process definition. Consistency emphasizes optimized processes and de-emphasizes the role of employees. At best, consistency reaches parity but never exceeds expectations.
Consistency is basically just doing your job. Some companies do it well; others do it in a mediocre way. Delivering consistency is nice, but it is not excellence—unless the rest of your industry is consistently awful and you stand out for being able to meet basic customer expectations. In fact, the definition of consistency is being on par with customer expectations. It is a boring, uninteresting place to settle. No one will celebrate your consistent performance.
Excellence and superiority, on the other hand, are about going above and beyond. They are about pleasantly surprising the customer. Excellence is all about exceeding the expectations, not just meeting them. By definition, this type of performance requires human intervention to set higher goals, individualize and humanize the interaction, and be authentic throughout the whole experience. At the core of the contrast between consistency and excellence is the role of people and processes. With excellence, processes are merely a means to a goal. A tool to deliver a greater solution. Employees are in charge, and use of accepted processes are subject to their judgment. If a process assists them in achieving the goal, they will use it. Otherwise, they use their discretion to get the job done and exceed expectations. With excellence, the corporate culture permits such employee discretion and provides permission to perform, as well as permission to make mistakes.
Excellence requires an emotionally engaging performance that delivers an authentic and memorable caring touch. Processes are not able to do this, only people are. So, excellence is not a matter of a better process. To achieve excellence we need to place processes in their rightful place, as tools, and give people the freedom to perform.
In times of excellence or nothing, we must exceed the consistency paradigm and focus on reaching to the excellence standard. To do so we will need to rethink the tools, information and authority we provide our employees to deliver on the ever increasing customer expectation for excellence.
To hear more about meeting customer expectations, join us on May 12th for our Soundview Live webinar with Lior Arussy: Stop Boring & Start Exciting Your Customers.
In today’s corporate world, 87 percent of companies fail to successfully execute the strategy they set for a given year. CEO mentor and coach Dan Prosser shows you how to make your company one of the other 13 percent — a Thirteener. In the process, he explains that the true challenge of building a great company — one that consistently executes its strategy — is understanding the real nature of human interaction and the key to success: connectedness.
Whether you’re a successful CEO, business owner, entrepreneur or leader, or whether you’re struggling to build the business you’ve always wanted, Thirteeners will help you transform your organization’s internal connectedness so you can achieve the next level of performance you’re looking for, create a workplace environment that supports your vision and assures participation by every team member, and produce breakthrough results.
With a focus on business as a network of interrelated conversations and through groundbreaking “Best Place To Work’’ company research, Prosser demonstrates what you need to do to transform the way your employees think and act, to achieve unprecedented levels of performance for your company.
IN THIS SUMMARY, YOU WILL LEARN:
• Why conversations control everything in your business.
• The 10 conversations that create a connected organization.
• How the Execution Virus can infect your business and how the vaccine of truth can heal it.
• Key concepts of the Breakthrough Solutions Framework.