Month: July 2024

Corporate CPR Episode 130: How Leaders Neglecting Strategic Skills Might Be Killing Your Company

/ Jana

On today’s episode we are talking about how leaders neglecting strategic skills might be killing your company.

Rich Horwath, founder and CEO of the Strategic Thinking Institute, helps executive teams enhance their strategic capabilities. He is the bestselling author of eight books, including “STRATEGIC: The Skill to Set Direction, Create Advantage, and Achieve Executive Excellence.” Rich has assisted over a quarter million leaders in developing strategic thinking skills, with his work featured in Fast Company, Forbes, and the Harvard Business Review. He has appeared on major TV networks like ABC, CBS, NBC, and FOX.

Key Discussion Points:

  • A consistent definition of strategy is crucial. Without a shared understanding, organizations waste time and resources. Strategy is the intelligent allocation of limited resources through a unique system of activities to achieve goals.
  • Establish clear planning horizons: short-term (quarterly), mid-term (annual), and long-term (three years). Ensure everyone in the organization understands and aligns their efforts with these time frames. Include specific milestones to track progress and adjust strategies as needed.
  • Engage in ongoing strategic thinking to gather insights and adapt plans. Use frameworks like business model innovation to foster creative thinking. Regularly revisit and adjust strategies through quarterly tune-ups. Maintain strong communication and collaboration across all organizational levels to ensure alignment and agility.
  • As Jeff Weiner, CEO of LinkedIn, emphasizes, the key to effective time management is carving out time to think strategically rather than constantly reacting. This practice should be non-negotiable, with leaders dedicating at least 90 minutes weekly to high-level business thinking and 60 minutes with their teams to focus on strategic issues, not operational or tactical matters.
  • Strategic thinking sessions must have structure. Leaders should consider three main areas: the external environment (market, customers, competitors), the internal environment (culture, strategy, processes, systems, people), and innovation (emerging customer needs and future value). This structured approach ensures comprehensive analysis and forward-looking strategies that prevent obsolescence.
  • Team meetings should avoid monologues and status updates. Instead, focus on discussing key business challenges and making decisions. Prior to meetings, teams should share two-page action plans and come prepared with critical questions and issues to address. This approach maximizes the productivity and strategic value of team gatherings.

Top Takeaways for the Audience:

The Three A’s:

  1. Acumen: Always seek insights and learnings from every interaction, whether it’s a meeting, email, or casual conversation. Consistently ask, “What’s the insight here?” and make it a habit to record these learnings. This continuous accumulation of knowledge enhances strategic acumen.
  2. Allocation: Effective strategy involves deciding what not to do as much as what to do. Regularly evaluate and cut off activities that do not contribute to strategic goals. This disciplined approach ensures resources and attention are focused on high-impact areas.
  3. Action: Develop and maintain a concise, actionable plan (one to two pages) that guides strategic initiatives. Engage in ongoing, interactive conversations with your team throughout the year to refine and execute this plan, rather than relying solely on annual planning sessions. This fosters agility and responsiveness to changing conditions.

These three A’s—acumen, allocation, and action—provide a practical framework for sustained strategic thinking and effective execution.

How to Connect with Rich:

Website: https://www.strategyskills.com/

LinkedIn: https://www.linkedin.com/in/richhorwath/

Corporate CPR Episode 129: How Sticking to an Outdated Leadership Style Might Be Killing Your Company

/ Jana

On today’s episode we are talking about how not adjusting your leadership style for today’s people might be killing your company.

Graham Wilson specializes in helping top business leaders reach their full potential through advanced leadership techniques, simplifying complex concepts with his proven toolkit. His expertise spans leadership, strategy, innovation, change management, and elite team development. Having developed over 85,000 leaders, he is trusted by global organizations for his practical guidance and team-building abilities. With a background in the British Army and commercial experience at Dupont, Graham founded Successfactory over 26 years ago, witnessing firsthand how effective leadership drives extraordinary results.

Key Discussion Points:

  • Leaders must adapt to a rapidly changing world where traditional management can’t provide all the answers.
  • Effective leadership requires balancing clear direction, autonomy, and continuous performance conversations rather than outdated practices like annual appraisals.
  • Building a leadership culture involves setting clear organizational values, aligning behaviors with those values, and fostering trust by avoiding self-interest and inconsistency.
  • Leaders need to transition from traditional practices like annual appraisals and rigid KPIs to more agile and collaborative approaches that reflect the current business environment. Emphasizing cross-functional teams and breaking down silos can enhance organizational effectiveness.
  • It’s crucial to educate and mentor new graduates and employees not just on the immediate job skills but on the broader context of the business environment. Encouraging a mindset of giving before receiving, fostering empathy, and developing a thinking and problem-solving approach can prepare them for leadership roles.
  • Understanding that people are motivated by different factors, including purpose, autonomy, and mastery, is essential. Organizations should focus on creating an employee value proposition that attracts and retains talent by ensuring fair compensation and promoting a purpose-driven culture that aligns with employees’ values.

Top Takeaways for the Audience:

  1. Speed Up by Slowing Down: Take the time to think and reflect before acting. Being efficient and effective requires thoughtful consideration to ensure you’re doing the right things, not just doing things right.
  2. Self-Awareness and Authentic Leadership: To lead others effectively, you must first understand and lead yourself. Delve into your values, beliefs, and strengths. This self-awareness forms the foundation of authentic leadership.
  3. Play to Your Strengths: Focus on environments and roles where your strengths can shine. You can compensate for weaknesses with support from others, but leveraging your strengths leads to greater satisfaction and success. Remember to align your work with what gives you a fulfilling life, continually reassessing and adapting as your circumstances evolve.

How to Connect with Graham:

Website: https://www.grahamwilson.com

LinkedIn: https://www.linkedin.com/in/leadershipwizard/

Corporate CPR Episode 128: How Not Scaling Your ARR Might Be Killing Your Company

/ Jana

On today’s episode we are talking about how not scaling your ARR might be killing your company.

Angeley Mullins is a seasoned Commercial Executive (CCO/ CRO) & Operations Executive (COO) with leadership roles across the US, EMEA, UK, & APAC including Amazon, Intuit, GoDaddy, and her most recent role as Chief Commercial Officer (CCO) at Resourcify, a digital platform that helps companies reduce their waste, increase their recycling, and promote a circular economy. Her experience focuses on commercial & operations growth: revenue, marketing, brand, sales, product, and international expansion in both technology scale-ups & larger corporations. In 2023 Crunchbase recognized her, along with other prominent technology leaders, as one of the most influential women in sales. Furthermore, she also holds advisory roles with various technology and media companies. She has a special interest for advancing the conversation around women in leadership and diversity at the executive level.

Key Discussion Points:

  • Importance of ARR in SaaS Businesses: Annual Recurring Revenue (ARR) is considered the lifeblood of SaaS businesses. It measures how much revenue is recurring and helps gauge the company’s growth and scalability. Understanding and accurately measuring ARR is crucial for evaluating business performance, especially during economic downturns.
  • Value of Knowing Your Customer: Successful ARR strategies hinge on a deep understanding of the customer. Businesses should regularly engage with their clients, ask for feedback, and use this information to enhance their product offerings. This approach ensures that the product or service meets customer needs and maintains high value perception.
  • Strategic Pricing and Value Communication: The perceived value of a product or service is more important than its price. Companies should focus on conveying the value they provide rather than competing on price alone. Properly understanding customer pain points and aligning the product’s value proposition with those needs can lead to more effective pricing strategies and higher customer satisfaction.
  • Importance of KPIs in Today’s Economy: Strong KPIs (Key Performance Indicators) significantly influence investors and company valuations. The focus has shifted from hypergrowth to conservative, stable, and predictable revenue streams, driven by a more cautious economic environment. Investors now prefer consistent revenue growth and low employee-to-revenue ratios as key metrics, over sheer revenue figures.
  • Key Metrics for Company Health: Revenue per employee has become a crucial metric, reflecting the efficiency of human capital utilization. Other important metrics include customer retention, time to value, net revenue retention, and product stickiness, which help gauge a company’s ability to acquire and retain customers. A high revenue per employee ratio, ideally higher than the average ticket size, is a good benchmark for company performance.
  • Strategies for Sustainable ARR Growth: Building excellent product experiences and ensuring quick time to value for customers are essential for retaining clients and driving growth. Companies should aim to scale the number of units sold per salesperson rather than simply increasing the sales force to maintain efficiency and control overhead costs. Cross-functional collaboration, proper incentivization, and utilizing AI tools for sales and customer support can help optimize ARR growth and ensure cohesive implementation across the value chain.

Top Takeaways for the Audience:

  1. Understanding your client’s needs and preferences is crucial for sustained growth and retention.
  2. Focus on your holistic ARR and revenue situation, not just the top-line numbers, to get a complete picture of your business health.
  3. Assess your current stage of growth honestly to ensure stable and predictable revenue. Adjust your strategies accordingly.

How to Connect with Angeley:

https://www.linkedin.com/in/angeleymullins