High Growth Weekly Insights
Stuart Ross ??
?Scale Up Expert ? Strategic Exit Coach ? Executive Coach ? Leadership Mindset Expert ? Experienced Chair ? Investor ?Trainer ? Best Selling Author ? Keynote Speaker ? Change Facilitator
Do you have a strategic thinking team?
Being a Scale Up certified coach I often refer my clients to Verne Harnish’s book Scaling Up, for insights and great business tools.?In the Strategy section of the book he describes creating Strategic Thinking Teams (the council) and states: “Grab a copy of Collins’?Good to Great: Why Some Companies Make the Leap…And Others Don’t?and?read the three most important pages ever written in business?– Pages 114 to 116”
In these pages of?Good to Great?Jim Collins starts by going through the “Hedgehog Concept” and the need for a company to deeply understand 1) What the company can (and, equally important, cannot) be good at; 2) What drives the company’s economic engine (profit per X); and 3) What the company is deeply passionate about (great companies do those things that ignite passion). This process is illustrated as three intersecting circles with the great companies executing at that sweet spot in the middle.
Collins goes on to describe the characteristics of the council in the three pages (who should be included, cadence for meetings, rules of conduct) but the lead in makes a critical point: any discussions on strategy should involve an iterative process guided by the three circles. Ask questions, dialogue and debate, implement decisions, and perform autopsies and analysis on what worked and what didn’t work all through the lens of what the company can be best in the world at, how to generate cash flow and profitability, and what the company stands for (the passion).
The guidance on the characteristics of the council is an excellent reminder that meeting regularly with the people who understand your business and/or industry is a fundamental requirement of success. The idea that the three circles should be a guide for questions, debate, and analysis is extremely useful.
Think Time
领英推荐
One activity I advocate to my clients is to build think time into your weekly diary. This is time for you to work 'on' the business by thinking through the answer to questions you typically would not ask on a day to day basis.
This week's question to reflect on:
How do your customers, clients and target market define success... specifically? Where is the mismatch between what you currently offer and what they really want? What must you change to give the customer certainty that if they buy it, they will get the desired result?
Quote of the week
“Set your mind on a definite goal and observe how quickly the world stands aside to let you pass.”?Napoleon Hill
Stay healthy and have an awesome week....
Digital Innovator & Insightful Speaker | Expert in Digital Marketing, Blockchain & AI for Strategic Business & Revenue Growth | 20+ Years of Experience in Helping Brands Build Their Online Presence
2 年Really relevant Stuart
Customer Centric Digital Transformation Specialist | Process Consultant | Six Sigma Black Belt ~ Bridging the gap between sales and operations
2 年I get so much value from your insights - thank you!
Senior digital marketing executive
2 年Thanks for sharing this.
# 1 Best Selling Author, Entrepreneur Contributor… But I don’t care about that??♂?and neither should you! I walked away from this and reevaluated my life! Now success means being focused on the success of others!
2 年Thanks for sharing this, interesting points!
Self-Mastery | Optimize Yourself. Elevate Everything.
2 年Really interesting Stuart!