Is your team engaged in the creation of your plan?
Are you staying ahead of the competition and creating a sustainable advantage?
Shape Your Future
“Strategy is about shaping the future.”
That’s the opening line in The Strategy Book by Max Mckeown. In a logical, straightforward manner, Max walks readers through strategic principles and best practices in a way that educates the novice and the well-practiced strategist alike. Whether you are a CEO or a new team leader, Max provides helpful tools and checklists to improve your strategic plan.
Max Mckeown is an author of several best-selling, award winning books. He’s also a sought-after speaker on subjects ranging from competitive advantage to strategy to leadership. He holds an M.B.A. and Ph.D. from Warwick Business School in England.
I recently had the opportunity to talk with Max about strategic best practices.
What’s the biggest misconception about creating a strategy?
Strategy isn’t a document. Some people believe that it is. And that’s probably why so many hard-working people roll their eyes when the strategy word is mentioned. Specifically, strategy is not leaders spending a million dollars on thick documents produced by outsiders to which insiders must align.
You’ve met thousands of managers and leaders in businesses around the world. When you meet a team, what attributes are present when you find an exceptionally high-performing team?
Strategy is about shaping the future. Perhaps this is why the roll-up-your-sleeves, get-things-done kind of people are often impatient with anything remotely connected to the word strategic. They want results. They tend to ignore the want-to-see-the-bigger-picture kind of people they see as daydreamers.
At first blush, you may think a servant leader literally takes on the role of a servant. Taken to an extreme, that definition would look like this:
As you pull into work, the leader meets you at your car, opens your door, and welcomes you to the office. Maybe the leader gets you coffee mid-morning and drops by in the afternoon to see if you need anything. When you need assistance on a project, or maybe just someone to do the grunt work, there your leader is, waiting for you.
The replication factor is so important. It means teaching others to lead, providing opportunities for growth and demonstrating by example. That means the leader is not always leading, but instead giving up power and deputizing others to lead.
“Servant leaders give up power and deputize others to lead.” -Skip Prichard
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4. Helps people with life issues (not just work issues).
It’s important to offer opportunities for personal development beyond the job. Let’s say you run a company program to lose weight, or lower personal debt, or a class on etiquette. None of these may help an immediate corporate need, but each may be important.
Several weeks ago, my wife and I headed out for a quick lunch. I had been traveling and speaking in a few cities and was glad to be home. Before lunch, we needed a few supplies and stopped at Target.
Target does a lot right. Wide, brightly lit aisles. Easy-to-find merchandise. And friendly staff who seem happy.
When I was grabbing the items I needed off the shelf, I noticed a sign. “Buy three of these items and get a $5 gift card,” one sign said. The other said, “Buy two and get another $5 gift card.” I only needed one of each item, but I thought why not take the money so I loaded up.
At the checkout counter, we paid for items and then I asked about our gift cards. We liked the kind woman who was helping us. She was efficient and the type who could build a relationship fast. “I thought about that,” she responded. “Let me check….no, this item doesn’t qualify for some reason. I know you only bought this many so you would get the card.”
She pulled open the Target brochure, looked at the item, and still couldn’t figure why it didn’t give us the cards. I explained that I checked the labels when I took the items off the shelf and that they were immediately behind the sign. She shook her head and offered to have someone go check the sign.
Immediately in my mind I pictured what would happen: A light would go off. She would get on an intercom and bellow, “Man in Aisle 9 needs a price check!” We would hold up the line, miss our lunch reservation, and a manager would come out to talk to us.
“Forget it,” I said, not wanting to cause a scene and not having any time to wait. For me, the pain wasn’t worth it. (But I’m thrifty enough that it did bother me.)
“I’m sorry,” she responded with an “I wish I could do something” attitude.
This is not a story about Target. It’s a good store. This is not a story about the checkout clerk. She was so nice we would seek out her line next time.
It’s a lesson for management. And it’s all about empowerment.
When I first became a CEO, I noticed something strange.
In a meeting, I was suddenly funnier. The slightest hint at humor could erupt the room into laughter. I was also smarter. And my arguments were more persuasive. Heads would bob up and down as I made a point.
Obviously my new title didn’t bestow some magical gift of brilliance. What it provided was positional power, and people were reacting to the position.
Immediately, I knew what happened. It took me longer to figure out what to do about it.
I’d seen this much earlier in my career when people would “parrot” the CEO. I call it the Parrot Principle. To get along and be accepted, some find it’s just easier to parrot the CEO than to think critically, to argue, or to be independent. Why rock the boat when you can just agree and repeat what you’re told?
The cause is usually fear. Fear of losing a job or of not being in the inner circle. It’s also a symptom of a culture needing change.
Because of a lack of self-confidence, a fear of job loss, or an extreme need for acceptance, it is easier to agree with the boss than to advance a different point of view.
The result is usually what I call a “pocket veto” where people nod in a meeting, then go outside and talk about what they really believe. It’s bad for everyone. The company is not served well. The CEO may not even realize what’s happening. And the parrot is building distrust throughout the organization.
It’s not just the new CEO who faces this problem. It’s almost any new position of power. If others are dependent on you, you can be vulnerable to the Parrot Principle.
I’ve enjoyed getting to know Faisal Hoque, CEO of BTM Corporation. His story is the classic success story. He moved to the United States from Bangladesh with nothing and now is regularly cited as a business and technology expert. We discussed his leadership journey, his views on company culture, and his latest book.
Faisal, you’ve had quite the journey. You grew up in Bangladesh and started a business at the age of 14 in order to raise money to move to the United States and study here. What a journey it’s been from that point until now. You’re the founder and CEO of BTM Corporation, you’ve written five management books, you’ve been named as one of the most influential people in technology. Give me a synopsis of your story.
I’d be happy to, Skip. It’s perfect that you use the word “journey” because that’s exactly how I view life – a journey. To date it has been comprised of a series of events as you mentioned, and each has held a valuable purpose in guiding me through every stage. One of my favorite books is The Alchemist by Paolo Coelho. There are many quotes from the books that I think of often, but the following, “There is only one thing that makes a dream impossible to achieve: the fear of failure,” is particularly meaningful to me because regardless of the difficulties I’ve faced, I have never allowed a fear of failing to dissuade me from pursuing my dreams.
Twenty-three years ago, I had just finished my first summer semester at Southern Illinois University Carbondale after arriving from Bangladesh in 1986. I was 17 and a student in the College of Engineering. After paying my tuition for the summer and fall, I had $700.00 left to survive, secure an education and start my life. I didn’t quite realize how tight of a situation I was in.
I met some local students who became good friends. They suggested I introduce myself to the “art and science” of on-campus “janitorial engineering.” So began my expertise in polishing marble floors, cleaning arena bleachers, offices and bathrooms. My friends urged me to request financial assistance going forward. So my “pitching” career began with efforts to set up meetings with the dean, provost and university president.
It is here in the corridors of Carbondale I experienced rejection when I was told “No” to my request for financial help. The provost began by suggesting I should seriously consider going back home, which I would not even consider. After submitting numerous applications, I received a full scholarship to the University of Minnesota in Duluth. I built my first software/hardware product, which was sold commercially by a local company.
Not long after, I accepted an offer from Pitney Bowes, even though it was not in the financial industry where I initially envisioned myself. From Pitney, I moved onto Dun and Bradstreet and then took the step of building my first company, KnowledgeBase.
I was asked to join GE to launch their first B2B e-commerce spin-off as one of their youngest business executives at the age of 24. Ten years after my journey here began, I started my next company, EC Cubed. We launched in December 1996 and immediately signed up GE as a customer. Less than two years later, after raising millions of dollars from venture capitalists (VCs) and securing top-tier customers, I was fired as CEO. It’s a story many entrepreneurs have experienced at the hands of VCs, and a lesson I will never forget.
Not long after, I returned to the drawing board and wrote another book, then prepared for the launch of my next company in December of 1999, BTM Corporation. Fast forward 13 years, four more books, and many Fortune 500 customer transformations, and I count my blessings each day as I continue to pursue my dreams in this ongoing journey.
Our ability to manage business technology has not kept pace with our creation of new technology.
Let me stop for a moment to deﬁne ‘‘business technology’’: the application of technology to deliver a business capability or automate a business operation, in other words, the right technology to meet the business objective. In many organizations there are still two camps–technophiles and technophobes–and if they aren’t at war, they are at the very least wary of each other. In too many organizations, the ‘‘business side’’ comes up with a plan and throws it over the wall to the ‘‘technology side’’ for implementation. Because technology is so embedded in the way things work today, these two sides should have been sitting and planning together from the very beginning.