Peter Drucker

All posts tagged Peter Drucker

New Ideas - wcp 2014

Leader or Manager? – Vive la Différence!

The terms leadership and management are often used to describe the same person or even used as though the words are interchangeable. They are not. The differences between leadership and management are vast and varied and placing the wrong person in the wrong position could have dire consequences for your business.

Leaders are rarely great managers and vice versa. Both are much needed and both have very different skill sets needed to build and sustain a successful modern business.

In his book: Management, the Individual and Society, Peter Drucker stated that “Management is doing things right; leadership is doing the right things.” Whilst the phrasing of this is a little “clunky” I have thought about the quote over many years and I cannot really improve upon it.

There is no hierarchy between the two but it is important to recognise which is which as early as possible both to ensure each individual receives the best training and support and to plan where in your organisational structure these Leaders and Managers are going to fit. Understanding who your leaders and managers are will assist in strengthening your organisation and its corporate culture and morale.

Good leaders have a unique ability to rally team members around a vision. Their belief in the vision is so strong, and they are so passionate about achieving it that team members will naturally want to follow them. Leaders also tend to be willing to take risks in pursuit of the vision.

Managers, however, are far more adept at executing the vision in a very precise and systematic way, taking responsibility for the infrastructure and detail of the vision and working with the team to see the job done. Managers are usually very risk-adverse.

It is the combination of these two skill sets working in harmony which often differentiates two seemingly similar organisations.

I have often likened leaders & managers to composers and conductors. The composer creates the dream or vision and the conductor delivers it.

By, Neil Steggall

 

The Barking Mad Blog

Business Advice with Bite

http://wp.me/p401Wv-gZ

 www.wardourcapital.com

Logo Small wcp 2014

A Paradox - WCP 2014

The Business Planning Paradox 

Some years ago I sat on the Australian board of a major US consumer goods company when the news came through that our regional boss in the US had retired and was been replaced by a newly retired US Army General with no business experience – imagine our misgivings!

Our new boss, let’s call him “Bud” arrived in Australia three weeks later to sit in on the presentation of our revised and much changed 5 Year Strategic Plan. He sat patiently through two days of presentations, projections, detail and the final summary asking pertinent questions and seemingly agreeing with our logic and direction.

On the third day, in our windowless board room, he kicked off the questioning by asking me “Son, how much faith do you personally have in this plan, would you bet your career on it?” I was confident in our team’s research, logic and the plan presented so I answered in the affirmative with: I am confident Bud and yes I would bet my career!

“Son I am saddened because you must be a lot dumber than I was thinking” was Bud’s response!

This was a bit of a downer to say the least. Bud continued:-

“Son I served in supply in Vietnam can you imagine starting your day at 5.00am not knowing where your troops were going that day, or how many would be alive or wounded that night, but knowing that wherever they were they needed mess tents and hot food, field hospitals, beds, fuel, ammunition, and vehicles to replace the damaged ones and if I let them down I let America down”

“Now Son my enemy was a lot harder to handle than your “competitors” so how helpful would a 5 day plan never mind 5 years have been to me?”

I assumed this was a rhetorical question and asked Bud just how he did plan his supply chain – I was incidentally impressed by the complexity of his logistics.

Bud’s response was to answer “Son I’m asking the questions today so let me ask you this; how far can you turn your head to each side?” around 90° each way, I answered, about 180° in total. “And how far can you lift and lower your head?” mmm, around 90° degrees each way “BULLSHIT!” he roared “you are very lucky if you can get a true 170° and let me tell you problems  will come at you from 360° and spherically so better be prepared!”

I may have made Bud sound like a difficult character, he wasn’t, he was different and we became friends and remained so for many years.

He had developed his famous 4 point plan to “Succeed in Everything” and here is the paradox: it was potentially an 8 Point plan! Let me explain:-

“The 4 point Plan to Succeed in everything”

RULE 1:

a)      Develop  a detailed written plan

b)      Don’t be too “stuck” to your plan

RULE 2:

a)      Calculate, Calibrate & Measure everything

b)      Don’t be bound by numbers, always look beyond

RULE 3:

a)      Constantly seek information, input and advice from others

b)      Follow your own heart & instincts

RULE: 4

a)      Delegate wherever possible

b)      Always retain control

Developing a detailed plan of where you want to be and how you plan to get there is to me absolutely essential to good management. Done well it involves bringing the whole team together to focus on the challenges and opportunities facing the organisation and the plans progressive development forces you and your team to think through each point, to question, determine and build a strong team vision.

 Don’t be too “sticky”! I like to think of a plan as a road map to guide us from point A to point Z, a very useful document without which many long journeys would fail. However if along the journey a bridge has collapsed or the mountain pass is blocked by a slide we have to put the map to one side and handle the blockage. So it is with business plans!

Calculating & Calibrating:  Peter Drucker said “What’s measured improves” and I am a huge Drucker fan. I am a bit of a numbers nut, I find spreadsheets akin to soothing pictures; when I sit down to review a business I enjoy dissecting the market, the innovation, the competition, the costs, expenses, cash flows and projections…….they can all be reduced to numbers and measured.

There is also a common corporate condition known as “Analysis Paralysis” this is the stage at which you can no longer see the wood for the trees. KPI’s are great but they can hide the bigger picture, so step back occasionally and look beyond the numbers – you may be surprised by what you see.

Seeking information, input and advice from others has long been a hallmark of good leadership and a strong indicator of an organisations culture and attitude. Until we strive fully understand every aspect of the market in which we operate, our relative position within it, our products relative positions within it, our financial position within it and the markets overall direction, wants and needs we are operating an incomplete structure, perhaps one lacking a vital component.

 A strong CEO or leader asks many questions in meetings or planning sessions but is careful in placing forward their views; they listen to, consider and weigh the advice, they read through the detail of market and financial analysis and then make an effective decision based upon their experience and their heart or gut instinct. This is what makes them leaders.

Delegation is another common denominator of strong leaders. Delegation not only provides leaders with more time to lead but it empowers subordinates whilst building their leadership and the organisations culture. It’s a wonderful, internal win-win!

A really good leader delegates on an 80/20 principle which I call “Loose, Tight, Management”. In effect 80% of decisions are safe, that is if the wrong decision is made it’s not life threatening to the Corporation but 20% of decisions are crucial and by keeping control over this 20% you always retain control of the whole.

A strong leader never criticises a poor decision or a failure arising out of delegation, these are valuable lessons for subordinates and each lesson well-handled builds the person and enhances the corporate culture.

The lesson I took from Bud was that there are few if any absolutes in an ever changing world and that the key to good planning is to understand exactly where you want to be whilst retaining the flexibility and the ability to change to adapt to changed needs and conditions.

The lesson was well taught and conveyed and as a consequence planning improved, I improved and the corporation improved and that is what “A Plan to Succeed in Everything” should deliver.

By, Neil Steggall

The Barking Mad Blog

Business Advice with Bite

http://wp.me/p401Wv-gz

 www.wardourcapital.com

Logo Small wcp 2014

Creating an Entrepreneur - WCP 2013

Creating an Entrepreneur!

Is it possible….YES it is!

 

Entrepreneurs can be seen as the rocket fuel of new ideas, they create new businesses and form new industries and in common with such dangerous fuels entrepreneurs can occasionally end with an explosion, yet despite the occasional explosion we have to accept that entrepreneurs have driven commerce and commercial ideas forward for millennia.

Why are entrepreneurs and sound corporate management generally seen as oxymoronic? A commonly held corporate view is that entrepreneurs are too highly individual, unpredictable, difficult personalities and when it comes to team work and the subtleties of the office culture…..well perhaps it’s best not to go there!

Is this a fair view in today’s market or a historical carry over? Well perhaps it is time to re-assess, as entrepreneurs are changing and today’s business schools and universities are turning out business and law graduates with specific qualifications in entrepreneurship.

Having a brilliant, yet well rounded entrepreneur within a company could provide a much needed boost for most organisations. Imagine; a manager who embraces autonomy, who can not only see the problems but looks beyond to the solutions and the potential opportunities which can flow from the solutions.

A new generation of innovative and creative executives who can transform  ideas into profitable ventures. They strike the perfect balance – they look, act and think like entrepreneurs, but they work for the corporation. As any manager knows, such entrepreneurial team members are a rarity; however, this need not be the case.

Why not change your management culture to enable your future leaders to become more creative and entrepreneurial by developing a focused culture where innovation and creative thinking is encouraged, supported and of course rewarded.

One of the main problems facing many organisations is that they have lost sight of the importance of fostering creative thinking and innovation. They have become afraid of change and in doing so they are placing their business at risk and allowing their competition a valuable advantage.

Innovation should be seen as your ultimate corporate advantage and innovation springs from the minds of motivated and engaged employees, yes your entrepreneurs!

In the sixth century Sun Zu said “you may survive though defence but you can only win by attacking” and more recently Peter Drucker said “Business has only two functions — marketing and innovation.” Of course the most efficient and lasting method of attacking your competition is through marketing and innovation.

So what can your business do to be more competitive, to as Sun Zu recommends, “go on the attack?”

A decision to attack can filter down from the board through the CEO or an entrepreneurial culture within the organisation of creative thinking and visionary innovation can develop the strategy and sell it up the ladder.

Either route is possible but the latter will always deliver a better result.

A successful organisations culture inevitably stems from good leadership. This doesn’t mean that the board or the CEO have great ideas, they may have, but more importantly they create the environment in which managers are given the freedom and confidence to experiment and innovate. A management team encouraged to think and innovate will be motivated and will form a strong and positive corporate culture.

So how can we turn this into reality and create an entrepreneurial environment in your organisation? Here are my 7 steps to creating an entrepreneur:

  1. Create the environment. Ensure that management feel free and secure in scoping new ideas, in testing the established methods, in questioning and innovating at all levels and across all ideas. Allow for failures, if one out of ten ideas succeeds that’s probably a good trend line, eventually one of these ideas will boom!

  2. Thoroughly research and understand your customer and market needs and how well those needs are being met, look at how your organisation and products are perceived and then turn the table and examine your competitors. Equalling the value of competitive offerings is not going to “cut the mustard” if you want to win you must always ensure that you are leading the field in Marketing and Innovation and following through on customer service. Encourage your team to be bold, be different and be the best.

  3. Assume responsibility for your organisations cultural change and encourage and empower people to bring forward and implement their ideas and innovations.

  4. Support, learn from and work through the failures. If you get two or three successful new ideas and one absolute winner out of every ten pursued you are ahead of the trend line.

  5. Constantly strive to improve, to innovate and to lead, implement a strategy of marginal gains (The Power of Marginal Gains http://wp.me/p401Wv-di ) you will be surprised by the strength of results.

  6. Never underestimate your competitors, look at today’s automotive brands compared with those of 30 years ago. The industry initially laughed at Japan’s underpowered, small cars with floral carpets and upholstery but few would laugh today. Again Marketing & Innovation win!

  7. Your staff are outstandingly flexible and reliable assets to be deployed in the building of your business. Never see them as a cost, create an atmosphere of respect, treat employees as the rare and valuable resource they are and you will both reap the rewards of an exciting and vibrant corporate culture.

Some of the best ideas and simplest innovations are from businesses that already have had such a drive or survived times of stress. Don’t always look to reinvent the wheel, occasionally take the world’s best wheel and simply improve it. Sometimes copying is the best route forward, look at how the Japanese destroyed the UK motorcycle industry in the 1960’s and 70’s, they initially copied the UK machines and then introduced innovative and more advanced products.

 In the end, innovation is an state of mind. Train your key people to think and see differently, to search every day for the new, the better, form, function, value and service. This is where Steve Jobs was masterful in transforming not only an industry which he had helped create but in transforming the culture of a major global enterprise.

The value of leadership and empowering your management is enormous and in truth no one has a choice in the matter. Everyone must adapt, change and innovate and we can all with training, help and enthusiasm become entrepreneurs.

Empowering employees to be innovative and creative, and encouraging a ‘can do’ attitude can reap rewards for everyone – whether monetary or reward based – and companies that do this are more likely to survive the recession.

A recent show on the ABC called Redesign My Brain, hosted by Todd Samson, shows just how adaptable to new ideas, concepts and skills our brains are.

It has been said so many times but the answer is to constantly look beyond the horizon and use 360 degree vision and thinking.

 

By, Neil Steggall

The Barking Mad Blog

Business Advice with Bite

http://wp.me/p401Wv-gv

 www.wardourcapital.com

Logo Small wcp 2014

Perception - WCP 2014

Market Perception – What Do You See?

What do you see? It is an interesting question. Why? Because what you see is often being manipulated by a process known as “Perception Marketing”.

Perception Marketing has become big business and until recently I had applied little thought to the question of Perception versus Reality. People apparently now build entire careers around Perception Management, they are not involved in Product Development and Product Improvement, their mission in life involves changing us! Changing our Consumer Perception!

My regular readers are familiar with my commitment to Peter Drucker as the essential marketing guru. His definition of marketing is: – “to take something useful and turn it into something desirable”. I thought I understood this, yet recently I have encountered some surprising and lasting, examples of perception marketing driven desirability.

A couple of weeks ago I was having a product discussion with my son, the CEO of a US based FINTEC company, and I offered the opinion that the product (under discussion) was crap! He answered promptly, “I know that, you know that, but the market perception is different and the market perception is reality”.

At first I was disturbed by this, isn’t it wrong to sell a substandard product, even if the customer is satisfied?  Well let’s think again before we decide.In Maxx  Barry’s 1999 satirical novel on marketing, Soda & Cie, he writes that “Marketing’s first golden rule is that Perception is reality”

New Scientist magazine recently published an article describing how researchers at Harvard tested a new painkilling drug as well as placebos on migraine sufferers. The placebos, despite their lack of real painkilling ingredients, were remarkably effective. “The placebo… accounted for more than 50% of the drug effect,” the scientists found.

To most of us this is hardly news; drug trials routinely incorporate control groups who are given placebos to assist in identifying results that are outside the standard placebo effect. Other drug trials have shown that tiny placebo pills can have stronger effects than large ones because they are perceived as especially potent. Placebo colour can make a difference, too.

I had to ask myself are placebos “my crap” or “market reality”?

The lesson for marketers is that our experiences are shaped by our expectations

Do we have other examples of “placebo marketing”?

Until recently we had a substantial investment in the wine industry. Wine is the ideal product to illustrate how marketing perception affects consumer experience.

Most of us and even those within the industry don’t have the honed palate of a master of wine, and how we enjoy wine is heavily influenced by what we think we know about the wine.

Perception marketing experiments showed that the same wine thought by a taster to cost $45.00 rated better than when it was thought to cost $5.00. Not only was this a win for the perception marketers, it actually lit up a wider area within the pleasure centre of the taster’s brains. In other words the perception became reality, it really did taste better to them.

It’s an example of consumers really believing “You Get What You Pay For” – yet again Marketing Perception has trumped reality.

This brings me back to Peter Drucker’s quote. Desirability may not be a product of quality but of expectation.

By, Neil Steggall

The Barking Mad Blog

Business Advice with Bite

http://wp.me/p401Wv-fp

 

www.wardourcapital.com

Logo Small wcp 2014

William Shakespeare WCP 2013

Much Ado About Nothing – When Doing Nothing Lifts Productivity.

In literary circles debate continues as to just what Shakespeare’s words relate to and that’s been going on for 400 years so let’s not expect too much management progress during the course of this article, however, its never too late to change and productivity improvements rapidly build the bottom line!

 “So much of what we call management consists of making it difficult for people to work.”

Peter F. Drucker

Now be honest….is this happening in your work place? Many managers and business owners still confuse activity with action. If phones are ringing keyboards clicking and people are rushing then we have action and action generates profit….right? WRONG!

Activity is all of the above but action is doing that what is needed, when it is needed and for the common good. Not all of us are as good at action as we might like to be.

There are days when it would be best if we just stayed away from work because on those days we are simply put – counter productive!

Five CPF’s (Counter Productive Factors) stand out in my mind and I have seen havoc wreaked by each and every one of them.

Let’s have a look at the 5 Key CPF’s:

The Hero Syndrome: This is the CPF which most trips my switches, the Corporate Hero who works all night drafting a document or arrives on a flight from Timbuktu at 6.00am and comes straight into the office. Unwashed, crumpled and lacking sleep do they really imagine they are going to be productive let alone make good decisions? Get home and go to sleep you naughty children!

The HUNGRY Warrior:  This manager is simply too important to take time to eat. As they have told everyone they arrived at work at dawn carrying a mega Starbucks (a bucket of luke warm, sweet liquid, usually brown) which has nourished them through to 2.00pm. Why they wonder are they throwing note pads, pencils, shouting and blinking back tears as their staff look on in joy? Its because your brain as ceased to function due to a lack of essential food. Go home eat and then stand in a corner until bed time!!

The Martyr: Don’t worry it’s only a sniffle, yes I am sweating, I ran for the lift, no my temperature has been steady at 40° all night and I should know as I didn’t sleep a wink! Ahhchoo!! Now how and why can this person possibly believe they can a) avoid infecting the innocent and b) make any contribution to the management of the organisation? Does this person think on a good day or can we excuse today’s silly performance on the basis of ill health. Go home immediately and wear a hair shirt for 24 hours!!

The Beast: It’s a long story which started late yesterday when driving home. Some absolute moron driving a “domestic car” would not let the beast into the traffic. Worse was to come. Finally home the beast’s life partner just didn’t care, the gin was Tanqueray and not BBR No3 as ordered and to cap it all the tuna was overcooked! Obviously sex was off the menu and our beast was again insulted in the morning traffic finally arriving 15 minutes late for the finance committee. The coffee was cold; the report still printing and the CFO was a moron. Now our beasty can actually be quite pleasant but too much work and not enough play has done its dirty deed. So Beasty go home, relax, and stay there until you can genuinely acknowledge that drivers of “domestic” cars have some rights and that your long suffering partner had done a great job over dinner and gin’s (authors note) –although BBR No3 is exquisite and really should have been available!

The Wolf: I am going to stretch your new age cred here and suggest that in my observation a section of our population is affected by Luna movements. Yes the full moon weirdos! I won’t blind you with science here but I knew someone who became so irrational with each full moon, his eyes became red rimmed and he was for a couple of days quite, quite mad! There have been others, far too many to mention who become just a little odd every 28 days or so. In fact my own family believe it best not to ask me for money or criticise any aspect of my being for this short period each month. Download a Lunar diary and monitor your colleagues, generally they can function but eccentrically so. Treat these sufferers kindly but discretely hide the knives.

“Efficiency is doing the thing right. Effectiveness is doing the right thing.”

Peter F. Drucker

 

By: Neil Steggall

The Barking Mad Blog

SMS Advice with Bite

http://wp.me/p401Wv-fk

www.wardourcapital.com

Logo Small wcp 2014

Fleeting Time - WCP 2014

The Essence of Time Management

“Until we can manage time, we can manage nothing else.”

Peter F. Drucker

How do you rate on time management? How many times have you said “there just aren’t enough hours in the day” well you are WRONG! there are 24 equally sized, nicely paced, hours in every day. Enough hours for some to build global corporations and others to run whole countries and even for mothers with Triplets to cope, so let’s face facts………………..you are just a poor time manager!

In reality I could explain the essence of time management as a piece of paper and a pencil (yes a task list) but it wouldn’t make for a very interesting article and I couldn’t introduce complex graphs and charts so……

The two main issues with time management are procrastination, (6 Key Causes of Procrastination – http://wp.me/p401Wv-a8 ) and spending too much time on the wrong things.

No matter how much we vow to change we’re still procrastinating when we know we can’t afford to, still getting caught in never-ending meetings, allowing ourselves to be interrupted, putting out fires and, in general, managing by crisis.

Most of us don’t have a time management problem — we have a problem prioritising. Remember the pencil and paper? Without it we get distracted and eventually lost in a cloud of problems, which hide the important things and, before we know it the day is over and nothing got done – again.

Here are some things to remember:

Our work life balance is and has to be a pendulum. Sometimes we need to give all the time we have to work and other times we need to give more time to our personal lives. Accepting this is the first step to control.

If we can’t control what’s going on around us (and most of the time we can’t), then we have to control how we respond.

A revelation to me was the day our CEO entered my office and asked why I had so much work on. I explained that work kept pouring in and he said “just because someone asks you to do something or even to do something by a set time, you don’t have to”. His advice was to assess importance, relevance and true urgency and if something didn’t fit, using great tact and good manners I was to explain why it was impossible for me to take the work on.

He introduced me to the late Stephen Covey’s Time Management Matrix which is a fabulous and simple time management tool and once you have used it I assure you it changes everything.

If you are interested you can download images of it and further explanations from Google.

Covey breaks his matrix into four quadrants: 1 to 4 and I have always called them the four “D’s”

              Time Management Matrix 2 - WCP 2014

  1. Important – and Urgent (Do now)

  2. Important – Not Urgent (Decide when to do it )

  3. Not Important – Urgent (Delegate)

  4. Not Important and Not Urgent (Dump)

The key is to start to prioritise everything by categorising each task as it arises:

Why the four “D’s” I hear you ask……….

 Do it Now: You MUST deal with these tasks immediately. They need to be put on the top of your to-do list. But YOU don’t have to be the one to deal with all of these. You can delegate them up, down or out as long as you’re confident that those to whom you delegate are capable of handling them.

Decide When How & Who: This is where you want most of your work to be. As a manager, you must be forward-looking to review, plan and build. If you want to stop managing by crisis, you must start moving more of these to the top of your to-do list.

Delegate:  Delegate as much as you can but again delegate them up, down or out as long as you’re confident that those to whom you delegate are capable of handling them.

Dump:  There are some things that just should not be done at work or handled by you. Its a tough call but one you must make.

If you are an open door person its probably a good idea to try a few weeks with the door closed whilst you are handling numbers 1 and 2. If you explain in advance everyone will understand and in a few weeks you should be able to leave the door open as the message will have got through to everyone by then

By, Neil Steggall

The Barking Mad Blog

SMS Advice with Bite

http://wp.me/p401Wv-eY

 

www.wardourcapital.com

Logo Small wcp 2014

Perception - WCP 2014

The Importance of Market Perception

Perception Marketing has become big business and until recently I had applied little thought to the question of Perception versus Reality. People apparently now build entire careers around Perception Management, they are not involved in Product Development and Product Improvement, their mission in life involves changing us! Changing our Consumer Perception!

My regular readers are familiar with my commitment to Peter Drucker as the essential marketing guru. His definition of marketing is: – “to take something useful and turn it into something desirable”. I believed I understood this, yet recently I have encountered some surprising and strangely lasting, examples of perception marketing driven desirability.

A couple of weeks ago I was having a product discussion with my son, the CEO of a US based FINTEC company, and I offered the opinion that the product (under discussion) was crap! He answered promptly, “I know that, you know that, but the market perception is different and the market perception is reality”.

At first I was disturbed by this, isn’t it wrong to sell a substandard product, even if the customer is satisfied?  Well let’s think again before we decide.

New Scientist magazine recently published an article describing how researchers at Harvard tested a new painkilling drug as well as placebos on migraine sufferers. The placebos, despite their lack of real painkilling ingredients, were remarkably effective. “The placebo… accounted for more than 50% of the drug effect,” the scientists found.

To most of us this is hardly news; drug trials routinely incorporate control groups who are given placebos to assist in identifying results that are outside the standard placebo effect. Other drug trials have shown that tiny placebo pills can have stronger effects than large ones because they are perceived as especially potent. Placebo colour can make a difference, too.

I had to ask myself are placebos “my crap” or “market reality”?

The lesson for marketers is that our experiences are shaped by our expectations

Do we have other examples of “placebo marketing”?

Until recently we had a substantial investment in the wine industry. Wine is the ideal product to illustrate how marketing perception affects consumer experience.

Most of us and even those within the industry don’t have the honed palate of a master of wine, and how we enjoy wine is heavily influenced by what we think we know about the wine.

Perception marketing experiments showed that the same wine thought by a taster to cost $45.00 rated better than when it was thought to cost $5.00. Not only was this a win for the perception marketers, it actually lit up a wider area within the pleasure centre of the taster’s brains. In other words the perception became reality, it really did taste better to them.

It’s an example of consumers really believing “You Get What You Pay For” – yet again Marketing Perception has trumped reality.

This brings me back to Peter Drucker’s quote. Desirability may not be a product of quality but of expectation.

By, Neil Steggall

The Barking Mad Blog

SMS Advice with Bite

http://wp.me/p401Wv-eC

 

www.wardourcapital.com

Logo Small wcp 2014

True Success - WCP 2014

SUCCESS!!! Can everyone succeed?

Have you ever gone along to one of those meetings where only as you arrive do you realise the objective is to recruit you into Multi-Level Marketing? ……I have.

At first analysis the system is fool proof. Follow the program, build your team, sell some product and you are going to be rich and successful!

It demonstrates the simplicity of applied logic and the leveraging of numbers; and yet…….less than 1 in 1,000 recruits are successful.

Basically the MLM system fails to deliver because it is a numbers game dependent upon you being the possessor of a hide thicker than an elephants. It requires exacting teamwork from a large number of disparate people each with a differing view of “their” business and differing needs and wants.

The logic fails the humanity test.

Click on any social media site or online magazine today and you are overwhelmed by articles and ads offering SUCCESS in 1,2,3 or 5 simple steps. Do these programs work?

I may well lose friends and totally fail to influence people here but I think most of this is poppycock and hype. Sheer unadulterated psychobabble perpetrated by the need to fill space and the never ending need of people to hear their own voice or see their name in print. And yes don’t rush off to check…..I have in the past written the 5 Key Steps to…..etc. I am now maturing!

All right…..send your email now signed “Disgruntled and Disgusted” of ……..(enter suburb).

Let’s step back a little and consider the early management advice of one of my key influencers and a true management guru, Peter Drucker. He really thought deeply about business and business success. One can gauge the very depth of his thinking by his brevity of words and his no nonsense common sense, I offer a few simple Drucker quotes below:-

  1. “The purpose of business is to create and keep a customer.”

  2.  “Business has only two functions — marketing and innovation.”

  3. “What’s measured improves”

  4. “Management is doing things right; leadership is doing the right things.”

  5. “Until we can manage time, we can manage nothing else.”

  6.  “Success comes to those who know themselves – their strengths, their values, and how they best perform.”

It was hard to choose these six almost primitively simple Drucker quotes as they were chosen from around 300 Drucker quotes collected on my computer. Each quote deserves contemplation and through contemplation will provide an essential element of management.

Each quote hints at and leads the mind to see the larger plan behind and excitingly that unfolding image will be as powerful, as functional and yet different to each one of us.

In my mind his thinking reduces management to its core componentry, there are no new Emperors Clothes on promise here.

So what is SUCCESS? Let’s look first at what it is not. It is not big cars, big spending, private jets, corporate jaunts and attractive sexy partners; they are life style choices.

SUCCESS is achieving your own goals or your own objectives. If you set out to complete task (a) today, when finished you have succeeded. In Drucker’s mind the 6 quotes above would when understood and implemented represent 6 huge successes which, as a whole would represent a far greater, lasting, collective success.

SUCCESS is not the destination it is the culmination of the hundreds, possibly thousands of small successes you achieve along the journey. As with any great structure designed and built intelligently and with care the end result is always stronger and more resilient than its constituent parts. This is SUCCESS.

Can everyone succeed? No. Business requires certain personality traits and a good deal of skill, vision, courage, determination, stress and complexity. This is more than some people want or can handle.

Certainly through start up almost every business is a very hot kitchen to be in! To not have the desire or the personality to run a business is not a failure it is a simple fact.

Where does this leave us? In my opinion with four critical attributes (yes I know!) you can probably succeed in business:-

  • A sound product or service

  • Confidence in yourself and your vision

  • A written business plan including objectives, marketing and basic financials which you measure the business against

  • Absolute guts, determination and a preparedness for hard work

Perhaps business success really comes down to that final dot point!

By: Neil Steggall

The Barking Mad Blog

Business Advice with Bite!

http://wp.me/p401Wv-bC

www.wardourcapital.com

Logo Small wcp 2014