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What makes your company different?

What are core competencies and why are they important for business growth?

Have you ever drilled down into the unique abilities of your business? Or picked something that you know you can compete on? There’s likely to be a set of skills and experience within your business that sits above products and services and delivers you a competitive advantage. 

These features are the essence of your business’s core competence and identifying them will help your business gain strategic advantages, provide superior products and services and ultimately achieve the growth you crave.

When we start a two day, strategic kick-off with Executive teams, we ask everyone to write down what they think their organisation’s core competency is. It’s fascinating. Every answer is different and it’s difficult to find a consensus. It shows up very quickly the lack of consistency around what they’re trying to do. 

It’s vital to define and get agreement on the capabilities and organization-wide strengths that help your business stay ahead. This collective learning around your competitive advantages and the superior value you offer your customers are the hallmarks of a successful business.


How to Scale your Business with booking.com Founder, Jeff Hoffman

If you’re looking for advice on how to grow and scale your startup or business, then don’t miss Jeff Hoffman, founder of booking.com, award-winning global entrepreneur, proven CEO, worldwide motivational speaker, bestselling author, and Hollywood film producer on this week’s episode of The Melting Pot.

You might have heard of his little venture… booking.com (priceline.com in the US). Jeff has recently put pen to paper and written down the seven principles for growing a business in his book, SCALE: Seven Proven Principles to Grow Your Business and Get Your Life Back

In this episode of The Melting Pot, Jeff talks about the importance of mindset, why CEOs need to get out of the way, and what the role of a CEO really is. So grab a pen and paper now, this is a truly insightful podcast, you’ll want to take notes.


Focused

David Sparks and Mike Schmitz are not nearly as productive as they’d like to be. Join these fellow travelers (and a bunch of special guests) as they share the best ways to get focused, and talk though their successes and failures along the way.


IDEO’s Employee Engagement Formula

In a world where great talent is hard to find and harder to retain, companies succeed by keeping their employees engaged, happy, and fulfilled. There is no silver bullet. But these four principles have helped IDEO go a long way in achieving that goal.

Hybrid is the New Normal. However, Core Work Relationships Still Matter, and Need Rebuilding

ONS (Office for National Statistics) released data that showed that 84% of those people who had to work from home during the pandemic now plan to hybrid work, with only 8% wanting to be full time in the office. However, there is a risk that core work relationships that have been depleted during the last two years will not be rebuilt.

UK ahead of European peers on shift to working from home

The latest Google mobility data for a Thursday (May 12) — the peak weekday for office working — showed commuter numbers were still more than 20 per cent below pre-pandemic levels. This is more than double the levels in most other European countries using the equivalent data, with Germany only 7 per cent below pre-pandemic commuter numbers.


Compassionate Leadership by Rasmus Hougaard and Jacqueline Carter

A global pandemic, economic volatility, natural disasters, civil and political unrest. From New York to Barcelona to Hong Kong, it can feel as if the world as we know it is coming apart. Through it all, our human spirit is being tested. Now more than ever, it’s imperative for leaders to demonstrate compassion. But in hard times like these, leaders need to make hard decisions—deliver negative feedback, make difficult choices that disappoint people, and in some cases lay people off. How do you do the hard things that come with the responsibility of leadership while remaining a good human being and bringing out the best in others? Most people think we have to make a binary choice between being a good human being and being a tough, effective leader. But this is a false dichotomy. Being human and doing what needs to be done are not mutually exclusive. In truth, doing hard things and making difficult decisions is often the most compassionate thing to do.


The Synergy Solution by Mark L. Sirower and Jeffery M. Weirens

Few actions can change the value of a company—and its competitive future—as quickly and dramatically as an acquisition. Yet most companies fail to create shareholder value from these deals, and in many cases they destroy it. It doesn’t have to be this way. In The Synergy Solution, Deloitte’s Mark Sirower and Jeff Weirens show acquirers how to develop and execute an M&A strategy—end to end—that not only avoids the pitfalls that so many companies fall into but also creates real, long-term shareholder value. Sirower and Weirens provide invaluable background to those considering M&A, laying out the issues they have to consider, how to analyze them, and how to plan and execute the deal effectively. They also show those who have already started the process of M&A how to maximize their chances of success.


News from the farm

Scale Up workshop with Dominic Monkhouse

Feeling anxious about a looming recession? 

We want to help you remove the uncertainty about the future and show you the tools that will allow you to react faster to changing market conditions

Join Dominic Monkhouse and five other business leaders at our farm in Wiltshire for an intimate and highly interactive strategy session. Dominic will show you: 

  • How to keep your team aligned on your strategy
  • How to recognise the core of your business and avoid getting stuck in a cash/execution cycle.
  • How to set the right conditions for disruptive innovation.

SAVE YOUR SEAT NOW


MEANINGFUL ACTION FOR MONDAY

Make a list of the things you don’t enjoy at work and stop doing them

According to a ten-year study by McKinsey & Company, people that are in flow, or playing to their strengths – A-Players– are five to ten times more productive. So, here’s an exercise you can do. 

Get a piece of paper and divide it into two columns: on the first one write down what brings you joy, feels effortless and fills you with energy at work; on the second column, write down your frustrations, the things that you procrastinate and defer because they drain your energy. Then, in the next 90 days, take one of the things you don’t enjoy from the second column and stop doing it, delegate it to somebody or pay somebody else to do it for you instead.


Upcoming events

Webinar: Happiness is a serious business with Nic Marks – 7th June

Join TED speaker, statistician, happiness expert and Friday Pulse Founder, Nic Marks where he’ll cover why happiness is more than a laugh, how to best measure happiness at work, how to identify the key drivers of happiness at work, and how to build happy teams.


The Melting Pot Live with Hermann Simon: Defeating Inflation – 28th June

Join Dominic Monkhouse and expert in strategy, marketing and pricing, Hermann Simon for a LIVE session of The Melting Pot where they will discuss how to optimise prices in line with inflation. In this session you will understand the profit mechanics, how to strengthen pricing power, how to apply tactical pricing and much more.

Join LIVE on Tuesday, 28th June at 3 PM (GMT +1)


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

“In differentiation, not in uniformity, lies the path of progress.”

Louis D. Brandeis

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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