A Simple New Year’s Resolution for a More Successful 2012

We’ve all done it. We aim high and mean well but end up not reaching our own expectations. Sometimes it’s frustrating being human. Yet there’s got to be a better way. And there is!

As the story goes, a couple weeks back I came across an (audio) interview with Heidi Grant Halvorson (author of “Nine Things Successful People Do Differently”) via Harvard Business Review’s HBR IdeaCast. From there I drilled down and around a bit and found an HBR article that I presume to be more or less a synopsis of her book. Then within that article were links out to other supporting articles.

When all was said and done I found the whole bundle insightful, relevant and (given the time of the year) highly share worthy.

The simple New Year’s resolution is this: resolve to consume these six articles. I guarantee you’ll be glad you did. Don’t panic, they’re all bite sized.

“What Successful People Do Differently”—An interview with Heidi Grant Halvorson

“Nine Things Successful People Do Differently” by Heidi Grant Halvorson

“Six Keys to Being Excellent at Anything” by Tony Schwartz

“Get Your Goals Back on Track” by Heidi Grant Halvorson

“A Better Way to Manage Your To-Do List” by Peter Bregman

“How to Teach Yourself Restraint” by Peter Bregman

Dig in. I hope you find this collection as valuable as I do. Leave a comment, let me know what you think.

The Taming of the Screw

Earlier today I had coffee with a respected colleague. We both have unique perspectives so it’s always refreshing to meet for some engaging banter. As it often does, the conversation turned to the economy (old vs. new), the internet (web 2.0 vs. web 3.0), and how such dynamic parameters impact companies/organizations in pursuit of growth.

Here is a non-all inclusive summary of our conversation in no particular order:

  1. Now more than ever, the parameter settings (so to speak) that grew a successful company to Tier X, is quite often not the same settings to get to Tier X+1, Tier X+2 and beyond.
  2. Early growth is like pounding a nail. However, at some point that nail turns into a screw. The brute force of a hammer that drove the nail is all but useless for turning screws. Simply pounding harder is not the answer. In fact, it’s a false assumption that is distracting and counter productive. Pounding even harder qualifies as insane.
  3. By definition, change (e.g., growth) requires change. In addition, more is more and better is better. Simply repeating more of yesterday’s this-works is probably not the formula for a better tomorrow. Believing otherwise can be dangerous.
  4. While culture starts with HR, it’s management’s role to set direction, motivate, maximize productivity and reinforce that culture. Culture doesn’t just happen. If the culture is failing it’s not the fault of staff.
  5. While few, some things have not changed. As in sports, victory is shared by the team. However, the responsibility for coming up short belongs to management/leadership.
  6. While certainly not a panacea, tool selection (i.e., technology) can be the deciding factor between getting to Tier X+2 and Tier X+4.
  7. Bureaucracy is not absolute, it is relative. In other words, what’s counter-productive for a Tier X company can be best practices and M&Ps for a company a tier or two up. The challenge is making the transition from controlled chaos to focused, efficient and low noise.
  8. Act like the company you want to be, not the company you used to be. In today’s environment, yesterday as an anchor is no longer a positive.
  9. As organizations grow what is required to sustain that growth evolves. For example, entrepreneurial leadership is often replaced with a more seasoned approach. Darwinism dictates that organisms that don’t evolve die.
  10. If growth were simply a matter of scaling up sales then there would be a glut of multi-million dollar companies. The difficulty of scaling marketing/sales aside, there’s more to sustainable growth than more sales. Higher volume increases noise. Therefore, noise reduction is also critical.

The bottom line…we both agreed that in spite of the macro-economic gloom and doom there continues to be  opportunities for growth minded organizations willing to evolve.

Best Buy and its Marketing Intelligence Agency

“Services, Market Intelligence Are Best Buy’s Not-So-Secret Sauce” by Alan Wolf (TWICE.com, 7 November 2011).

Raise your hand if you think of Best Buy as a down & dirty in the details marketing/marketing intelligence company? What? No hands raised? That’s okay, I was in your camp too prior to this as well. There a couple things that caught my attention and my business imagination.

First, there’s Geek Squad. As I recall, Best Buy was the first (or at least one of the first) to roll out such a branded service. Mind you, I feel for the mom & pops it stepped on. But let’s face it, getting a PC or other consumer electronics fixed is like taking your car in for service—you just don’t know when you’re getting hoodwinked. Not only does Best Buy satisfy a need in the market with Geek Squad but it also uses that one-on-one customer contact as a key data collection point. Their commodity based retail is the razor. The after-mark service— differentiated and higher margin—is the razor blade. Who knew? Did you? Moi? I never drilled down on the thought that deep.

But here’s the kicker:

“Meanwhile, helping to discern market trends and consumer needs — often before shoppers are cognizant of them — is Best Buy’s customer insights unit (CIU), headed by former CIA intelligence officer Bill Hoffman. The operation uses surveys and focus groups, and monitors forums, social networks and other online commentary, to gauge customer satisfaction, understand brands, track the effectiveness of promotions, prepare for new launches, and develop insights and actionable strategies for the company’s various business units.”

Note: It’s not the use of surveys, focus groups, etc. that caught my eye. It’s the fact that the lead dog is former CIA. In other words, the value isn’t in collecting the data. It’s helpful but it’s relatively easy to do in this day and age. Who isn’t collecting something at this point? The value is in turning that data into useful information from which strategic business decision can be made. This end to end process takes three things: collecting the right data, parsing it and then analyzing it to make the right decisions.

Obviously Best Buy is pretty serious about all three, especially the deal breaker, step 3. You don’t call in the CIA just for kicks, right? By the way, I wouldn’t doubt it if Best Buy shares some of what it collects with its OEM partners. For a fee, of course. I guess you can add that to their list of razor blades as well.

Perhaps there are opportunities for you to sell more razor blades? Perhaps you are sitting on the data would lead you to making such an insight?