Day two at the Gazelles Growth Summit. Different tone for today. Personal improvement. Worked hard. Lots of improvement to be done. 😉
Todd Klein author of Built for Change. He worked on ideas for having courage to face change. Companies and their leader have to be Unconventional, Structural(more on this later) and Aspirational to face the changing world. Not all the companies he studied were new ones, not all were tech companies. Studied the gamut.
—Fearlessness. It’s a myth. The companies that navigate change are risk adverse. The take calculated risks, based on this key Question.
–List five things that you know about your customers that we know better than our competitors or our competitors don’t know. The answers reduce risk and give courage.
—Irreverent: Myth that they break all the rules. They set different rules and follow them.
–What industry metric do you measure regularly for no good reason? Stop tracking it. (example: Zappos doesn’t measure call time to keep calls short. They reward 4 hour call center calls. They brag about them.)
–They measure employee fun, not employee satisfaction. Count informal interactions. Proxy having fun.
—Detachment: Another myth. The lonely executive at the top figuring it all out alone.
–They are proactively Inactive–Schedule down time. Disciplined about taking time to screw up. And work the front line. Produces insights: (Bezos of Amazon packs boxes in the warehouse for a week every year. Not as undercover boss either. To clear his head.
–Schedule an offsite to do something. In the next ninety days.
—Process Another myth. They only “process” what they can control. Not what Goliath does either.
–This is called synthetic creativity. Create boundaries for just a few important ingredients for success and get out of the way.
–Find one thing you can do tomorrow that you enables someone with half your experience to do a portion of your job with 2x the outcome.
—Banish Small Thinking Reality not a myth. New ideas are fragile. They protect them from small thinkers. Let them incubate.
–Long term planning at these firms go three layers deep.
–Is there a customer advocate in your firm? Not a customer service rep. Someone responsible for reporting how your customers are doing overall, not just with you. Then how we are doing.
—Universality. Can a single word capture the universality of your business. Trust, Self Confidence.
–Mine is Clarity or Forward Progress
—Appetite for Destructions A myth. They are not crash and burn people like Chainsaw Al.
–But they are willing to sink the boat if they have to (change the model, turn things upside down) to compete.
–If you were fired, but could hire hire one person to come with you to eviscerate the firm, who would that be.
—Meta Lesson: Sustainable Transformity is difficult to do without Passion. Hard to sustain passion.
Sally Hogshead–How to Fascinate–7 triggers to Persuasion and Captivation
–She has developed a model for determining the aspects of your personality that you use the best to persuade others.
–Problem solving model as well as a way to gauge your own persuasiveness strengths and capitalize on them
–Seven triggers: Power, Passion, Mystique, Prestige, Alarm, Rebellion, Trust.
–Has a neat free assessment. I recommend you take it. Go to www.SallyHogshead.com and click on What is your F-Score
–I found it very interesting. Can you guess my primary and secondary triggers and my dormant trigger. I’ll buy lunch for the first person in Memphis who gets in right. I was quite surprised.
Travis Bradberry: Emotional Intelligence 2.00
–Really reinforced for me that all of us need to work on being more aware of our emotions and those of others. Being good at this only helps your succeed. 58% of ones performance is tied to emotions yet only 36% of us can accurately identify the emotions as they happen. And we let them control us.
–Those with average EQ outperform those with highest IQs 70 % of the time.
–His book has an assessment with it, similar to Strengthfinders 2.0. The assessment tell you where you stand on your emotions and recommends three strategies in the book for improving your EQ.
–I’m going to buy the book and take the assessment. You should too.
Rabbi Barr next. A rabbi comedian. funny message about this.
–Teach people how to think about their problems and they will solve them.
–One other nugget. “When you meet a couple who says they don’t have problems, they will be divorced shortly.”
Greg Crabtree: Simple Numbers, Straight Talk, Big Profits.
–Finally, an accountant who understands building businesses.
–Two Great Metrics to use to make sure cash flow grows. GP$/Labor$ and GP$ /Management$
–The denominators are total labor expense and total management expense.
–Think of them like the NFL Salary Cap. Will help you focus on profitable business only.
Writing this in the Atlanta Airport. Great summit. Make plans to join me at the next one in Atlanta. The Gazelles Leadership Summit May 15-16. Jim Collins is the Four Hour Keynoter.
I’m exhausted but refreshed at the same time. See you soon.