December 2013 Newsletter

Chris Farrance

Chris Farrance

01 December 2013

Are you ‘Super Trooper’ or ‘Boiling Frog’?

I thought I’d just share with you here the ‘top notes’ from a session I recently ran at my favorite networking group the Business Forum – http://thebusinessforum.biz

The World is Changing

We’re now in what many view as the Third Revolution – the Digital Revolution (after the Agricultural and Industrial Revolutions). These Revolutions cause seismic shocks to the world as we know it. Some are welcomed, some are not but the impact is here to stay.

Conventional Businesses are Failing

Major sectors and the high streets are awash with failed businesses. In some cases this may have been down to less spending by consumers. But, many suffered from an unsustainable business model that became increasingly exposed in the Digital Economy – think music, books, travel. Increasingly the thinking is ‘Why do we need to own  stuff? Take a look, for example, at Zipcar – http://www.zipcar.co.uk.

We spent some time discussing the Apple phenomena – that mix of fashion, design, desirability, IP, fabulous margins and the iconic leadership of Steve Jobs. How replicable is that for mere mortals?

Social Media is Here to Stay

It’s not a Marmite test – you can’t afford to like it or hate it – you’ve got to get on board. The old ‘push’ model has been superceded by buyers who will use a wide range of reference points on their buying journey – see ZMOT https://www.google.com/think/collections/zero-moment-truth.html . In fact, as the seller, you may well be the last person your customers speak to!

Digital Natives have Different Perspectives

Digital Natives have fuelled the phenomena of ‘Bring Your Own Device’ (BYOD) – in my days it used to be ‘Bring Your Own Bottle’ (BYOB). Research suggests on average they have at least three mobile devices. We’re now in a networked, self selecting community based world. We need these people fully engaged in our businesses to compete both nationally and globally.

New Game, New Rules

In summary, success will come from a mindset change – moving from being ‘Closed, Controlling & Selective’ to ‘Open, Random & Responsive’. The days of decision making by invoking the ‘Highest Paid Person’s Opinion’ – the HIPPO approach – are numbered. Whilst I don’t advocate the total superiority of science (left brain/data) over art (right brain/creativity), there’s certainly room for more evidence-based decision making.

So, the choice is yours – get on the bus and be a ‘Super Trooper’ or stay where you are and be a ‘Boiling Frog’.

Introducing my Frontier Partners – Rowan Andrews

Rowan Andrews is an independent business coach and strategy consultant operating in the media sector.  His clients come through personal referrals from existing clients who value his work highly.  It’s an enviable business model.

Much of Rowan’s work at the moment, he tells me, is focused on helping businesses implement more efficient digital solutions and changing the behaviours of people in his clients’ businesses to adopt them.  In the media sector, more mature businesses have often built operating models that rely on ‘old school’ processes and technologies and need to shift their structure to mirror new entrants.

As he puts it –  ‘Like those who made money in the Gold Rush, it’s about selling the picks and shovels of the digital revolution!’.

Introducing GrowthAccelerator

GrowthAccelerator is a locally-delivered Government backed scheme designed for High Growth companies to help you:

  1. build a successful growth strategy;
  2. discover new routes to funding and investment;
  3. unlock your capacity for innovation;
  4. harness the power of your people; and
  5. unite and excite your leadership team.

The network of specialists – of which I’m one! – draws on growth experts from the private sector and leaders of high-growth, small and medium businesses. There is a one-off fixed fee depending on the size of your business.This fee is for the guidance and support you receive, the masterclasses and workshops you attend and access to a match funding offer for leadership and management training.

If you’d like to know more, then please get contact me.