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July 22, 2008

Articulating Strategy Is As Important As Creating It

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The servants always know when something is going wrong in their "master's" home, sometimes before their master. 

Speechwriters are the same way.

Peggy Noonan (she worked in the Reagan White House as a speech writer) tells of a late request to complete a Bush I State of the Union address - five days before the address (Noonan, 94). It was evidence of lack of something - leadership, perhaps. Her estimate was that things weren't well in the White House.

Speechwriters also know when something is going right in the White House. The evidence is how much access they have to the President to make sure that what they write reflects what the President is actually thinking.

All the Presidents had important lines that delineated what they were thinking. All along there has been someone in the background providing the lines. And there was a President who made the delivery of the lines his business. Reagan was called the great communicator. He worked as closely with his speech-writing team as any president. Such lines as "we could intercept and destroy strategic ballistic missiles before they reached our own soil ..." (Schlesinger, 331) came from Reagan himself. Everyone said "you can't say that", "it can't be done." Reagan said it, went down that path, and made the words and the thoughts behind them stick. He thought it (his thought went back at least to the fifties, if not the forties) and he said it. The words drove his initiatives for the rest of his presidency.

What about CEOs? I saw a Gateway CEO wing it in front of an audience about a year ago. If I am not mistaken he is gone now. His words didn't really say anything. I heard a Boeing executive, who ended up CEO, speak. His words reflected his status. They were exciting, provided a vision for the future, and were actionable. I heard a COO of a housing company speak. His words were specific, laden with actionable thoughts, and the internal crowd loved it.

Which brings us around to you, and your strategy, and what your say when people ask you to speak. I've been doing this long enough that I ought to have the specific answer for every case. There are models - Kennedy and Reagan certainly were inspiring - for success. There are models for how to construct what you're going to say. We say, "What's your product, what's your marketplace. Don't talk about anything but that when you're talking about your mission statement."

What's right for you? Values count, so I'd delineate my values - and the company values - pretty early in the process. You have to make a decision about hierarchies. Do customers go first, or employees? What about the environment? Green is big right now. Is it going to be a heartfelt problem at your company, or marketing hype? You get to decide. I continue to be sure that people are listening more than you might assume. If you are going to speak, spend time on what you are going to say. It is important.

References

Noonan, Peggy. Life, Liberty and the Pursuit of Happiness. Random House. 1994. 

Schlesinger, Robert. White House Ghosts. Presidents and Their Speechwriters. Simon & Schuster, Inc. 2008.

July 21, 2008

Bipolar Planning: Is the Goal Happiness - or Adventure?

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I can't decide, so you'll just have to do some thinking on your own.

Ferriss has some original thoughts about how to succeed. His topic is the four hour work week, or how to design a business that sheds a lot of cash flow without requiring much oversight.

One of his interesting concepts is focusing not on the happiness your lifestyle produces, but rather on the adventure you have enough time to persue. Two basicallly similar, but opposite, ideas, if you think about it. Ferriss says that it's not the amount of happiness you feel, but the amount of excitement you feel that measures real success (Ferriss, 51).

Heffernan isn't accepting any of it. She points out that Ferriss achieves some of his gains by cheating and skipping important steps (Heffernan). I agree.

And I'll also say I understand both sides in the discussion.

My read on the right way to go? This is tricky. I've mentioned in the past (Mixner) that innovating and succeeding in new areas requires a bit of stretch, or perhaps, even, a little bit of stress. Clearly Heffernan is stressed by Ferriss' ideas on ways to create enough cash flow to live indepently.

Somehow, I feel good about what Ferris has to say and might try a little bit of stress myself, especially if it allows me time for more adventure.

References

Ferriss, Timothy. The 4-Hour Workweek. Escapte 9-5, Live Anywhere, and Join the New Rich. Crown Publishers. 2007.

Heffernan, Virginia. Advice Squad. The New York Times. 20 July 2008. http://www.nytimes.com/2008/07/20/books/review/Heffernan-t.html?_r=2&oref=slogin&oref=slogin

Mixner, Jack. First Step to Innovation: Build New Habits. http://mixnerstrategy.com/blog/2008/05/first_step_to_innovation_build.html

Political Websites Edge Towards Business

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There is a reason Barack Obama's campaign has been so successful at raising money. It's called Blue State Digital.

Their successes:

  • $200 million raised online
  • Two million phone calls made on the candidates behalf
  • 850,000 social networkers
  • 50,000 campaign events (Lowry, 56).

Blue State is eyeing AT&T and Stonyfield Farm for next big projects. They are also talking about working for the White House, eventually. Just gotta win the campaign. 

It is looking more and more like, if you have a good idea, having the right web folks on your side makes a big difference. If you have the right folks creating, you are able to test your ideas in days or weeks as opposed to the months and months it used to take to create a web site and test your ideas. Prices are going down, as well, allowing you to generate revenues AND profits, a tidy situation, especially if you need to approach venture capitalists.

If you have a high growth idea, give your software/website provider a lot of thought.

Reference

Lowry, Tom. Obama's Secret Digital Weapon. BusinessWeek. 7 Juy 2008. 56. http://www.businessweek.com/magazine/content/08_27/b4091000977488.htm?chan=magazine+channel_what%27s+next

Big Consulting Yields Big Data Bases

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Gallop polls have been around a long time. The beauty of their system, besides the obvious branding, is the depth of their data bases. 

Strengthsfinder 2.0 relies on those data bases to resolve personal questions I find useful.

In strategy, we sometimes perform a situation analysis - the classic SWOT - by asking four questions:

  • What are our internal strengths?
  • What are our internal weaknesses?
  • What are our external opportunities?
  • What are our external threats?

Most times, the strengths list is used to make sure that when we attack the external opportunities we have the strengths to make our strategies work.

SWOTs are really about opportunities. Getting to know your strengths - or your team's strengths - helps you address opportunities when they present themselves. Another useful point-of-view on the process says that if you focus on your strengths you're more likely to create real results. Continuous, incremental changes focusing on your strenths, drives those results (Rae-dupree).

References

Mixner, Jack. First Break All the Rules. Which Rules? http://mixnerstrategy.com/blog/2007/10/change_or_not_to_change.html [Another Gallop tool.]

Mixner, Jack. Think You're a Good Manager? http://mixnerstrategy.com/blog/2007/10/think_youre_a.html [Another Gallop tool.]

Rath, Tom. Strengthsfinder 2.0. Gallop Press. 2007.

Rae-Dupree, Janet. Can You Become a Creature of New Habits? New York Times. 3 July 2008. http://www.nytimes.com/2008/07/06/business/06unbox.html?_r=1&scp=1&sq=janet%20rae-dupree&st=cse&oref=slogin

 

People Strategy: Lincoln and His Competition

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Lincoln started the campaign for the presidency in 1859 unknown nationally. His competitors for the position gave him no credence. Seward went to Europe for the eight months of the campaign assuming he had already clinched the nomination. Chase couldn't align his own state senate behind his bid for the presidency (they did the electing of Senate members in those days). And Bates said he didn't really want the job.

Lincoln wanted it. Invited to speak in New York, he stunned the crowd with his oration. Then he went on to speaking engagements throughout the northeast.

Those speeches, and the fumbling of his competition, enabled Lincoln's election. Arriving in Washington, Lincoln, toured and talked in ways that were new to the town. He visited the hill and was greeted respectfully. Early on, he invited Seward to join his cabinet at State. Ultimately, he brought in Chase, along with Bates and Cameron, all unexpected appointments (Goodwin 317).

Seward made the assumption, as did most of the other members of the Lincoln administration, that Lincoln was incompetent. He assumed that he would dominate the cabinet and the government as an American prime minister. He realized early on the error of his ways and came to greatly respect Lincoln as leader (Goodwin, xvi). The others followed in their grudging respect.

In and of itself, the Goodwin story about Lincoln is a good one. It gets better when you compare it to the political situation today. It ends up that Barack Obama "admires" (Klein, 27) Lincoln as much as Seward ended up admiring him. In fact, Obama quotes Lincoln and is "intrigued" (Klein, 27) by the way Lincoln engaged his opponents.

The fun of all this leads us to a discussion about whether Obama might include Hillary Clinton in his cabinet if he is elected. Klein, thinking a little more realistically, perhaps, suggests that Obama should include Robert Gates, current Secretary of Defense, in his cabinet (Klein, 27). It'll be interesting to see if Obama ends up "walking his talk".

And McCain, what about him? Romney is now supporting the McCain campaign. In fact, McCain says Romney is doing a better job representing him than he did representing himself (Cooper).

Now we have two-way fun. When/if Obama or McCain is elected, we get to watch who they include in their government. It ought to be interesting.

One last comment: I haven't seen Jack Welch chime in on all this yet, but I'll bet he has an opinion. My bet is it matches Lincoln's: find the best folks you can for your company and figure out how to constructively engage them in your company's success.

References

Cooper, Michael and Michael Luo. Once Bitter Rivals, McCain and Romney Make Up. New York Times. 17 July 2008. http://www.nytimes.com/2008/07/18/us/politics/19romney.html?scp=1&sq=once%20bitter%20rivals,%20mccain%20and%20romney&st=cse

Goodwin, Doris Kearns. Team of Rivals. The Political Genius of Abraham Lincoln. Simon & Schuster. 2005.

Klein, Joe. In with the Old. Obama says he wants to hire a Team of Rivals for his Cabinet. He should start by keeping Robert Gates. Time. 30 June 2008. 27. http://www.time.com/time/politics/article/0,8599,1815849,00.html

Harvard vs. Berea - and Values

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As an investor, I have always marveled at the annual financial performance of the Harvard endowment. Lately, Harvard and a lot of other schools, have had to explain the use they put their huge endowments to, especially in light of the fact that they are allowed to accumulate their wealth tax-free.

Berea College in Kentucky is a little bit different. The college was founded 150 years ago to educate freed slaves and "poor white mountaineers" (Lewin). Currently it accepts only needy applicants (three member families have less than $47,000 annual income) (Berea). The interesting clincher? Every admitted student attends tuition free. Berea, because of its unique values system, has a $1.1 billion endowment, small by Harvard's $35 billion standard, but large when compared to the pool of American universities.

One last unique Berea attribute: every student has an on-campus job requiring at least ten hours per week engagement.

Certainly sounds interesting to me.

References

Berea College. http://www.berea.edu/prospectivestudents/admissioninfo/requirements.asp

Lewin, Tamar. With No Frills or Tuition, a College Draws Notice. New York Times. 21 Juy 2008. http://www.nytimes.com/2008/07/21/education/21endowments.html?_r=1&ref=education&oref=slogin