Fewer​ ​bigger​ ​bolder

by​ ​Sanjay​ ​Khosla​ ​and​ ​Mohanbir​ ​Sawhney

Section​ ​1:​ ​The​ ​seduction​ ​of​ ​more
● introduce​ ​new​ ​products,​ ​push​ ​into​ ​new​ ​markets,​ ​acquire​ ​new​ ​customers​ ​and
buy​ ​companies,
● often​ ​times​ ​we​ ​are​ ​stretched​ ​too​ ​thin,​ ​drowning​ ​in​ ​routine​ ​and​ ​have​ ​become
too​ ​complex
● look​ ​for​ ​quality​ ​revenue​ ​that​ ​is​ ​profitable​ ​and​ ​sustainable
● Do​ ​less,​ ​make​ ​fewer​ ​bets​ ​but​ ​make​ ​them​ ​bigger.​ ​focus​ ​where​ ​you​ ​can
● Be​ ​bold,​ ​Distort​ ​resources​ ​and​ ​focus​ ​them​ ​on​ ​the​ ​highest​ ​potential​ ​initiatives
● Simplify​ ​and​ ​keep​ ​costs​ ​low.​ ​Cut​ ​complexity​ ​from​ ​your​ ​plans,​ ​your
organization​ ​and​ ​your​ ​process.
● Unleash​ ​people,​ ​bet​ ​on​ ​people​ ​by​ ​giving​ ​them​ ​disproportionate​ ​resources
What​ ​is​ ​sustainable​ ​growth?​ ​It​ ​is​ ​growth​ ​that​ ​continues​ ​to​ ​build​ ​on​ ​itself.

Focus​ ​7​ ​framework

Seduction​ ​of​ ​more

Ask​ ​yourself
What​ ​are​ ​you​ ​good​ ​at?​ ​What​ ​are​ ​the​ ​essential​ ​things​ ​that​ ​you​ ​want​ ​to​ ​do?
Does​ ​the​ ​notion​ ​of​ ​quality​ ​get​ ​confused​ ​with​ ​quantity​ ​in​ ​your​ ​business?
Beware​ ​of​ ​the​ ​Seduction​ ​is​ ​more​ ​syndrome

What​ ​is​ ​Upside-down​ ​Marketing-​ ​assumptions​ ​and​ ​contradictions

1. Acquire​ ​more​ ​customers,​ ​ ​to​ ​fire​ ​the​ ​customers​ ​that​ ​are​ ​not​ ​profitable
2. Launch​ ​more​ ​products,​ ​to​ ​kill​ ​the​ ​products​ ​and​ ​services​ ​that​ ​are​ ​not​ ​producing
revenue
3. Add​ ​more​ ​brands,​ ​to​ ​put​ ​your​ ​weight​ ​behind​ ​just​ ​a​ ​few
4. Enter​ ​new​ ​markets,​ ​to​ ​concentrate​ ​on​ ​just​ ​a​ ​few​ ​where​ ​you​ ​can​ ​dominate

Understand​ ​complexity
The​ ​what-​ ​what​ ​the​ ​company​ ​creates
The​ ​who.​ ​the​ ​customers​ ​you​ ​serve​ ​directly
the​ ​where-​ ​the​ ​market​ ​where​ ​you​ ​operate
the​ ​how-​ ​the​ ​operations​ ​you​ ​own​ ​to​ ​do​ ​business

The​ ​wisdom​ ​of​ ​less

● In​ ​the​ ​end,​ ​if​ ​you​ ​have​ ​a​ ​good​ ​product​ ​you​ ​offer​ ​value​ ​for​ ​money.​ ​People​ ​value​ ​this
notion​ ​and​ ​they​ ​will​ ​keep​ ​coming​ ​back​ ​for​ ​more.
● Growth​ ​is​ ​not​ ​about​ ​doing​ ​more,​ ​it’s​ ​about​ ​doing​ ​things​ ​better

THE​ ​FIVE​ ​FINGER​ ​RULE

find​ ​the​ ​5​ ​key​ ​indicators​ ​in​ ​everything​ ​you​ ​do.​ ​Stay​ ​focused

1. Discovery-​ ​search​ ​for​ ​growth

Identify​ ​what​ ​is​ ​the​ ​most​ ​promising​ ​and​ ​then​ ​get​ ​everyone​ ​aligned​ ​behind​ ​these
opportunities​ ​for​ ​growth.
Insight​ ​channels-​ ​where​ ​you​ ​look​ ​for​ ​opportunity
1. Anomalies-​​ ​variations​ ​in​ ​performance​ ​that​ ​seem​ ​odd​ ​and​ ​even​ ​surprising,​ ​these​ ​can
be​ ​full​ ​of​ ​opportunities
2. Confluence-​ ​When​ ​trends​ ​come​ ​together-​ ​SoLoMo-​ ​social-local-mobile
3. Frustrations-Points​ ​of​ ​pain​ ​or​ ​inconvenience​ ​are​ ​fruitful​ ​sources​ ​of​ ​opportunity
4. Orthodoxies-​ ​taking​ ​common​ ​wisdom​ ​and​ ​turning​ ​it​ ​on​ ​its​ ​head,​ ​uberize
5. Extremities-​ ​study​ ​the​ ​people​ ​on​ ​the​ ​fringes,​ ​they​ ​are​ ​demanding​ ​but​ ​they​ ​show​ ​you
where​ ​you​ ​should​ ​go.
6. Voyages-​ ​get​ ​out​ ​of​ ​the​ ​office​ ​and​ ​emerge​ ​yourself​ ​in​ ​the​ ​day​ ​to​ ​day​ ​of​ ​your​ ​customer
7. Analogies-​ ​Look​ ​around​ ​at​ ​other​ ​industries,​ ​is​ ​there​ ​something​ ​that​ ​works​ ​in​ ​another
industry​ ​that​ ​might​ ​translate​ ​neatly​ ​into​ ​yours.
Offer​ ​Discovery​ ​workshops
NOKIA​ ​had​ ​had​ ​a​ ​smartphone​ ​10​ ​years​ ​before​ ​apple,​ ​but​ ​was​ ​intoxicated​ ​by​ ​success​ ​and
failed​ ​to​ ​capitalize
● set​ ​clear​ ​goals
● invite​ ​the​ ​right​ ​people
● the​ ​right​ ​size-​ ​max​ ​20​ ​people
● Mute​ ​the​ ​boss
● spread​ ​the​ ​net​ ​wide​ ​in​ ​gathering​ ​data
 ● Do​ ​the​ ​homework-​ ​all​ ​the​ ​content​ ​should​ ​be​ ​distributed​ ​ahead​ ​of​ ​time,​ ​it's​ ​about
tapping​ ​into​ ​knowledge​ ​not​ ​sharing​ ​facts
● Mining​ ​for​ ​gold-​ ​explore​ ​and​ ​find​ ​success​ ​that​ ​has​ ​been​ ​overlooked
● Chaos​ ​is​ ​your​ ​friend-​ ​wide-ranging​ ​and​ ​open​ ​ended​ ​conversation​ ​,​ ​messy​ ​and
illogical
● No​ ​holds​ ​barred-​ ​it's​ ​ok​ ​to​ ​talk​ ​about​ ​controversial​ ​or​ ​painful
● sharpening​ ​the​ ​thinking,​ ​with​ ​time​ ​narrow​ ​the​ ​discussion
● What’s​ ​not​ ​working
● Stick​ ​to​ ​the​ ​schedule
● Sum​ ​up​ ​-​ ​in​ ​the​ ​last​ ​hour
5​ ​takeaways
1. the​ ​search​ ​for​ ​growth​ ​begins​ ​with​ ​the​ ​customer​ ​and​ ​the​ ​market​ ​insights​ ​that​ ​can​ ​be
converted​ ​into​ ​growth​ ​opportunities
2. Insights​ ​can​ ​be​ ​serendipitous,​ ​but​ ​you​ ​can't​ ​leave​ ​them​ ​to​ ​chance.​ ​You​ ​can​ ​improve
the​ ​odds​ ​of​ ​gaining​ ​insights​ ​by​ ​methodically​ ​exploring​ ​a​ ​range​ ​of​ ​key​ ​sources.
3. Key​ ​sources​ ​of​ ​insight​ ​include​ ​,​ ​anomalies,​ ​confluence,​ ​frustration​ ​orthodoxes
extremities​ ​voyages​ ​and​ ​analogies
4. To​ ​convert​ ​insights​ ​into​ ​opportunities,​ ​bring​ ​people​ ​together​ ​in​ ​a​ ​discovery​ ​workshop
to​ ​identify​ ​the​ ​opportunities​ ​contained​ ​in​ ​the​ ​insights​ ​and​ ​to​ ​create​ ​a​ ​shared
understanding​ ​of​ ​the​ ​opportunity.
5. Leaders​ ​play​ ​a​ ​key​ ​role​ ​as​ ​a​ ​catalyst​ ​in​ ​discovery​ ​,​ ​but​ ​they​ ​need​ ​to​ ​step​ ​back​ ​and​ ​let
the​ ​teams​ ​drive​ ​the​ ​discovery​ ​process.

2.​ ​Strategy-​ ​pick​ ​your​ ​bets

This​ ​in​ ​the​ ​power​ ​of​ ​the​ ​lens,​ ​convergence​ ​,​ ​bringing​ ​promising​ ​ideas​ ​together
each​ ​initiative​ ​will​ ​need​ ​to​ ​be​ ​evaluated​ ​for​ ​impact​ ​and​ ​revenue​ ​potential
What
Offerings:​​ ​A​ ​company​ ​produces​ ​something​ ​of​ ​value​ ​that​ ​it​ ​offers​ ​to​ ​the​ ​market​ ​place

Brands:​​ ​very​ ​valuable​ ​,​ ​they​ ​are​ ​intangible​ ​and​ ​live​ ​in​ ​the​ ​minds​ ​of​ ​its​ ​customers

Who
Customers:​​ ​the​ ​customers​ ​that​ ​a​ ​company​ ​serves​ ​can​ ​also​ ​provide​ ​an​ ​important​ ​lens​ ​for
focusing​ ​growth​ ​efforts
Partners-​​ ​no​ ​company​ ​is​ ​an​ ​island,​ ​especially​ ​in​ ​today's​ ​connected​ ​and​ ​networked​ ​world.
the​ ​partnerships​ ​and​ ​collaboration​ ​relationships​ ​that​ ​companies​ ​create​ ​to​ ​source,​ ​deliver​ ​and
add​ ​value​ ​to​ ​offerings​ ​can​ ​be​ ​powerful​ ​lens​ ​of​ ​growth

Where
Channels:​​ ​the​ ​distribution​ ​channels​ ​are​ ​the​ ​routes​ ​that​ ​a​ ​company​ ​takes​ ​to​ ​get​ ​its​ ​offerings
to​ ​market.​ ​ ​online​ ​channels​ ​,​ ​retailer​ ​distributors,​ ​value​ ​added​ ​resellers​ ​,​ ​brokers,​ ​kiosks​ ​,
vans​ ​or​ ​mobile​ ​channels.
Markets​:​ ​the​ ​many​ ​and​ ​various​ ​geographic​ ​markets​ ​often​ ​have​ ​different​ ​competitive
environments​ ​,​ ​customer​ ​requirements,​ ​regulatory​ ​context​ ​and​ ​distribution​ ​channels.

How
Monetization:​ ​ ​a​ ​company​ ​has​ ​to​ ​do​ ​more​ ​than​ ​create​ ​something​ ​of​ ​value​ ​-​ ​it​ ​has​ ​to​ ​capture
some​ ​of​ ​the​ ​value​ ​for​ ​its​ ​employees​ ​and​ ​shareholders,​ ​the​ ​way​ ​the​ ​company​ ​makes​ ​its
money

Processes:the​ ​way​ ​work​ ​gets​ ​done​ ​in​ ​a​ ​company,​ ​process​ ​can​ ​be​ ​a​ ​powerful​ ​lens​ ​for​ ​growth
THE​ ​3M’s
We​ ​have​ ​to​ ​prioritize​ ​the​ ​findings
1.Momentum​ ​(winning​ ​potential)​ ​2.​ ​Margin​ ​(profit​ ​potential)​ ​3.​ ​Materiality​ ​(revenue​ ​potential)

Case​ ​study:​ ​kraft​ ​5-10.10​ ​-​ ​10​ ​top​ ​markets-​ ​ten​ ​focus​ ​brands​ ​,​ ​5​ ​products

5​ ​takaways
1. to​ ​decide​ ​which​ ​growth​ ​opportunities​ ​to​ ​pursue,​ ​look​ ​at​ ​the​ ​opportunities​ ​landscape
through​ ​lenses​ ​-​ ​the​ ​dimensions​ ​on​ ​which​ ​a​ ​business​ ​is​ ​defined
2. There​ ​are​ ​eight​ ​lenses​ ​through​ ​which​ ​you​ ​can​ ​focus​ ​the​ ​analysis​ ​of​ ​opportunities​ ​:
offerings​ ​brands​ ​customers​ ​partners​ ​channels​ ​markets​ ​monetization​ ​and​ ​process
3. Choose​ ​a​ ​few​ ​lenses​ ​in​ ​which​ ​the​ ​most​ ​promising​ ​opportunities​ ​come​ ​into​ ​focus
4. The​ ​opportunities​ ​highlighted​ ​through​ ​the​ ​lens​ ​should​ ​be​ ​evaluated​ ​on​ ​the​ ​criteria,
the​ ​three​ ​M’s
 5. In​ ​picking​ ​your​ ​strategy​ ​bets,​ ​don't​ ​expect​ ​to​ ​come​ ​up​ ​with​ ​the​ ​best​ ​strategy,​ ​if​ ​you
can​ ​get​ ​in​ ​mostly​ ​right​ ​move​ ​quickly​ ​and​ ​get​ ​started​ ​on​ ​the​ ​execution

3.​ ​Rallying​ ​cry-​ ​Rouse​ ​the​ ​troops

You​ ​must​ ​communicate​ ​the​ ​plan​ ​with​ ​a​ ​simple​ ​but​ ​compelling​ ​call​ ​to​ ​arms

Rallying​ ​cry​ ​that​ ​enumerate-​ ​where​ ​you​ ​put​ ​numbers​ ​in​ ​the​ ​process,​ ​5-10-10​ ​from​ ​kraft​ ​foods

Rally​ ​cry​ ​the​ ​evokes-​ ​subtle.-​ ​paint​ ​the​ ​world​ ​yellow-​ ​lipton​ ​tea

Rally​ ​cry​ ​that​ ​Emotes-​ ​reaches​ ​their​ ​emotions​ ​,​ ​5x5-​ ​ ​five​ ​years​ ​to​ ​quintuple​ ​or​ ​revenue

Rally​ ​cry​ ​that​ ​Explains-​ ​ ​ ​ ​ ​ ​ ​Indie​ ​Go’s​ ​,​ ​ ​ ​on​ ​time,​ ​low​ ​fares,​ ​hassle​ ​free​ ​ ​,​ ​the​ ​whole​ ​company
is​ ​on​ ​board

These​ ​calls​ ​to​ ​action​ ​have​ ​to​ ​be​ ​done​ ​inside​ ​and​ ​out​ ​and​ ​you​ ​have​ ​to​ ​stay​ ​on​ ​point.

Starbucks​ ​example.
Convenience-​ ​break-​ ​socialization

1. Business​ ​leaders​ ​may​ ​define​ ​strategy,​ ​but​ ​it​ ​needs​ ​to​ ​be​ ​implemented​ ​by​ ​people.​ ​To
convert​ ​strategy​ ​into​ ​action​ ​create​ ​a​ ​rallying​ ​call-​ ​a​ ​hook​ ​that​ ​articulates​ ​the​ ​strategy
and​ ​aligns​ ​people​ ​behind​ ​it
2. The​ ​rallying​ ​call​ ​can​ ​be​ ​a​ ​phrase​ ​,​ ​a​ ​color​ ​,​ ​a​ ​number​ ​an​ ​acronym​ ​a​ ​symbol-
something​ ​simple​ ​yet​ ​vivid​ ​that​ ​brings​ ​the​ ​strategy​ ​to​ ​life​ ​for​ ​everyone​ ​in​ ​the
organization
3. Rallying​ ​cries​ ​serve​ ​five​ ​somethings​ ​overlapping​ ​purposes​ ​to​ ​explain,​ ​enumerate,
evoke​ ​and​ ​elevate
4. Rallying​ ​cries​ ​can​ ​be​ ​applied​ ​at​ ​different​ ​levels​ ​in​ ​a​ ​company,​ ​from​ ​a​ ​business​ ​unit​ ​to
the​ ​entire​ ​organization
5. Rallying​ ​cries​ ​should​ ​be​ ​created​ ​quickly​ ​and​ ​maintained​ ​for​ ​a​ ​long​ ​time​ ​because​ ​the
message​ ​takes​ ​a​ ​while​ ​to​ ​seep​ ​into​ ​an​ ​organization

4.​ ​People-​ ​unleash​ ​potential

Getting​ ​the​ ​best​ ​out​ ​of​ ​people​ ​is​ ​one​ ​of​ ​the​ ​most​ ​important​ ​tasks​ ​of​ ​a​ ​business​ ​leader.
Find​ ​the​ ​right​ ​people,​ ​put​ ​them​ ​in​ ​the​ ​right​ ​jobs​ ​and​ ​get​ ​the​ ​hell​ ​out​ ​of​ ​the​ ​way.

Pick​ ​a​ ​team

passion​​ ​-​ ​have​ ​real​ ​purpose​ ​in​ ​what​ ​they​ ​do​ ​and​ ​devote​ ​unbounded​ ​energy​ ​to​ ​it
High​ ​performance​-​ ​the​ ​understand​ ​the​ ​value​ ​of​ ​working​ ​in​ ​a​ ​team​ ​,​ ​they​ ​find​ ​the​ ​ideas​ ​of
others​ ​contributing​ ​and​ ​stimulating,​ ​but​ ​not​ ​threatening.
Transformational-​​ ​often​ ​permanently​ ​dissatisfied,​ ​but​ ​not​ ​whiners​ ​,​ ​the​ ​are​ ​the​ ​antenna​ ​to
constantly​ ​pick​ ​out​ ​ways​ ​their​ ​world​ ​could​ ​be​ ​better.
DISTORTING​ ​RESOURCES
Take​ ​from​ ​areas​ ​that​ ​are​ ​not​ ​priorities​ ​and​ ​give​ ​it​ ​to​ ​areas​ ​that​ ​are.

THE​ ​BLANK​ ​CHECK

Plan​ ​without​ ​a​ ​defined​ ​budget​ ​or​ ​freedom​ ​for​ ​initiatives​ ​that​ ​have​ ​the​ ​3M’s​ ​and​ ​hold​ ​the
people​ ​accountable​ ​for​ ​quantitative​ ​results​ ​within​ ​a​ ​specific​ ​timeframe.​ ​ ​this​ ​empowers​ ​big
ideas​ ​that​ ​drive​ ​virtuous​ ​cycle​ ​and​ ​change​ ​the​ ​business​ ​trajectory​ ​for​ ​the​ ​long​ ​term.

Example:​ ​we​ ​want​ ​to​ ​double​ ​the​ ​sales​ ​of​ ​that​ ​product​ ​in​ ​1​ ​year

DEALING​ ​WITH​ ​FAILURES

Be​ ​ready​ ​for​ ​things​ ​to​ ​fail​ ​,​ ​hopefully​ ​not​ ​too​ ​much​ ​and​ ​learn​ ​from​ ​the​ ​mistakes.​ ​One​ ​case
was​ ​that​ ​if​ ​the​ ​product​ ​involved​ ​changing​ ​consumers​ ​‘​ ​attitudes​ ​and​ ​behaviors​ ​-​ ​it​ ​is​ ​a​ ​very
lengthy​ ​process.

TIPS​ ​for​ ​Blank​ ​checks

● focus​ ​on​ ​what​ ​matters
● Create​ ​sustainable​ ​growth
● Innovate​ ​broadly
● Simplify​ ​everything
● Dont​ ​overdo​ ​it
● Create​ ​a​ ​family​ ​spirit

1. to​ ​drive​ ​disproportionate​ ​growth,​ ​place​ ​big​ ​ ​and​ ​bold​ ​bets​ ​on​ ​a​ ​few​ ​key​ ​people​ ​to​ ​lead
the​ ​growth​ ​initiatives.
2. In​ ​choosing​ ​leaders​ ​of​ ​the​ ​initiatives,​ ​look​ ​for​ ​people​ ​who​ ​have​ ​passion​ ​and​ ​energy,
who​ ​understand​ ​the​ ​value​ ​of​ ​working​ ​on​ ​a​ ​team​ ​and​ ​who​ ​are​ ​driven​ ​to​ ​improve​ ​and
to​ ​innovate
3. Distort​ ​resources​ ​to​ ​support​ ​growth​ ​initiatives​ ​-concentrating​ ​money​ ​,​ ​people,​ ​skills
and​ ​effort​ ​behind​ ​the​ ​priorities​ ​while​ ​taking​ ​resources​ ​from​ ​non-priority​ ​areas.
4. In​ ​extraordinary​ ​cases,​ ​distorting​ ​resources​ ​can​ ​take​ ​the​ ​form​ ​of​ ​a​ ​blank​ ​check-​ ​an
offer​ ​to​ ​a​ ​select​ ​team​ ​of​ ​almost​ ​unlimited​ ​resources​ ​to​ ​meet​ ​extraordinary​ ​targets
within​ ​a​ ​defined​ ​time​ ​frame.
5. Blank​ ​checks​ ​are​ ​a​ ​way​ ​to​ ​offer​ ​freedom​ ​within​ ​a​ ​framework-​ ​while​ ​the​ ​team​ ​has
broad​ ​authority​ ​on​ ​resources​ ​and​ ​implementation,​ ​every​ ​blank-check​ ​initiative​ ​must​ ​fit
within​ ​the​ ​strategic​ ​framework​ ​and​ ​must​ ​satisfy​ ​the​ ​three​ ​M’s​ ​momentum,​ ​margin​ ​and
Materiality

5.​ ​Execution-​ ​Simplify​ ​and​ ​delegate

Thinking,​ ​talking​ ​and​ ​planning​ ​are​ ​all​ ​fine​ ​and​ ​necessary.​ ​But​ ​following​ ​up,​ ​turning​ ​ideas​ ​into
action​ ​,​ ​comes​ ​as​ ​a​ ​real​ ​test.
Execution​ ​is​ ​the​ ​most​ ​important​ ​step​ ​and​ ​as​ ​well​ ​the​ ​most​ ​difficult.
● Stop​ ​doing​ ​things​ ​that​ ​are​ ​not​ ​aligned​ ​with​ ​the​ ​priorities.
● Simplify​ ​your​ ​organization​ ​and​ ​your​ ​process
 ● Delegate​ ​to​ ​allow​ ​people​ ​to​ ​make​ ​better​ ​decisions
● Start​ ​small,​ ​testing​ ​and​ ​learning​ ​and​ ​then​ ​when​ ​justified​ ​scaling​ ​fast.
Principles​ ​of​ ​Execution

1. Stop​ ​doing​ ​stuff

a. to​ ​get​ ​focused​ ​you​ ​have​ ​to​ ​stop​ ​doing​ ​things​ ​that​ ​take​ ​too​ ​much​ ​effort​ ​to
achieve​ ​very​ ​little.
b. emphasize​ ​distorting​ ​resources-​ ​concentrate​ ​on​ ​business​ ​areas​ ​that​ ​have​ ​real
potential
c. Tim​ ​cook.​ ​apple-​ ​“there​ ​is​ ​no​ ​one​ ​better​ ​at​ ​turning​ ​off​ ​the​ ​noise​ ​around​ ​him”
d. People​ ​stay​ ​busy,often​ ​with​ ​work​ ​that​ ​is​ ​internally​ ​focused,​ ​feeding​ ​the​ ​beast
of​ ​corporate​ ​process.​ ​Endless​ ​time​ ​gets​ ​sucked​ ​into​ ​relentless​ ​cycle​ ​of​ ​self
regard,​ ​think​ ​of​ ​it​ ​as​ ​internal​ ​combustion​ ​that​ ​produces​ ​no​ ​forward​ ​motion.
e. find​ ​that​ ​one​ ​thing​ ​and​ ​then​ ​ask​ ​yourself​ ​why​ ​are​ ​you​ ​doing​ ​all​ ​that​ ​other​ ​stuff.
f. the​ ​first​ ​lesson​ ​of​ ​execution-​ ​stop​ ​doing​ ​things​ ​that​ ​distract​ ​you​ ​from​ ​what​ ​you
really​ ​need​ ​to​ ​get​ ​done
2. Simplify​ ​everything
key​ ​questions
● How​ ​many​ ​layers​ ​does​ ​a​ ​report​ ​go​ ​through​ ​when​ ​working​ ​its​ ​way​ ​from​ ​the
front​ ​lines​ ​to​ ​the​ ​boss?
● Should​ ​it​ ​really​ ​take​ ​so​ ​many​ ​people​ ​to​ ​sign​ ​off​ ​on​ ​an​ ​action?
● Does​ ​every​ ​procedure​ ​have​ ​a​ ​reason​ ​to​ ​exist?
● Is​ ​busywork​ ​keeping​ ​people​ ​occupied​ ​but​ ​adding​ ​questionable​ ​value?
● Are​ ​too​ ​many​ ​people​ ​attending​ ​meetings?
Operating​ ​as​ ​business​ ​as​ ​usual​ ​most​ ​large​ ​companies​ ​take​ ​forever​ ​to​ ​make​ ​a​ ​decision
because​ ​there​ ​are​ ​so​ ​many​ ​layers​ ​of​ ​hierarchy​ ​are​ ​involved.​ ​If​ ​you​ ​want​ ​to​ ​move​ ​fast​ ​,​ ​cut​ ​,
de-layer​ ​and​ ​simplify.

Meetings
1. Did​ ​everyone​ ​absolutely​ ​need​ ​to​ ​be​ ​there?
2. Did​ ​you​ ​waste​ ​time​ ​simply​ ​sharing​ ​information​ ​that​ ​people​ ​could​ ​have​ ​read​ ​on​ ​there
own?
3. How​ ​much​ ​time​ ​was​ ​spent​ ​in​ ​analyzing​ ​what​ ​happened​ ​versus​ ​deciding​ ​what​ ​to​ ​do?
2​ ​key​ ​points​ ​of​ ​any​ ​presentation​ ​:
1. what​ ​was​ ​the​ ​purpose​ ​of​ ​all​ ​of​ ​the​ ​data?
2. what​ ​are​ ​we​ ​being​ ​asked​ ​to​ ​do?
3. Every​ ​presentation​ ​should​ ​have​ ​a​ ​cover​ ​page,​ ​that​ ​summarizes​ ​the​ ​objective​ ​and​ ​the
decisions​ ​or​ ​advice​ ​being​ ​sought.
Keep​ ​in​ ​mind​ ​that​ ​when​ ​you​ ​are​ ​simplifying​ ​or​ ​delayering​ ​you​ ​are​ ​effectively​ ​redirecting
energy​ ​to​ ​endeavors​ ​that​ ​really​ ​count.
3.​ ​Delegate​ ​authority
The​ ​traditional​ ​role​ ​of​ ​leadership​ ​has​ ​changed.​ ​The​ ​old​ ​view​ ​is​ ​that​ ​leaders​ ​are​ ​visionaries
that​ ​have​ ​all​ ​the​ ​answers,​ ​now​ ​leaders​ ​are​ ​more​ ​like​ ​facilitators​ ​who​ ​inspire​ ​their​ ​people​ ​to
find​ ​the​ ​answers.

4.​ ​Accelerate​ ​action​ ​by​ ​starting​ ​small,​ ​testing​ ​and​ ​learning

,scaling​ ​fast
Strategy​ ​involves​ ​thinking​ ​big.​ ​But​ ​at​ ​some​ ​point​ ​you​ ​have​ ​to​ ​descend​ ​from​ ​the​ ​big​ ​picture
thinking​ ​to​ ​the​ ​tactical​ ​details​ ​of​ ​starting​ ​something​ ​quickly.

What​ ​is​ ​execution

The​ ​constant​ ​process​ ​of​ ​giving​ ​pushes,​ ​applying​ ​brakes,​ ​making​ ​turns,​ ​always​ ​adjusting​ ​to
maximise​ ​results.​ ​And​ ​when​ ​you​ ​achieve​ ​success​ ​-​ ​it’s​ ​hitting​ ​sustained​ ​profitable​ ​growth​ ​.
the​ ​task​ ​is​ ​to​ ​drive​ ​execution​ ​with​ ​boring​ ​consistency,​ ​repeating​ ​the​ ​model​ ​that​ ​works​ ​,​ ​while
constantly​ ​seeking​ ​improvements.

5.​ ​What​ ​to​ ​do​ ​if​ ​the​ ​world​ ​changes

What​ ​to​ ​do​ ​if​ ​you​ ​get​ ​disrupted?​ ​like​ ​NOKIA​ ​and​ ​KODAK
The​ ​key​ ​to​ ​success​ ​is​ ​not​ ​to​ ​imitate​ ​your​ ​competition,​ ​but​ ​to​ ​improve​ ​on​ ​it​ ​with​ ​your
company's​ ​expertise​ ​and​ ​technological​ ​advancement.

Lessons​ ​to​ ​be​ ​learned

● While​ ​you​ ​have​ ​to​ ​focus​ ​where​ ​you​ ​can​ ​win,​ ​if​ ​there​ ​is​ ​a​ ​market​ ​disruption,​ ​you​ ​have
to​ ​redefine​ ​your​ ​focus.​ ​But​ ​that​ ​doesn't​ ​mean​ ​abandoning​ ​your​ ​core-​ ​rather​ ​it​ ​means
building​ ​on​ ​your​ ​strengths​ ​to​ ​adjust​ ​to​ ​the​ ​new​ ​normal.​ ​If​ ​that​ ​requires​ ​offering​ ​a​ ​new
product​ ​,​ ​creating​ ​a​ ​new​ ​distribution​ ​system​ ​,​ ​implementing​ ​a​ ​new​ ​production​ ​process
-whatever​ ​-​ ​the​ ​key​ ​is​ ​to​ ​start​ ​small,​ ​test​ ​,​ ​learn​ ​,​ ​and​ ​scale​ ​up​ ​quickly​ ​when​ ​the
results​ ​look​ ​promising.
● Learn​ ​from​ ​your​ ​competitors.​ ​Don't​ ​copy,​ ​but​ ​learn​ ​from​ ​their​ ​experience​ ​and​ ​then​ ​do
something​ ​that​ ​includes​ ​your​ ​strengths​ ​to​ ​compete​ ​at​ ​the​ ​same​ ​level
● The​ ​biggest​ ​threat​ ​to​ ​any​ ​organization​ ​is​ ​complacency.​ ​As​ ​a​ ​leader,​ ​it's​ ​important​ ​to
encourage​ ​internal​ ​disrupters​ ​to​ ​create​ ​a​ ​low​ ​grade​ ​sense​ ​of​ ​impatience​ ​that​ ​can​ ​be
tapped​ ​to​ ​fuel​ ​constant​ ​experimentation​ ​and​ ​testing.
● Ideally​ ​you​ ​are​ ​in​ ​a​ ​continuous​ ​process​ ​of​ ​creating​ ​new​ ​markets​ ​by​ ​providing
consumers​ ​with​ ​products​ ​,​ ​services​ ​and​ ​experiences​ ​they​ ​don't​ ​know​ ​they​ ​need.

5​ ​takeaways
1. Strategy​ ​is​ ​useless​ ​without​ ​execution​ ​-​ ​the​ ​real​ ​test​ ​of​ ​a​ ​leader​ ​comes​ ​with​ ​turning
ideas​ ​into​ ​action.​ ​Execution​ ​gets​ ​bogged​ ​down​ ​when​ ​companies​ ​try​ ​to​ ​do​ ​too​ ​much
decision​ ​making​ ​comes​ ​from​ ​the​ ​top​ ​and​ ​goes​ ​through​ ​too​ ​many​ ​layers.
 2. To​ ​speed​ ​up​ ​execution,​ ​stop​ ​doing​ ​marginal​ ​stuff​ ​-​ ​trim​ ​or​ ​eliminate​ ​initiatives​ ​that
aren't​ ​making​ ​substantial​ ​contributions​ ​and​ ​are​ ​sapping​ ​energy​ ​from​ ​executing​ ​on
what​ ​really​ ​matters.
3. Simplify​ ​by​ ​cutting​ ​bureaucracy,​ ​eliminating​ ​layers​ ​in​ ​decision​ ​making,​ ​and​ ​increasing
the​ ​speed​ ​of​ ​information​ ​flow​ ​across​ ​the​ ​organization.
4. Delegate​ ​authority​ ​by​ ​moving​ ​decision​ ​making​ ​and​ ​accountability​ ​closer​ ​to​ ​customers
and​ ​giving​ ​the​ ​people​ ​responsible​ ​for​ ​results​ ​the​ ​operating​ ​freedom​ ​they​ ​need.
5. Start​ ​small​ ​but​ ​scale​ ​fast.​ ​Get​ ​it​ ​mostly​ ​right,​ ​test,​ ​learn,and​ ​adjust​ ​as​ ​you​ ​go​ ​along.
Once​ ​the​ ​model​ ​works​ ​,​ ​execute​ ​with​ ​boring​ ​consistency,​ ​seeking​ ​continuous
improvement.

6.​ ​Organization​ ​-​ ​Align​ ​and​ ​Collaborate

This​ ​talks​ ​about​ ​matching​ ​skills​ ​and​ ​talent​ ​with​ ​strategic​ ​initiatives,​ ​delegating​ ​authority​ ​and
excelling​ ​in​ ​execution.​ ​People​ ​are​ ​part​ ​of​ ​an​ ​organization​ ​and​ ​in​ ​many​ ​cases​ ​growth​ ​is​ ​not
about​ ​conducting​ ​business​ ​as​ ​usual.​ ​ ​Growth​ ​requires​ ​seizing​ ​opportunities.​ ​ ​The​ ​idea​ ​is​ ​to
create​ ​an​ ​OPPORTUNITY​ ​DRIVEN​ ​ORGANIZATION.​ ​Doing​ ​so​ ​requires​ ​leveraging​ ​all​ ​your
forces​ ​to​ ​achieve​ ​a​ ​competitive​ ​advantage.

Reorganization​ ​is​ ​a​ ​tool​ ​that​ ​should​ ​be​ ​used​ ​with​ ​utmost​ ​care.​ ​It​ ​is​ ​not​ ​the​ ​solution​ ​to​ ​your
problems,​ ​If​ ​you​ ​want​ ​to​ ​change​ ​your​ ​fortunes​ ​,​ ​sometimes​ ​you​ ​have​ ​to​ ​stay​ ​put​ ​and​ ​just
execute.
● Strive​ ​to​ ​be​ ​boringly​ ​consistent​ ​and​ ​relentless​ ​about​ ​execution
● Give​ ​your​ ​strategy​ ​a​ ​fair​ ​chance​ ​to​ ​play​ ​out.

Opportunity.focused​ ​organizations
The​ ​idea​ ​of​ ​focus​ ​applied​ ​to​ ​organizations.​ ​You​ ​can´t​ ​get​ ​the​ ​whole​ ​organization​ ​to​ ​change
what​ ​it​ ​does​ ​well,​ ​which​ ​is​ ​to​ ​pursue​ ​business​ ​as​ ​usual.​ ​But​ ​you​ ​can​ ​create​ ​an
opportunity-focused​ ​organization​.

Example:​ ​IBM-​ ​Emerging​ ​Business​ ​opportunities​ ​program​ ​(EBO)-​ ​with​ ​25​ ​projects

Creating​ ​collaborative​ ​networks

Teams​ ​that​ ​come​ ​together​ ​from​ ​all​ ​over​ ​around​ ​a​ ​common​ ​goal,​ ​is​ ​what​ ​a​ ​company​ ​needs​ ​to
flourish.

The​ ​key​ ​is​ ​to​ ​start​ ​and​ ​innovation​ ​hub​ ​that​ ​works​ ​for​ ​the
● incubating
● launching
● scaling
OF​ ​INNOVATION​ ​INITIATIVES
It​ ​is​ ​important​ ​to​ ​“think​ ​big​ ​but​ ​start​ ​small”

5​ ​characteristics​ ​ ​to​ ​identify​ ​project​ ​potential.

1. They​ ​have​ ​the​ ​Potential​ ​to​ ​be​ ​game-changers​ ​for​ ​the​ ​company
2. They​ ​require​ ​collaboration​ ​across​ ​lines​ ​of​ ​business​ ​and​ ​geographies
3. The​ ​are​ ​potentially​ ​disruptive​ ​to​ ​the​ ​company’s​ ​existing​ ​business.
4. The​ ​cannot​ ​be​ ​brought​ ​to​ ​life​ ​with​ ​the​ ​business-as-usual​ ​mindset​ ​and​ ​culture.
5. They​ ​need​ ​to​ ​be​ ​pursued​ ​with​ ​a​ ​sense​ ​of​ ​urgency.

Fostering​ ​collaboration​ ​through​ ​communication​ ​networks

The​ ​best​ ​people​ ​with​ ​the​ ​best​ ​ideas​ ​need​ ​to​ ​be​ ​connected,​ ​regardless​ ​of​ ​where​ ​they​ ​are
located​ ​on​ ​the​ ​globe​ ​or​ ​in​ ​the​ ​corporate​ ​hierarchy.​ ​ ​Remember​ ​that​ ​companies​ ​are​ ​built​ ​like
elevators​ ​where​ ​the​ ​information​ ​travels​ ​up​ ​and​ ​down.

Example:​ ​inSite​ ​,​ ​Boeing​ ​intranet​ ​that​ ​connects​ ​all​ ​of​ ​the​ ​83,000​ ​employees.

Principles​ ​for​ ​Collaborative​ ​networks

Networks​ ​designed​ ​to​ ​incubate​ ​projects,​ ​not​ ​simply​ ​serve​ ​as​ ​communication​ ​systems​ ​-​ ​often
get​ ​linked​ ​to​ ​big​ ​,​ ​international​ ​companies.

1. Clarity-​ ​who​ ​does​ ​what​ ​and​ ​where​ ​the​ ​responsibility​ ​lies

2. Flexibility-​ ​its​ ​no​ ​longer​ ​important​ ​where​ ​the​ ​office​ ​is,​ ​or​ ​office​ ​hours,
3. Diversity-​ ​as​ ​a​ ​competitive​ ​advantage​ ​that​ ​brings​ ​different​ ​perspectives,​ ​insights,​ ​and
styles​ ​to​ ​the​ ​table
a. Unilever​ ​project​ ​manager​ ​“if​ ​you​ ​are​ ​going​ ​to​ ​agree​ ​with​ ​me,​ ​I​ ​don’t​ ​want​ ​any
of​ ​you”
4. Family-​ ​We​ ​have​ ​to​ ​work​ ​as​ ​a​ ​family,​ ​it​ ​is​ ​interdependent,​ ​decisions​ ​made​ ​with​ ​give
and​ ​take,​ ​the​ ​group​ ​moves​ ​forward​ ​with​ ​consensus.​ ​In​ ​a​ ​collaborative​ ​network​ ​there
are​ ​no​ ​individual​ ​winners​ ​or​ ​losers,​ ​The​ ​members​ ​win​ ​or​ ​lose​ ​as​ ​a​ ​family.
5. Compensation-​ ​the​ ​base​ ​of​ ​compensation​ ​should​ ​stay​ ​the​ ​same​ ​unless​ ​the​ ​member
is​ ​moving​ ​up,​ ​it​ ​is​ ​more​ ​about​ ​bonuses​ ​on​ ​reaching​ ​milestones
6. Resistance-​ ​people​ ​are​ ​usually​ ​more​ ​comfortable​ ​doing​ ​what​ ​they​ ​are​ ​used​ ​to,​ ​so
they​ ​will​ ​resist​ ​change.

5​ ​takeaways
1. If​ ​the​ ​organization​ ​is​ ​working,​ ​don’t​ ​mess​ ​with​ ​it​ ​-​ ​be​ ​boringly​ ​consistent​ ​and​ ​execute.
Reorganize​ ​if​ ​needed,​ ​but​ ​avoid​ ​radical​ ​restructuring​ ​except​ ​as​ ​a​ ​last​ ​resort.​ ​Because
it​ ​can​ ​be​ ​distracting​ ​and​ ​disruptive.​ ​Don’t​ ​keep​ ​changing​ ​for​ ​the​ ​sake​ ​of​ ​change.
2. Drive​ ​growth​ ​by​ ​aligning​ ​the​ ​organization​ ​with​ ​opportunities​ ​and​ ​building​ ​collaborative
networks​ ​that​ ​cross​ ​boundaries,​ ​both​ ​internal​ ​and​ ​external
3. To​ ​align​ ​the​ ​organization​ ​with​ ​opportunities,​ ​consider​ ​creating​ ​a​ ​focused​ ​group​ ​that​ ​is
expressly​ ​designed​ ​to​ ​pursue​ ​growth​ ​opportunities.
 4. To​ ​work​ ​around​ ​organizational​ ​silos,​ ​create​ ​collaborative​ ​networks,​ ​physical​ ​as​ ​well
as​ ​virtual-​ ​that​ ​can​ ​improve​ ​the​ ​lateral​ ​flow​ ​of​ ​information​ ​across​ ​company​ ​wide
boundaries.
5. International​ ​operations​ ​ ​should​ ​maximise​ ​growth​ ​by​ ​going​ ​glocal-​ ​that​ ​is​ ​,​ ​balancing
local​ ​talent,​ ​with​ ​its​ ​front​ ​line​ ​knowledge​ ​of​ ​consumers,​ ​business​ ​practices,​ ​and​ ​other
on​ ​the​ ​ground​ ​elements,​ ​with​ ​the​ ​mother​ ​ship’s​ ​global​ ​expertise​ ​and​ ​resources.

GLOCAL-​ ​balance​ ​between​ ​Mindlessly​ ​global​ ​and​ ​hopelessly​ ​local.

Global
● Procurement
● Capital​ ​investments
● Global​ ​talent​ ​development
● Brand​ ​essence
● Corporate​ ​R&D
Local
● Sales​ ​Execution
● Pricing​ ​and​ ​Promotions
● Localized​ ​Product​ ​Development
● Localized​ ​manufacturing
The​ ​key​ ​is​ ​to​ ​find​ ​a​ ​sweet​ ​spot​ ​between​ ​mindlessly​ ​global​ ​and​ ​hopelessly​ ​local,​ ​and​ ​we​ ​call
that​ ​Glocal.​ ​Global​ ​expertise​ ​with​ ​local​ ​context
Drivers​ ​that​ ​you​ ​have​ ​to​ ​determine​ ​whether​ ​they​ ​will​ ​be​ ​global​ ​or​ ​local
● Positioning
● Advertising​ ​execution
● Product
● Procurement
● Technology
● Processing
● Sales
● Capital
.

7.​ ​Metrics​ ​-​ ​measure​ ​and​ ​communicate​ ​progress

Example​ ​,​ ​what​ ​is​ ​better,​ ​take​ ​a​ ​trip​ ​and​ ​spend​ ​10​ ​hr​ ​ ​and​ ​get​ ​50mpg​ ​or​ ​7​ ​hr​ ​and​ ​get​ ​40mpg
What​ ​you​ ​measure​ ​depends​ ​will​ ​depend​ ​on​ ​what​ ​you​ ​want​ ​ot​ ​manage.

When​ ​we​ ​look​ ​at​ ​a​ ​company

● Revenue​ ​growth​ ​or​ ​top​ ​line​ ​-​ ​drive​ ​market​ ​share​ ​and​ ​revenue
● Bottom​ ​line-​ ​cost​ ​reduction,​ ​productivity,​ ​operational​ ​efficiency
● Metrics​ ​can​ ​be​ ​Backward​ ​looking​ ​(rear​ ​mirror)​ ​past
● Metrics​ ​can​ ​be​ ​forward​ ​facing​ ​(windshield)​ ​present​ ​and​ ​future
The​ ​point​ ​is​ ​to​ ​find​ ​the​ ​right​ ​balance​ ​for​ ​the​ ​task​ ​you​ ​are​ ​measuring.

Lesson​ ​1-​ ​the​ ​simpler​ ​the​ ​metric​ ​the​ ​easier​ ​it​ ​is​ ​to​ ​manage.
Lesson​ ​2-​ ​Progress​ ​should​ ​simply​ ​be​ ​measured​ ​it​ ​has​ ​to​ ​be​ ​communicated​ ​through​ ​stories
of​ ​success​ ​or​ ​stories​ ​of​ ​failure​ ​can​ ​also​ ​motivate.

Ground​ ​metrics​ ​in​ ​goals

If​ ​you​ ​don’t​ ​know​ ​where​ ​you​ ​are​ ​going​ ​,​ ​then​ ​it​ ​doesn’t​ ​matter​ ​which​ ​way​ ​you​ ​go.
To​ ​know​ ​your​ ​milestones​ ​you​ ​need​ ​to​ ​know​ ​where​ ​you​ ​are​ ​going.
Metrics​ ​owe​ ​their​ ​origin​ ​to​ ​the​ ​goals​ ​a​ ​company​ ​set​ ​for​ ​itself.
The​ ​choice​ ​of​ ​metrics​ ​are​ ​directly​ ​connected​ ​to​ ​the​ ​goals​ ​you​ ​select.

How​ ​do​ ​we​ ​define​ ​progress?

What​ ​metrics​ ​should​ ​we​ ​manage​ ​to____?​ ​ ​(your​ ​goal)

NOTE-​ ​Instagram-Waze-Twitter-snapchat​ ​have​ ​multimillion​ ​dollar​ ​valuations​ ​and​ ​have​ ​little

or​ ​no​ ​revenue,​ ​or​ ​profits.​ ​The​ ​game​ ​is​ ​about​ ​the​ ​number​ ​of​ ​eyeballs​ ​you​ ​attract.
(Grow​ ​the​ ​user​ ​base​ ​at​ ​any​ ​cost,​ ​even​ ​if​ ​you​ ​give​ ​away​ ​the​ ​platform)

ONCE​ ​YOU​ ​KNOW​ ​WHERE​ ​YOU​ ​WANT​ ​TO​ ​GO​ ​THE​ ​METRICS​ ​BECOME​ ​EVIDENT

Keep​ ​metrics​ ​balanced

Have​ ​a​ ​scorecard​ ​of​ ​performance​ ​and​ ​progress
● revenue
● gross​ ​profit​ ​margin
You​ ​have​ ​to​ ​decide​ ​whether​ ​you​ ​want​ ​to​ ​measure​ ​progress​ ​(forward​ ​looking)​ ​ ​or
performance​ ​(top​ ​and​ ​bottom​ ​line​ ​growth)

Innovation
1. iPipeline
2. iRevenue
3. External​ ​operating​ ​profit​ ​lift

Keep​ ​Metrics​ ​simple

a​ ​common​ ​pitfall​ ​is​ ​setting​ ​too​ ​many​ ​objectives​ ​and​ ​them​ ​ordering​ ​up​ ​too​ ​many​ ​ways​ ​to
measure​ ​them.

Signs​ ​of​ ​bad​ ​metrics​ ​systems

1. You​ ​spend​ ​more​ ​time​ ​reporting​ ​and​ ​analyzing​ ​than​ ​taking​ ​action
Remember​ ​that​ ​measurement​ ​and​ ​benchmarking​ ​are​ ​important.​ ​A​ ​scorecard​ ​should​ ​be​ ​on
one​ ​page.

How​ ​to​ ​formulate​ ​your​ ​metrics

The​ ​numbers​ ​on​ ​your​ ​scorecard​ ​need​ ​to​ ​connect​ ​directly​ ​to​ ​the​ ​strategic​ ​objectives.
You​ ​have​ ​to​ ​measure​ ​what​ ​you​ ​should​ ​be​ ​doing.
Metrics​ ​should​ ​come​ ​with​ ​milestones​ ​attached.
And​ ​dates​ ​for​ ​specific​ ​goals​ ​to​ ​be​ ​achieved.
You​ ​must​ ​have​ ​short​ ​term/Long​ ​term
Formulate​ ​your​ ​metrics​ ​around​ ​these​ ​three​ ​questions
1. What​ ​do​ ​we​ ​measure?
2. When​ ​do​ ​we​ ​measure​ ​it?
3. Who​ ​gets​ ​involved?

Communicate​ ​progress​ ​through​ ​story​ ​telling

Numbers​ ​are​ ​only​ ​part​ ​of​ ​the​ ​game!
Progress​ ​is​ ​also​ ​measured​ ​by​ ​events​ ​and​ ​incidents​ ​that​ ​are​ ​relevant​ ​to​ ​the​ ​company's​ ​goals
and​ ​that​ ​touch​ ​the​ ​emotions​ ​of​ ​stakeholders.
Nothing​ ​compares​ ​with​ ​telling​ ​a​ ​story.​ ​stories​ ​stick​ ​and​ ​people​ ​remember​ ​them.
The​ ​key​ ​point​ ​is​ ​that​ ​every​ ​story​ ​has​ ​to​ ​have​ ​a​ ​purpose.​ ​ideally​ ​the​ ​story​ ​should​ ​point​ ​to​ ​the
action​ ​to​ ​change​ ​the​ ​business​ ​trajectory.​ ​while​ ​inspiring​ ​the​ ​company​ ​talent.
Tell​ ​us​ ​about​ ​your​ ​accomplishments​ ​but​ ​do​ ​it​ ​without​ s ​ peechifying​.
Reality​ ​is​ ​a​ ​vital​ ​quality,​ ​Life​ ​goes​ ​through​ ​good​ ​and​ ​ba,​ ​businesses​ ​endure​ ​ups​ ​and​ ​down.

5​ ​takeaways
1. Measure​ ​progress​ ​with​ ​numbers​ ​that​ ​quantify,​ ​inform,​ ​and​ ​speak​ ​to​ ​the​ ​mind.​ ​At​ ​the
same​ ​time,​ ​communicate​ ​progress​ ​through​ ​stories​ ​the​ ​instruct,​ ​compliment,​ ​inspire
and​ ​speak​ ​to​ ​the​ ​heart.
2. Metrics​ ​need​ ​to​ ​be​ ​simple-​ ​measure​ ​only​ ​a​ ​few​ ​things​ ​that​ ​really​ ​matter​ ​so​ ​that
people​ ​know​ ​what​ ​the​ ​game​ ​is​ ​and​ ​how​ ​you​ ​are​ ​keeping​ ​score.
3. Metrics​ ​need​ ​to​ ​be​ ​grounded​ ​in​ ​strategic​ ​goals,​ ​what​ ​you​ ​measure​ ​depends​ ​on​ ​what
you​ ​want​ ​to​ ​manage​ ​and​ ​achieve.
4. Metrics​ ​need​ ​to​ ​be​ ​balanced​ ​so​ ​that​ ​you​ ​measure​ ​different​ ​facets​ ​of​ ​progress​ ​and​ ​are
forced​ ​to​ ​consider​ ​trade​ ​offs​ ​among​ ​the​ ​different​ ​facets.
5. Progress​ ​needs​ ​to​ ​be​ ​communicated​ ​through​ ​stories​ ​that​ ​celebrate​ ​success​ ​and​ ​help
foster​ ​a​ ​culture​ ​of​ ​winning​ ​in​ ​the​ ​organization.

8.​ ​Avoiding​ ​the​ ​Pitfalls

1. Fix​ ​before​ ​you​ ​scale

5​ ​takeaways
1. before​ ​you​ ​proceed​ ​full​ ​tilt​ ​on​ ​transformational​ ​growth​ ​initiative,​ ​carefully​ ​assess
whether​ ​you​ ​have​ ​a​ ​robust​ ​business​ ​model​ ​in​ ​place-​ ​you​ ​need​ ​to​ ​fix​ ​the​ ​model​ ​before
you​ ​scale.
2. Focusing​ ​on​ ​priority​ ​businesses​ ​does​ ​not​ ​mean​ ​ignoring​ ​nonpriority​ ​businesses.
Segment​ ​the​ ​portfolio​ ​of​ ​nonpriority​ ​businesses​ ​into​ ​quasi-start​ ​ups​ ​to​ ​be​ ​managed
 autonomously,​ ​cash​ ​cows​ ​to​ ​be​ ​milked​ ​for​ ​resources​ ​to​ ​fund​ ​growth​ ​and​ ​dogs​ ​to​ ​be
divested​ ​within​ ​a​ ​defined​ ​time​ ​frame.
3. Cost​ ​cutting​ ​is​ ​central​ ​to​ ​Focus​ ​7​ ​approach,​ ​but​ ​cut​ ​selectively​ ​,​ ​no​ ​mindlessly.​ ​With
careful​ ​benchmarking​ ​focus​ ​cost​ ​cutting​ ​on​ ​areas​ ​that​ ​are​ ​bloated​ ​and​ ​bureaucratic
and​ ​be​ ​cautious​ ​of​ ​cutting​ ​back​ ​on​ ​talent​ ​and​ ​brand​ ​assets.
4. Strategy​ ​needs​ ​to​ ​be​ ​given​ ​time​ ​to​ ​work-​ ​resist​ ​the​ ​temptation​ ​to​ ​jump​ ​on​ ​to​ ​the​ ​next
thing.​ ​Within​ ​a​ ​consistent​ ​and​ ​clear​ ​strategic​ ​framework,​ ​however​ ​,​ ​stay​ ​agile​ ​in
tactics​ ​and​ ​execution.
5. When​ ​you​ ​hit​ ​bumps​ ​in​ ​the​ ​road​ ​in​ ​Focus​ ​7​ ​initiatives,​ ​don’t​ ​panic​ ​-​ ​hold​ ​the​ ​larger
picture​ ​in​ ​view.​ ​leaders​ ​need​ ​to​ ​maintain​ ​an​ ​upbeat​ ​tone​ ​and​ ​keep​ ​the​ ​morale​ ​of​ ​the
team​ ​high​ ​to​ ​get​ ​through​ ​the​ ​tough​ ​times.

9.​ ​Creating​ ​the​ ​virtuous​ ​cycle

The​ ​core​ ​message​ ​is​ ​to​ ​sustain​ ​profitable​ ​growth​ ​and​ ​in​ ​fact​ ​accelerate​ ​it.

Growth​ ​that​ ​builds​ ​upon​ ​itself​ ​and​ ​fuels​ ​further​ ​growth

THE​ ​VIRTUOUS​ ​CYCLE

1. Grow​ ​the​ ​top​ ​line​ ​faster​ ​than​ ​your​ ​competition​ ​and​ ​grow​ ​the​ ​bottom​ ​line​ ​faster​ ​than
your​ ​top​ ​line.

Focus​ ​where​ ​you​ ​can​ ​win

A​ ​good​ ​leader​ ​in​ ​this​ ​process​ ​will​ ​identify​ ​what​ ​will​ ​deliver​ ​the​ ​greatest​ ​return​ ​with​ ​the​ ​least
amount​ ​of​ ​effort​ ​and​ ​invest​ ​behind​ ​those​ ​top​ ​performers.