Good To Great

I have just read the Jim Collins big seller – Good To Great. A few people in marketing , Norwich business people and MBA colleagues, have mentioned the book to me.

I was surprised when I finished reading the book that there is actually quite a lot of criticism about the book. It is true that some of the conclusions such as the benefits of level five leadership are not spelt out in great detail. What exactly is a level 5 leader? Then there is the fact that many of the companies cited as “Great”…….. are no longer even “good” or even in existence in some cases!

But I actually really really rate the book. It is easy to read and easy to understand, and personally I intuitively understood even the conclusions with less clarity such as the Level 5 Leader. The most compelling outtake from the book to me, is the importance of getting the right people to buy into your vision. Jim Collins uses the analogy of a bus…… get the right people on the bus, then let them work out where they should sit, then you can work out where you can go! It may sound strange, or perhaps obvious, but that conclusion helped me to crystallise my thoughts on a number of projects I have worked on in the past and am currently engaged in.

Below I have summarised the books conclusions:-

- Level 5 Leadership: Leaders who are humble, but driven to do what’s best for the company.

- First Who, Then What: Get the right people on the bus, then figure out where to go. Finding the right people and trying them out in different positions.

- Confront the Brutal Facts: Confront the brutal truth of the situation, yet at the same time, never give up hope.

- Hedgehog Concept: Three overlapping circles: What makes you money? What could you be best in the world at? and What lights your fire?

- Culture of Discipline: Being able to stay entirely focused in a changing, challenging environment

- Technology Accelerators: Using technology to accelerate growth, within the three circles of the hedgehog concept.

- The Flywheel: The additive effect of many small initiatives; they act on each other like compound interest.

As a marketing consultant in Norwich I get involved in some of these areas more than others, but I do think they are a robust set of principles to at least influence business management.

Predictably Irrational

I have just finished reading Predicatably Irrational – The Hidden Forces that Shape Our Decisions. I enjoyed the book although personally I think in places it is rather predictable and that some of the findings seem fairly rational to me!

The format of the book also can become a little repetitive. Every chapter is basically, I thought this or questioned that, so I did an experiment with some MBA students, and here is the result that you were not expecting (or sometimes expecting in my case!).

The areas I found most interesting were around people’s perception of price and how this can be dramatically altered by creating a different environment or a different set of benchmarks for what the price should be. The exploration of why things hold more value once we own them, and why price is different to cost were also interesting. Less interesting were some of the chapters around human behaviour, which to me were fairly obvious conclusions – we are animals and therefore sometimes we don’t behave to a mathematical pattern which is entirely predictable. The observations about honest and human behaviour are also interesting but again in my view perhaps not so radical. More interesting was the research around our decision making and how peer groups can affect that. Overall some useful stuff, (from the perspective of a Norwich marketing consultant) particularly when considering how to stimulate sales or build a new proposition for potential customers, but not as exciting as Freakonomics!

So, you open your fridge and someone has left some Coke and some cash.  If you are thirsty maybe you will take the Coke, but if you need some cash, you still don’t pinch what’s in the fridge.  Predicatably Irrational…… you tell me?!!

Freakonomics!

I have just finished reading Freakonomics. What a thought provoking and interesting read. When I first became interested in Marketing professionally I did dabble a little in economics and this book reminded me what a fascinating subject it really is. The writers describe economics as the study of incentives: how people get what they want, or need, especially when other people want or need the same thing. It asks the question, what is the precise incentive needed to trigger an exchange between two people? And the scary thing is that the incentive required may not always be what you think it is. By looking at a wide range of topics (including gun crime, sumo wrestlers, education, and the naming of children amongst other things) some unusual comparisons, and some clever contexts, the book demonstrates how deeply you have to look at things to truly understand the correct incentive to offer up to make something happen.

The book is fun in places, but difficult reading in others, perhaps because there is a side of human nature which is disappointing to us all. Easy to read and very thought provoking…. I recommend!

Build A Brand In 30 Days

I have just started reading Simon Middleton’s book – Build A Brand In 30 Days. I met Simon a few weeks ago when he gave a presentation to my Common Purpose team in Norwich. By coincidence I met him on the train the following morning, and again in the evening at his book launch in Waterstones. Simon is a great communicator and is able to really inject enthusiasm and passion into his discussions and presentations about branding. That ability to really capture the attention and imagination of an audience is such a great gift to have.

I have only read the first three chapters of the book, but I like the easy to read style and language, and the relevant examples that make it easy to translate his ideas into story’s people know and can relate to.

Personally I am not sure that you can build a brand in 30 days – even if they are spread over a longer time period. That is because I don’t think one person can build a brand. I think brands are built by consumers, consumers who pester customers to buy on their behalf – even if that is just another part of their own conscience, and customers who demand more from their brands. Perhaps more products, features and benefits, perhaps better packaging design, perhaps better language or tone of voice which suits them, or perhaps a simple demand that the brand pulls itself together! The greater the enthusiasm with which consumers and customer do this, the more powerful your brand is. I have been privileged enough to manage some great brands – but I never thought I owned them or built them. I did some stuff to keep them in good shape, to keep them engaging with their audiences, and to keep them relevant. Perhaps I did help in some small way to build them, but I was only a small part of an architectural team, the people who did the building were the guys how bought the products, who emailed me when my products weren’t quite good enough, who mentioned the irritations in something that wasn’t quite right, who said when they did or didn’t like our advertising, and who pointed out when a competitor was better than us.

I like Simon’s book and thoroughly recommend it, and I shall be writing more about it from a different perspective in a couple of weeks, but if you don’t own a brand (apart from you own – watch out, this is going to be Simon’s next book!) you can still help to build one. Choose the product you love – enthuse about it to your friends, find out more about it and how you can help it to grow…. what do you get in return? A small emotional stakeholding in something that as it grows and you see it appearing in more places you will be proud of!

Leaving Microsoft To Change The World!

Throughout my life in business I have always been aware of the question, could we do what we do with business, what we do to make money and deliver share holder value, to change the world for the better? Could we use the skills we have to instead of selling more widgets, get more food to people who need it, or instead of becoming more efficient, could we help communities that struggle to grapple with famine become sustainable? On a different level individuals often seem to struggle to balance the demands, stress and focus required from high profile jobs with the enjoyment and reward they want from of life. I think it is generally accepted now, that the one who earns the most if perhaps not always the one who is happiest. Alongside or perhaps because of this dilemma, there is also the new idea that is not realised because it means sacrificing too much, or taking too many risks, or is simply just too scary to contemplate seriously.

Leaving Microsoft To Change The World is the story of one man who left a high paid job, the stress and financial rewards that went with it, and perhaps to coin a phrase followed his heart instead of his head. The book is a great story of someone who had an idea, an inspiration and felt confident enough, or compelled enough to make it into a reality. John Wood came face to face with the lack of education in the third world during a well earned holiday and decided to do something about it. To most people that would perhaps involve giving a donation to a local charity – but that was just not big enough for John. He left his high paid job at Microsoft and began sending books to children in Nepal so that they could read, learn, and become inspired to realise their potential. The idea flourished and soon a few books became a library, then one library became a school, and then several schools, then hundreds, and then hundreds in several countries. John Wood had found his calling in life and by making a massive leap of faith, having the courage of conviction, had managed to help hundreds of thousands of children across the world with an education. In doing so he went from having a job and having a life that never seemed to compatible to simply having “found his place in the world” as he puts it.

The book is a great insight into many things. As a marketing consultant in Norwich and someone who is interested in some of the voluntary organisations marketing Norwich, I was most interested by John Wood’s drive and motivation, the way he used his business knowledge in a charitable organisation, how he was able to move from managing a big team of people to working for a start up organisation, the mistakes he made as well as the successes. He openly shares how he learnt on the move, how he improvised, made the most of all his skills, and reinvented himself. The book is inspiration, a motivation, and perhaps a challenge, as well as a good reference for anyone who is considering starting a not for profit organisation or start up business.

It is also a great read and one that I thoroughly enjoyed!

Introducing NLP Neuro-Linguistic Programming

Many people in business often seem to be asking what is the secret to success, or how can I become more likely to succeed. In recent years this seems to have created a new industry called business coaching. Largely unregulated there seems to be a massive variance in quality and approach of offering in this area. I have never been particularly interested in this subject area, and have been concerned when it appears to spill over into getting people to adapt or change their personality in order to fit into a particular culture or assume a particular personality or persona.

Set against this I do understand the need for positivity, the need for mental strength, and the importance of creativity in order to be successful in anything. I can also see how sometimes people limit their own possibilities and potential by looking at things through a particular frame, or by imposing restrictions or hurdles that perhaps aren’t really there. It is certainly true that if you ask ten people to consider the same circumstance or scenario, they will all see it differently, notice different opportunities, solutions and indeed challenges.

Following an interesting meeting (about marketing Norwich more effectively) last month I have become interested to learn a little about NLP (Neuro-Linguistic Programming). During a presentation and discussion amongst business people from Norwich I started to consider just how important ones perspective is in decision making. Introducing NLP Neuro-Linguistic Programming is a book by Joseph O’Connor and sets out many of the guiding principles in this topic. The book is easy to read and really helped me to reconsider and reappraise the way I sometimes set about tackling problems and building successful business solutions. Easy to read, particularly as an introduction to the topic.

I found the chapters on maps and filters, perception doors, anchoring, context, and strategy particularly interesting and may well investigate these particular topics in more detail – a very interesting read indeed!

The King Of Madison Avenue – David Ogilvy

Anybody who is interested or active in the marketing industry, particularly in promotion, will find this book a fascinating read. Kenneth Roman tells the story of how David Ogilvy took an English Agency to America and built a fresh thinking, innovative advertising agency from scratch on Madison Avenue.

The book is rich with insights, first into how David Ogilvy used research and customer insights to build compelling and innovative advertising. Many of Ogilvy’s big ideas are still around today! The book goes on to explore how he managed the agencies rapid growth, developed its corporate culture, changed the billing structure for an entire industry, and dealt with mergers and acquisitions as his once small business became a worldwide organisation.

The King Of Madison Avenue shows how an agency works from the inside. It demonstrates one approach to the central issue of nurturing creativity, and discusses the often difficult relationship between talented creative’s and a client’s requirement to sell more products.

David Ogilvy didn’t just do advertising, he pioneered consumer research within advertising, he was a strong promoter of direct marketing as a specific discipline, he encouraged account executives to use management accounting techniques to appraise campaigns, and he built the first “boutique” agency. He understood that he was selling brands, not products, before brands were called brands.

Kenneth Roman uses David Ogilvy’s career and the development of Ogilvy & Mather to discuss many of today’s hotly debated marketing topics, and highlights David Ogilvy’s approach to leadership, management, and a fast changing operating environment.

As a Norwich Marketing Consultant who has worked with agencies in Boston, Seattle, London, Leeds, Manchester, Sheffield, and Bristol across many specialisms on many different projects this was a fascinating read!