NEED TO GET BACK ON TRACK? | The Melting Pot Newsletter | #86
HOW TO GET YOUR BUSINESS BACK ON TRACK
It’s hard to remember a more disruptive period than the last six weeks. The global pandemic has caused mayhem that was unimaginable only a few months ago. We’ve gone from predictable to wholly unpredictable. Certain to deeply uncertain. Order to disorder. It feels like we’ve entered a new era.
Suddenly, most of my clients are questioning their strategy and re-thinking their priorities for this side of Christmas. Maybe you’re reading this with a similar frame of mind? And wondering how on earth you’re going to galvanise your company into full survival mode? Perhaps you’ve finished your cost minimisation work – your CFO’s been busy working through this during lockdown. Now you need a plan to get out of this crisis and forge a new path for your business.
This is about making sure you’re focused on where the opportunity is for you. Finding it and then executing it. Even if you’ve seen no reduction in activity, you’ll still need to focus on getting momentum going. In the not too distant future, your staff will return and need to get back their rhythm of working as a team. They’ll also need to be lined up with the right priorities and metrics.
So what do you need to do to get your business back on track?
RESHAPING FULFILMENT WITH ACTUAL HUMANS with MARTIN BYSH
In an otherwise bleak world, today’s guest is a success story who just keeps going from strength to strength.
Martin Bysh is CEO of Huboo Technologies Ltd, a fulfilment company that takes stock, stores it, picks, packs and delivers it on behalf of e-commerce sellers, automatically. But Martin hasn’t always been in this industry. In fact, this is his first company that has physical things like people and space. He’s always had companies with no people in them. This 180-degree business model is completely down to Paul Dodd, his business partner.
“[We figured] we’d do something together in e-commerce. We ran a few shops online to get a sense of where the pain points might be and immediately stumbled on fulfilment. It’s a massive problem for lots of e-commerce companies. And so we started to explore it and just gradually found ourselves in this business, which I love, but it is very much a people business. I think we’ve got about 70 staff now. Being all about people means it’s a lot of fun as a consequence.”
But scaling a business that consists of so many people with so many moving parts is a challenge. How do you scale small without breaking small?
“This isn’t about massive sheds and treating people like robots. This is about building a distribution system for e-commerce businesses, based on human beings. How do we take the best of human beings and build a business on that, which drives high margin rather than treating people like robots to drive margin into the business.”
This is a fascinating conversation, we hope you enjoy it as much as we did.
You don’t have to be born a Genius to become one. Follow health and science journalist, New York Times bestselling author, TV personality and nutrition expert Max Lugavere as he speaks to the most insightful minds of our time about what it means to live like a Genius.
You join a video conference call. You’re one of nine faces on the screen. About 10 minutes into the call, your mind starts to wander and you realize you have no idea what the last person just said. You pretend to keep listening while also checking your inbox. By the end of the meeting, you’ve caught up on some email but ultimately feel like it was another waste of time. For many of us right now, this scenario sounds all too familiar.
The recruitment and talent management fields have changed dramatically over the past few decades. According to a 2018 report from the Bureau of Labor Statistics, millennial workers are a more mobile workforce—jumping from employer to employer—than baby boomers, who stay at their jobs three times as long on average.
How is your organization going to survive and thrive in the emerging economy? That’s the question on everyone’s mind right now. Later when we look back, it will seem so clear. Our grandchildren will shake their heads and say: “If I was alive back then, I totally would have….” And then the smug little darlings fill in the blank with whatever proves to be so very obvious in hindsight. Whatever that is, it’s not so obvious now.
SCALING YOUR TECH BUSINESS BY DOMINIC MONKHOUSE
Calling all CEOs, Founders and Managing Partners! Learn valuable scale-up strategies in a brand new book by the UK’s top tech industry business coach, Dominic Monkhouse. Dom has a track record of scaling-up award-winning technology businesses, including two UK based companies from zero revenue to £30 million within five years. Now he is sharing the secrets behind his success in a new book, FREE to all Melting Pot subscribers. The download will be available very soon. Watch out for your copy!
What’s the secret to having an engaged and productive team? It’s having a plan for developing all employees – no matter where they are on their personal learning curves. Better morale and higher performance happen through learning, argues Whitney Johnson. In over twenty years of coaching, investing, and consulting, Johnson has seen that employees need continuous learning and fresh challenges to stay motivated. The best bosses know this, and they know how to make it happen by thoughtfully designing people’s jobs around the skills they have today as well as the skills they’ll need to be even more valuable tomorrow. That’s how entire organizations stay competitive in an unpredictable, rapidly changing business environment.
MEANINGFUL ACTION FOR MONDAY
In last week’s blog, I explored accountability and the areas of a business that tend to fall down the cracks of an org chart. As CEO, you need to put your name down for innovation. Otherwise, you simply won’t achieve the revenue from new product development that you’re hoping for. It just won’t happen. Innovation is such an important area to prioritise and yet, quite often, it doesn’t get the right level of resources relative to business as usual. You have to structure your business differently to drive innovation. As CEO, your job is strategy and the outcome of your strategy is next year’s revenue. So make sure you’re accountable for innovation. Don’t delegate it to someone else.