Strategy/Analysis Archives - Page 27 of 48

Are You a Freelancer or a Solo Entrepreneur? Use Guy Kawasakiâs Mantra as He Meant

November 20, 2006 by Liz

Guy Didn’t Mean Don’t Have a Vision or a Plan

With the start of the Perfect Virtual Manager, I’ve been talking a lot to bloggers. Even more interesting is that I’ve been not talking to a lot of them. I’ve noticed something about people who work outside of a traditional setting. We fall into two categories: freelancers and entrepreneurs. Some think they are one, and they’re really the other. Which one are you? Do you know that for sure?

Guy Kawasaki wrote a wonderful post in January called, Mantras Versus Missions. Thank you, Roger von Oech, for reminding me of it. You see, I think some folks do as Guy suggests — make a mantra — and unfortunately, they stop there. That’s not what Guy said to do. He was talking about replacing a mission statement with something more focused. His mantra was meant as a guiding force, not as a replacement for a business plan.

A person with fabulous skills and only a mantra is a freelancer not a solo entrepreneur.

The two think and work differently.

Do you know how to tell a freelancer from a solo entrepreneur?

Turn the page and I’ll show how.
[Read more…]

Booz Allen Hamilton on Money and Innovation

November 19, 2006 by Liz

I Agree, But I’m Not Surprised

On November 13, Booz Allen Hamilton released the 2nd Annual Global Innovation 1,000 Survey. Business week’s Jesse Stanton summarized the study in an article “How to Turn Money Into Innovation,” on November 14.

The study, which analyzes the relationship between R&D spending and performance, focused on the 1,000 public companies located anywhere in the world that spent the most on Research and Development in 2005. The study by Booz Allen Hamilton found that

R&D spending is on the rise, but as a percentage of overall sales it is falling. Companies are finding ways to optimize their investment in R&D.
Gross profits as a percentage of sales is the ONLY PERFORMANCE VARIABLE THAT SHOW A RELATIONSHIP.
No correlation exists between R&D spending and the number of patents that result.
Sales growth, financial performance, operating profitability, and earnings growth show NO STATISTICAL RELATIONSHIP to R&D spending.
An increase in outsourcing to and funding in Research and Development in China and India is being fueld by a need to be closer to fast-growing markets

The Booz Allen Harrison study showed that some companies have learned how to successfully underspend in R&D and overperform in providing innovation — their spending on average half as much on R&D as their peers in industry, but their performance is as much as three times higher. The companies that stand out in the study include Kellogg, Apple, Boston Scientific, Tata Motos, Christian Dior, and Kobe Street.

High innovating companies each follow their own unique model.

Black and Decker coordinates design from its worldwide headquarters, but aligns R&D closely with individual business units.
SanDisk strategic decisions are made by a small group of executives who meet biweekly.
Google generates ideas as part of its distinct skills set.
Toyota develops products and processes effectively and efficiently.
Apple understands customers and product selection.

The similaries found in the Booz Allen Hamilton Survey weren’t surprising.These common factors included what Booz Allend called a “value chain.” The value chain speaks to four key areas in which highly innovative companies exhibited strong competency: ideation, project selection, product development, and commecialization. Innovation is a company-wide investment.

Sustainable innovation depends on having the tools and processes to move from ideation through commercialization. Second, successful companies link R&D with CÃ¢â¬âcustomers. At Illinois Tool Works (ITW), for example, R&D engineers are required to spend time working in customers’ plants — Business Week Online on the Booz Allen Hamilton Blogal Innovation 1,000.

Mr. Stanton asks for more concrete answers. I find the value chain confirmation here is powerful enough model. Innovation thrives in a culture that values innovation beyond the simple action of throwing money in the direction of generating new ideas. The investment of currency in innovation has to be considered, thought through as any sound business venture does. Such an invetment recquires thoughtful process from ideation through the decision to move forward on a project, through every customer centered decision that drives the development, to each piece and parcle that introduces and informs the public about the new product during the commercialization phase.

In other words, innovation must be based in quality thinking that that stands on a firm and deep intimacy with the customers’ experience and understanding of the customers’ needs. That is the key driver to productive and useful innovative change that fuels growth.

How new is that idea?

–ME “Liz” Strauss

Click the title to read the Business Week article

Adventure Mode and Airports . . .

November 17, 2006 by Liz

Thanksgivng is the busiest travel time of the year.

I used to travel a lot — not as much as some, but way more than most. For almost three years, the longest time I spent with my pillow was 21 days and that only happened once. Several times I was away over 40 days. I got good at traveling.

What I learned was to go into adventure mode. I bet you remember adventure mode from childhood. It’s that way of looking at the world as if everything is an adventure — a game, something fun and exciting.

When a plane was delayed, adventure mode would kick in. I would start looking for where the story would begin. Everyone knows that no matter how awful a traveling delay can get, if you get a good story, it’s not a total and complete wipe out.

My best story is when I was stuck in an airport for four days.

If you travel over the holidays, be safe, travel well, and come back to us. If you run into delays, remember adventure mode . . . and bring back a story to tell us.

Liz's Signature

6 Easy Steps to a Career Basecamp in Cyberspace

November 16, 2006 by Liz

It Was Someone Else’s Turn

When our son was 9 months old, my husband said to me, “I’ve done everything I want with my career. From this point I don’t expect a lot of new challenges — 21 years is a long time. It’s someone else’s turn. . . . You’re having such fun with what you’re doing. If you can replace my salary, I’ll stay home with the baby.”

I did. He did.

This morning I realized that 21 years later, I had a similar conversation at a trade show. A VP asked why I started blogging. This was my reply.

“Because I was a VP of Publishing, this industry sees me as a product person. Folks don’t value my experience in marketing, acquisitions, and training.”

He said, “You’re right. When I look at a resume, I look at job titles first. Then, if I’m interested, I look at skill sets.”

“That’s why I blog,” I said. “My blog is a 360 degree resume. It’s an ongoing interview in cyberspace.”

It’s true. A blog can be that.

These days no one has job security. Everyone needs an updated resume. Why settle for only a resume?

You can blog your way to brand that defines who you are and what you do much more completely. Make your blog a foundation — a career basecamp in cyberspace — a showcase of skills and expertise you have that future employers and clients need.

Turn the page. I’ll show you how.

[Read more…]

Critical Skill 7: Bias Toward Action with an Eye on Opportunity Cost

November 7, 2006 by Liz

Failing Faster Isn’t Enough.

Three tasks on a desk. Three people are asked how to do them. One says jump in and get started “Just decide.” The second, more thoughtfully offers, “Wait. Let’s study them first.” A third person walks in to say, “Why are you wasting your time on revamping our flagship product? Use those resources to take down our competitor’s newest entry.”

Which of the three has the right approach? Put them together, and they all do.

It’s true, if we don’t act, we won’t move forward. If we don’t risk failure, we’ll not learn or innovate. Planning and packing and moving on that trail used to be the explorers’ way. Being an innovative explorer is no longer enough. That philosophy has a major part missing.

[Read more…]

Bookcraft 2.0: Why Bloggers Choose Better Titles than Authors

November 6, 2006 by Liz

In a conversation with Phil early this morning, we realized we are ready for the collaboration part of this endeavor. Here’s how it will work:

Phil will choose two days or evenings per week we can meet via voice.
He’ll arrange his time so that after each call he has a block of writing time.
I’ll arrange my time so that before each call I have prep time. I’ll send a list of the pages we’ll be talking about.
When we talk we’ll cover 3-8 pages in one section, discussing what rewrites they might need to flow together.
Phil will do the rewrites immediately after.
Phil will hold all of the rewrites until we’ve been through the entire first pass of the book.

Now the book is shaping up as a whole. We’ll be looking at how things fit together and flow. One of the relevant key word strings in Phil’s working title is “practical tips.” On the pages, we made a rule that each page has a real-life application of what Phil has described. During our two phone calls each week, we’ll be testing each tip to make sure that there are no repeats, that all of them can be done, and all can be called practical.

We’ll revisit the working title even more often than we already were.

The cover and the title are a promise of what is inside of the book. So we are careful to constantly revisit the title to make sure that the choices we make are in keeping with what our goal is.

This is where bloggers outshine the average off the street author. Bloggers know the value of relevant key words. They know readers search for important terms.Bloggers understand from their daily publishing that they should call a book what it is, not something clever that readers won’t understand.

We’re scaffolding down to a manscript that is beginning to be more like a book.

–ME “Liz” Strauss
If you’d like Liz to help you find or make a book from your archives, click on the Work with Liz!! page in the sidebar.