Understand the New Rules to Stay Competitive

growth

The Rules Have Changed

In a world of constant change and disruption, it’s important to stay agile and courageous. Whether you’re leading a small team or a large company, you will need to be bold and to act without fear.

That’s easier said than done.

Amanda Setili is president of strategy consulting firm Setili & Associates, a firm boasting clients ranging from Coca-Cola to Walmart. Her new book, Fearless Growth: The New Rules to Stay Competitive, Foster Innovation, and Dominate Your Marketsis packed with examples and tools to stay ahead of the crowd.

I recently spoke with Amanda about her work and her new book.

 

What is driving the need for fearless growth?

We all know growth is essential to a business’s health, but no matter what industry you’re in, you probably feel stress brought on by new technologies, changing customer behaviors and preferences, and new competitors that threaten your business’s ability to grow. Here are a few examples:

  • The food industry is investing to keep up with sometimes capricious trends in public perception regarding low-fat, low-carbohydrate, non-GMO, gluten-free, organic, alternative sweeteners and grains, and other choices.
  • The consumer products industry must continuously seek to find new and better ways to interact with their customers digitally. They must respond to changing consumer buying behaviors and even to consumers’ concerns about political, social, and environmental issues.
  • The entertainment industry is being upended, with companies that formerly were just conduits for content—like Netflix, Amazon, Google (via its YouTube subsidiary), and AT&T (via the Time Warner merger)—now creating their own original series.
  • The auto industry is changing gears to adapt to the way ride-sharing services, such as Lyft and Uber, are reducing people’s desire to own a car.
  • The banking industry is scrambling to adjust to new modes of consumer-to-consumer payment (such as Venmo) and new forms of lending and credit assessment.
  • The transportation and logistics industry is responding to trends in globalization, automation, and the rise of e-commerce giants like Amazon and Alibaba.
  • Industrial products companies are struggling with decisions about how best to deploy sensors and artificial intelligence to improve their products’ performance and reduce cost.
  • The energy industry is coping with low oil prices, new government regulations, and emotional consumer sentiment on both sides of the fracking, renewable energy, and coal debates.

If your business hasn’t felt the effect of massive market changes yet, it’s likely that you will soon. And if you wait until disruption occurs, it will be too late to respond effectively.

You must grow your business, but most growth initiatives entail risk of one kind or another. I often hear company leaders saying things like, “Our core business is at risk of disruption. We need to branch out into new businesses to grow, but we don’t have all the capabilities we need—they’re not in our DNA,” or, “We’re in unfamiliar terrain and aren’t sure that customer demand will materialize. There are lots of unknowns.”

To pursue growth, leaders and employees must learn to do things they have never done before, and they must grapple with new threats. All of this adds up to the fact that trying to grow a business in today’s turbulent markets is pretty scary—it’s perfectly reasonable and rational for company leaders to be worried. I developed the new rules of fearless growth to help leaders create organizations that have the courage, speed, and agility to succeed, no matter what the future brings.

 

“To pursue growth, leaders must grapple with new threats.” -Amanda Setili

 

Establish Forward Momentum

What can companies do to grow fearlessly, even when their business environment is changing fast?

When leaders encounter risks in their business environment, the natural human response is to hunker down, tighten the controls, and defend the existing business. What is needed, however, is not tightening controls, but the opposite. You need a fearless approach to learning and adapting to market change, and that means giving up a degree of control—to employees, business partners, and customers—in order to gain control. It’s like learning to ride a bike. At first, the bike seems tipsy and unstable, but once you start going, the movement itself creates stability.

3 Skills That Will Assure Your Promotion

how to get promoted at work

How to Grow Your Career

He was waiting in the back of the room after I gave a speech. I noticed him out of the corner of my eye, a young man who obviously wanted to ask me something. If you’ve spoken to large groups, you’re used to this. Someone who has a question but didn’t get called on during the Q&A or who only wants to raise a question privately.

When I turned to him, he shifted to the other foot, his nervousness seemingly evaporating with the movement. He confidently asked a question that I have heard in various forms over the years. “Skip, you’ve been the CEO of some large companies. What do I need to do to get promoted at work?”

It’s a simple question and the answer could be extensive. There’s so much to learn about leadership that it’s almost a paralyzing question.

Fortunately, it wasn’t new to me and so I had a ready answer.

 

“Work harder on yourself than you do on your job.” -Jim Rohn

 

3 Key Skills to Get Promoted

There really are three skills that I think help you stand out at work. When these three skills are mastered, it isn’t always apparent why the person is promoted. It just seems natural.

  1. Persuasion skills.

In other words, sales skills. Many people think of sales in the wrong way. They think of it as manipulation or “pushing something.” The greatest sales people, persuaders, and influencers are not pushing a false narrative or unethically exploiting others. They are great listeners, look for ways to help solve problems, and are genuinely interested in others.

Influence is a complex skill worthy of filling volumes of books. It is not only based on what you do, but on who you are. Helping others become influential is one of the major goals of this website. It’s my hope that regular readers will see their persuasion and influence grow over time.

 

“The key to successful leadership today is influence, not authority.” -Ken Blanchard

 

  1. Presentation skills.

In other words, public speaking. It may be in small groups or in large ones, but those who overcome the fear of speaking – and become good at it – are significantly more likely to see promotions than those who don’t.

Why How We Do Anything Means Everything

How

How

How we think, how we behave, how we lead, and how we govern are some of the “hows” that are the subject of Dov Seidman’s book, How: Why How We Do Anything Means Everything.

It’s a thoughtful book, not the type to read in one sitting, but one filled with experience and perspective that will change the way you think about the world and your role in it.

Dov Seidman is the founder and CEO of LRN, an organization that helps companies navigate complex legal and regulatory environments and build ethical corporate cultures. He was also named one of the “Top 60 Global Thinkers of the Last Decade” by Economic Times.

 

What inspired you to update and release this new version of How? 

When HOW first appeared, I argued that we were entering what I called the Era of Behavior. I felt compelled to update and enhance HOW because since then, it has become clear that we haven’t just entered the Era of Behavior. We’re way deep in it. Our behavior matters even more than I thought when I wrote the book, and in ways I never imagined.

Our world is not just rapidly changing, it has been dramatically reshaped. We’ve gone from being connected to interconnected to globally interdependent. Technology is bringing strangers into intimate proximity at an accelerated pace, affording us richer experiences, but also demanding new levels of empathy and understanding. These same technologies are granting us MRI vision into the innermost workings of traditionally opaque organizations and even into the mindsets and attitudes of their leaders. We’re now living in a no-distance world where our moral imagination has exploded.

To thrive in this reshaped world, how we behave, lead, govern, operate, consume, engender trust in our relationships, and relate to others matter more than ever and in ways they never have before.

 

“Leadership is about how we get people to act and join us.” -Dov Seidman

 

Leadership Lessons from the Wave

What leadership lessons can be drawn from “The Wave?”

An act like The Wave is such a perfect metaphor for the style of leadership we need today. At its core, leadership is about how we get people to act and to join us. When you think about it, there are really only three ways to do this. You can Coerce, Motivate or Inspire. Coercion and motivation, threatening with sticks or bribing with carrots, come from without and happen to you. Inspiration, however, comes from within. When people make a wave in a stadium, what makes them express themselves by standing up out there is what comes from inside. In business, what inspires others to join in waves is the sense that they are on a journey worthy of their loyalty that embodies their deeply held beliefs and ideals.

Further, if you consider the Wave as a process of human endeavor, you realize immediately that anyone can start one—an enthusiastic soccer mom, four drunken guys with jellyroll bellies, or eight adolescents who idolize the team’s star player. You don’t have to be the owner of the stadium, the richest or most powerful person there, or even a paid professional like Krazy George Henderson, the Oakland Athletics cheerleader who invented the Wave in 1981. No one takes out their business card and says, “My title is the biggest; let the Wave start with me.” Anyone can start a Wave; it is a truly democratic act.

 

“Anyone can start a wave.” -Dov Seidman

 

Capitalize on the Gig Economy

Gig Economy

Introducing the New World of Work

 

Work is changing.

Technology continues to change everything, and work is no exception. In just a few years, we have seen companies emerge from Uber to Instacart. New digital platforms are emerging that explore different business models.

Marion McGovern founded M Squared Consulting and Collabrus. Her new book Thriving in the Gig Economy: How to Capitalize and Compete in the New World of Work, is a thoughtful exploration of the new world of work. Whether you’re looking to make some extra money or you’re in management, you will want to familiarize yourself with these trends.

 

“The best gig is the one you’ve got.” –Live Shreiber

 

Gig and the New Economy

What is the Gig Economy?

Before I answer that question, let’s clarify the meaning of the word “gig.”  The term was first used with jazz musicians in the 1920s, where they would book one club for a week and another for a few days in a different club across town. A gig referred to work that could vary in duration and was for a variety of employers.  So gigs have been around for a long time. I started my company, M Squared Consulting, in 1988 to match independent consultants with projects. It was a gig economy company long before the term had even been coined. The “Gig Economy” refers to the people who work independently for a variety of entities as well as the companies that enable that work, both the new digital talent platforms, as well as traditional intermediaries and staffing companies.  Additionally, you could include the vast eco system that has sprung up to support this work, including co-working space, productivity apps, collaboration tools, and financial service products targeted at the independent workforce.

 

Successful gig workers have grit, resilience and learn from mistakes.

 

A few years ago, you received two calls that got your attention in a new way. How did that alter your thinking?

Actually there were three random and unrelated calls from venture capitalists and private equity guys who wanted to talk to me about digital talent platforms. One idea was for a platform for professional moms who wanted to work flexibly after the kids were older. Another was to build a pool of on-demand oil field services workers in Western Africa, and the third was to create a product to hire recent college graduates into entry level management positions in a way that would require no human intervention.  All of the players were technologists who had never run a service business, let alone a people-intensive one.  Much of the magic was to be in the algorithms which would match talent and opportunity seamlessly and quickly.  Many of the fairly basic questions I asked—like who would hire the moms? Would they be employees or contractors? And how would the platform make money?—had not yet been answered.  I was struck by the disconnect of talent being the most important thing to the success of an organization, but nonetheless the goal was to eliminate humans in the process of securing that talent. It inspired me to take a much deeper dive into the burgeoning world of digital talent platforms.

 

How is the Gig Economy growing?

Alan Alda on The Art & Science of Relating and Communicating

The Art and Science of Communication

Alan Alda needs no introduction. He played Hawkeye Pierce in M*A*S*H, appeared on ER, The West Wing, and he’s appeared in numerous films from Crimes and Misdemeanors to Bridge of Spies. For eleven years, he hosted the award-winning series Scientific American Frontiers, and he founded the Alan Alda Center for Communicating Science at Stony Brook University. He has also won seven Emmy Awards and received three Tony nominations, is an inductee in the Television Hall of Fame, and was nominated for an Academy Award for his role in The Aviator.

For many years, he has been studying communication. His latest book, If I Understood You, Would I Have This Look on My Face? My Adventures in the Art and Science of Relating and Communicating will have you laughing and contemplating the art of communication. You’ll find his insights and tips immediately useful in both business and personal settings.

I recently spoke with him about his latest work.

 

“Real conversation can’t happen if listening is just my waiting for you to finish talking.” –Alan Alda

 

It’s a gross understatement to say that you see things differently. For instance, most people don’t go through a difficult surgery at the dentist, one messing up your smile, and end up with ideas about improving communication. I’m interested in two aspects of this experience.

 One, how did it inspire you?

The experience of a dentist’s poking in my mouth with a scalpel — without seeming to care if I understood his terse one-word description of the after-effects – was pretty much the essence of poor communication. All he said was, “Now, there will be some tethering.” What? Tethering? “Tethering. Tethering!” He just kept saying the same word over and over. Too cowed, I let him go ahead, and my smile after that was really suitable for playing villains.

He knew what he meant, but he didn’t notice that I wasn’t getting it. To the extent he did notice, it made him impatient. That story has come back to me many times, especially the more I see that it’s up to us who are trying to communicate something to be aware of what’s going on in the other person’s head.

 

“People are dying because we can’t communicate in ways that allow us to understand one another.” –Alan Alda

 

And two, have you always had a unique way of viewing the world or was this cultivated over time?

I don’t know if this is unique, but some of my earliest memories are of trying to figure out how things got that way, or why adults were behaving the way they were. My mother was schizophrenic and paranoid, and I always had to check her reality against real reality. I think that helped me question things and always check them out from another point of view.

 

 

The Importance of Relating

Your book starts off talking about the importance of relating. I’m struck by your humility. You’re always up front with your mistakes, what you should have done, what you didn’t know at the time. For example, you say:

My first blunder was assuming that I knew more than I did.”

I was paying more attention to my own assumptions than I was to him.”

I wasn’t listening.”

And then your story teaches us about relating, but also, we immediately relate to you because of your openness. Is this a relating tactic?