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Sep 08
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Why Having A Board Is Important For Your Small Business

By Business Management Leadership Strategy No Comments

Having an advisory board isn’t only for big businesses. And although it might seem like a waste of time, money and energy to have one – any entrepreneur and their business can benefit from the many advantages that come with them.

Ultimately, the purpose behind having a board is to gather experienced and compatible individuals that offer you valuable advice, guidance and insight with the intention to develop and enhance your organisation.

They ideally consist of a team of educated and proficient people that share a common goal:

To help your business flourish.

That’s why – no matter how small your business may be – you need a board of advisors.

“I’m Capable Of Creating A Business, So Why Would I Need A Board?” 

By understanding that boards only exist to help with the success of your company and not to trample on your goals and ambitions, you’ll come to learn that the advantages of having one will always outweigh any of the perceived disadvantages.

As a business coach, I usually deal with companies that are run by a single entrepreneur (often consisting of a 5-50 man operation) and I’m always shocked to find that a large portion of my clients perceive boards as counter-productive, with a firm belief that having one will slow the company down.

This couldn’t be further from the truth.

Boards usually consist of hand-picked, like-minded individuals that come together to discuss, plan and implement strategies and processes to improve both you and your business. Their purpose is to set certain goals and outcomes that the company needs to achieve, while looking at the different approaches and actions that need to be taken in order to achieve those goals.

Many business owners run into a variety of challenges that come with operating their business: a lack of growth; finding new direction; coming up with new ideas; being lonely at the top; detecting problems and red flags; a loss of vision and creativity; and even being an effective leader.

These problems, along with many others, can be remedied by setting up an advisory board in your company. An advisory board usually consists of experienced and professional individuals that are often paid to provide the guidance, feedback and network that’s needed to nudge a business in the right direction.

These experienced individuals usually include: existing entrepreneurs, lawyers, accountants, a mentor/coach (like me), and even an existing or potential customer/client.

By forming a team that consists of people with these backgrounds, you’re kept accountable and focused on the steps that need to be taken in order to achieve greater success within the company. It also acts as a much needed eye-opener, showing you that your resources and experiences are both limited and limiting.

When I recommend setting up a board to some of my clients, they often argue that they’re far too small to have a board. But I push back and remind them that no business is too small and that with the right mix of people, they’re sure to find the exponential growth that they seek.

Being a business coach means that I often sit on various boards where I provide advice, feedback and guidance for entrepreneurs. I help them identify the direction that they want to take their business in, making sure that they have a clear, straightforward plan and are sticking to that plan. I also ensure that they take things seriously and that they’re held accountable for their actions or inaction.

The benefits of having a board are plenty. You’re given feedback and transparency; support and accountability; honesty and a sense of comfort; and access to resources and new networks.

Another huge advantage of having experienced individuals on your board is that you’re able to learn from their past mistakes.

While you might see an opportunity or have an idea that seems perfect – they might have gone down similar rabbit-holes or made the mistake of chasing shiny pennies. They’re able to prevent you from dealing with any embarrassment or failure.

Together with a powerful, hand-picked board, you’re able to avoid risks that you would’ve taken on your own; you’re able to create improvements around policies, processes and overall workflow; you have the opportunity to enhance your identity through personal growth and exposure. There are certainly far more benefits to having a board, especially in comparison to doing things on your own.

What is there to think about? Get a board of advisors and be advised. Take advantage of the networking and resources that they make available to you. You’ll be pleasantly surprised.

Whether or not you’re looking at setting up an advisory board for your business – I can be of assistance to you.

Most of the amazing benefits that come with having a board can be provided by yours truly.

And if I’m your business coach, you’re immediately given access to a massive network, as well as peace of mind where strategy, advice and accountability are concerned.

With my experience as a business owner, I can also steer you in the right direction – helping you avoid the mistakes that many entrepreneurs make, while keeping you motivated and excited about the future of your company.

Take action. Throw me into your board of advisors, or keep me as your secret weapon:

+2783 253 3339

brent@spillly.com

Aug 24
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6 Great Models To Attract Recurring Revenues

By Business Management Sales Strategy No Comments

Too many entrepreneurs think long and hard about finding the simplest ways to generate money through their product or service. But what they often fail to realise is that the way in which they package their solution will ultimately determine how sticky, profitable and attractive their product/service is to the customer.

And one of the smartest ways to package your product more effectively is through the pricing and revenue model that you choose to offer.

That being said, here are a few of the top revenue models that could transform your business into a gold mine.

Why Your Choice of Revenue Models Is So Important 

A revenue model is the approach your business takes to earn revenues. After establishing your value proposition and the set price(s) of your product or service, the next step is to figure out how your client or customer is going to pay for it.

That’s why having a good revenue model ensures that your business is able to make long-term projections based on current and future profit potential. This will aid you in extracting the best possible returns for your company, while retaining clients through the use of subscriptions, contracts and the sunk cost fallacy.

Sunk cost what?

The sunk cost fallacy (or sunk cost bias) refers to the justification we give ourselves when buying an expensive dinner, finishing a movie that we don’t necessarily enjoy, or remaining a loyal customer to a brand that we’ve already been with for years (even if there are better options out there).

Putting money, energy or time into something means that we inherently develop a bias towards it and are willing to ignore any pitfalls or failures that could motivate us to change our minds.

While it might sometimes be unfortunate for us as consumers, clients or customers, it certainly works in the favour of any business owner. Conversion rates can be increased, contractual obligation can maintain profits, upselling can be amplified, and client retention can be improved by simply being aware of this cognitive bias.

So choosing the ideal revenue model for your company will enable more consistent profits and a far more loyal customer base.

And the great part is that there are a number of promising options to choose from.

As a business coach that cares so much about your success, I’ve taken the time to sift through some of the best models out there and rank them from the least beneficial to the most.

Let’s check them out:

The Top 6 Revenue Models

1. Consumables:

These are your typical consumables (whether a product or service) that generally get purchased once, twice or three times a month or even every few months.

Think of products like coffee, milk and bread, or services like electricity, gardening or cleaning; these ‘consumables’ work well once you’ve established customer loyalty, which will ensure that you’re bringing in a recurring revenue.

2. Sunk-Money Consumables:

By making use of the sunk cost fallacy, this model is based on offering a product or service that requires an additional item or clause in order for that product or service to  operate or function effectively.

Basically, you offer a base product/service that’s quite affordable (a Gillette razor handle, gaming console, or a dating site) and then provide additional items or functions that the base product needs for it to be of any use (Gillette razor blades, games, or in-app currency for extra purchases).

With this type of model, you ensure recurring revenue based on customers’ reluctance to give up on something that they’ve already invested in. You wouldn’t buy that gaming console without feeling the need to buy games for it; or sign-up for a dating service and be limited to one message per day, when you can pay to receive more messages.

3. Renewable Subscriptions:

One of the most common and effective recurring revenue models would be through the use of renewable subscriptions. By incurring a monthly fee (a subscription), you ensure that the client or customer is bringing in revenue on a monthly basis and has the opportunity to renew their subscription at the end of a certain period.

This model is usually a win-win, as the customer perceivably pays less to own a product or use a service, while the business owner has a more stable and predictable source of revenues (especially when compared to consumables).

A great example could be a cell phone contract or streaming platform like Netflix.

4. Sunk-Money Renewable Subscriptions:

This model has the customer invest in a base product or service that has additional premium features that are offered on a subscription basis.

By taking renewable subscriptions and adding an element of sunk-costing to it, you guarantee more recurring revenue options. When you purchase a device (e.g. an Apple TV) or a service platform (e.g. a Bloomberg terminal), you’ve already sunk money into it, so you’re more likely to purchase exclusive additions for it, such as an Apple One subscription for the TV or a business publication subscription for the Bloomberg terminal.

It takes advantage of the sunk-cost bias and blends it with renewable subscriptions.

5. Automatic-Renewal Subscriptions:

By taking renewals into your own hands and making the process automatic, you allow for a much better recurring revenue.

Instead of letting the customer renew their subscription after a period of time (say, a year), you automatically renew it until they choose to end it. This way, customers are more likely to stay, as they don’t bother looking at competitive prices and you make the renewal process easier for them.

Think about gym memberships or insurance firms that keep renewing your subscription until you’ve made the decision to terminate the agreement.

6. Contracts:

Long-term contracts are highly beneficial for maintaining a recurring revenue that can’t be challenged or disputed. It ensures an ethical agreement between both parties that a certain amount will be paid within a particular period of time in exchange for goods or services.

This model is a great choice, especially if you’re able to get customers to come on board for a long period of time. If you’re planning to sell your business, then ensuring that a survival clause is present will help keep customers from leaving after a change of ownership takes place.

*Bonus Model: “Rundles” 

This new approach coined by NYU professor, Scott Galloway, takes a recurring revenue model like renewable subscriptions and blends it together with bundling.

Bundling basically entails putting multiple services or products together and selling them at a ‘better price’. This extends to products/services that might not be very popular and putting them together with more favourable ones, then selling them as a package.

With “rundling”, you take those two concepts and form an approach that has seen huge returns. I’m talking billions of dollars in revenues and millions of customers migrating to platforms that offer recurring revenue bundles or “rundles”.

A great example of this is the way in which Apple has offered services like iCloud and Apple Care, then bundled them with entertainment services (Apple Entertainment and Music) under one affordable subscription model.

Companies like Adobe and Walmart are also jumping on this lucrative bandwagon to bring in the big bucks. It’s most certainly one of the best recurring revenue models taking over many industries and I’d highly recommend looking into it.

If you’re looking at your product or service and thinking, “how do I apply one of these models to best suit my business?”, then I’ll let you in on a little secret:

Taking me on as a business coach means that I can help you identify exactly what will work best for you and your company.

It takes DICE (determination, interest, compassion and experience) to move a company forward, both on a micro- and macro-level.

And I’ve got all the DICE you need!

So do yourself a huge favour and start communicating with me as soon as you’re ready for a better future:

+2783 253 3339

brent@spillly.com

May 13
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Selling Your Business? Well, Here’s What Buyers Look For

By Business Management Consulting Entrepreneur No Comments

I often call bullshit for the litany of reasons that people sprinkle on me for wanting to start a business; talking about wanting to make an impact on the world, a dent in the universe, change and better lives… Such a load of crap!

Spare me the soft, fluffy and sordid motivations behind starting a business, we all know that often, the biggest driving force behind that decision is money – cold, hard cash.

9 times out of 10, people predominantly want the wealth and power that comes with owning and running their own business; perhaps enjoying the journey along the way, while making a positive impact and supporting people in that venture of self-discovery.

When digging deeper, though, I find that quite a sizable portion of my clients have the goal of creating a business just to sell it down the line, cash out and then retire with millions in the bank.

These people often don’t go in with the right mindset to approach that in the best possible way – that’s where I come in.

Cut The Bullshit; Let’s Call A Spade, Well, A Spade.

By identifying that your mission is to ultimately work on creating a great business in order to sell it 3, 5 or even 7 years down the line, you’re already on the right track to discovering what it might take to find the right buyer.

A lot of people try to build a business with the sole intention to sell that business. There is absolutely nothing wrong with doing that and I will often push for my clients to find the right way to go about it, if that’s really what they want.

As a business coach and having successfully owned and run a few great businesses, myself; I know how to make a business run beautifully, but I also know a gorgeous opportunity when I see one.

Clients will often approach me and tell me that that’s what they want to do, the route that they want to take and I make them ask themselves a few important questions, “firstly, what does the buyer of your business, in five years, look like?”. You should ask yourself what kind of business or buyer will want to buy your business and what makes your business attractive to them.

It’s absolutely crucial to put yourself in the buyer’s shoes and define what it is that you’re looking for if you were the one wanting to buy a business.

What To Flaunt In Your Business, So That You Find The Right Buyer

There are numerous factors to consider when looking at it from the buyer’s perspective and you should ensure those factors cross your mind in some way or the other, so that you make the most desirable and mouth-watering business, possible.

Most of my clients run businesses that provide the service of selling time, so the approach is fairly different to all enterprises, but many of these aspects can be applied to one that is product-based, as well.

To flaunt that sexy business of yours, you want to take note of a few very important things, such as brand value and how valuable or desirable your brand is; how deep your defensible moat is in protecting the business; the lifetime value and scale of your clients/customers; how stable your profits are; and the overall quality of your product and clients.

There’s plenty more to be discussed and it will turn your company from a typical, boring 6 to a desirable, gorgeous catch of a 10!

Starting with brand value: in the past, I was offered a very tempting amount by a large multinational to buy one of my product lines; interestingly enough they didn’t want product, stock, people, nor the assets – they simply just wanted the labels and the brand. It fascinated me that all they wanted was to take over the IP and this taught me the real value of the brand that you present to the world. The way your business looks, is presented and talked about is crucial in selling to a potential buyer.

In creating a product or service that is difficult to replicate or duplicate, one that is expensive for anyone to hop into the same market and to compete with; you begin to form an impenetrable moat around your business, so that it becomes even more desirable to the buyer. Vertical integration (do you own the service, product, supply chain, outlets?) will make that moat run even deeper, like a bottomless pit. The more vertical integration there is, the more stable you are and the more likely your business will sell.

Next, your clients become just as important: as long-standing customers that bring lifetime value and a stable income are golden-nuggets to the buyer. If your overheads are always covered and there’s a consistent flow of profit coming in, the likelihood of making that big sale increases drastically.

Do you have all of the necessary contracts in place? Contracts between you and your clients, between you and your suppliers and any other stake-holders in your business are all of value to the buyer. Ensure that all of those contracts are rigorous, so that no unforeseen circumstances rock-up and that nobody can just walk away with no obligations.

Take a stroll down memory lane – generally around the last 3-5 years – and determine how consistent your profits and revenues are, while identifying whether or not they are continuing to grow, or if they are in decline. The person that wants to buy your business is ideally looking for consistent (and consistently growing) profits. Having one great year and one shockingly bad year will make any potential buyer a nervous and reluctant wreck. It also doesn’t hurt if your revenues and profits are higher than that of your competitors.

Quality clients are also very attractive – do you supply large multinationals, do you supply large, comfortable and secure businesses? Or do you supply lots of bottom-feeders that tend to be inconsistent and unpredictable? These questions can make or break the attractiveness of the business. If you have consistent annuity-based clients with great reputations, you will tickle the buyer’s taste buds.

If you have intellectual property, or proprietary technology that’s patented and protected; a stable management team with trustworthy and reputable leaders that are suitable for advancement in your business; and a variable overhead, where the staff and employee-base is small enough to cut back on and find freelance work if crises like Covid might arise: you’re on the right track to finding the most suitable buyer for your business.

Most buyers also look at geographical reach and whether or not you dominate only one province, or city, or if your reach extends to the entire country or even a global customer-base; also, an excellent and high NPS (Net Promoter Score) that indicates how likely your clients, customers and staff are to refer you and whether or not they adore and believe in your business, willing to spread your brand like unrelenting Jehovah’s Witnesses.

It doesn’t end there, trust me.

Synergy also becomes important to the buyer, as potential savings are always a major benefit to them. If the buyer has the option to immediately save money by removing some of your costs, because they already have it built into their business, it becomes more desirable. An example might be that your business and theirs have a full-time server, where they can transfer everything to one of the two and cut back on some of the costs of operating both. This can also extend to particular staff that both businesses might have, like a bookkeeper that can be let go of, because they already have one, or in the delivery of products and distribution (instead of using two trucks, transport duties can be shifted to one).

Is your solution plug and play, that it solves the buyer’s needs so that they can plug your solution into their client-base with ease?; what is the level of automation in your processes and policies, so that there isn’t huge reliance on extra employees, that it is fully-functional and works fluidly without too much human interaction; and does your USP differentiate you in the market and is it very obvious to the potential buyer?

Finally, does your business sit in a ‘blue ocean’ marketplace? Is it in a clean environment that has plenty of opportunity to dominate that market or industry, or does it sit in a ‘red ocean’ market that is surrounded by constant competition, rivalry and challenges? It’s far more attractive if the buyer doesn’t have to deal with strong competitive forces and can dominate that area with far more ease.

Throw All Of Those Ingredients Into The Crucible

 In taking all of those elements into deep consideration, you create a solid business that any buyer would leap at the opportunity to acquire it from you.

Your goal is to make it as attractive to the potential buyer as humanly possible. By paying such careful attention to what they would be looking for in a business, you’re able to create the most impressionable and desirable set of circumstances to sell.

Now, with you filling the shoes of a prospective buyer, are there any other important things to consider when looking to buy a business? What else would have you gunning for the opportunity to take over such a high-potential company?

I want you to walk away that much richer, having made the right decisions behind selling your business and for the highest possible amount. All of this with the peace of mind that both you and the buyer will be happy with the decision you’ve both made.

Who knows, maybe if you tick all of those boxes correctly, you might find that your business is a keeper and end up hogging it all to yourself.

If you’re looking to sell your business and are in need of an evaluation, based on what I’ve talked about, definitely hit me up. We can run through your goals in attracting and manifesting the most suitable buyer and what exactly it’ll take to sell, effortlessly.

I’m a phone or video call; a lunch or a quick beverage; a whatsapp or an email away from making your dreams a reality:

+2783 253 3339

brent@spillly.com

 

 

Apr 08
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5 Leadership Types – What Type Of Leader Are You?

By Business Management Coaching Leadership No Comments

Being a great leader can be challenging. Nobody is born with some miraculous gene that grants them the ability to lead and also be effective at it. To be a leader means that you need to have attributes like patience, curiosity, interest and determination, so that you’re able to create a positive impact on those that you lead towards a collective goal.

But there are many different types of leaders.

Some are more aggressive than others, some more understanding and open-minded, some are strict and some are lenient; but they all have one thing in common: the ability to foster action and mobility while creating an impact on the lives of others.

While I deal with so many different personalities and leadership styles as a business coach, I’ve come to learn that being aware of each person’s approach to leadership is extremely important in developing and strengthening their business, as well as their people.

So, I’ve done a bit of research and listed the top leadership types that exist so that you, as the business owner, can find those that you resonate with in order to develop and enhance your approach to leadership. Let’s dive right in.

 

5 – The Autocrat

The autocratic leader is usually authoritarian in nature. While they’re a bit more aggressive, they tend to delegate the tasks and jobs that need to be done, so that workers listen and do as they’re told.

This style of leadership works well because it saves time and provides much-needed clarity around objectives, goals and outcomes. There are also fewer errors in strategy implementation, as less people are involved in the strategic process – which often brings about much better results.

However, the down-side to this style of leadership is that employees feel undervalued and easily replaceable. It leaves them less motivated and far more likely to rebel against either the leader or the company, which usually results in lower levels of productivity and morale, and increased levels of office politics and infighting.

Using this approach in high-risk environments can be quite effective, as there is usually no room for errors or mistakes to be made. However, it usually fails in educational and creative environments, where people need a lot more freedom and independence to give good ideas and feel heard.

 

4 – The Democrat

This approach to leadership is significantly different to that of the autocratic leader. They make sure to involve team-members in the decision-making process and give them the opportunity to voice their thoughts and opinions. Most of the time, this type of leader has the final say, but values and embraces the input from employees and the team as a whole.

The only problem with it is that it can be quite time-consuming to take in every individual’s ideas and thoughts which can often lead to poor choices if the team or its members are inexperienced or unskilled in any way.

With this approach, the upside is that there is far more motivation from employees, as they feel valued and respected. It allows for the accumulation of different perspectives and approaches, rather than relying on one person to provide his/her viewpoint.

It works really well for those smaller teams or any team that has highly skilled and experienced members which can bring value to the decision-making.

 

3 – The “Let Them Do” Leader (Laissez-Faire) 

The complete opposite of the autocratic leader. This approach doesn’t usually fulfil the typical role of a leader, as everyone’s input is deemed valid and equal. Ultimately, they leave the decision-making up to their team members, giving teams complete trust in their abilities to motivate themselves and navigate the business effectively.

While this style seems quite favourable, it often leads to confusion, delays and slow-progress – especially in strategic planning. It also hampers individual development, as people become reliant on their own ideas and thoughts, rarely looking to improve themselves.

However, this approach can be great in that it helps team members feel valued, heard and appreciated. It empowers employees and leaves them with a greater sense of confidence and autonomy, as they feel capable of handling the work on their own without being pressured and undermined.

This approach works very well in teams with highly-skilled individuals that usually have the expertise to make valuable contributions (similar to the democratic approach). Each member is able to take the lead and has great trust in one another to make proper, productive and effective choices that add value to the company.

 

2 – The Incentiviser (Transactional Leader) 

These are the types of leaders that make use of effective reward and punishment systems in order to promote self-motivation and the ambition to succeed. By using incentives to drive employees, these leaders have a fixed and functioning system that says to work hard or receive no benefits.

One of the biggest issues with this approach is that the environment is usually quite strict in structure and rather inflexible. There’s often little room for different viewpoints or processes and can lead to people feeling undervalued, as they’re only there to follow the lead. Employees usually feel restricted in making an impact and everybody has the same measurement of achievement – those who sell or produce more, get more.

However, the upside is that goals and outcomes are clearly defined and can easily be understood by teams and individual employees. The incentives and consequences are also made crystal clear and it’s up to the individual to do a great job – so it also instills a sense of confidence and accountability in the employee regarding their expectations.

 

1 – The Transformer (Transformational Leader)

This approach to leadership puts more focus on the leader’s personality and the way in which they motivate employees to constantly innovate and improve. They are often guided by a clear vision of success and ensure that everybody is focused on the company’s mission and purpose. These leaders aim to inspire and create a positive work culture for everyone involved, acting as a role-model and exemplar.

One of the biggest issues with this style of leadership is that it makes way for a culture of sycophants that aim to please the leader at any given opportunity. Employees can become more focused on getting their leader’s approval, instead of focusing on performance, productivity and team support.

This approach works well, because leaders act as role-models to staff, inspiring them and motivating them to achieve greatness not only for the company, but for themselves. There’s usually a high focus on the vision of the company and what it will take to become more valuable in the long-run. These leaders value interpersonal relationships and are engaging in the way that they communicate with staff, leaving lasting impressions and a stronger sense of camaraderie.

 

What Type Of Leader Do You Want To Be? 

While there are these different approaches to being an effective and impressionable leader, it’s up to you to pick and choose. Weigh out the different options, see which of them suit your personality more and learn, learn, learn.

By taking the time to educate yourself on your favourite approaches, you’re able to decide which one(s) will be more advantageous to you and your business.

Perhaps you like two, or even three of them and want to make a cocktail that includes the best points into one powerful hybrid approach that suits you better – then by all means, do so. Being a unique individual means finding unique and remarkable ways to do things.

If you find that you’re already comfortable with your approach, but need advice, mentoring, guidance or more perspective, then I’m the right coach for you.

Even if you’re still trying to figure out what leader you want to be, I can help you make the right decision for you and your business.

I’ve worked with so many different clients that I’ve helped develop and grow – engaging with many different leaders and personalities that attract high levels of success, so I know exactly what to look for and inspire in you.

 

Get in touch today. Tell me about your business, your dreams, goals and ambitions. Let me help make the difference that you seek.

+2783 253 3339

brent@spillly.com

 

Jan 05
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Bringing It All Together In The Reuleaux Triangle – The Psychology of Business (Pt.4)

By Business Coaching Business Management Motivation No Comments

In this four-part series on buzzing business psychology, it’s important to tie the three previous concepts together and form one, solid entrepreneurial machine out of you, the business owner.

A Reuleaux triangle is very similar to a Venn diagram, where two circles coincide and have a common thread in the centre, but includes a third, bottom circle which forms a central piece that a triangle can be extracted from.

This triangle is the convergent point of all three circles and shares traits from all of them; these three circles being Imposter syndrome, Authority syndrome and Delusional Self-Belief.

“There’s A Sucker Born Every Minute”

 

In taking a good look at how psychological biases not only affect us as individuals, but also as business owners and entrepreneurs, it becomes easier to make practical use of that information and make our minds work for us, rather than being slaves to those thoughts and subconscious mishaps.

It becomes increasingly important to understand the world we live in, especially when working with and through people. The science exists and it’s far from a wacky bouquet of horoscopes with generic Barnum statements that falsely determine personalities and the traits that come with them.

For those of you that don’t know, P.T. Barnum was a famous showman, politician and businessman that came up with something we now call the Forer Effect. It basically refers to generalised statements made about people’s personalities that seem to ring true to them on a profound level, but can actually be applied to everybody.

I might be pissing off a whole lot of fortune cookie-eating, horoscope-loving suckers (he called you suckers, first) out there, but statements like this include: “I sense that you are sometimes insecure, especially with people you don’t know very well”; “you’re having problems with a friend or relative”; “you’ve got a bubbly personality, but you can be serious, too.”

A famous quote attached to him is, “there’s a sucker born every minute,” and almost anyone is susceptible to these not-so-profound insights about themselves, as they’re all generic and can have you fooled upon hearing such revelatory ideas about who you are.

It’s so important to understand yourself, especially on a psychological level, to not only prevent being tricked or manipulated; but rather to manipulate or trick yourself into achieving amazing results in any and all areas of your life.

So by taking the knowledge that I’ve shared with you on Imposter syndrome, Authority syndrome and delusional self-belief; you can form a Reuleaux triangle of those three concepts, take the best aspects of all three and thrive.

 

A Threesome With Anxiety, Creativity And Confidence

Starting with the anxiety-driven biases like Imposter and Authority syndrome, there’s a great sense of humility, empathy, creativity and innovation that comes from having them as a part of your mental state.

Humility becomes so powerful in combating the ego and developing trust with the people that you work and interact with. As a character trait and business tool, people will develop far more trust in you, making you more likeable and attractive – especially in having amazing skills, talents and abilities, while avoiding boastfulness and arrogance.

Empathy has already become recognised as a form of emotional intelligence that makes leaders fantastic and being able to understand, relate to and sympathise with people on a profound level will make you so much more enjoyable, respectable and revered among clients, staff and anybody that you work with. Coupled with humility, the rapport and remarkableness make you stick out like the perfect Black Friday special that nobody can resist.

In Authority syndrome, you have heightened levels of creativity and innovative ways of looking at the world around you. You see the beauty in everything and see the world as a gallery or museum for your artistic endeavours. Producing content, ideas and strategies to navigate your business, your staff and shape society as a whole, is poetic in itself. Sharing life-changing ideas and concepts bring growth to those who are stunted; strength to those who are weak; and power to those who feel powerless.

Bringing innovation to stagnant waters, brings life and a dynamic novelty to the world around us. You’ll be credited, referred to, praised and if not, you’re always still making some sort of a difference and impact on some person’s life. That, in itself, is power.

Finally, delusional self-belief can be used as a powerful weapon to attract and manifest all of your goals, desires and dreams into reality. With the supreme ability to bring about certain outcomes and stunning results in life, based on the thoughts and energy you put out into the world – your posture, body language, engagement and attitude plays a huge role in getting what you want for yourself and your business.

Minus the grandiose and pompous nature of extreme belief in one’s abilities and self-esteem, you create an attractive and awe-inspiring atmosphere that people are drawn to; putting staff, clients, shareholders, partners and anybody else in that awkward position of loving and caring about you, while finding it difficult to hate or dislike the person that you are.

When those three biases converge, that Reuleaux triangle contains within it the best ingredients to make you tenacious and addictive in people’s eyes and their thoughts of you.

Taking note and being aware of these three psychological concepts will help you discern and decide what aspects should stay and what should be done away with. Not everything is dark, gloomy and sad, especially when dealing with struggle, anxiety and grandeur; there is always a silver-lining and a collection of unique and profound attributes to take away and apply to oneself.

Join me in the centre of the Reuleaux Triangle and together we can ignite a wildfire of change and excitement in our offerings to the world around us.

We certainly don’t need to change the whole world, but our circles of influence are malleable enough and highly capable of receiving the vision, love and ecstasy that you, as an entrepreneur and me, as a business coach, have to offer.

I’ll continue to strive to be a gift that keeps on giving: So I’ll give to you my number and email address and we can get into the details together:

+2783 253 3339

brent@spillly.com

 

 

Jan 05
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Delusional Self-Belief – The Psychology of Business (Pt.3)

By Business Coaching Business Management Coaching No Comments

I almost never know what I’m doing, but I absolutely know that I’ll figure it out and that whatever I set my mind and intentions on, I can (and most likely will) achieve it.

These words echo in the minds of those that have a strong belief in their abilities and the great outcomes that they are capable of producing, carrying with them a powerful aura that demands the world’s attention.

 

Coming across people with these levels of self-assurance can be both frightening and refreshing; frightening, because you’re forced to reflect on how afraid you are of your own power and refreshing because you see that you’re just as capable of such thought and control.

 

Delusions Of Grandeur

After taking a look at the more anxiety-driven cognitive biases that appear in part 1 and part 2, there’s always room to find select people that have what seem like a never-ending supply of self-determination and confidence – no matter the consequences they’re faced with.

Some of the clients that I work with and coach carry with them a sense of this somewhat delusional self-belief and the people that they are surrounded by are generally in awe of how they manage to expand their networks, extract opportunities and succeed without a sense of fear for judgement or debilitating criticism.

Sure, there definitely are cases where the Dunning-Kruger effect can be seen taking the wheel and driving some of the hubris that can come with having such high-levels of confidence. However, some people are so highly self-motivated and carry intense levels of a well-endowed self-esteem.

The Dunning-Kruger effect refers to when that delusional self-belief is coupled with an actual inability to get many of the goals done, lacking the talent, logic, skills and abilities required to see things through. People dealing with this bias tend to have extreme levels of high self-esteem and delusions of grandeur, but struggle to achieve anything, due to an actual lack or limitation of ability.

In the case of delusional self-belief, you’ll sometimes find a distinct level of hubris, but there’s logic, reason and rational thought behind the decisions that are taken. There’s a certain level of confidence within them that makes you wonder where exactly to get some of that magic potion.

 

Like A Magic Potion Brewed By Getafix

Similar to when Asterix, or Obelix take some of that magic potion, the famous one brewed by Getafix, there erupts a boost of invincibility and a certain lack of inhibitions; if you desire a result, you’ll go and get it and make shit happen.

Some people have a built-in reservoir for this kind of heightened self-esteem and unfettered determination, which is both desirable and certainly fear-inducing.

It’s not always easy to deal with, as with any cognitive bias there are subconscious defence mechanisms at play. This kind of thinking often sidelines any negative news, observations, or thoughts and replaces them with mostly positive ones; which can often damage relationships and perceptions, or have you make hasty decisions that can bring about more harm than good.

That’s why it’s important to not get wrapped up in self-delusional thinking, but rather to use it wisely and with a much-needed dose of realism. By incorporating the two, you can make wise, confident and bold decisions that could turn your life into something utterly profound.

It will act as a sort-of self-fulfilling prophecy, by managing to work out that which you desire and by giving it the necessary time to simmer in your subconscious, allowing you to manifest and breathe life into your thoughts and your reality.

The self-fulfilling prophecy is an innate ability within each and everyone of us to create an idea in our mind that will have an externalised effect on our behaviours and actions and therefore affect the way that people choose to interact and engage with us. A simple example of this is by going to a party with the idea that you’re not going to have a good time, you’re not excited about going and you’re reluctant to meet new people; you end up prophesying your time at the party, engaging in closed-off body language, avoiding opportunities and forming a cold and distant attitude that nobody wants to be a part of – you end up doing it to yourself.

The same can be said about using that psychological observation in the opposite way; going in with the right attitude and mindset will bring about a natural change in body language and behaviour that will have you appear far more attractive and enjoyable.

In taking a healthy dose of that potion; use the rhyme “fake it ‘til you make it”, or the Jewish aphorism “deed before creed,” which says to start acting and behaving in a certain way and the rest will surely follow.

The mind is capable of utterly incredible operations and what you tell yourself can make or break who you are.

 

Just Make Use And Don’t Abuse

Using a healthy mix of delusional self-belief, coupled with the right reason, logic and abilities – you can go very far as a leader, entrepreneur or in any field you choose.

The best entrepreneurs and business owners have these attributes carefully wound together and it carries their success to great heights. No matter how old they might be, these (often, great) people maintain a steadfast and unshakeable faith that they are immune to the discouraging and intimidating nature of business success and longevity.

Armoured with that type of deepened belief in themselves, they shape the company culture in such a way that it produces fantastic results in their products, customer service and overall impression that lends to their success.

Sure, there might be some crazy egomaniacal tendencies that sit right at the top, but the determination and high levels of quality and power of these businesses tend to stand out from the crowd and always do far better.

Steer clear from misinformation, arrogance and self-indulgence; keep educating yourself and sprinkle some of that delusional self-belief on your breakfast in the morning to keep you motivated and luring in the best outcomes for you and your business.

Like I’ve mentioned in Part 1 and Part 2: I deal with my own sense of imposterism and creative anxiety from time to time, but I always make sure to throw some magic potion into the mix, so I can dilute the fear with a bit of fervour for the world.

I kind of, sort of have a secret recipe that I’m more than happy and willing to share with you:

Only on one condition, though!

You have to call me, Whatsapp me, or email me for a sagacious chat – it’s there that I can unwrap my master plan to become your business coach and confidant.

 

This how to reach me:

+2783 253 3339

brent@spillly.com

You know you want to.

Jun 22
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Remote office spillly

A Remote Office? Nevermind.

By Business Business Management Coaching Culture Entrepreneur No Comments

Remote office spilllyOver the past few months I have viewed and read countless opinion-based articles on the future of the office and how the last industrial revolution lead to what we now know as the brick ‘n mortar office. The problem is not with the point of view and insights but the repetitive nature and onslaught of the “experts” in the space. Like most offices, it’s all rather dull. The silver lining to Covid for some, including myself, has been the time to think and learn new skills outside of our comfort zones. I have rediscovered music and burned countless hours watching Rick Beato’s “Everything music” on YouTube [check him out!]

I have perhaps forgotten how much I love some good old rock ‘n roll and time at home has given me this luxury back. So now, for your entertainment and education please find a piece on the future of office that doesn’t suck, subtitled “If offices were rock bands!”

Drum roll please…

All one needs to produce a great rock song is a red guitar, three chords and the truth. Unfortunately producing a great remote working environment for a *service-based business is a tad more complicated and requires 5 stages of refinement.

  1. On stage one: Status Quo.

A band whose name literally means the current state of affairs was a formulaic rock band previously called The Scorpions before they renamed themselves in 1969. This band had no rock star mystique and what you see is what you get. We have all heard some of their songs, but I bet you couldn’t name them or even tell me if I played you one if it was a Status Quo song or not. They released 33 Albums [33!] and the only song that comes to mind is ‘Rockin’ all over the world [1977]. Like Status Quo, there are offices all over the world and even though they are prolific, they are what some might say, stale.

The Status Quo Office:

The Status Quo of offices are as we know them; non-deliberate, with no real move towards a decentralized system. Their knowledge workers can work away from the office for a day or 2 without leaving a major impact but the organization can’t function with team members being “absent” from their place of work for extended period of time. If you are happy to have staff off on sick leave or leave for a few days at a time, but need them back to work and are focused on bums in seats, then you are Francis Rossi, the lead singer from Status Quo: dull, stuck and now, irrelevant.

Status Quo was large format stadium rock. You could hide in the stadium just like your team “hides” by just being present in the crowd. Counted for, but not counted on.

From an employee’s perspective there is so much out of their control that it’s often constraining. One can’t control the room temperature, the shared toilets, no pets or pets, fresh air and windows, the smells, the talking of people over you, the kitchens, the shared fridges and the inconsideration of others.

 

  1. On stage 2: Linkin Park

What do you get when you take heavy metal music and combine it with other music genres such as hip hop, alternative rock, EDM, funk, industrial, and grunge and then throw in some singing, rapping, screaming and growling? Nü metal. And nobody did Nü metal better than Chester Bennington and the guys in Linkin Park. This is obviously my opinion, but I’m absolutely right! At first, their songs were 20% samples 80% instruments, and later was more like 60% samples and 40% instruments.

Linkin Park took elements from the big bands that came before them; Depeche Mode, Nine Inch Nails, U2 and Korn and mashed them together to define a new sound that was timeous to the milieu. It was new, but it was just old thinking crushed together to make a new sound that filled stadiums. God, I miss Chester.

 

The LP office:

The Linkin Park of offices is simply recreating the office but online, trying to keep the past but doing it remotely. In the Linkin Park office you are now adopting some new technologies but still think time-based delivery and a factory model of online and inline office production work. In this group you are actually less productive as an organization than when you had an actual office. The processes, procedures and policies are just copied and pasted across the interwebs with no thought about the changed landscape and new efficiencies and frictions. You are still tracking where staff ARE.

Culture will be dramatically impacted here if an overhaul in the way you think doesn’t happen and you don’t love George, Ringo, John and Paul.

 

  1. On stage 3: The Beatles

Ok, ok, they may not be hard rock, but they were definitely “year one” of rock ‘n roll and pathed a way to so many great bands that followed and imitated them. They wrote their own songs and played their own instruments. Were they great musicians? Probably not the best but here’s where innovation trumps skill and their styles changed with the times and dominated every genre.

“Yesterday” is the most recorded song of all time recorded more than 1,600 times by acts as diverse as Frank Sinatra and Boyz II Men. It easy to copy and works with the audience.

The Beatles reached a dizzying, gargantuan level of popularity and success that we had not seen before and have not seen since. They released the first “concept” album, “Sgt. Pepper’s Lonely Hearts Club Band,” in 1967 and is almost certainly the most influential recording in popular music of the second half of the 20th Century.

When they stopped touring in 1966, they thought of the brilliant idea of sending videos on tour instead of themselves in order to promote their singles. Their promo videos, specifically “Paperback Writer” and “Rain”, are considered to be among the first “music videos.”

The Beatles office:

Necessity breeds invention and offices at The Beatles level take full advantage of the medium. This is where we start seeing synchronous meetings and smarter tech usage. The factory model of the previous industrial revolution is being disassembled and rebuilt. It is also typically where the business starts investing in better equipment and is starting to look at outcomes rather than inputs. Your organization is 100% laptop based and cloud hosted and is investing in the written word and increased written word quality.

The remote thinking has been replaced with a decentralized rational. Your people will be able to move houses, tweak furniture, buy equipment, upgrade their internet, and otherwise adapt to being more productive in a distributed environment than they ever could be in an office. Products and services are being perfected all around the world that will make it even better. It’s exciting to see how this decentralized model will improve the majority of people’s quality of life, and unlock incredible creativity and innovation at work.

The Beatles level will most importantly require a very different management style with more personal check ins and culture dipsticks in order to keep a closer eye on staff welfare as you can’t see the physical cues of staff in the office. The staff that have been dust on your shelf [read; lazy and unproductive] protected by the dark, now have early morning sunshine sprinkled all over them and it’s clearer now more than ever, who should stay and who should go. [See what I did there?]

 

On stage 4: Led Zeppelin

 

Led Zep were the definitive story tellers with the most harmonized percussion, voice and guitars. They were 1st and may never be repeated. This is why 50 years later, kids still talk about The Zep with Stairway to Heaven being one of the most recognizable songs ever. What is crucial to recognize here is that Led Zeppelin had a jazz-like asynchronicity something you can feel in a “Whole lotta love.”

Zeppelin was the right band at the right time and understood production and harnessed the studio’s potential to make a super-grandiose sort of hard rock with mystical overtones. John Bonham recognised as one the greatest drummers, kept the group together. They were the start of a music genre copied and envied by generations.

The Zep office:

Things go asynchronous, with people all not online at the same time. KPIs are judging WHAT they produce and not HOW or WHEN they produce. The global workforce start using a clean “baton hand off” between time zones and skills, delivering work in a third of the time, a Status Quo office can, in the designated traditional 9-hour day. You start intentionally hiring from the global talent pool with teams only in 2-3 time zones on a 24-hour production cycle.

In the Led Zep environment, there are less meetings and more time to be thoughtful with a higher level of critical thinking. There is a massive move towards a meritocracy supported by sophisticated online security and processes. People behave like trusted stakeholders and not employees. There is nowhere to hide now, and the stars shine brightly on centre stage. At this level, most companies have outsourced hardware already and trust the software to protect them and their privacy.

On the main stage: Nirvana

 

Firstly, and some may say most importantly, Kurt, Chris and Dave saved the world from hair metal. Nirvana helped get a whole new genre of music out into the mainstream and certainly changed an entire generation by tapping into a new Zeitgeist. There are few flawless albums in the history of hard rock that hit me the way Nevermind did. After Nevermind nothing was the same. On Nevermind, everything just seems right, this album is perfect end-to-end, from the first sounds of Smells Like Teen Spirit to the soothingly simple but haunting final chords of Something in the Way. It was a new way, a brand-new thinking and once you saw this you could not unsee it. The death of Kurt Cobain crystalized a moment in time that can always be reflected back on a change in the path of music for many. Kind of like Covid-19 has done for so many now.

The Teen Spirit office:

The word “Nirvana” divorced from the band, speaks directly to the almost unachievable. It is an idyllic state or place in which there is neither suffering, desire, nor sense of self. [Thank Wiki.] Something the current Zeitgeist is longing after, something that is not achievable in Status Quo office cubicles.

In the Nirvana workspace your business is doing better work than any office-based business could imagine

In Nirvana you can design your environment around health and wellness and exercising when it suits you. The old school HR department no longer indexes on time spend at the desk but will now focus entirely on output and quality. There are no questions about how or where you do the work and employers have no idea where their staff are hour to hour.

Dear team, there is nowhere to hide. In Status Quo there was ‘something in the way’ we worked that gave office staff a place to hide by being present [in the meeting, first to the office and last to go home,] dressing well and having a louder voice etc. It certainly appeared that these employees were delivering work and adding value, when they actually weren’t.

In Nirvana, just like Kurt, you can be socially awkward with no impact while now being recognised as the most productive, most creative and best thinking contributor who actually delivers valuable output.

The workforce and workspace is 100% distributed with organisational knowledge being hosted centrally on an internal “Wiki” with answers to FAQs and best of breed solutions to prior questions resolved in the org. Think internal Google alerts. A full work day is no longer 9-5 and people get paid for their own efficiencies and working smarter, meaning fast people work less and get paid as much as the slower people but can do more, output more and earn more.

I hope that people’s biases are removed in the new decentralized spaces where the work is being measured and not the people. Nirvana is a place where an organization’s communication is read with a positive intent first, so tone is never miscommunicated. Language and text will become human and kind, and audio is preferred over email, in fact, there is no space for email in Nirvana.

In Daniel Pink’s book “Drive,” he refers to three layers of an employee’s motivation and believes that if companies can give these three elements to their employees then the organization will thrive with happy, productive staff and clients:

  • Mastery – Are you able to get better at your job and can you accomplish your work?
  • Autonomy –Do you have the freedom and agency to control your environment to do work as effectively as possible?
  • Purpose –  Are you working for something bigger than your job, bigger than yourself or pay check – something that motivates you intrinsically?

None of these rely on an office.

“A common misconception about company culture is that if you have a good one, you have to hold on to it. I believe this to be wrong. If you want to have a great culture, the trick is to evolve it forward with your environment. Take the best things with you from version to version. Until recently, work happened in the office. We’ve always had some people remote, but they used the internet as a bridge to the office. This will reverse now. The future of the office is to act as an on-ramp to the same digital workplace that you can access from your #WFH setup.” – A tweet from Tobi Lutke, founder and CEO of Shopify.

The office; where most meetings are a waste of time, where the rumour mill and politics thrive, where proximity breeds contempt and where the old culture is protected. Yes, some firms and people will return to physically co-working with relative strangers, and some employers velcroed to the past will force people to go to brick n mortar offices, but the illusion that the office was about work has been shattered forever, and companies that hold on to that legacy thinking will be replaced by businesses who embrace the durable nature of distributed organizations.

@Spillly

Like all great musicians who were inspired by those before them, I have blatantly borrowed [and mixed] some thinking from Matt Mullenweg, Stephan Wolfram, Sam Harris, Tobias Lütke, Tracey Brower, Prof. Scott Galloway, Daniel Pink, Jo Meunier, Wikipedia and Rick Beato to produce this piece. *It’s also a sidebar but this all really only applies to organisations that sell knowledge and are not reliant on assets outside of laptops to deliver products.
Apr 12
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I’m thrilled about the Covid Lockdown extension | A sales strategy for fearless leaders with cash.

By Business Business Management Coaching Entrepreneur Motivation Strategy No Comments

For the audio of this blog click here

 

 

10 April 2020

Dear you,

Covid overload. Death tolls. Minimalism. Flattened curves. Acts of kindness. Memes. Screen fatigue. Emotional health. Conspiracy theories. Short-termism. Existential crisis. Lead generation webinars disguised as support networks. Oh, woe is me. Dick-stain Trump. I’m over this pandemic. Over the panic. Over waiting for the financial pain to come, but then so is your opposition and perhaps substantially more so. If you have money in the bank today, you may have a life raft. Now all you need is a way to paddle into prosperity.

Now, here is the part that you may not like. It may even turn you off a little. Get someone to hold back your hair while you throw up. Look away if you are scared. Be afraid of what I’m about to say:

Kill your opposition. Ensure they are drowning in the freezing shark infested waters of despair. Don’t pretend you give a shit, you don’t.

The lockdown extension is a blessing. Your glib, living the Instagram best life bastard-of-an-opponent that’s been sipping Champagne on the top deck of the Titanic and is always at the pitch table too, is most likely leveraged to the hilt, geared to kingdom come and not making payments on those gas guzzling German cars he/she couldn’t afford to buy cash. They have no life raft. Let them drown.

Your competition has bled all their cash and not acted quickly enough. They never booked a dingy. They have recently ruined their relationships with their own clients fighting over payments and pauses. Post lockdown, they desperately need to protect margin to keep the shareholders, the stakeholders, the sharks and the banks at bay. Why not learn and adopt a sales strategy from some of the most aggressively growing business in the world today? And it’s an uncomplicated one. Ready?

 

Don’t make a profit.

 

That’s it. Simple. For the next 6 months learn to live on the knife-edge of cash flow and zero profit and if today you have the stomach for this and some cash in the bank, sell at below cost and see how quickly the competition capsizes. Nobody can compete with zero margins when they are encumbered to others.

Pitch on everything at break-even. Land grab. Offer the competitions’ clients a life raft now. They too, are looking for deals as they have suffered and need support and cheap services. Brag ashamedly about your company’s stability, durability and reliability and ensure the market knows you will survive future traumas together. Unscathed.

The rich businesses will get richer and the majority middle class may be wiped out. Ephemeral thinking is for the middle class. Being eager to claw back profits now will flatten your oppositions curve. Why offer them a lifeboat to cling to when you can chum the waters?

@Spillly

 

Thanks to my editor at large @TheJoLurie

 

Mar 20
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Innovation and disruption labs exposed.

By Business Business Management Coaching Innovation

At first Google ruined our perception of culture and set standards so ridiculously high that most business in South Africa doesn’t even attempt to fix their culture because the bar has been set so high. Now with their skunkwork’s “Solve for X” and the acquisition of Idealab Google have outsourced the smart thinking and can afford to hire the best minds in the world to help solve problems most of us don’t even know are problems yet. This should not stop even the smallest business from being innovative and disruptive in their immediate space. But what is Innovation and disruption besides the trendy terms that are thrown around and leadership conferences?

 

Its important to get your head around that fact that all disruptors are innovators, but not all innovators are disruptors. A disruptive technology or idea literraly changes the way we think, behave and buy and can influence countless people to experience something new in their lives. Innovation can do the same thing but more often than not, is incremental and has a smaller impact on the general populus but does simplify, speed up and improve something to justify the change.

 

The next imporant fact is that you are more than likely not going to be the ground breaking innovator in your industry and your opposition will be first to market. And thats perfectly okay. In Adam Grant’s book “Originals: How Non-Conformists Move the World” he beautifully explains how marketing researchers Peter Golder and Gerard Tellis compared the success of companies that were either pioneers or settlers.

 

The pioneers were first to market: the initial company to develop or sell a product. The settlers were slower to launch and waited until the pioneers had created a market before entering it. When Golder and Tellis analyzed hundreds of brands in three dozen different product categories, they found a staggering difference in failure rates: 47 percent for pioneers, compared with just 8 percent for settlers. Pioneers were about six times more likely to fail than settlers. Even when the pioneers did survive, they only captured an average of 10 percent of the market, compared with 28 percent for settlers. Feel better?

 

When you see disruptive innovations coming from outside your organization you have 3 options:

1.     Option 1: Chase the market

2.     Option 2: Find new markets based on your expertise

3.     Option 3: A non-productive approach, to deny that the disruptive innovation will affect you market at all and continue business as usual. Lets all bury our heads in the sand, shall we?

 

When you learn of a radical new invention that threatens to disrupt your business and market, do not ignore it and don’t “insulate” against these disruptive threats and try preserving your current business model. Don’t be afraid to educate the market if the move is happening especially if you are leading the charge.

 

So how should you bake innovation into your company?

 

At the pharmaceutical giant Merck, CEO Kenneth Frazier decided to motivate his executives to take a more active role in leading innovation and change. He asked them to do something radical: generate ideas that would put Merck out of business. His executives worked in groups, pretending to be one of Merck’s top competitors. His team developed ideas for drugs that would crush theirs and key markets they had missed. Then, their challenge was to reverse their roles and figure out how to defend against these threats as Merck.

 

This is referred to as a “Kill the company” exercise. Its super powerful as it reframes a gain-framed activity in terms of losses. When deliberating about innovation opportunities, the leaders weren’t inclined to take risks. When they considered how their competitors could put them out of business, they realized that it was a risk not to innovate. The urgency of innovation was apparent

Running an innovation lab or disruption session in your business is a great starting point. Start with some hard-hitting questions that address what actions might your competitors take tomorrow that would keep you awake at night. Other questions you can pose your team are as follows:

 

 

a.     What new technology could potentially destroy our business model?

b.    What new legislation/law could potentially destroy our business model?

c.     What’s happening in another part of the world that you could adopt and adapt in your environment?

d.    What are some of the disruptive changes in your industry that might serve as the source of innovation for you and your company?

e.    What are the key emerging technologies, and how are they being used inside and outside your industry, company, and region to create proprietary advantage?

f.      Is there new business models emerging that you can adopt or adapt to deliver radical improvements in the way you and others do business?

g.     Can you expand not just your “share of market” but also your “share of wallet” by adding new business models—for example, if you currently have a product business, can you add information, services, or solutions?

h.    Can you expand into adjacent businesses by either taking over activities that used to be done by someone else in your industry, expanding into new markets, or adding new products?

i.      Are there fragmented industries where significant value can be delivered through consolidation?

j.      Are there shifts in power with an entry or exit of a key player or consolidation of several players, which threaten your existing position or create opportunities to partner in your existing business or enter a new one?

k.     Are new markets or businesses emerging in other parts of the world that create opportunities or threats?

l.      Are there opportunities to create value by outsourcing or offshoring activities that you currently perform inside your organization?

m.   Is there activities that you currently source from outside that you should be doing inside to create proprietary advantage?

n.    Is there impending or shifts in regulation, political power, or society that threaten to disrupt entrenched power bases and provide opportunities for new entrants?

o.    Where is the greatest complexity now?

p.    What are the most “emotion-generating/engaging” service attributes you can offer that you could never satisfy?

 

It is never a bad idea to throw in a PEST or SWOT analysis into the mix to thicken out the risk elements. Always think of worst-case scenario first and work your way towards a winning strategy. Successful entrepreneurs are able to recognize patterns before an opportunity takes shape and search for ideas at the intersection of markets, industries, and emerging technologies. Look for business models that work well in one market and can be adapted and applied in another.

 

An innovation workshop is never the only step to creating disruption in your business or market place. The stages you should try including are:

 

a.    Problem identification (customer journeys for anywhere between 1 month and 1 year)

a.    Clarify and challenge the biases and business models in your firm and in your industry

b.    Analysis and research; always have facts and figures as the basis for decision-making.

a.    Listen to—and learn from—the market: Identify sources of significant problems that cannot be solved using today’s product and service offerings. Focus first on the problem—not the solution. Be sure that you don’t just listen to your current customers.

c.     Design thinking stages (internal and collaborative); this helps you discover new product ideas.

d.    Unpacking the designs into options, road maps and feasibility.

e.    The decision making process.

f.      Assessment of capability and resource gap analysis.

a.    Identify important global and local trends that signal potential revolutionary shifts in customer behaviour

g.     The case for a business plan with revenue and value potential.

h.    The narrative for staff and the market.

i.      Design and implementation (includes assigning all your required resources)

j.      Testing the ecosystem.

k.     Launch and iteration.

 

Labs like these should take place on a set agreed frequency and adding external people for a unique POV adds a rich layer of brains that doesn’t have the same industry bias’ that your people do and broaden your perspective.

 

Here are a few tips on Innovation ideas and disruption workshops that spark original ideas:

 

·      Run an innovation tournament.

o   Welcoming suggestions on any topic at any time, doesn’t capture the attention of busy people.

o   Innovation tournaments are highly efficient for collecting a large number of novel ideas and identifying the best ones.

o   Instead of a suggestion box, send a focused call for ideas to solve a particular problem or meet an untapped need.

o   Give employees three weeks to develop proposals, and then have them evaluate one another’s ideas, advancing the most original submissions to the next round.

o   The winners receive a budget, a team, and the relevant mentoring and sponsorship to make their ideas a reality.

·      Picture yourself as the enemy.

o   People often fail to generate new ideas due to a lack of urgency.

o   You can create urgency by implementing the “kill the company” exercise [Stolen from Lisa Bodell, CEO of Futurethink.]

o   Gather a group together and invite them to spend an hour brainstorming about how to put the organization out of business—or decimate its most popular product, service, or technology.

o   Then, hold a discussion about the most serious threats and how to convert them into opportunities to transition from defence to offense.

·      The Pitch:

o   Invite employees from different functions and levels to pitch ideas.

o   At DreamWorks Animation, even accountants and lawyers are encouraged and trained to present movie ideas.

o   This kind of creative engagement can add skill variety to work, making it more interesting for employees while increasing the organization’s access to new ideas.

o   Involving employees in pitching has another benefit: When they participate in generating ideas, they adopt a creative mind-set that leaves them less prone to false negatives, making them better judges of their colleagues’ ideas.

·      Hold an opposite day.

o   Since it’s often hard to find the time for people to consider original viewpoints, one of the smart practices is to have “opposite day” in the boardroom and at conferences.

o   Executives and staff divide into groups, and each chooses an assumption, belief, or area of knowledge that is widely taken for granted.

o   Each group asks, “When is the opposite true?” and then delivers a presentation on their ideas.

·      Word Banishment

o   Ban the words like, love, and hate.

o   At the non-profit DoSomething.org, CEO Nancy Lublin forbade employees from using the words like, love, and hate, because they make it too easy to give a visceral response without analysing it.

o   Employees aren’t allowed to say they prefer one Web page over another; they have to explain their reasoning with statements like “This page is stronger because the title is more readable than the other options.”

o   This motivates people to contribute new ideas rather than just rejecting existing ones.”

·      Welcome criticism.

o   It’s hard to encourage dissent if you don’t practice what you preach.

o   When you receive an email criticizing your performance in an important meeting, copying it to the entire company sends a clear message you welcome negative feedback.

o   By inviting employees to criticize you publicly, you can set the tone for people to communicate more openly even when their ideas are unpopular.

·      Shift from exit interviews to entry interviews.

o   Instead of waiting to ask for ideas until employees are on their way out the door, start seeking their insights when they first arrive.

o   By sitting down with new hires during onboarding, you can help them feel valued and gather novel suggestions along the way.

o   Ask what brought them in the door and what would keep them at the firm, and challenge them to think like culture detectives.

o   They can use their insider-outsider perspectives to investigate which practices belong in a museum and which should be kept, as well as potential inconsistencies between espoused and enacted values.

 

In summary, throwing innovation and disruption workshops may be seen as a cool new thing but they stand for ground zero in change for big business and can be leveraged to unlock creativity for youur business and for customers and their wider community. Build an innovation lab to make sure you do not underestimate the value it can deliver.