SATURDAY 01 DECEMBER 2018
Te l : 0 3 - 7 9 5 7 4 0 0 0
E-mail: editor@leaderonomics.com
Website: www.leaderonomics.com
Available in print every fortnight. To read all our past issues, go to bit.ly/ldrEmag
TRANSFORMING THE BUSINESS LANDSCAPE THROUGH DESIGN THINKING 3 6 9
LEARNING FROM GENGHIS KHAN JOINING THE DIGITAL DISRUPTION WAVE THE BENEFITS OF GRATITUDE
If you would like your organisation to be featured in this pullout, contact us at editor@leaderonomics.com
2
www.leaderonomics.com | Saturday 01 December 2018
SUBSCRIBE TODAY at bit.ly/subscribeLD and get our e-mag delivered to your inbox weekly!
Like this article? Follow us @Leaderonomics on Facebook, Twitter, LinkedIn and Instagram.
In a world that is becoming increasingly automated, it is easy to forget the human side of business in favour of efficiency and convenience. However, the best companies in the world thrive through the stories they share with us. Read on to learn about the art of storytelling from Malaysian leaders: bit.ly/ LDRstorytelling
MAKING A BIGGER IMPACT WHAT YOU SHOULD AND SHOULDN’T DO TO TELL BETTER STORIES By KARIN HURT editor@leaderonomics.com
What did they look like? What did they wear? Why? Give us a glimpse into their fears and motivations. If you’re the main character in your story, give us a look behind the curtain. What were you feeling? Why?
I n Karin Hurt is a keynote speaker, author, and consultant who inspires transformational change. Recently named on Inc’s list of 100 Great Leadership Speakers and American Management Association’s 50 Leaders to Watch, she helps leaders from around the world achieve breakthrough results without losing their souls. She is the co-author of Winning Well: A Manager’s Guide to Getting Results – Without Losing Your Soul (2016). To get in touch with Karin, send an email to editor@leaderonomics. com
F you’re using business storytelling regularly, how do you assess the impact? How do you ensure you craft the very best stories that leave your audience not only inspired, but with an inkling of what to do next? There’s no question, stories are one of the very best ways to send a message your team will remember. Done right, great business storytelling explains the why behind your tasks, reinforces what’s most important, and builds deeper trust. And yet, done poorly, your team will roll their eyes and brace themselves when they see you coming. “Oh gosh, here comes one of his stories”, is not what you’re going for. We’re constantly hearing “Bless his heart, he means well” stories of likable leaders who waste their team’s time and drive everyone a bit batty with their rambling yarns. Of course, if you’re the boss, they may nod along and laugh politely at the right spots, but that doesn’t mean you’re necessarily making the impact you hoped for.
5
Check for understanding It is important to have a solid check for understanding in every communication. At the conclusion of your story, instead of saying, “and the reason I told you that story is…” Try, “Why do you think I shared that story?” If they don’t get it, keep refining your story to ensure it conveys your most important message. Every ‘do’ has a ‘don’t’. Here’s what you shouldn’t be doing:
1
If you’re looking to take your business storytelling to the next level, here’s what you should do:
Whether your audience is an employee in the passenger’s seat of your car on the way to an event, a small group of direct reports in a team meeting, or a thousand people at a town hall meeting, ask yourself this: “What do I want my audience to think, do or feel as a result of this story?” Be as specific as possible. Think beyond the obvious feelings of ‘encouraged’ or ‘motivated’, and consider specific behaviours or key actions you want them to take next.
1
2
BETTER BUSINESS STORYTELLING
Be clear about your message The difference between business storytelling and telling a great story around the campfire or in your favourite bar comes down to one thing – the point.
Pick a relatable scene I can’t tell you how many corporate events we go to where the CEO starts with a story from an unrelatable setting. “When my family of five and I
were on a cruise last week, the funniest thing happened…” And all the frontline workers who are struggling to make it through the month, tune out. They lost that story at “Hello”.
3
Keep it tight It’s tempting to offer every chronological detail, play by play. Don’t. Great stories focus on the emotional truth. Don’t make stuff up, but it’s perfectly okay to condense the details and the characters to build suspense, intrigue, and most importantly, reinforce the point.
4
Give your characters character Paint a picture of your characters.
Be the hero of your own story Even if you are the hero, who else was involved? How can you emphasise their impact? “And then, I met __________ who had the best idea I’d heard in a long time…”
2
Tell stories within the story Life is messy. No story happens in a vacuum. But, the most impactful business storytelling happens one story at a time. Do what you can to avoid the detours.
3
Wing it Great storytellers make it look easy; like the story just came to them and off they go. The very best storytellers know there is nothing further from the truth. Becoming a great storyteller takes practise. Try out your stories in low-risk contexts, ask for feedback and keep refining.
www.leaderonomics.com | Saturday 01 December 2018
By ROSHAN THIRAN roshan.thiran@leaderonomics.com “If you’re afraid – don’t do it; if you’re doing it – don’t be afraid!”
I
N 2003, a history of genetics paper found that 1 in 200 of the world’s men are most likely direct descendants of Genghis Khan. The figure is astonishing – but not surprising. One of the Genghis Khan’s sons is said to have had 40 sons of his own, and one of the grandsons had 22 legitimate sons and would add a number of virgins to his harem each year. Genghis Khan is one of history’s most notorious leaders and, for over a century, he and his descendants conquered and reigned over most of Eurasia, ruling one of the largest empires ever (measuring close to 12 million square miles). As I was thinking through various leaders to study, I kept wondering what leadership lessons could I possibly learn from this ‘evil’ bloodthirsty conqueror? As a conqueror, Genghis Khan was ruthless, brutal and unyielding in his quest for world domination. The mark he left on the world is indelible – even a Soviet campaign to remove him from the history books, centuries after his death, ultimately failed. But there is a surprising twist to the leadership of the Mongol warrior, whose original name was Temujin (he received the name ‘Genghis Khan’ when he was proclaimed leader of the Mongols in 1206). Temujin a.k.a. Genghis Khan (11621227) was born in Northern Mongolia along the banks of the Onon River and suffered a tough, deprived childhood. His father was poisoned to death when Temujin was nine years old, and the family was expelled by his own tribe, leaving his mother to raise seven children on her own.
LEADERSHIP LESSONS FROM GENGHIS KHAN
intellect and learning practical skills like influencing, inspiring, diplomacy and tact (after he had conquered a specific land, of course!). Remember, Genghis was not born rich and didn’t go fancy schools to gain an education. He started out as a poor child and had to learn to be a ruler by himself, schooling him through this process of continuous learning daily.
THE POWERFUL VISION
At the age of 20, Temujin found himself enslaved following a raid by former family allies but was able to escape and later build an army of over 20,000 men. How was a slave able to influence 20,000 people to follow him? He had an amazing vision – one that all the Mongol tribes should cease their divisive conflicts and unite under his leadership and rule. This vision of a better Mongol inspired many to leave their lives and follow him to achieve this dream. He even had a tagline (talk about 12th century branding!) which was: “Unite the whole world in one empire.’ And he took his mission seriously, stating, “the calling is high, the obligations incumbent on me are also heavy.’ Thanks to his military genius and understanding of his enemies, his vision to rule over the tribes of Mongol was realised in 1206, the year he became known as Genghis Khan (‘Universal Ruler’). His Mongol army was a well-equipped and fearless group of warriors and, before long, Genghis Khan began to build the biggest empire in history. A key insight for me from the life of Genghis was that having vision alone is not enough. You need to have vision coupled with intelligence and technical awareness, and the ability to execute and get things done. It’s estimated by some historians that the Khan’s forces claimed the lives of over 40 million people – accounting for around 11 per cent of the world’s population. There’s no doubt that Genghis Khan was one of the most brutal warrior kings to ever have reigned. But he also knew that, to hold on to power and build a lasting legacy, he needed to govern his vast empire wisely. To that end, he was an advocate of religious freedom, aware that such freedom made for a more peaceful people to rule
3
READ US ONLINE! Leadership insights on the go at leaderonomics.com
Like this article? Follow us @Leaderonomics on Facebook, Twitter, LinkedIn and Instagram.
Beyond the economic success, Jack Ma is an exemplary figure that embodies the persona of a responsive and responsible leader. Known for his great personality in both his leadership style and his beliefs, here are some leadership lessons from Ma: bit.ly/ lessonsJackMa
3
over. The Khan also operated a system of meritocracy: the man who almost killed Genghis Khan by shooting him off his horse was made a general in the Mongol army, and became one of its greatest field commanders. Genghis Khan successfully united previously combatant tribes, and prohibited the use of torture. He also disliked upperclass privilege, emphasised the importance of lifelong learning, and provided rights to Mongol women, which at that time, was extremely progressive. It’s also been said that he created the first international post system, thanks to his expansive communication network across his empire that allowed the flow of information, supplies and goods to travel at great speed. As well as being a military genius, Genghis Khan was a visionary who looked to ensure the success of his people after he had passed, dividing his empire among his sons to rule. Some might say there’s little to be learned in modern-day leadership from a 12th-century Mongol warrior. On the contrary, Genghis Khan’s leadership was born of his own experiences, instincts, and observations; and despite the brutality of his war campaigns, he understood what motivated people and what it took to become a great leader. Here are three key leadership lessons I picked up from studying the life of Genghis Khan:
1
Everything in moderation Leaders such as Mark Zuckerberg and Warren Buffett have been known to prefer minimalistic lifestyles relative to their wealth. Genghis Khan believed that
leadership could only function at its best if leaders avoided getting caught up in the trappings of success. As he warns, “I hate luxury. I exercise moderation...It will be easy to forget your vision and purpose once you have fine clothes, fast horses and beautiful women…you will be no better than a slave, and you will surely lose everything.”
2
Change comes in gradual steps, not giant leaps In his biography, Genghis Khan and the Making of the Modern World, Jack Weatherford reminds us that the Mongol leader gained his insights “not from epiphanic enlightenment or formal schooling but from a persistent cycle of pragmatic learning, experimental adaptation, and constant revision driven by his uniquely disciplined mind and focused will.’ In the words of Khan, a leader’s vision “should never stray far from the teaching of the elders. The old tunic fits better and it’s always more comfortable; it survives the hardships of the bush while the new or untried tunic is quickly torn”. In other words, we learn best and falter less when we emulate past masters and mentors, rather than trying to figure it all out on our own. Continuous learning, where we learn small little things each day, slowly transforms us into knowledgeable beings that are able to execute when the time requires us to do so. Genghis would never have been able to build an empire with just a vision. He coupled it with a daily habit of learning military tactics, developing his
When it comes to the crunch, the buck stops with you (but embrace all views too!) Leaders should do their best to seek out and consider different perspectives and the views of others – but when it’s time to making decisions, the responsibility falls on one person. Genghis Khan advises us, “No friend is better than your own wise heart! Although there are many things you can rely on, no-one is more reliable than yourself. Although many people can be your helper, no one should be closer to you than your own consciousness.” Although he seems to advocate making all decisions based on your gut, in many other places, he is seen wanting to gain as much information as possible before making decisions. Ultimately, once you make a decision, you have to take responsibility and own it. He adds, “People conquered on different sides of the lake should be ruled on different sides of the lake” emphasising that everyone is different and every decision taken has to be contextual to the place and situation you are in.
FINAL THOUGHTS
As I look at the life of Genghis Khan, I wonder if he may have been mistaken in history as an evil warrior. His wisdom and leadership nous seem very applicable to us in the 21st century, especially on having a clear vision, ensuring we are contextual in different situations, and finally, building habits to keep learning and growing daily. Obviously, there are parts to his life I would not recommend emulating, especially in how he wiped out his enemies ruthlessly. But if we can hold to his leadership principles, we may just find ourselves ‘conquering’ new empires and territories in our journey of life too!
n Roshan Thiran is CEO of the Leaderonomics Group and is looking forward to the month of December where he and his team will be out running retreats across many organisations all over the world. Just as Genghis Khan planned well to grow his empire, companies should also be planning their 2019 strategy and plans to ensure success in the new year. To enquire about strategic retreats for your organisation, contact Caroline at +6017-681 6074 or email her at caroline.ong@leaderonomics.com
4
www.leaderonomics.com | Saturday 01 December 2018
SUBSCRIBE TODAY at bit.ly/subscribeLD and get our e-mag delivered to your inbox weekly!
Do you believe that some people are just plain lucky? Or is there something more at play which can influence career and personal growth? Check out this episode of Be A Leader: bit.ly/ LDR-lucky n Riddhi Parikh Mehta is a trainer, facilitator and leadership development specialist. She is also the founder of Leaders Track, an organisation focused on developing leadership skills among youth today for future leadership. To get in touch with her, send an email to editor@ leaderonomics.com.
By RIDDHI PARIKH MEHTA editor@leaderonomics.com
I
N the lives of those who frequently take on unrelated, unforeseen, and unexpected challenges, there are several moments of doubts. After immense and honest efforts, when things don’t seem to move in the desired direction; we assign it to bad luck or misfortune. In those weak moments of doubt, we also ascribe others’ success to their good luck. Many people say that one must be lucky to succeed in their career, and luck is manifested as Ivy League admissions, a good boss, great organisation, supportive spouse, growing economy and so on. Here’s my story. My challenges were not as great, but my learnings were.
DOWN ON MY LUCK?
About 4 years ago, I was looking for part time/flexi assignments. All the human resource (HR) leaders that I met were willing to work out an assignment which would meet my flexi-work requirement. Each one also said “Give me some time to revert”. Several months passed and no one had worked out an assignment for me. I got exhausted and waited for luck to work in my favour. Several more months passed but luck didn’t seem to be smiling down on me. In my spare time, I would read a lot of books, and in one, I came across this quote by Lao Tzu: “Those who flow as life flows know that they need no other force.”
LUCK VS. FAITH I decided to put the same thought to practice; I decided to flow instead of waiting for the force of luck. Donning my formal attire yet again; I met more HR leaders, placement consultants, business leaders and anyone else who was willing to meet with me. On good days, I found encouragement from them; on bad days, I enjoyed their office’s coffee. Mostly it was encouragement; which was the fuel that boosted my quest for the flexi, yet high quality and satisfying assignment. Some of them gave me sound advice which encouraged me, while some others contacted their peers in other organisations to ask if they could work out an assignment for me. I stay eternally grateful to each of them for their efforts. I finally did get some great assignments in world-class organisations.
FAITH WITHOUT ACTION IS DEAD
Looking back, I wonder what is it that worked for me.
It wasn’t luck alone; because that didn’t do it while I waited. I won’t say it was my efforts alone, else I would have succeeded much sooner. The combination of the two is what worked. Luck + Effort = Faith I stayed in faith that corporate India would provide a meaningful part-time assignment for a new mom (me). I stayed in faith that my relations in the HR fraternity would help me to get an assignment, with or through themselves. I stayed in faith that I would be able to get myself an assignment of my choice and on my terms (flexible hours). By staying in faith, I continued to move forward.
KEEP GROWING AS AN INDIVIDUAL
I realise that each meeting was leading to more contacts, which meant that more people were trying to find an assignment for me. I took free online courses, read more books, and learnt new concepts so
that I could meaningfully engage with the people whom I was meeting. I kept refining my work and life priorities. All of this helped reinforce my belief that I AM going to get an assignment; it’s just a matter of time so I must carry on. As I stayed in faith, each action was a stepping stone that helped me to progress. So, I kept laying more stepping stones. Had I waited for luck to work in my favour, it would have led to inaction on my part. I would have waited for a HR head to respond, a consultant to revert, or worse, give up. When we depend on luck alone to favour us, we may look for instant results; lack of instant results make us believe that we have failed. So, we may lower our standards, reduce our asking rate, or quit our quest. If I had put in a lot of effort without faith, I would have gotten tired and would have given up due to exhaustion. Both together, keeps one in faith. By staying in faith, we continue to move forward. We may alter our path as we deem fit or even change course if that’s appropriate for us.
IN CONCLUSION
So, trust yourself that you will reach your goal and that mistakes or successes are a part of the path. To check if you are in faith, ask yourself: Are you flowing? And if you are taking even one step forward, then you are flowing and in faith. The faith in yourself, to take one more step despite adversities, rejections, selfdoubt, or criticisms, will help you to create your luck. Otherwise, luck is just a myth that we create to justify our lack of faith in ourselves. So, keep flowing with faith to create luck through your efforts.
www.leaderonomics.com | Saturday 01 December 2018
7 KEY TRAITS OF SUCCESSFUL ENTREPRENEURS By ALAN MANLY editor@leaderonomics.com TARTING a new business venture is not for the faint-hearted. Like a rollercoaster, there’s plenty of anticipation and excitement as you gear up towards the big launch. Everything feels great. You’re surrounded by excited people who want to get involved or invest. Enthusiasm abounds as the business takes off, but as time goes on and the market adjusts to your presence, things get a lot tougher. These inevitable lows can be incredibly lonely. It takes a special combination of traits to successfully navigate these ups and downs – and it might surprise you to learn that not all of these traits are positive. So, what are the key traits of a successful entrepreneur?
S
5
READ US ONLINE! Leadership insights on the go at leaderonomics.com
Do you ever wonder where entrepreneurs or start-up founders get all their energy and motivation from? Passion and purpose are two of them, both of which are key elements that fuel entrepreneurs to achieve their goals. Check out this article: bit.ly/ entrepreneur-drive
PASSION
Passion is the magic ingredient that elevates a good idea into something super clever. It’s impossible to distract a true entrepreneur from their idea when they are in passion mode. If taken too far, this passion can lead to an unhealthy obsession, so it’s important to keep yourself in check and maintain a balanced life.
RISK-TAKING
Although no venture is without risk, willingly putting the family home or any other major asset on the line without proper consideration is just irresponsible. In the extreme, this sort of reckless disregard can have harsh legal consequences. Maintain a healthy fear of failure and you’re less likely to take risks that jeopardise your personal or business assets. If you are considering such a move, do some thorough soul-searching and get expert financial advice.
EGO
All entrepreneurs are egotistical. It goes with the territory. After all, it’s their vision – why shouldn’t it be done their way? An entrepreneur who’s not egotistical enough may compromise too often
to please others, resulting in an inferior result. But things can quickly go south when an entrepreneur fails to involve the team in key decisions, is reluctant to give others credit or is insensitive to their needs. Tread carefully. It’s a very fine line.
EMOTIONAL DISCIPLINE
Keeping your cool is a great asset when it comes to a crisis, important presentation or social event. It helps you steer the ship through stormy seas. If the captain starts to panic, the passengers will too. So, minimising the display of emotion is definitely a strength when it comes to business. But leaders who control their emotions too tightly can be accused of lacking empathy and failing to appreciate the feelings and concerns of others. It’s important to get the balance just right to ensure the stability of your team.
CHARM
How could charm be anything but positive? A leader with plenty of charm is great at finding out what is on people’s minds, manoeuvring the conversation in a certain direction and leaving others feeling that they are understood. What could be better? Sadly, there is a point where manoeuvring becomes manipulating and that’s never a good thing. A successful entrepreneur knows where the line is.
WIT
Having a quick wit is essential. The ability to verbally dance around the most penetrating of questions will get an entrepreneur out of all sorts of situations. The quick-witted entrepreneur is able to leave the audience laughing even when bad news is everywhere. Wit becomes deviousness when the joke is at another’s expense, and that doesn’t look good on anyone.
MARKET KNOWLEDGE
Every entrepreneur has the advantage of having researched the market for their product for the ubiquitous business plan. An enthusiasm to understand and share this knowledge is vital when attracting new customers or investors. Bore a hapless individual with a lengthy conversation about market trends, however, and your strength has just become a weakness. A little knowledge is dangerous but revealing too much, too enthusiastically to an uninterested person is just annoying.
TYING IT TOGETHER
All entrepreneurs have strong positive traits, but it is possible to have too much of a good thing. The key to finding a balance is self-awareness. Monitor your own emotions and understand how they affect you, your colleagues and your business decisions. If you can master that, you’re halfway there.
n Alan Manly is the founder and CEO of Group Colleges Australia, one of Australia’s largest private education institutions and recently launched the private MBA school, the Universal Business School Sydney. From a high school dropout to successful entrepreneur, Alan is a true disrupter in the private education space. He is the author of two books, The Unlikely Entrepreneur and When There Are Too Many Lawyers There Is No Justice. To connect with him, send an email to editor@leaderonomics.com.
6
www.leaderonomics.com | Saturday 01 December 2018
SUBSCRIBE TODAY at bit.ly/subscribeLD and get our e-mag delivered to your inbox weekly!
Like this article? Follow us @Leaderonomics on Facebook, Twitter, LinkedIn and Instagram.
How can organisations go beyond ideas that sound good and reach a place where real progress can be made? Utilising design thinking in the approach to problem-solving helps organisations step outside the box. To learn more, click here: bit.ly/ DT-problem solving
7
DIGITAL DISRUPTION WHY DESIGN THINKING HELPS By DR MURALI RAMAN editor@leaderonomics.com
N
OT long ago, before the advent of the Internet and its component technologies, the term ‘taxi’ would probably resonate with several attributes such as a car having a particular standard colour (blue/black/ yellow/red), owned and run by licensed operators, and perceived as expensive compared to taking a bus in many parts of the world. The Internet paved the way for the emergence of a new form of taxi service, a platform that empowers anyone with a decent car to become a taxi operator without the need to establish a dedicated company/operation to do so. Today, in many parts of the world, companies such as Grab, Uber and Go-Jek have become household names, allowing millions of customers to avail taxi services with better value. The value proposition of Airbnb (an online marketplace allowing individuals to lease or rent short-term accommodation) has revolutionised the hotel industry. In the financial service sector, digibank, a spin-off of DBS Bank Singapore, now allows customers to open a bank account in 90 seconds. These examples have become a must in any discussion pertaining to disruptive technologies.
DIGITAL DISRUPTION
n Dr Murali Raman is the director of the Business School of Multimedia University. As a coach and trainer for over 15 years, he specialises in three broad areas: design thinking and digital economy, leadership development using directive communication based on coloured brain and emotional drivers, and soft skills development. Dr Murali has published over 100 papers in international journals and conferences, including a book. He has also won numerous awards for academic leadership. To connect with him, send an email to editor@ leaderonomics.com
www.leaderonomics.com | Saturday 01 December 2018
Digital disruption can be defined in many ways. Searchcio.techtarget.com provides a useful definition: “Digital disruption is the change that occurs when new digital technologies and business models affect the value proposition of existing goods and services.” This definition implies that digital disruption relates to three major points. First, digital disruption has something to do with digital technologies that are driven by bits and bytes (binary digits that form the fulcrum of computational power), unlike their analogue predecessor. A common example would be the smartphone, in which its ‘smartness’ is derived from its capability to perform numerous functions based on applications driven by binary digits. The digital applications embedded in smart devices such as televisions, phones and portable devices connect seamlessly to the Internet and allow users to communicate, transact, learn, work and be entertained. Second, to become disruptive, digital technologies must be coupled with business models that offer specific or unique value propositions. The Global Centre of Digital Business Transformation discussed three major value propositions brought about by digital disruptors, namely: cost value (free/ultra-low cost, buyer aggregation and price transparency), experience value (models that provide customer empowerment, customisation and automation) and platform value (creating an ecosystem, communities of interest and crowdsourcing). Third, the value proposition changes the way in which an existing product or service is consumed or delivered to the customer. In this context, the word change is vital, that is, change is the value of product/service often used as
a direct outcome or measure of digital disruption that can typically be measured on a scale. To illustrate, using PowerPoint to present a lecture in a physical class or at a university is a form of digital technology, albeit not a disruptor. However, the possibility of offering college education, without the need to attend any class physically, would be considered a disruption. Harvard Business School in 2015 stated that Design Thinking (DT) is a competency that managers and leaders must have. The processes within DT can assist organisations to better manage and address digital disruption.
DESIGN THINKING
The inherent ideas and ideals behind DT are not necessarily new. However, DT presents a systematic way of injecting creativity and innovative thinking in any company. DT offers highly specific tools and techniques in a simplified manner. These tools are then used to derive the magical inspirational values of DT. DT is defined as a user-centric collaborative approach in problem solving. The design school (dSchool) at Stanford University prescribed a five-step DT process. This five-step process and what each process means are summarised in Table 1.
WHY DT HELPS
A 2014 study by the Design Management Institute shows that design-centric companies, such as Apple, Coca-Cola, P&G, and Nike, tend to outperform the S&P500 by more than 214 per cent. The following points/themes (based on my own experience as a trainer and researcher in DT) are possible explanations regarding the relationship between DT and positive performance in an organisational context:
1
DT focuses on collaborative work — squashing the traditional silo mentality and mindset of working in
departmentalised isolation. DT projects often provide a conducive field for the cross-fertilisation of ideas and solutions from various experts in a company. When executed well, DT can produce breakthrough ideas – largely achieved by bringing in a group of diverse people in the organisation together, working in solving a DT challenge.
2
DT focuses on the customers – it takes an ‘outside-in’ perspective of the company, placing customers at the core of every idea or solution generated. Although the notion of being customercentric is not necessarily new, the DT process offers a novel way of examining customer centricity.
3
DT allows us to celebrate failure – the prototyping and testing stages of DT are highly iterative, moving back and forth between both steps, where ideas are continuously refined based on feedback from the end-users/customers. Stated differently, DT could save companies a large amount of money by failing fast in-house rather than failing in the market after a mega launch.
4
Define
DT stresses on the importance of listening – with empathy at the core of every DT project, one outcome of successful DT projects is their ability to promote a culture that provides everyone a chance to express themselves freely. Thus, a culture of listening to one another better is generated (both with internal and external stakeholders).
EMBARKING ON A DT JOURNEY
Prior to embarking on a DT journey, leaders should take the following pointers into consideration:
Why DT? The justification of embarking on a DT journey must be clear to the organisation. There are three possible reasons (based on my experience) that are often used by leaders when they sign-off on a DT project:
Empathy
1
DT Phase
Brief explanation
Empathy
The first step and arguably the most vital one in DT. Empathy focuses on having a deep understanding of customer pain points and emotional attachment to a given problem or challenge (called design challenge) in DT. Findings from the empathy feed naturally lead to the second step, namely, “define.”
Define
Focuses on getting deep into the problem from the viewpoint of the customer. During this stage, design thinkers spend time coming up with specific perspectives and try to offer game-changing propositions to the problem based on insights or hunches.
Ideate
A stage where design thinkers try and generate as many ideas to address the problem defined. Ideate is akin to a brainstorming session where ideas are seamlessly generated.
Prototype
Focuses on translating the idea(s) into tangible manifestations. A prototype is not confined to having a tangible product but also refers to simulations, mock-ups, or even campaigns depending on the challenge or issue that the organisation aims in addressing.
Prototype
Ideate
Sensitisation – DT projects are used to create more awareness amongst employees on what DT is, what it can do, and the inherent processes in DT. Leaders often hope that post completing a DT program or bootcamp, employees can use the ideas from DT to solve dayto-day work issues. In this context, the design challenges are often developed by a particular vendor and may not necessarily resonate with core issues faced by the organisation.
2
Test
Specific challenge – DT is used to address a specific problem faced by the organisation. Examples of projects that we have worked on include; streamlining financial and procurement processes, introducing 21st century learning methods, business model of IOT projects, increasing customer base etc. These challenges are often crafted on a joint basis between the DT vendor/trainers and the client organisation.
Test
The final step stresses on the importance of pitching the idea to indemnified target groups; feedback is gathered by teams. The solution is then either launched or reworked accordingly until deemed fit for market launch.
Table 1: Stage of design thinking based on the work and experience of Stanford School.
3
Strategic – DT used as basis to revamp the overall strategic outlook. This requires much more commitment from leaders and key stakeholders. In this regard, DT projects are often
blended into an overall Digital Business Transformation initiative.
Selecting a Vendor There are many vendors or train-
ing providers that used the term DT, although they may not necessarily follow a prescribed methodology. Leaders in this regard should consider the particular methodology provided/suggested
by all potential trainers – making sure the methodology jives with the core objectives of using DT.
The Participants Participants selected for a DT bootcamp play a significant role in achieving any desired outcome of the intervention. We recommend that participants be made up of employees who are: l ready to learn new tools and have an open mind and heart for change, l willing to become DT ambassadors or champions, and l from a diverse background (often a blend between management, business, technology, and marketing groups).
COMMITMENT TO CHANGE
Leaders should, as Stephen Covey says, begin with the end in mind. Successful DT projects are often coupled with leaders who visualise DT as a compass that guides the organisation towards the right direction, particularly in addressing any potential digital disruption. Avoid thinking about DT as just any other training; rather use it as an opportunity to drive transformational change in the organisation—especially in dealing with digital disruption.
8
www.leaderonomics.com | Saturday 01 December 2018
SUBSCRIBE TODAY at bit.ly/subscribeLD and get our e-mag delivered to your inbox weekly!
Like this article? Follow us @Leaderonomics on Facebook, Twitter, LinkedIn and Instagram.
Stories. They are like nutrition for our souls. They are memorable because they connect with us at the emotional level. Here are 7 storytelling structures to help you become master storytellers: bit.ly/ StorytellingTips
ACHIEVING AUTHENTIC LEADERSHIP By LAVEENIA THEERTHA PATHY editor@leaderonomics.com
A
S a kid, I remember eagerly waiting for meal times. It wasn’t the food I anticipated, but the stories my mother would tell me to get my
n Laveenia Theertha Pathy is a youth worker, writer, leader and change-maker who is passionate about people, sustainability, learning and growth. Still in the process of overcoming her fear of cats, she’s eager to make a difference in the world, one small step at a time. Connect with her by sending an email to editor@leaderonomics.com.
attention. Being a new parent myself, I’ve come to realise how important it is to think on your feet; searching your brain for music, nursery rhymes, and even composing music and stories spontaneously just to get your little one’s attention. Upon reflection, it hit me how much stories actually shape us. We thrive on the narration, the content, the lessons and how we etch personal meaning to these stories that would later be used to guide us in life. There is a certain magical element in stories as well as the storyteller. However, we lose sight of something very basic as we get older because our attention is consumed by more important things. We focus on the process of getting things done and leave very little room to inspire ourselves as well as others. These stories, whether fictional or based on experiences, when shared, can change the perspective of many. It is the beam of hope everyone looks for in their own lives to attain that goal, chase that dream or stay motivated.
CONNECTING WITH EMPLOYEES
Asia has always been known for its high power distance work culture. For many years, leaders have always been separated from employees; be it in the way the office spaces are designed or how they connect with their employees. Employees hardly knew anything about their leaders; whether they have their own family or what their hobbies are. Leaders were always seen as unapproachable, someone whom you only liaised with for work related matters, with little room for personal exchanges.
This creates high power distance between a leader and their employees in a way that dehumanises them. However, with more Gen X and Gen Y taking on leadership roles today, emphasis is placed on flat structured organisations and leaders being more approachable to create a positive working culture. It is vital for leaders to also become inspiring figures to their employees. Research shows that employees today, especially millennials, are more loyal towards organisations that match their core values and have a significant impact in the community. If that is what the future workforce is looking for these days when they join an organisation, then it matters who their top leaders are and what they do. Steve Jobs was known to be a controversial leader as his methods were debatable, but he definitely would not be dismissed for being a fantastic and persuasive storyteller. He was convincing in selling his products because he was actually trying to solve a real problem – a problem that consumers did not know they had. Because he was motivated by something real, it did not take much for him to convince people why they needed his products. His storytelling method became the essence of why his products became highly marketable and in demand. Likewise, it is vital not only for top management but also divisional leaders to constantly be an inspiration to their employees to help them stay motivated and true to the vision of each department or organisation and this can be attained through storytelling. Employees need to know the ‘why’. What are they working towards; what is the impact if it is reached; and how as a team, they can reach their goals. If their leader, their anchor, isn’t able to paint that picture and constantly motivate them using emotions, it is unlikely for employees to follow suit or possess the fuel to go the extra mile.
AUTHENTICITY
Storytelling simply put, concerns matters of the heart. The heart is what makes us human as we feel emotions through the sharing of stories from experiences and aspirations. By sharing these stories, it helps employees identify if someone’s intent is genuine, and then decide if they want to board the ship with their leaders through thick and thin. In his book titled True North, Bill George defined authentic leadership as a leadership style that matches a leader’s personality and core values. The leader is honest, ethical and practical. An authentic leader is steered by his heart, often empowering others. The leader also engages in continuous personal growth and inspires others by drawing from his/her own personal life. This is where the aspect of storytelling comes into play. These charismatic leaders are not afraid to be open and vulnerable in front of their employees and share lifechanging stories, mistakes they have made, failures that turned them hardy as well as intimate and personal details of their lives, as long as it may inspire others. They don’t really have a single leadership style as everything is situation based; making them highly adaptable leaders. Because of their honesty, values and purpose that aligns with the organisation, they tend to captivate their employees with their genuine nature and ethical leadership qualities. Leaders who are storytellers are often authentic leaders who share their truth, live their passion, and drive people to thrive in their own element.
MASTERING THE ART OF STORYTELLING
The key to being a good storyteller is tapping into your own personal and emotional experiences. As individuals, we should engage in daily reflections to analyse our behaviours and choices to guide future life decisions.
Through reflection, we don’t just understand ourselves better, but it gives us an opportunity to track progress or any form of regression and see how far we are from our goals. Journaling can also be a useful tool to help pen out our reflections. In addition, these daily reflections help us form a story with varying plots, identify end goals, and steep curves and challenges to overcome. It enables an individual to identify with their emotions, check in with themselves and decide how to progress further. Lastly, it is also important to bear in mind that each individual is shaped by their own upbringing and experiences. This means it’s significant to find a common ground with others through stories despite the differences we may have. For example, if there is an idea or vision that you would like to get across, try to tie it to emotions as that will be a more persuasive approach for people to feel compelled to stay on track instead of just communicating points across. Tap into your imagination and creativity and help them envision what success would look like when something is accomplished. Have them describe what they may be feeling, how they will be celebrated, and what it would mean for each of them if they give it their all. This will help them form a personal conviction to a particular goal/task.
IN CONCLUSION
Essentially, stories are how we remember things. Bulldozing your way through a presentation, point after point, will not inspire everyone. However, enveloping key points with stories, tying it in with the human emotion and tugging on their heart strings will leave you with more attentive and committed employees who are able to understand their own purpose, values and how they can contribute towards organisation goals.
www.leaderonomics.com | Saturday 01 December 2018
By MIKE ADAMS editor@leaderonomics.com
I
T seems every second business article is about storytelling these days. But which stories boost customer loyalty? And how do you go about collecting and developing those stories? Customer loyalty is built through positive experiences — one customer experience at a time. Your customer’s experience can be direct, such as a physical interaction with your products and staff, or indirect, through the stories they hear, read and see. Every time your customers hear a story about your business, they’re having an indirect experience that affects their perception of you. Experience through story can create loyalty and liking for your brand before any direct experience of your products, services and people. Two story types, your company story and your values stories, are so important for customer loyalty that you must make the effort to prepare and deploy them. If you think about the companies you admire and like, you probably know stories about them. Why not create similar stories for your company and your customers? Just make sure you tell them as a sequence of related events and not as a list of facts. It’s the story’s unpredictable sequence that holds your audience’s attention and makes your story memorable.
EXPERIENCES THAT CREATE LOYALTY
9
READ US ONLINE! Leadership insights on the go at leaderonomics.com
Like this article? Follow us @Leaderonomics on Facebook, Twitter, LinkedIn and Instagram.
COMPANY BACKGROUND
When you look at your competitor’s website, do you read the same claims and assertions you make about your own company? That’s what most companies do, and to your buyer, you look the same as your competitors. But your company’s story is 100 per cent unique. There’s no other company like yours, so why not tell its story? How did your company start and who was involved? How did you succeed? What was the turning point? Were there false starts and failures? Most companies fail completely and go out of business, so how and why did your company succeed? The ups and downs of your company story are interesting and unique and it’s a story that binds your customer to you. The company story creates liking and positions your company as an authority.
THE IMPORTANCE OF VALUES
A lot of companies think they can just mandate corporate values through mission and values statements. That is completely misguided. The CEO or the leadership team think up some motherhood values statements and post them on the walls. Those don’t persuade. They may even communicate the opposite sentiment if actions do not match the words. It’s stories of people (especially leaders) who live the corporate values
that are truly eloquent. Computer manufacturer HewlettPackard (HP) is a storied company in the IT sector. HP people were famous for their values of proactivity and accountability. Their code of conduct was called the ‘HP Way’, and their corporate tagline was ‘We trust our people’. The history of that tagline goes all the way back to the company’s foundation in 1939, when it was a test equipment manufacturer. Every HP employee knows the story of how co-founder Bill Hewlett came in to work on a weekend and found the equipment storeroom locked. He smashed the door to pieces with a fire axe and left a note on the smashed door, insisting it never be locked again because HP trusts its people. The story that shows how a leader behaves is worth more than any number of corporate values statements. Employees and customers are influenced by what leaders do, not by what they say or write. It’s not an overstatement
to say that the HP story helped create one of the greatest companies of the 20th century, which in turn spawned the technology powerhouse of Silicon Valley. Apple co-founder, Steve Jobs, got his first job at HP. The hospitality industry is awash with values stories. I call them ‘lost wallet’ stories, like when a hotel guest left their passport or wallet in the hotel and the hotel clerk drove across town or to the airport to return it without asking for anything in return. These stories highlight the values of honesty and service. You can collect your own values stories by thinking about the values that are most important to you and your customers and then seeking out exemplary and surprising examples of when those values were displayed.
COMPANY STORY LIBRARY
As you collect and tell purposeful stories, you’ll soon appreciate how powerful they are. And you’ll want to store them
so every employee knows the stories and can tell them. The best tool for that is a company video story library. Capture one to two minute stories on video with a smartphone, upload them to a shared intranet page and get your staff practising them. With a story library, your entire company will be creating new story experiences for a growing, loyal fan base. n Mike Adams is a business storytelling specialist and author of Seven Stories Every Salesperson Must Tell. Mike has managed sales teams in the UK, Russia and throughout Asia for international corporations such as Schlumberger, Siemens, Nokia and Halliburton and has sold over a billion dollars of products and services over his career. Since 2014, Mike’s storytelling consulting practice, Growth in Focus, has been helping sales teams find and tell their best stories. To connect with Mike, send an email to editor@leaderonomics.com.
Stories. They are like nutrition for our souls. They are memorable because they connect with us at the emotional level. Here are seven storytelling structures to help you become master storytellers. Check out some tips from this interesting infographic: bit.ly/ StorytellingTips
ASEAN companies can stand tall with other global players; we just need to tell our compelling stories to the world! Check this out on Leaderonomics. com: bit.ly/ GGstorytellers
10
www.leaderonomics.com | Saturday 01 December 2018
SUBSCRIBE TODAY at bit.ly/subscribeLD and get our e-mag delivered to your inbox weekly!
Like this article? Follow us @Leaderonomics on Facebook, Twitter, LinkedIn and Instagram.
Normally, gratitude is shown mostly to family and friends but how about people from work? While most don’t associate this emotion with their workplace, have we pondered on how expressing this feeling can actually be a turning point in an organisation? Check it out here: bit.ly/LDRgratitude
BENEFITS OF GRATITUDE HERE’S WHY IT’S IMPORTANT IN THE WORKPLACE
By NAZ BEHESHTI editor@leaderonomics.com
G
RATITUDE is the gift that keeps on giving. Giving thanks throughout your organisation is not only noble, it’s smart. Mindful business leaders who are wise and generous enough to make it a year-round practice will be rewarded with healthier and more robust organisations. The benefits of expressing gratitude are well-documented. A study found that making a regular and deliberate effort to record one’s blessings improves a range of outcomes related to mental health and overall well-being. Keeping a gratitude journal is an increasingly popular personal practice. Yet for a variety of reasons, we are hesitant to show gratitude in our professional lives. A survey (conducted by the John Templeton Foundation, which also funds an Expanding Gratitude project at UC Berkeley), shows that people are least likely to express gratitude in the workplace despite feeling a desire to be thanked more often at work themselves. We have to get over whatever is holding us back from giving thanks in the workplace. Gratitude should be the central feature of a company’s culture.
support one another”. Concrete ways of showing appreciation for an employee as a whole person include offering flexible work arrangements when appropriate, and a willingness to support employees in their overall life and career goals. Business leaders who present themselves as more of a partner than a boss positively impact their team’s happiness and outcomes.
THE NEGLECTED ART OF CONSTRUCTIVE PRAISE
Two workplace surveys turn up some revealing numbers about praise in the workplace. In general, managers confess that giving feedback – especially negative feedback – to their direct reports is stressful, and 21 per cent avoid doing so at all. Yet, surprisingly, 37 per cent admit they also avoid giving positive reinforcement. This reluctance to give praise in the workplace stands in the face of a great deal of research on the benefits of positive feedback. According to Gallup, engagement rates for employees whose managers focus on their strengths are more than double of employees whose managers focus on their weaknesses. IBM’s Smarter Workforce Institute, in a survey of over 19,000 workers in 26 countries, found an even higher disparity and also concluded that recognition could dramatically improve employee retention.
GRATITUDE BUILDS RELATIONSHIPS
n Naz Beheshti is an executive wellness coach and consultant. She empowers leaders to tap into their highest potential for creativity, vitality, and success though mindset and behaviour change. Naz is the founder of Prananaz Inc. To connect with her, send an email to editor@leaderonomics.com
Perhaps executives and managers might be more likely to dish out praise if they framed it not as feedback, but as part of a larger process of building relationships. Gratitude is a powerful concept. It goes beyond praise, and beyond positive reinforcement. Gratitude is a recognition of our interdependence, of the fact that success is the result of team effort. Showing gratitude, therefore, involves showing vulnerability. It is not easy to acknowledge that we need someone, but doing so is a sign of strength, not weakness. In his research on gratitude, Adam Grant addresses the related concept of social worth. In a fundraising call centre, he and a colleague found that a simple personal visit from the manager – explaining the value of the work the callers were doing and thanking them for it – resulted in a 50 per cent jump
GRATITUDE COSTS NOTHING... OR DOES IT?
in the number of calls made. They concluded that the difference was not due to increased feelings of self-efficacy (feeling competent and capable) but to a sense of being socially valued.
Gratitude is a recognition of our interdependence, of the fact that success is the result of team effort. Gratitude is not just about building relationships between you and your employees, but also between employees and the organisation as a whole. Four in five (81 per cent) employees report they are motivated to work harder when their boss shows appreciation for their work. When gratitude becomes a regular organisational practice, employees will
feel both appreciated and valued, and their productivity and engagement will increase by leaps and bounds.
SHOW APPRECIATION FOR THE WHOLE PERSON
It can be tempting to limit praise and appreciation to the task at hand. After all, every organisation has its strategic objectives, and leaders have to ensure that employees are contributing towards meeting those objectives. However, in an economy where change and disruption are the norm, employees feel a growing need for other kinds of support. The Gallup study cited earlier found that employees are looking for more than just good communication about their roles and responsibilities at work. They want to feel comfortable approaching a manager about a range of subjects, whether work-related or not. “A productive workplace”, the authors conclude, “is one in which people feel safe – safe enough to experiment, to challenge, to share information and to
Articles about gratitude often stress that it involves an investment of time and effort, but not necessarily of money. That is true up to a point. Yet it is essential to keep in mind that financial rewards can make expressions of gratitude more compelling. A Glassdoor Employee Appreciation survey reinforces many of the findings summarised above. Appreciation is the most powerful driver of employee motivation, loyalty and job satisfaction. The survey also finds that a pay raise is the most effective show of such appreciation. Respondents rated a pay raise and other unexpected rewards like bonuses well ahead of other expressions of gratitude.
IN CONCLUSION
Today’s employees expect more than a transactional relationship with the organisations they work for. They want to feel their work has meaning and that their contributions are valued. Financial compensation is an important piece of that puzzle. Conscious business leaders are generous with both financial rewards as well as with non-financial rewards. We are heading into the holiday season when we are reminded of what is most important to us. We will soon be approaching the end of the year when we take stock of the past year and set goals for the coming one. We can all find more room for gratitude in both our personal and professional lives. This is a perfect week to translate our feelings of thankfulness into a daily practice.
www.leaderonomics.com | Saturday 01 December 2018
ARE YOU BURNING OUT?
Learning to take some time off and/ or work remotely is a way to put some distance between you and your business. This space provides the opportunity to look at the above issues more objectively and to come up with solutions. The juggling act that every business owner needs to work on is reducing the stress and at the same time, developing healthier lifestyles. If we can eliminate, or at least reduce, the stresses identified above, we will naturally feel more energised and more positive about our life and our business, and that will encourage us to take better care of ourselves. The overall end result is our business will run more effortlessly, we make more money, we enjoy the process much more, and we live longer.
HERE ARE 10 REASONS THAT COULD BE STRESSING YOU OUT By ANDREW GRIFFITHS editor@leaderonomics.com
and worrying about how you will pay your bills 3. Over-commitment – agreeing to do too much for too many people and not leaving enough time or energy for yourself 4. Poor stress management – not knowing how to manage your own stress or not being able to admit that it is a problem 5. Relationship issues – with partners, family and friends, co-workers, and customers 6. Poor lifestyle – eating badly, lack of exercise, and alcohol and drug abuse 7. Lack of direction – feeling trapped and isolated in the business and uncertain about your future direction 8. Lack of boundaries – being too accessible to too many people 9. No space to rejuvenate – no holidays, time off, hobbies or distractions to remind you why you do what you do 10. Having a negative environment or negative people around you every
R
UNNING a business can certainly be challenging. Burn out is a real problem for business owners, especially as we all get busier, face more demands and try to develop the ever-increasing skill set that we need to run our businesses. We need to know when it’s time to recharge our batteries. If you are feeling under pressure and stressed out, perhaps even exhausted, check through the following list of the ten most common reasons for getting out of balance in the first place – most build up over time. The more items on the list that you can relate to, the more likely it is that you are risking burn out and you need to take action: 1. Overwork – simply putting in too many hours and being a slave to your business 2. Financial problems – struggling to make ends meet in the business
11
n Andrew Griffiths is an inspirational mentor, global speaker, and an international best-selling author with 12 books now sold in over 60 countries. To connect with him, send an email to editor@leaderonomics.com.
day If you have all of these issues to deal with, a brief holiday will help you in the short term. But more importantly you need to make some major
changes to your business and your life, or you will simply keep repeating the burn-out cycle. Ultimately, this may cost you much more than you could imagine.
If you are experiencing burn-out, no amount of external motivation can alleviate your thoughts and emotions. One way out is to adopt self-care strategies that will help you adopt new perspectives. Here’s how: bit.ly/SSburnout
Online Exclusive Emulating Sherlock Holmes is no easy feat. For one, he is fictional and his extremely supercharged personality might not fare well with others and can cause disharmony. That said, his exceptional quality of work can be derived from his positive traits – qualities that can be learned and developed. To learn how to develop those traits, read: bit.ly/ThinkLikeSherlockHolmes
Discovery is seeing what everybody else has seen, and thinking what nobody else has thought. — Albert Szent-Gyorgyi
Jamie Andrew is a Scottish mountaineer who lost his hands and feet in a tragic mountaineering accident 19 years ago. Listen to him share various leadership lessons that he learnt on his journey from hospital bed to mountain summit at: bit.ly/RYGmovingforward FOR other great leadership insights, including those by John Maxwell, visit www.leaderonomics.com. If you missed any of our past issues, go to www.leaderonomics.com/publications and download for FREE! EDITOR ROSHAN THIRAN MANAGING EDITOR LYDIA GOMEZ
DIGITAL CONTENT LEADER (BAHASA MALAYSIA) YEOH LIN LIN HEAD OF SALES OWEN NG
ASSISTANT EDITORS CHRISTIE CHUA KHOR HUI MIN LOUISA DEVADASON MICHELLE HARRIS ROUBEENI MOHAN DESIGNER WAI BEE
WRITERS & CONTRIBUTORS KARIN HURT RIDDHI PARIKH MEHTA ALAN MANLY DR MURALI RAMAN LAVEENIA THEERTHA PATHY
Like us at www.facebook. com/Leaderonomics/
MIKE ADAMS NAZ BEHESHTI ANDREW GRIFFITHS DARREN FLEMING
Follow us @leaderonomics
This Leadership Guide Is Powered By
Untuk kandungan pembangunan kepimpinan dalam Bahasa Malaysia, kunjungilah portal BM kami di www.leaderonomics.com/bm atau halaman Facebook kami @LeaderonomicsBM.
12
www.leaderonomics.com | Saturday 01 December 2018
SUBSCRIBE TODAY at bit.ly/subscribeLD and get our e-mag delivered to your inbox weekly!
Like this article? Follow us @Leaderonomics on Facebook, Twitter, LinkedIn and Instagram.
n Darren Fleming is a speaker, author and trainer who specialises in helping salespeople increase their sales and grow their margins. Using a practical, down-to-earth and clean approach, he shows his clients how to sell more to their current customers. He is the author of Don’t be a D!ck Creating Connections That Make Influence Happen. To connect with him, send an email to editor@leaderonomics.com
By DARREN FLEMING editor@leaderonomics.com
W
HEN most business owners think of their business assets, they think of cash in the bank, stock on hand and the pipeline of future sales. While these are important, they are nowhere near as crucial as the intangible asset of trust. Without trust, you have nothing. Trust is usually only spoken of as ‘good will’ when the business is being sold, but it is so much more than that. It needs to be front of mind in everything we do. Trust can be easily established, but just as easily broken. Once it’s broken it can take years to reestablish. Trust is our natural state. We trust people to keep their word, drive on their side of the road and play by the ‘rules of business’. When we have trust, we can make plans, achieve goals and operate with reduced stress. But when it is missing, business slows down, plans fall over and cash dries up. Trust is about playing your part for the greater good of yourself and others. If you only play your part for your own good, then people won’t want to deal with you. If you play your part for the greater good of others and not yourself, then you’ll not make any money. Trust helps grow your business in three key areas:
1 STAFF
Having a depth of trust with your staff allows you to step back from the daily minutiae of running your business. It allows you to focus on the bigger picture and strategic plans for what you want to achieve. You can manage the major accounts, negotiate better deals
THE VALUE OF TRUST
sive trust by the way you handle the fallout from it. Build trust by: Being consistent across all areas - pricing, delivery and quality of product. Nothing kills trust faster than having to check every invoice to ensure the price is correct! At the end of the day, business is about trust. We need to be able to trust those around us, and they need to be able to trust us. Protect your trustworthiness in the same way you protect your stock.
with suppliers or simply enjoy some time off – after all you didn’t go into business so you could work 12 hours a day! Having deeper trust with staff also builds connection from them to you and your business. When this connection becomes strong, you tap into their discretionary efforts. When you do this, they willingly go above and beyond their job description to help your business grow. Build Trust by: Listening to staff. Your staff are at the frontline of the business and can know more about what is happening than you.
hours delivery so you can complete an order for that important customer. Building trust with suppliers reduces sticking points in your operations. If you know you can rely on them and they can rely on you, friction is reduced and so too is stress. Build trust by: Paying on time. No one likes to have to wait to get paid for their work. Be easy to deal with – no one likes dealing with the proverbial pain in the back side.
2
Trust with customers is the life blood of your business. Without it you may as well close the doors. Trust with customers builds repeat business, wordof-mouth referrals and increased sales. Trust also has a shielding effect for your business. When the inevitable stuffups happen, the trust you have built up can help get you through. It is also in these stuff-ups that you can build mas-
SUPPLIERS
Suppliers are essential in every business. Without them, you do not have a chance to value-add in your customer’s supply chain. When you have strong trust with a supplier you can call on favours when needed. This might be an extension of terms to help with cashflow, or an after
3 CUSTOMERS
Trust and relationships go a long way in building a healthy and productive working environment. Through our ‘Building Trust and Relationship Simulation’ with Knolskape, participants will be able to identify their relationship style, build trust to accelerate business development, influence others and resolve conflicts, become a trusted advisor by increasing their confidence and capabilities, build customer loyalty by understanding the client’s solutions. Contact info@ leaderonomics.com for more details. Trust is a very delicate thing. It takes time to build but just seconds to break. In this Be A Leader video series, Leaderonomics co-founder Roshan Thiran shares on how leaders can establish trust in the organisation. Check out this video from Leaderonomics Media: bit.ly/BALtrustme
UNFORGETTABLE. TRANSFORMATIONAL.
MOVE INTO THE WORLD OF IMMERSIVE LEARNING with Based on the true story of Swiss executive J.P. Mottu, who in 1988 found himself in charge of saving an employee kidnapped by Colombian rebels, the program thrusts participants into real-life negotiations that had been kept secret for over 25 years. As individuals and in groups, participants are immersed in an interactive experience incorporating film, multimedia, and live moderation. The high-stake situation experience allows them to exchange invaluable insights and forge memorable relationships with peers.
MOST LEADERSHIP DEVELOPMENT COURSES TEACH YOU SOMETHING. GEORGE KOHLRIESER AND OUR TEAM WANTED TO DESIGN A PROGRAM THAT AWAKENS SOMETHING IN YOU. Edouard Getaz, InsideRisk Founder
InsideRisk is a unique way to enhance your ability to think critically and thrive within constant change.
Watch the trailer at bit.ly/InsideRiskLDR
For more information, email info@leaderonomics.com