How to Compete With Giants

compete with giants

Overcoming the Odds

If you enjoy reading stories of victorious underdogs, you will love Competing with Giants by Phyong Uyen Tran is Deputy CEO of THP group, Vietnam’s leading beverage company. The book is a compelling read as it takes you through the journey of a mega-successful family business. Imagine turning down $2.5 billion. What did it take to get there? How did they scale the business? What insights can we learn from Asia’s growth?

More to the point, what can all business leaders learn from her experience?

I found this book an incredibly fascinating read and reached out to learn more.

 

Turning Down 2.5 Billion Dollars

Take us inside you and your family’s emotions. What was it like to turn down a $2.5 billion offer from Coca-Cola?

When Coca-Cola made the offer, they certainly wanted to dazzle us by sending a private jet to take us to their headquarters in Atlanta. Even though my younger sister, Bich, and I were more or less a decade into running our family enterprise, we were impressed by the effort that they had put forth with the offer. However, Dr. Thanh, who is my father as well as the founder and CEO of Tan Hiep Phat (THP), was calm and collected. As usual, his words were economical, and he listened carefully to all that was said in the meeting. It was extremely difficult to read through his poker face. 2.5 billion dollars was a lot of money, but to my father, the decision had been made when the term of the offer would limit THP from developing any new brands and would limit THP from selling our products outside of Vietnam, Laos and Cambodia.  It goes against the vision and mission that we have set for THP. There was no meeting of the minds, and that was that. Almost too simple of a decision.

 

“Great leaders also possess a future-orientation that allows them to seek out opportunities with a positive attitude rather than focusing on difficulties, which is a past orientation.” -Phuong Uyen Tran

 

What lessons should other entrepreneurs learn from your experience?

10 Strengths of a High-Creative Leader

creative leader

Scaling Leadership

 

The world of business is moving faster than ever before, and this world is filled with much volatility, uncertainty, complexity, and ambiguity. In their book, Scaling Leadership: Building Organizational Capability and Capacity to Create Outcomes that Matter Most, leadership experts Bob Anderson and Bill Adams argue that in these fast-changing times, no single leader—no matter how skilled or how experienced—can know everything that needs to be known about their organization, nor consistently make the best decisions. The solution to this dilemma is to scale leadership.

I recently interviewed Bob and Bill to learn more about scaling leadership and the implications for leaders in any kind of organization.

 

“A business can’t outgrow the effectiveness of its leadership!” -Robert Anderson, William Adams

 

Scale or Die

What does it mean to scale leadership?

There’s a fundamental principle of life as we know it—it either scales and grows, or it dies. It’s that simple. Growth is built into the DNA of every living organism that exists on our planet today—from the mighty redwoods, to vast underwater forests of kelp, to huge migrating flocks of birds, to human beings. Businesses are in many ways much like living creatures. Businesses either grow and thrive, or they die and fade away—doomed to irrelevance as competitors pass them by.

However, it’s not enough to simply grow our organizations. We must also scale new and innovative solutions to complex business, organizational, and global problems. And we must do so in a world that’s becoming increasingly volatile, uncertain, complex, and ambiguous. This requires leaders throughout the leadership system of the organization who can do more, know more, decide more, contribute more, and be more—for their organizations, their people, their customers, and for the communities in which they do business.

Leaders must learn to scale themselves by scaling leadership. Leaders who scale leadership grow the capability and capacity of those who work for and with them to take on leadership tasks of their own—leveraging their own leadership across far more individuals and teams while creating a workplace where people thrive.

Setting up peer coaching and accountability groups with a regular practice of providing ongoing, supportive feedback greatly accelerates and scales the development of Creative leaders.

 

“Leaders must learn to scale themselves by scaling leadership.” -Robert Anderson, William Adams

 

10 Strengths of the Most Effective Leaders

Based on your extensive research, what defines a High-Creative leader or differentiates the most effective leaders?

In the research presented in Scaling Leadershipwe look into what differentiates the most effective leaders from those who are not. We do so by analyzing 1,350 pages of 360-degree written comments—senior leaders providing written comments to other senior leaders. While every leader is different, bringing different sets of strengths and weaknesses to the table, we found that High-Creative leaders consistently demonstrated the following 10 strengths:

3 Ways to Be More Likable

be likable

The Snowball System

 

Many people want to grow a business, increase client referrals, and spark momentum. At the same time, people resist sales efforts and struggle with developing business.

How do you grow your business without selling your soul?

Mo Bunnell is an author, speaker, consultant, and founder and CEO of Bunnell Ideal Group (BIG). In his book, The Snowball System: How to Win More Business and Turn Clients into Raving Fans, he shares his knowledge and experience in helping businesses grow.

I recently spoke with him about how to be more likable, gain referrals, improve business development, and create teams that have momentum.

 

Be Strategically Helpful

Why do so many people have such a negative feeling about sales?

The word “sales” is loaded. For many people it conjures up being pushy, dishonest and selfish—and that the salesperson stuff they try to push on others, whether they need it or not.

This is sad because when selling is done the right way, it’s great for all involved. It helps create a future that didn’t exist before. It’s long-term focused. It’s about the other person.

This is one reason we have to use code words for sales: business development, relationship building and the like. “Sales” is just too charged to use with some people.

In The Snowball System, we say sales is “being strategically helpful.” When people do that, everyone wins.

 

“Sales is being strategically helpful.” -Mo Bunnell

 

Experts Are Made

Can anyone learn the skills of business development?

Without a doubt, yes. And that’s different than a lot of people think.

My favorite researcher on expertise is Dr. Anders Ericsson out of Florida State University. He’s widely known as the worldwide exert on expertise. He says, “Consistently and overwhelmingly, the evidence showed that experts are always made, not born.”

We’ve trained comprehensive sales skills to over 12,000 professionals. I’ve seen people in all roles, at all starting points from all areas of the world. With that context, I’d add this: “Nearly everyone has a few natural tendencies that will help them with sales. Maybe they’re gregarious, are inquisitive or relentless in pursuing goals. But being great at sales requires dozens of skills—it’s a complex craft worthy of its own study. No one is a ‘born salesperson,’ and everyone can improve. It’s no different than learning a musical instrument or a sport. Some people are naturally disposed to be have a higher upper ceiling, but anyone can improve. And anyone that’s great learned it and earned it.”

Once people have that mindset, they can learn to love selling and become great at it. It just takes knowing the skills needed and an ongoing system to incrementally improve over time. The Snowball System breaks down every skill needed to become great at sales.

 

“Likability is a soft skill that leads to hard results.” -Mo Bunnell

 

3 Ways to Be More Likable

How to Fuel Business Growth with Cameron Mitchell

Click above to watch our video interview.

 

What is the question?

Our stories are very different, and yet there are some striking common themes: Both of us started in restaurants as dishwashers and became CEOs. Both of us mapped out our goals early in life. Both of us believe in people as the way to transform company culture.

Perhaps that is why I was immediately drawn into the pages of Cameron Mitchell’s compelling book.

More likely the answer to my intrigue is the fact that I find myself in one of his restaurants every week. You can always count on superb service, delicious food, and an inviting atmosphere.

 

“Yes is a state of being.” -Cameron Mitchell

 

Recipe for Growth

The recipe for his latest book includes equal parts entrepreneurial advice, culture how-to, and business mixed together in an autobiographical stew that is seasoned with honesty and experience.

Though I am well-aware of Cameron Mitchell’s success, I found myself nervously reading parts of it, wondering if they would make it.

But make it they did, and the journey is worthwhile reading for anyone looking to emulate success.

Cameron accepted the invitation to visit me in my office where we discussed a range of topics from his mistakes, to company culture, to his recipe of success.

 

“Guaranteed fun = guaranteed success.” -Cameron Mitchell

 

Get his new book, Yes is the Answer! What is the Question?: How Faith In People and a Culture Of Hospitality Built A Modern American Restaurant Company, to learn more about his compelling story.

 

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Turn Millennials into Your Biggest Asset

Millennials Matter

Many business leaders are beginning to worry about how few Millennials have the leadership and sales acumen to fuel their growth and transition into senior leadership roles.

Danita Bye passionately believes that Millennials could be the new “greatest generation.” She is a leadership expert on the Forbes Coaches Council and is the founder of Sales Growth Specialists. I recently spoke with her about her love of Millennials and how to equip the next generation.

 

Millennials Matter: Proven Strategies for Building Your Next-Gen Leader is the title of your new book. Share some statistics with us about why that is.

The star performers responsible for the growth of our businesses will, in a few short years, primarily be Millennials. Mentoring young leaders needs to be a top priority of every company’s business growth strategy. We need to actively recruit and train them to replace the nearly 10,000 baby boomers retiring each day. Starting in the early 2020s, Millennials are going to drive our economy. Since that is the case, Millennial leaders will be key assets to accelerating business growth, tapping new markets and launching innovative products and services.

In our recent Millennials Matter Survey of over 270 business leaders, 60 percent voiced their concerns with Millennial leaders in three areas: character, confidence, and collaboration. Even experienced leaders are seeking proven strategies to deal with these and other mentoring and coaching challenges. Doing so will help them maximize their business opportunities while realizing their leadership legacy.

 

Why Millennials Get a Bad Rap

In my opinion, Millennials often get labeled unfairly. Why is that?

Millennials do indeed get a bad rap in the media where the focus is often on the group of Millennials who are entitled, narcissistic, and still living in their parent’s basement. However, that’s not my experience. I work with many emerging leaders who are highly talented people of rock-solid character and firmly grounded confidence. They exhibit the ability to connect and collaborate in a wide range of challenging communication scenarios with a broad range of people.

 

91% of Millennials see themselves as leaders.

 

We also have to admit that Millennial leaders are different from previous generations.  Based on current media, technology and culture, they view leadership from a unique angle. For example, 91% of Millennials see themselves as leaders. This is shocking to many who worked hard to climb the ladder and become “leaders.”  Plus, they crave leaders who interact in a non-conventional way – they don’t want a boss. They want a mentor or a coach to help them grow in their leadership capacity and influence. Some leaders perceive this “different” as a negative, expressing concern. However, when we are able to look, stop complaining and start coaching, we can harness the incredible potential that Millennials bring to our businesses. It’s these fresh insights and perspectives that hold the seeds to dealing more effectively with the competitive pressures of today’s crazy sales and business environment.

 

“Millennial leaders don’t want a boss. They want a mentor or a coach to help them grow in their leadership capacity and influence.” -Danita Bye