Navigating Organizational Change? We’ve Got Your Answers

to do and not to do

What to consider before you get started, overcoming obstacles, fighting fires, spreading the message and even knowing when it’s time to go…along with a few laughs.

Start Here:

How to Tell the Team and your Customers:

UGLY Conversations

Prioritizing:

Ruts, Stalls and Backlash:

Shifting Gears:

Lean Startup Techniques in Organizational Change:

Taking Care of YOU

Side Notes

book by Jeanne Goldie

Speed Read an Organization with our Easy Guide

Have you grabbed your Free copy of our Guide to Speed Reading the Corporate Landscape? Get a Copy of Reading the Terrain by entering your email in the box. It will help you “see” a new company more quickly and may even help you spot things you’ve missed in places where you’ve worked for years.  

 

 

One of these things is not like the others…and confirmation bias will make sure it doesn’t get the job.

confirmation bias part two

According to the HBR, when you only have one non-traditional candidate in your hiring pool, that candidate has zero statistical chance of being hired.

Confirmation Bias Strikes Again.

When a business stalls or encounters serious problems, it is often the very “team” that gave it strength that now is part of the roadblock to creating innovative solutions.  Most businesses tend to hire employees from very similar backgrounds, whether socio-economic, schooling, or even geography.  It can narrow their perspective and also create an effect where there is deadly “group think.”  This is usually thought to be a result of the players being so “comfortable” with each other that they don’t challenge each other’s assumptions, and tend to draw the same conclusions. (Real-life examples of the type of “group think” turnaround featured in the classic “Twelve Angry Men” are rarer than we’d like to believe.)

A recent study published in the Harvard Business Review points out an even more insidious barrier to change, even among those companies that may be trying to diversify their teams.  It’s a long, but fascinating read….and you better have at least two people with a different perspective if you want to turn that jury around.

If there’s only one woman (or ethnically diverse or non-college educated or under-represented “fill in the blank here” candidate) in your candidate pool, there’s statistically almost no chance she’ll be hiredRead it here. The good news? Adding just one other non-traditional  candidate radically increases the statistical probability that a non-traditional candidate will be hired.

We’ve talked about how confirmation bias can limit your ability to correctly identify your problems here and why project teams need diverse viewpoints. Need to see just how homogenous your team is? Grab our “Reading the Terrain” field guide here. The pointed questions will help you view a very familiar place with fresh eyes.

Pain Math and Magical Thinking. What Dating has to Do with it.

change rarely is a straight line

Our plans for change often involve a lot of math, a little physics and the hope of a little magic along the way.

Andrew Chen sums up the magical thinking done by Entrepreneurs and by more than a few turnaround teams in a beautiful way. Because you need to do the math. And sometimes, you need a little magic as well.

More than a few turnaround teams over or underestimate the value of their planned project, others wildly underestimate the time it will take internal teams to adapt to changes (hint, unless you literally hold  a gun to their heads, it won’t be overnight, and if you do hold a gun to their heads, human resources will likely have a few choice words for you!)

Have you done the pain math lately? And where will the magic come from in your project?

Andrew Chen’s story of dating sites and magical thinking is here

 

Rolling out your Plan for World Domination? Do this first!

bullhorn to deliver messages to employees

Is your plan brilliant? Not if they don’t hear it. Three things to consider when delivering a new plan to your team.

Eureka! You’ve done it! You figured out the master plan to explode your team’s revenues, destroy the competition, and single-handedly catapult your company to the head of the Fortune 500 list. But before you roll it out to the troops, here are three things to figure out first! (Details, details,  I know. Clearly I am a killjoy.)

The HOW:

What tool(s) will you use to deliver your brilliant plan? First, consider what you know about your team (henchmen/evil co-conspirators/devoted followers– feel free to select the description that applies to your bunch):

  • Are they readers? Note, I am not asking if they can read, (although in some audiences that is a very important question), I am asking if reading is their first choice for learning new information. Hint: if your team would prefer to listen to “The One Minute Manager” or “Who Moved My Cheese?” on an MP3, they aren’t readers.
  • If they are readers, do you need to sum up the whole idea in 3 bullet points or deliver the plan complete with a story-type framework and pictures? Do they just read “above the fold” (i.e. preview pane only) in an email?
  • Not big readers?  Can you record it in a podcast type format? Or create a video? (Don’t just read from a powerpoint if you create a video, make it interesting, after all, world domination is on the line here!)
  • Do they need an in-person meeting for the information to penetrate? (And will you need to confiscate all of the blackberries, cell phones and technical devices at this meeting?)
  • Will a webinar work? If you use a webinar, will the team multitask throughout the webinar and miss the most salient points? (See below for a Jeanne’s formula of the vector at which the quantity of multitasking during webinars obliterates any and all value of the information being presented).
  • Any special considerations? Need to accommodate an international team and reduce all “slang” and idiomatic language? (Much harder than it may seem.  Go back through these first few bullets and eliminate the American idiomatic language. Good. Now do it again. One more time. Nope, still got some in there.)

The WHO?

Give serious thought to who is the best person to deliver your message. Internal? External? Peer? Computer generated Hologram of a dead celebrity? Consider your options:

  • Should it be delivered by a trainer? Or would it be better to bring an “outsider” in the form of a consultant or third party in to deliver the message? What about having peers or respected colleagues roll it to their teams? Some of the best change teams have influential team members become subject matter experts in key areas of the change plan and help deliver that information from the team. They then become the “go to” people for the team as the team works through the change. This helps the entire team “own” the outcomes right away, and work together through difficulties.
  • If the message will take more than 30 minutes to deliver, consider using multiple presenters, if only to vary the type of voice and to keep the team awake. It is the rare individual who is fascinating for more than 20 minutes (ever notice that TED talks are short? And those folks are pretty darn fascinating).
  • If the message is vital to the ongoing success of the team’s mission, of such critical nature that life as the team knows it is about to change, make sure you rehearse that delivery several times. (Back to those TED talks folks, you do know they rehearse it right? And that they work with consultants to help them with their delivery when they make it to the “big” conference?) If possible, get some non-team members to critique it (spouses, kids and friends in other fields come in handy here) to punch some holes in it. They may not know all the technical terms but they will know when you’re boring, vague, or delivering bravado without substance. Try teenagers who are not feeling too kindly towards you at the moment. They will not pull their punches.

The FOLLOW UP:

And now that you’ve laid out your brilliant plan…

vector of listening vs absorption in a presentation

You will have a “need for speed” if laying out your master plan in a room full of multitasking listeners!

  1. How are you going to make sure that the team begins to act on what they learned? Ending a rousing presentation with “Go Forth and Conquer” is good, but not if they forget to “Conquer” because they stopped off at the 2:1 Happy Hour immediately afterwards.
  2. Is there a follow up plan to reinforce the plan within smaller groups/teams in the coming months?
  3. Is there a way to measure the participation of different sub groups in the plan? If the work flow goes Team A to Team B to Team C, nothing may be coming out of Team C but it may be because Team B isn’t playing by the new rules. Figure out how you’ll check for effectiveness.
  4. Did you plan any sort of recognition or public acclaim for those who embrace the plan and drive results? Better yet did you get the “buy in” of a few highly respected, key team members to visibly model the behaviors you’re looking for before you even rolled the plan? (For advice on who you want, read this.) You want to make sure the thought leaders and star players are on board because if the only people following the new plan are your “weaker” players, this sort of recognition will backfire.
book by Jeanne Goldie

Speed Read an Organization with our Easy Guide

Even if your plan doesn’t quite resemble world domination, you still want to work out these key items before you roll out any major changes to your team.  Need to know what else to consider before changing things up at the office? Read our 10.5 rules on turnaround here.  If you’d like our free guide, Reading the Terrain which helps you “speed read” an organization, just sign up for our weekly newsletter.

What else do you think you need to consider? share your thoughts in the comment section. Or feel free to share your plan for world domination and we’ll critique it.

Public Libraries: Dancing through the Minefield of Change

change will reinvigorate libraries

Libraries are at the forefront of Organizational Change.

If you had to put an underlying theme on my career, or even my life, its that I try to level the playing field by clarifying the rules of the game for those who are outside the “in-crowd.”

That’s why I love public libraries. They are an attempt to provide information to those who might have no access to it otherwise. If you go back as little as 100 years you’ll see how rare it was for many people to own more than one or two books or get an education past the 8th grade level. Libraries gave people a chance to catch up, or be exposed to what they had missed.  And if you couldn’t afford private tutors or travel to a large city to buy countless books on a subject, libraries brought the world of knowledge to you, if you wanted it. Is learning to play the violin from a book the same as learning from Itzhak Perlman? Heck no, but it’s a start.

Libraries also try to purchase and source credible materials for their collections. Best practices include buying well-researched books that promote opposing viewpoints.  For every “pro this” book, you were to also purchase a “pro that” book. There was a certain trust factor with the collection at the library offered scholarly, balanced, validated information. How can Librarians curate the internet? Every whack job in the world can publish on the internet if they want to (Exhibit A right here).

Now libraries are having to change with the times, caught in a squeeze between decreasing funding, new technology and a changing user pool. Do they invest their scant funds in books? Or in computer systems to grant internet access? Or do they lease “ebooks” in order to increase the availability of titles for their patrons but then not “own” the book?   Some libraries are now promoting the use of their space as a community gathering spot, a learning hub type environment, but others, stuck with a limited budget and small facilities are having to get very creative.

And how do you decide? If you were the head of the library system or on the library board, what choices do you make?

Five years ago you could make the argument that there was still a significant portion of the population without internet access. The advances in smart phones changed that. There are still many people in the US without access, but the overall curve has moved significantly (its not unusual to find someone whose electricity has been cut off but they won’t let their phone get cut off!).

So, do you provide more internet access? Or offer more e-books? Digitize the current collection? Do you clear out the physical books to make room for your own servers? And do you even keep a physical “library” building anymore?  Will school age kids still make the obligatory “field trip to the public library” to get library cards? What new advances will we be seeing in just five years, most likely the timeline it would take for most public institutions to execute a major change? (You haven’t lived until you’ve had to work through a government RFP or RFQ process).

How do you get public support for an institution that served such a vital function for so many? Is there some new, magnificent function that libraries can serve that will somehow allow for those who don’t “have”, to at least glimpse the world of “what can be”?

I don’t know the answer for public libraries but an Oscar nominated film team is exploring how some libraries are coming to terms with finding their answers. Here’s a sneak preview:

What would you do? What do you think libraries should do? Share in the comments.

book by Jeanne Goldie

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Adventures in Interviewing: Shoot Straight or Not?

 

will telling the truth help or hurt in an interview

Just how candid should you be in an interview?

Ever wondered if you should bite your tongue in an interview?  Is it ever a good time to say “Wow, that sounds like a really bad plan?” (It is assumed you don’t follow that up by rolling on the floor laughing).

I’m usually hired to fix things or start them up. This means companies tend to seek me out when they’ve got a vision of some new business line they want to open or when they know something is wrong, have tried lots of things, it’s not working and they need someone else to fix it so they can get on with their main mission.

Now when someone seeks me out, they usually know my reputation. I’m a very straight shooter,  I don’t sugarcoat things, but can take a balled up mess or a really sketchy vision and turn it into something really great. I will also point out very quickly if the glass is half empty and leaking fast. I can fix that too, but not if you’re only seeing sunshine and rainbows. I’m direct because I am going to be responsible for driving results almost immediately, and if there is a blind spot about the problems or hiccups in the plan, it will affect my work. Telling the truth can also let you see how open the company is to adapting their plan.

Sometimes, however, the hiring company doesn’t know me, as I’ve been referred to them by someone else. Hilarity generally ensues.

A personal favorite was the interview with a large bank that wanted to open boutique banking centers in underserved markets throughout the United States. I had been referred to the hiring manager, a Californian, to cover the Southeast. I was the fifth interview in the Atlanta airport lounge, out of five. As this very senior manager sketched out the plan I felt the backs of my eyes beginning to roll. Sure enough, just as every other financial institution headed into the Southeast before had done, they had used census data to select the “perfect” areas for these branches.

The data told them that Location X was an opportunity rich area, moderate, but not too low, income, with a diverse population that was historically under-served by banks. Many were the perfect age for first time home buying.  They were sure they had found the mother lode of an untapped market.

Now there was just one problem. For those of you who can remember the joys of “mean” “median” and “mode” in basic statistics, you may remember that the median is the middle number of all the data in a list. The mean is an average.  The problem with good old Location X was that almost no one in the area was actually making the mean income.  Mode, the number that appears most often, would be the more appropriate measure here. Due to the wild vagaries of the drawing of census tract lines and the strange nature of the city, the residents incomes looked like this (pretend it’s a census tract of 10 people):

1. $10K

2. $10K

3. $11K

4. $170K

5. $10K

6. $ 7K

8. $120K

9. $11K

10. $90K

Wow kids! we’ve got an average (mean) income of $87K!. We’re going to do great! Break out the champagne and the “Grand opening” signs!

Umm, not so fast.

In reality the area was a large cluster of public housing units, surrounding a small college center, with a small area of mid-level housing, mostly occupied as rentals by students (they would be the folks represented# 6, who also helped pull the average age down) or owned by a handful of professors and college administrators ( #10 above) and three gracious streets of grand homes that backed up to another census tract that was much more affluent (that would be #8 and #4). Problem was, the majority of the residents were in public housing (#1, 2,3,5, and 9) and making the income associated with that service. Most were nowhere near ready to make a leap to homeownership.

The gentleman from California was no doubt tired, having been subjected to a long flight, four earnest applicants earlier in the day, and repeatedly mentioned he was catching a plane in 45 minutes, as he hit the highlights of the master plan.

As he listed the areas, I thought for a minute, almost stopped myself, and then said very quietly, “Have you signed the lease yet on Location X?”

I guarantee that was a question no one else had asked that day. I then spelled out why Location X looked good from 10,000 feet up but had never been successful for any of the other lending institutions that had tried similar things in the area.  He looked at me oddly, and wrapped up the interview quickly.

I drove home, cell phone accidentally tossed in my briefcase in the trunk of my car. I may have even lectured myself on the advisability of opening my big mouth.  After the 3o minute drive I had a message. A call from the gentleman’s boss, asking me to call her to talk about the lease, (yes, they had signed it) and explain why I didn’t think it would work. She was about to go into a 6 hour meeting but wanted me to call her as soon as possible, any time, day or night.

I got the gig five minutes into that call. I am certain that no other applicant questioned the wisdom of the plan. And yes, Location X, despite a ton of effort and energy and cash infusions, never delivered as planned, for just the reasons I had mentioned.

On the other hand, lots of people don’t want to “look at the whole picture.” Several years ago I was approached about becoming the regional manager for a large sales team. The hiring manager pointed out that they were currently at 50 people, hoping to move to 90 by the end of the year (it was June). I politely said, “I’ve reviewed your team and by my estimate you have 18 keepers and 32 people who won’t make it, they haven’t made it anywhere else. Which means you have a rebuild on your hands.”

The previous manager had been incented on bringing in bodies without any qualifications tied to the incentive, and bring them in he did. Every single person who had failed at every other sales group in town.  Just by looking at the list of the names it was easy to see who would not be there in 3 months when their guarantees ran out.

The hiring manager hired an out-of-market friend of his, without a sales background, and sure enough, most of the 32 I marked were gone six months later. And the headcount is still nowhere near 50, or 90.

So, do you tell the truth or spout the party line? I think it’s a matter of just how badly you need the role and how much “singing the party line” may cost you individually if you can’t perform at the level expected.  Many companies will lower their expectations as they realize the plan has holes in it, they just don’t want you to be the one to point them out. But if 100% of your compensation is tied to delivery, you can sugarcoat the truth a bit, but YOU need to know what you’re getting into. And maybe, so do they.

What do you think? Tell the truth and shame the devil? Or shut your mouth, get the gig and do what you can once you’re in? What have YOU done? Share in the comments below…

book by Jeanne Goldie

Speed Read an Organization with our Easy Guide

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What are you prepared to do?! (cue Sean Connery)

What are you prepared to do?

Eliot Ness knew when to double down. And don’t bring a knife to a gun fight either!

Business success requires you to get down in the dirt and fight. It’s not theory in a business book. It’s day to day, minute to minute, choices.

Your “non” choices can hurt you even more than your active choices. “Decision by not deciding” is usually more deadly than making a wrong choice. Unfortunately, it’s not all that uncommon. There are no points in life for “not deciding” your way into a mess, but we often treat the messy results as “not my fault” because we didn’t actively choose our path.

So what are you prepared to do?! (Feel free to re-enact Sean Connery saying this line in The Untouchables. It will make you smile.)

1. What are the five most important things you need to do to immediately impact your success?

2. What are the five problems/situations/people you’ve been dodging/ignoring/sweeping under the rug?

3. What are five things you’re currently doing that aren’t driving revenue/creating the change you want but still need to get done? Can you delegate them, minimize them, automate them?

Taking Action:

Sit down for  15 minutes. Make the lists. Title them: Do, Deal With, Delegate. (I’m hoping you can tell which is which!). They don’t have to be perfect. They do have to be items that would have significant impact on your business revenue/project success/ enjoyment of life.

Next Step:

Do, deal with or delegate one thing on each list. Right now. Yes, now.

No, not next week. Not when your horoscope suggests you turn over a new leaf. Not after American Idol. Now.

And decide which thing you will Do, Deal With or Delegate tomorrow.

Eliot Ness and Jim Malone would be proud of you.

Need a reminder of what a blood oath is? Watch here.

book by Jeanne Goldie

Speed Read an Organization with our Easy Guide

Have you gotten our copy of “Reading the Terrain” yet? Its a great way to speed read a company, either a new one you may be considering working with or even the one you’re at right now. Its free, just subscribe at right.

Charging Back Uphill: Blasting out of a Stall.

(Just joining us? Read our series on “3 Great reasons why what worked before isn’t working now” Start it here)

spark a new business life

Blast out of a career or business stall with these 5 approaches.

So, you got Stuck.

Your future used to be “So bright you had to wear shades”

Now you’re not sure you should appear in public at all. Maybe ever.  

Nah. You can do it. 

Here’s how to get started:

 

1. Get a fresh set of eyes to look  you over:

We’re often blind to our own need to change. Get some feedback from a new coach, some “disinterested” friends, teenagers (they generally don’t hold their opinions back, especially around social media). And consider what feedback you got recently and ignored. What didn’t you do or change because you “knew better”?  Give it some consideration. Perhaps try a small test, don’t realign your every principle or move your entire marketing budget, but give an alternate approach a real test, even if only in a small section of your business.

2. What is the other guy doing that is working? 

Look at your competition, both your old competition and any new players. What’s different? What’s working for them? Don’t instantly adopt it, just take a look, see if it might benefit your business plan.

3.  What are your 80/20’s? Put some laser focus on them.

Pareto said 80% of our results come from 20% of our efforts. Take a look at your 80/20’s. What’s working? Parse the ad budget, evaluate the social media push, streamline the plans to a manageable level. And then take a look at where you are spending a lot of effort and just not seeing the results anymore. Shoot the Elephant. Master the art of saying No. Pull the darn tooth. Have that Uncomfortable Conversation that ties your stomach in knots every day.  Refocus.

4. Tell a New Story.

No, this does NOT mean lying to yourself. It does mean looking for parts of the narrative of your business or personal story that you may not have paid attention to before.  I have always described myself as a business turnaround or start-up expert. But I am also someone who can focus and fix the areas of business that are messy and “un-fun”, which allows others to keep driving revenue by focusing on the areas that they’re great at while I handle the messy stuff. Some people are looking for me to do just that. So what’s your story? Are you telling people it in the way they need to hear it and how they want to hear it? Here’s some ideas on that  subject. And a thought or two on Reframing. A great book on how to do this on a personal level? Read “Body of Work” by Pamela Slim.

5. Try one new thing. Today. And do the same thing Tomorrow.    

And don’t spend too long thinking about it. Try a new route to work. Call ten new clients and try a different sales pitch. Take an online translation tool and transfer your resume or website into another language. Then translate it into another very different language (make sure they’re not similar, use something like a Romance language followed by a Cyrillic language). Then translate it back into English. Does the new translation give you any ideas? Sometimes it’s a word or phrase that can make all the difference. Change the way you structure your day, do the sales calls first and don’t answer email until noon.  Drop one of the activities that wasn’t working and replace it with something that makes you a bit nervous but that you have always thought might work. Get way out of your comfort zone with that one. Set a budget for “new things.” Big Businesses call it R&D but you can call it the “Rut Stopper” budget. Take a chunk you’re willing to risk and commit.

Need more ideas? Try some of these articles we’ve written before:

15 new things for 2014

10 Rules of Turnaround

The Sunday Night Dreads

Is this it? The Mid-Level Manager’s Lament

Deal with Other’s Great Expectations

Sell your story with Sizzle, Steak or Rainbows. Or just add a Giant Panda

Figure out why the team is fighting you on this.

Or just have a good laugh and start again tomorrow.

book by Jeanne Goldie

Speed Read an Organization with our Easy Guide

And if you didn’t do it already, subscribe to our website and download your free copy of “Reading the Terrain; a Field guide for speedreading the Corporate Landscape”. No one’s going to bombard you with emails or sell your name to anyone. We’ll just send you a newsletter once a week you can forward to others who are trying to create change. And teach you some really good stuff. Take it from the woman who once lost out to the Fulton County Rat Poison Lady and a Freight train. There are some mistakes you don’t want to have to make yourself.

 

 

 

 

 

 

#3 of 3 Great Reasons why what Worked for you Before, isn’t Working Now.

rapid rise and descent of a business strategy

Your strategy was working great, then it stopped? Here’s three reasons why it may have stopped working

It was Working.

Now it’s not working.

Why?

It’s hard to continually grow success. With rare exceptions, the line to the top of the success platform is more often a series of “one step forward, two steps back, a side step, a loop de loop,” and then, finally, “up we go”. One of the most difficult things to come to terms with in both business and personal life is when something that had worked so well for you previously is now not only not working, but may actually be working against you.

So why isn’t it working?

Joined us in the middle? See Reason #1 and Reason #2

Reason #3. Your product is wearing the wrong clothes.

Your product/business/idea may be great, but it may be dressed in the wrong packaging for your intended audience. Now this isn’t usually the main driver, but can be why growth has stalled. What do “the wrong clothes” look like?

  • Your high tech/impulse purchase product isn’t optimized for mobile access, or you created a high tech mobile product for a “not very high tech” audience. You may have reached the saturation point for the people that recognized your product in the space it is in, but you may be missing a much larger market that is playing in another playground.
  • Your choice of market place isn’t reaching the maximum audience.  Are you a retail store? Are you in a indoor mall? How is your foot traffic vs the foot traffic at a strip center (and yes, it was a very different story 10 years ago)? Or maybe you’re a business website with a non-visual based business who is doing all your marketing over on Pinterest.  Blogging when your audience wants podcasts? It may not be that you’re located in a bad place, you just may not be located in the optimal place.
  • Your packaging doesn’t match what your audience’s expectations. Are you a luxury business with a pre-canned, pre-formatted word template for everything from invoices to your website that reeks of beginning Microsoft 101? Is your website loaded with “Coming soon” and a copyright date of 2011 running across the bottom?

 Well that’s just great, Jeanne. So what do I do now, Little Ms. Fix it?

Read our next article, Charging Back Uphill, Blasting out of a Stall. 

book by Jeanne Goldie

Speed Read an Organization with our Easy Guide

And in the meantime, if you haven’t already done so, subscribe to our free weekly newsletter and get a your copy of “Reading the Terrain, A field guide for speed reading the Corporate landscape” instantly. It may help you identify some critical mismatches between where you think you are and how those on the outside see your business.  And no, we’re not going to sell your email address to others. Or bombard you with insta offers. We’re just going to send your our newsletter that helps you navigate in a time of constant change.

 

 

3 Great Reasons why what worked for you Before isn’t working Now (Pt. 2)

 

rapid rise and descent of a business strategy

Your strategy was working great, then it stopped? Here’s three reasons why it may have stopped working.

It was Working.

Now it’s not working.

Why?

It’s hard to continually grow success. With rare exceptions, the line to the top of the success platform is more often a series of “one step forward, two steps back, a side step, a loop de loop,” and then, finally, “up we go”. One of the most difficult things to come to terms with in both business and personal life is when something that had worked so well for you previously is now not only not working, but may actually be working against you.

So why isn’t it working?

(Go Here if you missed Reason #1, “The ground under your feet changed”)

Reason# 2.  You mistook a one-hit wonder for permanent success.

Pet Rock? Business theory flavor of the month? You had a great run but suddenly its not working,  and now you’re stuck.  Hopefully if you intentionally produced a gimmicky app, product or snack food you knew it was going to be short lived and planned accordingly. But sometimes, you and your product are the beneficiary of lucky circumstances, timing or a specific moment in the market, which can create a false sense of a more permanent success.

Think of a musical group that has their song picked for the soundtrack of a hit movie. The song skyrockets to the top of the charts. Now it’s time for a follow up. Maybe it’s a winner, maybe they were the beneficiary of a moment in time. There will be a big difference in their future between living on the residuals of one mega hit vs owning the Rolling Stones catalog.

Notice I didn’t say that the musical group was any more or less talented or hardworking than any other musical group. Hard work and talent count but there are a lot of hard working and talented people out there and they’re not all giant successes.

In the business world, the markers of what made a particular set of circumstances unique often aren’t known until hindsight kicks in.  Years ago I worked in the non-profit arena where many large grants and funds were available due to a specific set of circumstances in the market (bank mergers coupled with mirroring a favored business theory of the then current government administration). The trend continued for nearly 5 years. If you began or started a non-profit in that space during that time, it was easy to raise funds and gain support, giving you a sense of success and a feeling that you “knew how things worked.” Except that was a moment in time, not replicated at any point for the next 11 years.

Were you attached to a popular business theory that “ran its course?” In the past few years we’ve had “The Secret”,”Get Rich Quick” schemes,  and a host of other short term mega hits. If your work is closely attached to a theory that is now discredited or fallen out of favor, even if your work is sound, you will need to repackage it and rebuild success based on a new foundation.

You may have even been the cute new “upstart” in a business sector, and now you’re the “middle-aged” stalled out player, not venerable enough to be one of the “big boys” you ran circles around when you started, and not youthful enough to be as nimble as new market entrants. Many of the “dot-com” wonders of the early 2000’s are facing this dilemma now. Your growth rate no longer thrills Wall Street, because it’s hard to match the early years of phenomenal growth, and the “new market” players may have more immediate upside potential. And the old boys either went under or figured out how to address the threat you made to their market share all those years ago. You’re in the middle, and need to regroup.

Our next article: Reason #3 “You’re wearing the wrong clothes”

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