Tag Archives: thought leadership

Develop Innovation Skills Through 6 Techniques

When we write of intrapreneurship, we are addressing the need for businesses to foster innovation. While process and procedure can create a friendly environment in which creativity can occur, there are times when some individuals inside an organization need a jump start. How does an organization encourage its people to overcome what would be called in literary circles “writer’s block?” For, if your company can identify how to unleash the power within the minds of its employees, great things can happen on behalf of the customer and the company and its stakeholders–including the employees!

 

Catch 22Woody Bendle penned an article for Innovation Excellence recently highlighting that innovation instincts can be sharpened and expanded. It is necessary, according to Bendle, to “sharpen your instincts.” Bendle reminds readers of Malcolm Gladwell’s writings (Blink and Outliers) on how to become more intuitive. Gladwell, says Bendle, “provides several deliciously compelling examples of the human “Adaptive Unconscious” at work. This Adaptive Unconsciousness is discussed as one’s ability to intuitively connect a myriad of seemingly disparate dots in a split second in order to form an accurate expert opinion. And, fortunately this Adaptive Unconsciousness is something that one can develop over time.”

Furthermore, writes Bendle, Gladwell makes the case for developing “expert” knowledge and abilities through what he calls “The 10,000 Hour Rule:”

Gladwell’s thesis is that after 10,000 hours immersed in a particular field or activity, one begins to have a seemingly innate level of knowledge or capability. Put another way, with 10,000 hours of effort you can take your Adaptive Unconsciousness (instincts and intuition) to a new, almost uncanny level. But at this point, one’s expertise is potentially narrow, and one way to bring even more value to your innovation process is to expand your instinctive base.

Bendle suggest the following 6 techniques to awaken your latent innovative capability:

  1. Occasionally take yourself out of your daily, weekly and monthly routines. You’ll be amazed by what doing something different or doing something differently can do for your mind.
  2. Purposefully seek out the new and the different – and pay attention. There is a whole lot of life going on out there and to borrow a quote from Ferris Bueller – “If you don’t stop and look around once in a while, you could miss it.”
  3. Go Wander and Wonder. Go see, do, and experience something completely out of your wheel-house. Get out of your comfort zone and whet your appetite for confusion. Seek out things that are amazing to you.
  4. Challenge your senses. Take a moment every now and then to mentally catalogue what your senses are experiencing and then, maybe even push them a little further.
  5. Make note of things that inspire. Each of us are moved in different ways. Pay attention when you are inspired. Ask yourself why you were inspired. Make note of what this feeling is inspiring in you.
  6. Play! Have you ever spent any time watching two young animals playing around or rough-housing? They are developing their instincts and this is one technique that we human simply don’t do often enough.

Try these techniques the next time that you are trying to solve a tough problem at work. See if they propel your thinking toward greater objectivity and clarity. If you find that the techniques are working for you, take it to the next level by sharing your experience with co-workers, a supervisor, or subordinate. As more people learn to think about the everyday work world with more innovative mindsets, “breakthroughs” should become far more common and frustrating “Catch-22” situations less so!

 

 

 

Failure to Innovate Spells Decline

History has a way of repeating itself. JP Nichols, the CEO of Clientific, recites a passage from Theodore Levitt’s 1960 treatise “Marketing Myopia“ to illustrate how railroads missed a window of opportunity in their business life cycle:

“The railroads did not stop growing because the need for passenger and freight transportation declined. That grew. The railroads are in trouble today not because that need was filled by others (cars, trucks, airplanes, and even telephones) but because it was filled by the railroads themselves. They let others take customers away from them because they assumed themselves to be in the railroad business rather than in the transportation business. The reason they defined their industry incorrectly was that they were railroad oriented instead of transportation oriented; they were product oriented instead of customer oriented.”

railroadThen, Nichols makes the connection of this faulty business strategy to the modern banking system. As an industry, he feels the banks have become product rather than customer focused. Here’s how he describes the slippery slope slide into irrelevance:

Mature industries erode subtly at first. Hungry upstarts nibble at segments too small or unprofitable for entrenched incumbents to waste much energy protecting. But eventually the new entrants gain traction and move upmarket to larger and more profitable segments. And new categories are invented along the way.

Then, as it relates to banking, he writes:

Economic cycles wax and wane, but people will always look for ways to save and borrow, to move money from one place to another, and to occasionally get some advice from someone they trust. Traditional financial institutions like banks and brokerages held a near-monopoly on those activities for generations, but banks that continue to be bank-oriented will continue to lose to an increasingly broad group of competitors that are truly customer-oriented.

Think about what’s been happening around the edges of the banking industry. Peer-to-peer lending platforms and retailers’ captive financing programs have taken lending business that once was nearly the sole province of banks. New payments ventures like Square and Dwolla provide services that people want to use because of their great design and ease of use. SigFig is an online registered investment advisor with over $50 billion in assets tracked on its platform. Innovative startups like Simple and Movenbank are reinventing the whole notion of what it even means to be a bank.

The scariest part? None of those companies even existed five years ago.bank

In contrast to the banks’ inability to anticipate the needs of consumers as well as these new enterprises, Nichols salutes another highly regulated industry, healthcare, which he says, reinvests 10% to 15% of its revenues back into research and development, and “represented 21% of the $603 billion spent globally on R&D in 2011, according to a Booz & Co. study. Financials don’t even make the list, lumped in instead with the 2% of “other” industries, collectively in tenth place.”

Nichols, who was the first chief private banking officer for US Bank, challenges the industry to redefine what business they are in, as the railroads should have but didn’t. He feels that a redefinition of the industry to become more responsive to consumer needs and niche services to serve them would be revolutionary.

But, set aside railroads and banks. Look at your own organization now. How can you become more innovative? How can you light the fire of intrapreneurship so that it burns brightly a generation from now? Very simply: begin with the customer in mind and build something that will blow their socks off in terms of its ability to resonate with deep seated needs. Go do it!

Soft Skills Matter in Business – Even if Not Measurable

Throughout my career, I have had the opportunity to work alongside some brilliant co-workers and clients. Whether it has been inside a public accounting firm, or as an advisor to engineering and construction companies, I am often surrounded by folks with strong technical skills. Since my role has usually involved organizational development, strategy, or marketing and business development, I have heard time and again how “soft and fuzzy” topics such as relationships, emotional intelligence, and creativity and communication are less needful than the technical skills.

Susan Mazza, who writes a blog entitled Random Acts of Leadership, recognizes the dichotomy of “soft” versus “hard” skills in her recent post, “The Power of Soft.” She states in the post that, “the very need to distinguish “soft” vs. “hard” speaks to a paradigm that has long revered hard results as the only ones that really matter. Unless something can be quantified and measured the underlying belief is that it is somehow less valuable and hence of lesser importance.”Soft vs hard skills

Whether I have been in conversations with a CFO, a business owner, or a  VP of operations, I have heard over and again how that which cannot be measured must be insignificant and pale in priority. Mazza references a recent TED Talk by Dr. Brene’ Brown, “Leaning into Vulnerability” in which Brown shares how one of her research professors once stated, “If you cannot measure it, it doesn’t exist.” Mazza observes that many with advanced degrees subscribe to a scientific framework that assumes “measurable” is the only test for “real!”

Dr. Brown’s talk about vulnerability addressed the effort to view “soft” subjects with “hard” data. New insights have prevailed that challenge the long-held distinction within the business world of the value of each category of skills. Mazza’s view of the new awareness is that, “in our relentless pursuit to collect and analyze data, we all too often ignore the most important measure of all – our senses!”

The behavior we see and emotions we feel, according to Mazza, are the source of the most powerful tool we have as leaders and mangers – our ability to observe. She observes the following:

You have probably heard the phrase, “the tension was so thick you could cut it with a knife.” Can’t you feel that tension? How much productive work gets done when that kind of tension is present? Yet we often grind through what we see and feel through simple observation, knowing both the experience and the result are going to be less than satisfying.

Would having a mood Geiger Counter to assign the tension a number really make any difference?

By simply observing the mood and the impact it is having on your ability to fulfill your commitments, you are able to take action to make a difference in any moment. How to take that action is, of course, another subject.

The point here is the real power of soft comes from our innate ability to observe. So perhaps it’s time to give up our attachment to measuring all things and the belief that, “If you can’t measure it it doesn’t exist.”  Why not start  learning to better use the tools we have been born with – our senses – as an access to improving relationships, enhancing performance and creating great places to work?

The ability to navigate through tensions, create win-win scenarios, and build esprit de corps comes not from technical, “hard” skills, but from those soft and fuzzy assets that many C-suite executives and business owners underestimate. Think about your own organization and how greater respect for soft skills could make it a better place to work, where senses are valued equally with data and relationships that build goodwill are put on a pedestal.

 

 

 

Your Online Content Needs a Strategy

Many of my clients have made the jump into the digital age with their marketing. They know that they need to be involved in social media, but often have never heard of content management. While I do not pretend to be a content expert, I have picked up on some best practices over time and try to apply those to my own firm and the clientele I serve. My email inbox receives regular updates to keep me abreast of what thought leaders have to say about content. Over the weekend, I read about “8 Content Marketing Mistakes to Avoid,” a whitepaper that was very well written. The authors/sources quoted include Heinz Marketing’s Matt Heinz, Marketing Interactions’ Ardath Albee, Babcock & Jenkins’ Carmen Hill, The Funnelholic’s Craig Rosenberg, and The Sales Lion’s Marcus Sheridan. 

Excerpts appear below, followed by my own formatting for emphasis, observation and commentary:

1. Don’t neglect to do the groundwork. Before you start any marketing activity, you have to know why you’re doing it. How does this activity translate to immediate or eventual sales and revenue? (Heinz)

You have to know (to) whom you’re talking, what they need and want to know, and where their interests intersect with yours. (Hill)

2. Don’t focus on yourself—focus on the buyer instead. Think like the end user, not like a business owner. Great content marketing is about education.  To be great at content marketing, the focus has to be about the reader, and not the company/writer. (Sheridan)

Our content needs a lot less “we” and a lot more “you.” (Hill).

3. Don’t pitch your product at every stage. Give the people what they want: interesting content that makes their life better. (Rosenberg)

What are your customer’s issues? What do they need help with, right now? That’s the content that will spread like wildfire for you. (Heinz)

Question words4. Don’t overlook calls to action. Every content asset should have a call to action. Build pathways and tell connected stories that help to build momentum through the pipe. (Albee)

5. Don’t forget that effective content marketing is a two-way street. To really accelerate your audience and impact, you must devote time to responding, commenting, engaging questions and so on. (Heinz)

6. Don’t produce content that lacks substance. Audrey Gray of American Express advised that we put our energy into what we’re making rather than the platform: “Create content that makes you feel smarter, celebrates human artistry, or that has with real-world value.” (Hill)

7. Don’t treat content marketing as an afterthought. Content marketing is a practice that integrates all of your content-driven initiative into a consistent and holistic experience for your target markets. Content marketing is at its best when it’s used to pull everything together so that an experience in one channel makes sense or adds value when the audience switches to another channel. (Albee)

8. Don’t underestimate the power of various formats. Written content may be the core of your content strategy, but don’t forget video. Or podcasts. Or short, embedded slide presentations. Or whatever other formats your audience naturally gravitates toward. (Heinz) 

Marketers will benefit tremendously by embracing the Rule of 5. Take one topic and develop 5 different angles to approach it, creating 5 different formats of content. (Albee)

Sound advice from some stellar content curators and marketers. Incorporate these principles into your own business environment. Become engaging, relevant, and indispensable. Doing so will build a loyal following that can be turned into either revenues or referrals that produce revenues. At the very least, your brand gains equity for your efforts and that is no small feat!

 

How to Start Blogging As a CPA or Lawyer

Professional services firms have been very good clients for me over the years. With many firms, I am charged with improving their marketing results. One of the topics that often comes up is social media. Many billable hour professionals struggle with making the commitment to initially launch a social media presence; others with how to optimize what they have. Kevin O’Keefe, who blogs about the need for lawyers to blog, is someone I follow on Twitter. Kevin wrote a blog post some time back wherein he referenced Steve Robinson, a small business specialist for Constant Contact, whom I also follow.law firm library

O’Keefe summarizes Robinson’s top recommendations to small business bloggers, with an emphasis on how to apply the principles to a professional services firm:

  • Find your target audience. Before you set up a Twitter account or create a Facebook Business Page, research who’s participating there and ask your clients and their influencers (reporters, bloggers, association leaders) which forums hold their attention. You may find they like blogs and email as opposed to Twitter and Facebook. Once you determine where they are, follow them to their preferred destinations.
  • Focus your efforts. Identify the top two places where your audience is most active and fully engage them there as opposed to spreading yourself too thin across a variety of social media platforms. Professional services firms often want to do a little bit of everything resulting in going a mile wide and an inch deep. Following relevant sources and subjects via readers such as Google Reader or Flipboard; truly using LinkedIn; and blogging will enable professionals to build relationships and enhance their reputation. Other social media tools can follow.
  • Identify the most active participants on your target social media platforms. Then initiate conversations, respond and repost their messages, follow their feeds, comment on their blogs, and cite their blog posts on your blog. Third parties have tremendous influence over your clients and prospective clients. If you can get these third parties (bloggers, reporters, business association leaders etc) referencing and sharing what you are saying online, your stature and reputation is only going to go up. When people get your name from a referral source, they’ll Google you and see positive references by the influencers to what you have shared via social media.
  • Balance social media with other marketing efforts. Social media should be part of a balanced marketing effort that includes online and offline activities. Leverage the enhanced reputation you are establishing by going to networking events, speaking to groups, or even asking to have coffee or lunch with someone you’ve met via LinkedIn or other social media. Share your blog posts via email to relevant clients now and again to show them you are thinking of them. Social accelerates relationships and reputation, but talking with and meeting people is needed.
  • Don’t mistake silence for disengaged. A lot of social media is built around listening and responding only when it makes sense. If you aren’t getting a lot of responses to your blog posts or items you share online, don’t assume that your audience has tuned you out. Ask questions, inquire about your followers specific interests, and reach out on a one-on-one basis.
  • Position yourself as an expert resource. This is what it is all about. Individuals, businesses, and trusted advisers to your clients are looking for a reliable authority in their field. Don’t be afraid to focus on a niche area, industry area, or client issue that you truly enjoy working in or on. What may have taken 15 years or more, if ever, to establish a strong word of mouth reputation in a niche has been greatly accelerated via social media.

All of this makes such great sense that I chose to excerpt it almost verbatim from an O’Keefe blog post. Hope it’s helpful for you!