Passionately play to your strengths – Don’t obsess on your weaknesses

Recession biteback 2

Grumpy old Will’s first recommendation in coping with the recession was to encourage imitation, not innovation. Suggestion number 2 is to play passionately to your strengths and broadly ignore your weaknesses.

Feedback

Regular feedback from colleagues, whether informal or in 360 appraisals, can be generally helpful in improving individual performance, but if the results are handled wrongly the process also carries serious dangers.

Reaction

Chief of these is the intuitive and tempting kneejerk reaction to listen to well-meaning advice - perhaps even instruction from your boss - to focus on improving your areas of weakness. But this course is not the way to bite back against recession.

Strengths and weaknesses

By the time we reach mature adulthood, whether through nature, nurture or environmental circumstance, most of us have developed a couple of real strengths or things that we are “very good at”. These distinctive competences are likely to have taken us to whatever is our current level of success; and yes, all of us also have weaknesses which we should certainly acknowledge.

Performance improvement

However, the generally pervasive focus on improving performance by dealing with weaknesses, while helpful to some degree in bringing you up to a level of homogeneous comparability with the struggling masses, never ever produces the marked differentiations and uniquely valuable capabilities that you can attain by enhancing your existing strong points.

Specialise

Don’t aspire to be goodish at everything. There are folks who are highly talented in the areas where you are weak. Leave them to it. Move on and lift yourself out of the pool of satisficing mediocrity by cultivating your distinctive performance strengths.

The way ahead

Aspire, achieve, deliver, study, learn, invest and specialise in your own strongest expert areas. Your boss and colleagues don’t know better this time. Bite back. Stand out from the crowd. Be better – at something! Be yourself and be different.

Recession bite-back - Imitation, not Innovation. Copy, copy, copy

Grumpy old Will is on a mission - the next few blogs are all about recession bite-back through positive action.

First, the gloom

Fall-out from the credit crunch has shaken the economies of formerly strong nations and severely curtailed the confidence and future-view of businesses and citizens around the world. In America and Europe, hundreds of thousands of failed companies and millions of unemployed people are at the sharp end of a universal feeling of gloom.

The reality

Taxes are rising ominously, public services are in line for severe cuts, credit remains tight and the optimism generated by pre-crash years of growth has almost completely evaporated. Individual incomes, living standards and company profits are being savaged. Here in Ireland the recent NAMA announcements demonstrate the truly shocking state of the economy and the years of struggle that lie ahead.

The threat to each one of us

In order to survive, our early ancestors dealt with severe physical threat either by flight or hiding. Fight was the last resort and in that savage environment was seldom successful. The cornered animal will fight back, even against all odds, but will only do so when the other options are unavailable.

Today we all face severe economic threat; as individuals it is here for us in the form of falling living standards; as business executives, managers or employees it is here in the insecure future of our organisations, large or small, public sector or private sector.

Where do we go from here?

The reality is that, in the face of the all-pervading threat, our options for flight or concealement are quite limited. And with the boundless opportunities available to us due to the current massive changes in consumer attitudes worldwide, to hide or run away are pretty spineless responses. So, bite-back and fight!

Now is the time to bite back. And bite back with cool, calculated, aggressive offensives.

Innovation myopia

My first focus subject for bite-back is imitation. Yes, imitation, not innovation. Innovation is rightly being heavily promoted by governments and economic development agencies in the West, but it is being encouraged by these well-meaning cheer-leaders in a form that will lead more to bankruptcies and disappointment than to value-creating activity. Oded Shenkar at Ohio State University says that "Imitation is more valuable than Innovation" and I wholeheartedly agree with him.

Clear-sighted imitation

We need a clear understanding of what innovation for tough times really means in the context of personal, corporate and organisational recovery.

The expensive idealised blue-sky R&D that hopefully produces the next big breakthrough, however worthy, takes far too long and is far too costly.

Much more effective is the thorough, disciplined search for imitative, productive, differentiating change, from the smallest adjustment right up to reinvented business models. In the context of scarce resources it is less rewarding to focus on cash-consuming product innovation breakthroughs than to invest effort in incremental imitative development.

Stigma

Innovation is seen as an honourable positive activity at a polar opposite to imitation, which is stigmatised as somehow unworthy, second-class and an approach taken by unoriginal thinkers. But innovation and imitation are not polar opposites - they are close cousins. Research shows that over 90% of the value generated by innovations is captured not by the innovators but by the despised and reviled copycats.

Scientific research on imitation

Early science regarded imitation as a low-level activity generally associated with child-like or animalistic characteristics. Later experimentation discovered it to be a complex, demanding process requiring a high level of intelligence; in the 1960's Ted Levitt of the Harvard Business School was an advocate of imitation's strategic use as a business discipline on a par with its close relative, innovation.

Mindset

The mindset that largely ignored Levitt's sage advice fifty years ago still exists today. And this applies to individuals as well as organisations. I know of "Directors of innovation" but I have never heard of a "Director of imitation". I have attended many seminars on innovation but I have never encountered a conference on imitation.

Have a rethink; stop trying to innovate your way to improvement and enrichment. Imitate. Bin your innovation strategy and spend your time and money on an imitation strategy.

Copy, copy, copy

Look for existing activities and approaches that work. Tweak and copy. Look at other situations and industries and take what works there for your own use. Copy, copy, copy. Yes, it was wrong at school and you were punished if you did it. But imitation is not stealing. Get down from that ill-informed high faux-moral stance and get real about biting back.

Of course do not infringe patents or steal intellectual property, but that is not much of a restriction as most products, processes, practices and ideas are not protected in any way.

Copy, copy, copy won't win you any awards, but you will bite back at the recession with a strategic response that gives you and your business a much better chance of future success.

War of Attrition meets War of Aggression

War of Attrition

Michael O'Leary's great Cheltenham performer is set to star on the big stage again at this year's festival. While facing stiff competition and the weakness of advancing age, War of Attrition has delivered in the past and has little left to prove.

As they return from meeting with President Obama on St Patrick's Day, the name of this superb horse is a reminder to the First Ministers in Northern Ireland of the short-term and longer-term pressures they will face in reviving our structurally untenable, long-neglected and currently weakening economy.

Devolution

To the relief of most citizens, the Hillsborough agreement is fully in place and "normal" politics can begin to operate in this region for the benefit of all its people.

That is, the politicians - all of them - must now take responsibility and address the true economic realities facing Northern Ireland.

The War of Attrition against the economic wellbeing of the population arguably started with the havoc of the Troubles. While structural effects have since been repaired and the reputational damage is fading, the legacy is an unbalanced, dependent, essentially insolvent economy with a relatively weak private sector.

Denial

Up to now, despite repeated warnings by economists and commentators, politicians and people have either occupied themselves by focusing on partisan political posturing or thanks to the credit, property and retail boom, underpinned by seemingly reckless government generosity, deluded themselves that life would continue to be financially OK.

But while these delusional diversions should be all over now, denial is still widespread and evident throughout our society. The war of attrition still threatens.

War of Aggression

There is an urgent need to create a completely new paradigm for action to meet this war of attrition facing our economy. Our current approaches, including the Barnett report even if it were fully implemented, only scratch the surface.

The war is real and demands a War of Aggression in response. The First Ministers must give a lead.

Betting

100/1 against the First Ministers and Executive leading the creation of a new War of Aggression initiative.

200/1 against an initiative reaching a conclusion within 2010.

300/1 against a material initiative being implemented by 2012

400/1 against "War of Aggression" ever happening

Sadly, on past form War of Attrition looks like the bet!

Frosty - and I'm not talking about the weather!

Green shoots?

While we are emerging from the grip of the coldest winter conditions seen in many years, our optimism is rising with the appearance of the first signs of Spring.

Now - that could be a cheery analogy for the economic conditions facing Ireland, Britain and Europe. Signs of "green shoots" so loved by politicians, actually becoming a reality for hard-pressed businesses, families and individuals.

Winter in July

But warning signals; against that hopeful if cautiously positive outcome, we are beginning to hear an increasing number of references to the dreaded potential for a "double-dip" recession curve. In other words, things could get very much worse for all of us.

With the nervousness raised by impending British elections, currency fluctuations, market volatility and skittish global sentiment, the "double-dip" is a real possibility; though my ever-optimistic (and sometimes naively irrational) take on life leads me to think it will be narrowly avoided.

Frosty

Whatever the outcome, green shoots and Spring sunshine or double-dip and winter in July, I'm firmly of the opinion that, for the forseeable future, individual and business interests will be best served by our adoption of what I call a frosty - very frosty - approach.

"Frosty" has three dimensions, whether in work or home life - costs, cash and effort.

And despite the stark discipline required for the effective control of these dimensions, a paradox within the frosty attitude is that at the same time as cracking down, we must maintain a positive get-up-and-go upbeat aggression towards improving our personal and business situations.

The Crack Up

As F Scott Fitzgerald put it "The test of a first rate intelligence is the ability to hold two opposed ideas in mind at the same time and still retain the ability to function"

Frosty costs

If you run a business or part of a business, now is the time to have a ruthless rethink of your costs. Yes, you can negotiate harder with your suppliers without affecting your customer service. Yes, you can work with reduced resources and still deliver competitive quality to customers. Be frosty!

In your personal sphere; do not change your car, eat out less often and cheaper, book a less expensive holiday. Be frosty!

Frosty cash

Gurus tell us to crown the customer, because "the customer is King" and I suppose they can make an argument for this rather dubious concept. In the present climate of tight money there is little doubt that for most businesses and individuals cash is not only King, but Emperor, Kaiser and Tsar as well.

Conserve your cash even more parsimoniously than you think you should. Don't spend unless you have to. Be frosty!

Collect money owed to you with more energy than you ever have before. Make those calls. Be frosty!

Don't pay out money more quickly than you have to. Fight for extended credit and payment terms. Be frosty!

Frosty effort

This is one competitive advantage that is open to all. The blunt fact is that if you and your people work harder and longer than your competitors, all else being equal, you will beat them hands down.

Talk to your colleagues, talk to yourself and decide together to work harder. Be frosty!

Popularity

A frosty attitude won't win you any short-term popularity contests either at work or at home, but in the longer term your frosty actions will benefit your colleagues and family no matter whether we see green shoots in Spring or winter in July.

Trust, team performance and termination

"Chelsea torn to shreds"

There are varying opinions on the issue of the breakdown in trust between former friends John Terry and Wayne Bridge. At last weekend's Chelsea v Manchester City game, Bridge came, shook the hand of every Chelsea player but refused the hand of his one-time best friend Terry. That was one show of defiance, the next was for City to achieve an unexpected victory with Chelsea reduced to nine men and Terry in a futile dispute with the referee. As one commentator put it "Chelsea torn to shreds at home"

Team leadership

While the closest most of us will get to the lifestyle of today's multi-millionaire footballers is reading the sports pages, there is a core lesson here for everyone who leads a team; whether in sports, business, or any organisational context that requires groups of talented inter-dependent people to deliver results.

Leadership and trust

The lesson is that, as an effective leader, while managing the inevitable regular conflicts that emerge in the running of any ambitious enterprise, it is one of your key responsibilities to constantly look out for any signs of erosion of trust between members of your top team.

Leadership action

When you see the signs, it is your job to intervene - even if the threat to trust is due to factors external to the business - and confront the parties. Help them to look for resolution. If none is forthcoming then you have to make a hard choice and one or both of them has to go. Too often in organisations, far too often, erosion of trust between senior executives is ignored and neglected by weak leadership.

John Terry lost the captaincy of England; Wayne Bridge lost the opportunity to participate in the World Cup; but the deep tragedy is that both of them lost a "best friendship" when trust was gone. Time to move on.

Your job

Everybody on your team will not be best friends but for the organisation to perform and compete effectively a high level of trust between all parties is vital. It is your job as leader to ensure that such trust is present; there is no doubt that true friendship can be its underpinning.

WB Yeats

"When friends plan and do together, their minds become as one mind and the last secret disappears"

Your core aim as leader is that "their minds become as one mind".