The 6 steps for Business Problem Solving What is the Problem? What Alternatives exist? What Criteria are important? Analyse alternatives against criteria Choose the Best Option. Define the Execution Plan. These steps come from the IESE MBA Course Analysis of Business Problems (ABP). Wikipedia has a great section on Structured Decision Making models.
Freedom is dangerous without self discipline. Few people will get anything important done in life without a boss, a parent, a teacher. It is the removal of freedom that allows creation. Completion requires constraints: deadlines, scope, format… We chaff at the chains, but they serve us. My boss is an idiot, but without her insistance … Read more
Here is a summary of everything you need to know about business: Revenues minus Costs equals Profits. If an initiative does not affect revenues or costs then it is not a business initiative. If costs remain higher than revenues for an extended period, you have what is known as a Charity. If you don’t understand … Read more
I read an interview with Kathy Button Bell in the NY Times yesterday. She is Chief Marketing Officer at Emerson. She talks about being coached by the U.S. Olympic Lacrosse coach during her time at Princeton: Kind and Tough, How a Boss should be“She just knew how to inspire you to do more. The thing … Read more
I come more and more to the conclusion that excellent performance is not about complex innovations, but about small habits. Excellent performance is about small habits I am reading Leading with Emotional Intelligence by Redlan Nadler. He quotes from book The Extraordinary Leader by Zenger and Folkman. They found that doing 5 specific things really well … Read more
Fear of Failure Clinging to one’s comfort zone Arrogance Defensiveness Impatience Rigid mindset Lack of perspective From Pablo Cardona and Helen Wilkinson’s book “Growing as a Leader“. Have a great weekend.
Alex Osterwalder has a highly visual and engaging way to think about business models. The presentation below explains his simple and pragmatic way to map, analyze, design and question your business model. The 9 elements of a Business Model Customer Segments Customer Relationships Value Propositions Channels Revenue Streams Key Resources Key Activities Key Partners Cost Structure … Read more
Greg Digneo of Cloud Marketing Lab wrote a beautifully simple explanation over at Triiibes of how to test an idea before you spend any money building. Even “small” ideas like hosting a webinar or writing a short/free ebook to give away on your blog can be tested even before putting time into creating it. 4 Steps … Read more
Jeffrey Pfeffer says that there are 4 ways that good ideas get shot down: Confusion – “yes, but how does that address US foreign policy and the social responsibility charter and the challenges of globalisation… and the new tax situation?” Fear mongering – “uff… this will be like X back in 2008 when it all … Read more
There was a wonderful letter to the editor in this week’s Economist magazine that used a powerful metaphor of an orchestra to highlight the untenable future of state social spending as currently provided. The letter was in response to Taming Leviathon – a special report on the future of the state. “Sir, you twice mentioned … Read more