why you should be working on the business, now
DESCRIPTION
Today, the economic forecast is like our weather forecasts. You never know what’s coming at you tomorrow, let alone what the climate is going to be like a few years from now. This is one of the reasons that it is more important than ever to be working on your business, not just in it. If you think you can sit out the storm, chugging along like everything’s the same, hopeful that things will go your way, good luck to you. For the rest of us, we’re going to create the conditions for success by working ON the business to give us that fighting chance.TRANSCRIPT
COPYRIGHT 2012 © IQUEST INC.
N THE
BUSINESS
O
WwHhYy YyOoUu SsHhOoUuLlDd
BbEe WwOoRrKkIiNnGg
OoNn TtHhEe BbUuSsIiNnEeSsSs, NnOoWw.
And what you’ll do
when you’re working
ON the business
COPYRIGHT 2012 © IQUEST INC.
H H H
H H
L L L
L
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
$ $ $
$ $
$
Economic forecasts are as unpredictable as the weather
Lot’s of uncertainty
COPYRIGHT 2012 © IQUEST INC.
What you think a
bout can
profoundly
impact your
business toda
y, and in the f
uture.
What will be our
future competitive
advantage?
What business
models can
change our
fortunes?
How are we enabling employees to dream?
Who are our
next great
leaders?
COPYRIGHT 2012 © IQUEST INC.
36 hours
48 hours
68 hours
Employee CEO
CEO’s of the most
successful companies
We spend lots of time working…
COPYRIGHT 2012 © IQUEST INC.
COPYRIGHT 2012 © IQUEST INC.
TODAY TOMORROW
But where do you put most of your energy?
COPYRIGHT 2012 © IQUEST INC.
WwOoRrKkIiNnGg OoNn TtHhEe BbUuSsIiNnEeSsSs
WwOoRrKkIiNnGg IiNn TtHhEe BbUuSsIiNnEeSsSs
COPYRIGHT 2012 © IQUEST INC.
on
in Most CEO’s spend less than 3% of
their time thinking about the future (and many spend less than 1%)
COPYRIGHT 2012 © IQUEST INC.
What’s the
determinant factor
when it comes to the
success of your business?
COPYRIGHT 2012 © IQUEST INC.
LlEeAaDdEeRrSsHhIiPp
COPYRIGHT 2012 © IQUEST INC.
What are the 4 jobs
every leader has to do?
COPYRIGHT 2012 © IQUEST INC.
LlEeAaDdEeRrSsHhIiPp
Inspire
COPYRIGHT 2012 © IQUEST INC.
LlEeAaDdEeRrSsHhIiPp
Inspire Guide
COPYRIGHT 2012 © IQUEST INC.
LlEeAaDdEeRrSsHhIiPp
Inspire Guide
Strengthen
COPYRIGHT 2012 © IQUEST INC.
LlEeAaDdEeRrSsHhIiPp
Inspire Guide
Strengthen Enable
COPYRIGHT 2012 © IQUEST INC.
Lead
ers
‘r B
uild
ers
COPYRIGHT 2012 © IQUEST INC.
COPYRIGHT 2012 © IQUEST INC.
Chief
Bottle
Cook
Washer
&
Always be the Chief Cook…
Leaders are
not the Chief Cook and
Bottle Washer even when you’re washing bottles
COPYRIGHT 2012 © IQUEST INC.
COPYRIGHT 2012 © IQUEST INC.
LlEeAaDdEeRrSs TtHhIiNnKk
AaBbOoUuTt WwHhAaTt’Ss NnEeXxTt
A question that can only can be answered when
working ON The Business!
COPYRIGHT 2012 © IQUEST INC.
How much time should anyone at your company work ON The
Business?
COPYRIGHT 2012 © IQUEST INC.
3M’s 15% Rule… 15% of your time is your time…
to explore, imagine, think and
dream about what’s next.
COPYRIGHT 2012 © IQUEST INC.
Doesn’t look like much, just sitting there, stuck on the wall.
COPYRIGHT 2012 © IQUEST INC.
, , 2 7 , 7$
Sticky notes and many other innovations
dreamed up by people working ON the
business have helped deliver billions in revenue.
Not bad for a company that only spends 85%
of their time actually working IN the business.
COPYRIGHT 2012 © IQUEST INC.
in on
What’s urgent
What’s important
COPYRIGHT 2012 © IQUEST INC.
Lou Gerstner took over IBM during the company’s darkest days. Instead of getting stuck permanently IN the business, he balanced his time by also working diligently ON the business, keeping, in his words…
…“what we stand for” but changing “how we do things”. His successor, Sam Palmisano adopted the same approach, saying “it is about creating and nurturing a culture of long-term thinking”.
COPYRIGHT 2012 © IQUEST INC.
200
150
100
50
1993 2002 2011
in on +
Lou Sam
Share Price
COPYRIGHT 2012 © IQUEST INC.
N THE
BUSINESS
O
What’s it
all mean?
COPYRIGHT 2012 © IQUEST INC.
COPYRIGHT 2012 © IQUEST INC.
IiNnSsPpIiRrEe
Build context, culture, confidence and coalition
ON THE BUSINESS
COPYRIGHT 2012 © IQUEST INC.
Purpose Core Values Collaborative Culture Noble Cause
COPYRIGHT 2012 © IQUEST INC.
GgUuIiDdEe
Build vision, clarity, focus and direction
ON THE BUSINESS
COPYRIGHT 2012 © IQUEST INC.
Business Plan Projections + Capital Long Term Strategy Performance Big Decisions
COPYRIGHT 2012 © IQUEST INC.
SsTtRrEeNnGgTtHhEeNn
Build knowledge, capabilities, assets and options
ON THE BUSINESS
COPYRIGHT 2012 © IQUEST INC.
Minimize Risks Resources & Relationships
Insight Gathering Experiment Brand Value
Strategic Alliances Succession & Exit
COPYRIGHT 2012 © IQUEST INC.
EeNnAaBbLlEe
Build structure, process, authority and leadership
ON THE BUSINESS
COPYRIGHT 2012 © IQUEST INC.
Monitor Quality + Output Situational Analyses
COPYRIGHT 2012 © IQUEST INC.
IiNn… …OoNn
How do you create the conditions to work on both?
COPYRIGHT 2012 © IQUEST INC.
ON Working
the business
Come back at 3
COPYRIGHT 2012 © IQUEST INC.
COPYRIGHT 2012 © IQUEST INC.
GgEeTt OoUuTt!!!
Experience things that your customers, suppliers
and employees experience!
COPYRIGHT 2012 © IQUEST INC.
1. Apple 2. Twitter 3. Facebook 4. Nissan 5. Groupon 6. Google 7. Dawning Information
Industry 8. Netflix 9. Zynga 10. Epocrates 11. Trader Joe’s 12. Arm 13. Burberry 14. Kosaka Smelting and
Refining 15. Foursquare 16. ESPN 17. Turner Sports
18. Huawei 19. Intel 20. Syncardia 21. Donorchoose.org 22. Ebay 23. Nike 24. Linkedin 25. Wieden +
Kennedy 26. Yandex 27. Amazon 28. Opening
Ceremony 29. IBM 30. Amyris 31. Double Negative 32. Kaspersky Lab 33. Pepsico
34. Univision 35. Snohetta 36. Marks & Spencer 37. Microsoft 38. Solarcity 39. Shaadi.com 40. Voxiva 41. Cisco 42. Enerkem 43. Samsung 44. Pandora 45. GE 46. Changchun Dacheng
Industrial Group 47. Azul 48. Stamen Design 49. FX 50. Madecasse
VvIiSsIiTt IiNnNnOoVvAaTtIiVvEe CcOoMmPpAaNnIiEeSs
COPYRIGHT 2012 © IQUEST INC.
Talk to experts. Even the weird ones!
COPYRIGHT 2012 © IQUEST INC.
COPYRIGHT 2012 © IQUEST INC.
Books Articles Websites Blogs Videos
COPYRIGHT 2012 © IQUEST INC.
COPYRIGHT 2012 © IQUEST INC.
Mentor! Get one. Be one.
COPYRIGHT 2012 © IQUEST INC.
COPYRIGHT 2012 © IQUEST INC.
N O
COPYRIGHT 2012 © IQUEST INC.
O N I Work IN the business to create the
conditions that will allow you time,
energy and emotional freedom to
work ON The Business
COPYRIGHT 2012 © IQUEST INC.
BbEe DdIiSsCcIiPpLlIiNnEeDd
IN ON
COPYRIGHT 2012 © IQUEST INC.
IN is what you need to prepare for it
ON is your future
COPYRIGHT 2012 © IQUEST INC.
GgEeTt OoNn YyOoUuRr BbUuSsIiNnEeSsSs
Website + Blog: iQuestinc.com Twitter: @MorryPatoka @Andrewatiquest LinkedIn: Morry Patoka Andrew Guido
N THE
BUSINESS
O