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Lacking strategic thinkers on your team?

Why finding strategic thinkers is essential to business growth

Imagine this. You’ve been working in your industry for at least ten years. You know your customers inside out and there’s a problem that your company isn’t solving. Spotting the opportunity, you leave and set up your own business. Your industry knowledge helps you to mine a rich economic seam.

This is the story of most of the entrepreneurs we work with. They’re not Silicon Valley stereotypes – people in their twenties working out of a garage.  Instead, they’re in their mid-forties and find the early, start-up years heady and exciting.

But crucially, those early years don’t involve a huge amount of strategic thinking. The first service or product is obvious to them and the challenge is more around execution. Then something changes. Perhaps there’s a shift in the market or a need for a different offering. That’s when a lack of ideas is a real issue.

If you can relate to this, take action. To grow your business, you need a balanced mix of skills in your Executive Team. Otherwise, there’s a danger you’ll get stuck in a growth trap.


The Evolution of the Professional Services Sector with Ray D’Cruz

If you’re in the legal, accounting or professional services sector and you’re looking to harness the intelligence and creativity of your partners and employees through performance management, don’t miss Ray D’Cruz, CEO of Performance Leader, a consulting and software for professional services firms, on The Melting Pot. 

In this episode, Ray shares why firms should consider moving away from the annual performance review for partners and employees, to a more 360 review, incorporating client feedback and behavioural and project-based feedback.

He discusses why prioritising leadership is vital in remote or hybrid organisations, why purpose is more important than ever before, and how nudge tools can benefit everyone. 

So, if you’re wondering how to leverage performance and feedback software in your professional services firm, download and listen today.


How I Work

Have you ever wondered if the worlds’ leading entrepreneurs, writers, musicians and business people construct their day differently to you? How I Work delves into the working days of some of the world’s most successful innovators. We discuss tactics, rituals and tricks they use to achieve so much more than the average person, despite having the same number of hours in the day.


The Rise of the 15-Minute Meeting

In April, the work management platform Asana decided to conduct an internal experiment. Workers were asked to assess the value of the time they spent on meetings, and then to delete all recurring meetings with five or fewer participants. They sat with an empty calendar for 48 hours before adding back in all the meetings they saw as valuable.

Do We Still Need Teams?

Great teams can generate creative solutions to complex problems as well as rewarding experiences of camaraderie and challenge for employees. Unfortunately, even high-performing teams incur costs. Looking ahead to the post-pandemic future, the authors foresee the stressors managers have faced since the beginning of the crisis continuing to mount, which means it’s time to reassess when and how to use teams in organizations.

Principles for Dealing with the Changing World Order by Ray Dalio

The world is changing in big ways that haven’t happened before in our lifetimes but have many times in history, so I knew I needed to study past changes to understand what is happening now and help me to anticipate what is likely to happen.


Designed to scale by Lex Sisney

Have you ever wondered why some businesses scale while others fail? For every company that triples in size, thousands lose their momentum and get stuck. Every business leader aspires to achieve and sustain growth, but most come up short. Usually this happens because the early start-up structure is not designed to support their next-stage business strategy. It is not designed to scale. Designed to Scale explains the principles of scalable organizational structure: What are the structural traps that kill business growth? How do you successfully and quickly change your company’s trajectory? How do you design an agile and responsive organization that lasts? In this insightful and eye-opening book, author and business scaling expert Lex Sisney dispels the most common myths about organizational structure and shows you what really works—giving you a clear, actionable blueprint to grow your company exponentially and sustainably.


The Digital Transformer’s Dilemma by Karolin Frankenberger and Hannah Mayer

In The Digital Transformer’s Dilemma: How to Energize Your Core Business While Building Disruptive Products and Services, the authors show companies how to go digital while also advancing their core business. The book emphasizes how to strike a difficult balance between establishing a new (digital) business and re-vitalizing – and digitizing – the legacy business. Based on 100+ interviews with senior executives at leading companies (such as Nestlé, Novartis, Volkswagen, BNP Paribas, BASF and Michelin) and smaller hidden champions, numerous illuminating case studies, and the authors’ own experience from working in international management consulting and years of academic experience, the book highlights the fundamental principles required for executives and business people to transform legacy organizations into digitally empowered companies.


News from the farm

Scale Up workshop with Dominic Monkhouse

Get fresh perspectives and a set of proven tools to equip your business against any obstacles or disruptions the future might hold. Dominic will personally guide you through:

  • Defining the cultural foundations that underpin your business model. 
  • Identifying your unique value proposition and the core customer that will buy from you at maximum profit.
  • Implementing the best talent assessment tool to build a team of A-Players that will drive growth in your business.
  • Understanding and creating the best OKRs (Objectives and Key Results) to ensure accountability and measure success. 

If you’re serious about growth, join us on the 23rd of June for this highly interactive strategy session.

Save your seat now


MEANINGFUL ACTION FOR MONDAY

Don’t let short term gains get in the way of your long term goals when hiring

This week I was talking to a client that is looking to hire someone for a senior role in sales. My culture fit radar is more finely tuned to sales because I’ve been in organisations with more Toxic A’s in sales than in any other department. One of the things he said about the prospect was that the candidate has a great network, but that someone had told him he was a bit slimy. Getting signals like this around cultural fit is vital when looking to hire someone. In a world of hyper-connectedness, it’s rare to meet somebody that isn’t already connected to someone I already know. I often send people a note to ask, ‘If you were me, would you hire this person? Yes, or no?’ Those who say no have saved me from a cultural mishire.


Upcoming events

CEO Bootcamp with Verne Harnish and Dominic Monkhouse – 12th -15th September

This September, join Verne Harnish and Dominic Monkhouse for a reinvigorating 4-day boot camp in the UK. You will work closely with Verne and Dominic to find the answers to those questions and uncover those opportunities you’re overlooking, which will truly help you move the needle in your business.

Join Verne and Dominic at Lucknam Park Hotel & Spa, near Bath (UK).


Quote of the week

“Without a compass bearing, a ship would neither find its port nor be able to estimate the time required to get there.”

Peter Drucker

Dominic Monkhouse

Dominic offers business coaching and management development, strategy planning and organisational change, using tried and tested methods to launch your organisation onto an unparalleled growth trajectory. His programme is a function of his broad experience, his deep expertise and a proven process used by over 2,700 firms worldwide.

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    Discovery Call | Business Growth Strategy Session

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