Killing the 5 Silent Killers of Growth - (hint : they are probably already in your company)

They creep up on you, and you never expect them. Or you never knew they existed in the first place. 

We all approach our health (I hope) in a similar fashion. Yearly, quarterly check-ups. Data collected over time to measure even subtle shifts. Changes in behaviour to get back on track, which according to my doctor, I need more time in the sun (Australian paranoia of the sun, and a borderline Vitamin D deficiency) to eating more avocados, smashed or otherwise, which does good things for some measure of health.

Why aren’t businesses aware of these silent killers, and pre-empt them? Or establish new practices to change behaviour and deliver a more sustainable period of growth?

Hindsight is a great teacher, and from working with brands and companies over the last 20 years, here’s my somewhat quirky take on some of those ‘silent killers.’

 Be prepared. And let's have a bit of fun.

 1.    Purpose? What purpose? Purpose is for hippies.

This was so clearly highlighted in the recent Royal Commission on financial services in Australia. Selling product to dead people? 'Hey! They can’t say no.' Need more credit? 'Let’s loan more money to a GAMBLER!'.

Whether or not customer anger will translate into customer churn is not the opportunity. That opportunity lay with new, emerging purpose-focused banks that do place purpose above profit. My favourite is Beyond Bank (disclaimer: my company is a customer of Beyond Bank).   Their purpose states:

 ‘Sustainability. We believe in a better way of doing business. Our purpose is to help our customers and their communities by creating sustainable prosperity for all now and into the future. By being the best for people, profit and planet we're creating a better tomorrow, beyond today.’

Beyond Bank is a certified B Corp company, and in 2017, B Corps grew 28 times faster than the UK GDP.

Purpose Drives Profit (and People). Well done, Beyond Bank.

2.    A Camel is a Horse Designed by Committee.

Doing an international MBA with a mix of different and unique perspectives offered the ‘Camel/Horse’ nugget up on a plate.  An MBA colleague from Lebanon had tabled this as a discussion point.

Passionate as he was, about love, life, creativity, he took to the soapbox and dissected the analogy.

‘YES, creativity is subjective. But you get this person, that person, the person from accounts, the CEO, the receptionist. ALL WITH AN OPINION. Not grounded in the context from which the customer lives, loves, makes decisions, and most importantly, chooses you.

With all this misguided opinion, all you end up with is a camel. A belching, spitting, grumpy animal instead of a streamlined thoroughbred.

Be focused. Be in the shoes of your customer. And don’t let this efficient, beautiful stallion that wins the race be replaced by a slow-moving animal. .

3.    Let’s have a meeting about a meeting.

We all dread them. The meetings with no agenda, no focused outcome, and ones that go on for hours.

Focused discussions need the right participants, the relevant input and a clear outcome and decision. Twenty five minutes. Max.

Wandering aimlessly these days is like travelling without Google Maps. Focus on the destination, be clear on the outcome, and get the right people in the room to get to that outcome.

Quickly.

4.     ‘Do we have a left hand? How novel', says the right hand.

Stakeholder and key decision maker alignment is crucial. From the crucial Chair and CEO relationship, to aligning operational teams against a common goal.

Developing a common goal is one aspect, but then communicating that goal and cascading it down to the people that will make it happen it another.

Agreement on what can be at times contentious issues, such as ‘Do we want the business to grow?’, ‘How do we invest in the drivers of growth – category, geography, customer, culture?’, ‘What business are we in, and what business do we want to be in?’

Strategically challenging questions, but unless these questions are answered, agreed upon, and a plan with SMART goals put in place, you may as well put your dollar coins in the proverbial piggy bank.

5.    Kill the Triangle.

During my time at Fairfax, a speaker was brought in who had traversed to the Antarctic, and provided her insight into what and how her team had succeeded.

 ‘Kill the Triangle’ 

 Was her response.

 The triangle referred to communication on the team. If there was a problem or issue with another team member, you address it with them directly.

 You do not go to a third party (hence, the triangle) to address the problem in an attempt to get it solved. The Antarctic. Time is not money. Time is life.

 Have problem? Address is directly. And get it solved now. 

 It also saves time.

Being aware of the silent killers, and, well, kill them! As the silent killers have a voice, albeit a quiet one, but very destructive one.

Start today. Which silent killer will you kill?