Many extraordinary companies have had two primary positions of leadership. One being the visionary and the second is the executor. Understanding the difference between the visionary (aka the pie in the sky idea person) and the executor (the dig-in implementer) can make or break your business. Mark Winters’ book, Rocket Fuel, suggests most companies should only use the C-XX titles externally and should embrace a more descriptive title for each person’s internal functions. If all the members of a business are on the same page and have the same objective, the organization is able to flourish financially while maintaining mutual respect for those within its ranks.
[1:13] The big idea behind the Rocket Fuel book
[4:04] The combination of the visionary and the integrator
[5:41] Putting a leadership team in place is the first threshold
[7:12] A visionary is an idea engine and the personality of the organization
[8:04] An integrator is the executor and the management
[10:24] The case of the missing integrator function
[12:38] Dysfunctional symptoms can be created by the visionary's lack of clarity
[14:25] It is essential to have intensity, but people can react adversely to it
[16:07] The integrator functions as the glue that unites the people, processes and systems
[18:46] The 5 rules:
[23:16] The 5 tools:
[26:29] Do problems arise by having just one integrator?
[27:47] The dynamic duos
[29:03] Strip the leadership team of the titles when used internally
[30:08] Contact Mark
Is your business taking on any clients who give you money when what it requires is a profitable endeavor? Try using your lack of resources to encourage innovation and creative change within your organization. Mike Michalowicz, the author of three business strategy books, used the advice of his mentor to learn the process of growing colossal pumpkins. After a year of taking it all in, he implemented the 5 core elements of the pumpkin growers into his business. It resulted in success, and he now helps people express their authentic selves through their business.
[01:17] A lack of resources will force innovation
[03:00] Survival mode doesn’t foster your long-term business growth
[04:51] Express your values through business; it should be your soulmate
[09:01] Persistence is the basis of success
[11:33] Mike’s life purpose is to guide people in expressing their authentic self via their businesses
[12:58] How colossal pumpkin farming can lead to colossal business growth
[14:11] Five core elements of colossal pumpkin farming or growing your business
[21:40] Mike found 3 primary ways businesses use to convey information and engage in activity
[22:41] A hack to systemize your work: simply record each thing you do
[24:34] Sort your clients by revenue; determine their profitability and what their cringe factor is
[27:04] The concept of loss aversion: people are more motivated to retain than to gain
[29:27] You grow by saying no
[31:04] The Profit First Book – Take your profit first
[35:03] Google “Mike Mic” to get to Mike’s website
Entrepreneurial startups often find themselves maturing before they’ve had time to analyze their growth. The business structure builds itself based upon its initial framework which may no longer be applicable to the company’s present challenges.
Mike Paton, the co-author of Get A Grip, details the key components of the EOS model and describes the tools used to strengthen a business to ensure long term success. He details the steps involved in identifying a company’s vision and how to execute it.
[1:24] What are the 6 key components to an entrepreneur's business?
[4:31] The Vision Component is ensuring the entire organization is working towards the same goal
[7:26] Identifying the goal starts with uncovering the 8 core values of the organization
5.) A 3-Year strategic plan, which is tied to the fiscal year
6.) 1-year plan - Predictions & goals for the upcoming year
7.) Quarterly rocks - Assigning ownership to company “rocks”
8.) Company’s issue’s - The 50 other things you want to tackle
[29:53] The People Component is having the right people & right seats
[31:08] The accountability chart enlightens leaders to consider structure over familiarity
[36:16] Executing your vision can bring about implementation issues
[41:14] Access to the tools we discussed in this episode
Many businesses grow stale when a large number of employees decide to quit engaging in the organization, but stay at their current positions. If your leaders are not challenging existing employees with something new or fringe every three to six months their creativity level drops or becomes non-existent. Blending the knowledge of the current workforce and new talent (rookies) serves to expedite the creative process and enlivens the creative environment as a whole. Effective leaders in your organization will produce a fluid habitat, one which multiplies the abilities of each person on the team.
[1:51] Is knowledge the currency of this internet equipped world?
[5:19] We need to let go of things which are no longer true
[9:15] Modern leaders need to be able to lead when appropriate and follow when appropriate
[11:55] Exploring the book Rookie Smarts
[15:00] What are the downsides to experience?
[16:26] Intuition is our brain combining multiple historical data points and forming a conclusion
[21:35] Assumptions can limit your ability to learn something new
[24:18] Using improv to build on an idea at work
[25:51] Leaders, use your rookie talent
[27:34] How to keep your entire team in the rookie zone
[34:12] New managers are little disasters
[40:42] The logic behind the “Multiplier” leader
[44:24] The mindset of the “Multiplier” leader
[48:00] The 6 different leadership styles - Harvard Business Review
[48:57] Are you able to get more than 100% of your abilities?
[52:02] Contacting Liz and finding her books