Fisher Strategy

New York Time Op-Ed Columnist Paul Krugman has it right. In a recent op-ed article, Krugman ably illustrates how the dysfunction of the current U.S. political environment is undermining our true prospects of any economic recovery.

Krugman argues, I think rightly so, that a fundamental lack of individual leadership from those in public office is to blame for our lack of economic progress, stating, “We are no longer the nation that used to amaze the world with its visionary projects. We have become, instead, a nation whose politicians seem to compete over who can show the least vision, the least concern about the future and the greatest willingness to pander to short-term, narrow-minded selfishness.”

Read this thought provoking article, and then try to ignore the painful reality.

Earlier this morning, President Obama participated in a televised town hall meeting on CNBC to discuss the state of our economy.

Regardless of your politics, everyone agrees that we are currently in a complex economic pickle, and it’s time we start climbing out of the hole we are in. This is what they discussed in the town hall meeting.

The big take away for me was the massive illustration that we as a country – and most individuals – face what’s known in business as a “turn around situation.” We are at the end of a rope, and we simply cannot continue to do in the future as we have done in the past. Both individually and collectively, we Americans face the biggest economic challenge we have ever faced, and we must make changes if we are to survive. Simply put, it is more imperative than ever that we begin taking necessary corrective action – and that we start doing so immediately.

And what constitutes “necessary corrective action?” I believe the answer can be summed up in one two-word phrase:  Strategic Reinvestment. It is time we start reinvesting in our businesses, and our communities, so that we can create a more desirable future situation. We simply cannot wait for it to happen by itself.

As one audience member put it, “If there is one thing we have learned in 100 years of running our small business, it is that to succeed – to survive – you have to reinvest in your business.  It simply is imperative.”  I couldn’t agree more.

The Fulcrum Institute helps entrepreneurs and small business owners tackle their own particular turn around situation, and take that necessary corrective action to change and enhance their own particular situations.

By identifying and relentlessly focusing on the key issues at hand, our clients make strategic improvements in their businesses to survive and thrive in this economic climate – and be better positioned to do so well into the future.

If you are starting a business, or working to make an existing small business succeed, thrive, and grow, please contact The Fulcrum Institute to help you identify and articulate the specific problem or challenge, generate and analyze appropriate strategic solutions, take consistent action, and communicate constantly.

…Is the ability to translate Vision into Action.

As the old Japanese proverb goes,
“Vision without action is a daydream.
Action without vision is a nightmare.”

True success comes from doing the right things to accomplish the right things. Set the right course (true to yourself, constructive rather than destructive), and focus relentlessly on aligning your resources and managing your time to achieve the incremental milestones that get you all the way there.

Yesterday, I attended a day-long seminar put on by the Walt Disney Institute, discussing how the Walt Disney Corporation does what it does so successfully.

In a friendly, fun, and open format, we discussed things such as:
>> The Service-Profit Chain (as defined by Harvard Business School)
>> Disney’s condensed adaptation called the “Chain of Excellence”
>> Disney’s Collaborative Culture
>> The Power of Story Telling (& that everyone is a story teller, whether you like it or not)
>> Cultivating a Leadership Culture
>> Engaging the whole team
>> Building trust
>> Managing and Developing People
>> The importance of Training (“Every organization has a culture, either by design or by default”)
>> Knowing your customer
>> The “Continuous Improvement Process”
>> Making incremental change everywhere, everyday

I learned a lot, and a lot of what I already knew was reinforced.
Over the coming weeks and months, I will delve into and discuss each of these topic a bit more in depth.

Stay tuned…

John Wooden, the unbelievably inspiring 30-year basketball coach from UCLA (1948-1975), died this week at the age of 99 years.  With his death, the world has lost a tremendous leader.  Thankfully, we live in a world where his contributions are readily accessible (check out his wiki-bio, for one).  He had so many wonderful quotable comments, with a wonderful knack for reciting epic poetry off the cuff to make his point. My favorite being this:

“Success is peace of mind which is a direct result of self-satisfaction in knowing you made the effort to become the best of which you are capable.  Don’t try to beat the other guy.  Play your best, and you will be successful.”

Perhaps his most important contribution was his Pyramid of Success.  He said he took 14 years to refine it to a point where he could share it with the world.  Find it online.  Download it.  Print it.  Consume it. Absorb it.

Part of the Pyramid is his 12 Lessons in Leadership:

1. Good Values Attract Good People
2. Love is the Most Powerful 4-Letter Word
3. Call Yourself A Teacher
4. Emotion is Your Enemy
5. It Takes 10 Hands to Make a Basket
6. Little Things Make Big Things Happen
7. Make Each Day Your Masterpiece
8. The Carrot is Mightier Than the Stick
9. Make Greatness Attainable By All
10. Seek Significant Change
11. Don’t Look at the Scoreboard
12. Adversity is Your Asset

I had an amazing meeting with a group of executives from a local architecture firm yesterday. I was talking with the firm’s three owners about how they were facing a transition period in their industry, which was forcing them (in a good way) to re-evaluate their entire business model.

They were facing a classic business conundrum: how to generate needed revenue now (the old way), while working concurrently to evolve the business model in order to ensure success in the future. To make matters more challenging, this firm is a firm of four: 3 executives who started the business together, and 1 junior professional to fill in the gaps in between.

These fellas have been working overtime non-stop just to accomplish all of their day-to-day chores.  And this was just enough to keep up with the bare essentials, to keep things going, to “keep the lights on.” They admitted there had been precious little time (or energy) available to focus on strategy – even though they all agree openly that their business model has to evolve today to thrive tomorrow. They said they would talk about it periodically for an hour or two, here and there, and then something would inevitably pop up and derail the conversation.  And nothing was getting done in the strategy department.  Sound familiar?

We dedicated the rest of our meeting to focusing on the big picture, so I (and they) could become more clear on the overall situation. We stepped back from the immediate needs of the here and now (accepting them as given), and looked forward to a few years in the future. Where did they want to be as a company in 3-5 years? What did they want to be known for?

After just an hour conversation, they confirmed their dedication and commitment to future success, and made the conscious decision to commit the next month to focusing on strategy development. With the help of The Fulcrum Institute, this group of executives has committed to devote a set number of hours per week, developing future strategy: vision/mission development, market research, new service development, defining their niche, and so on.

This task may take weeks or months to fully complete.  However, it is essential work that has to be done.  So the group has agreed that these meetings will continue for as long as necessary, and are not to be interrupted by the individual days’ events.  Their continued dedication, focus, and follow through are absolutely required for them to achieve success.  I am excited to facilitate this group’s exploration, and look forward to seeing the fruits of this labor unfold.

How has stepping back helped you to move your thinking forward?  Please let me know.  Many thanks.

Here is another interesting post from Umair Haque.  Never heard of him?  I stumbled upon him through the Harvard Business Review’s Daily Alert, which puts a sampling of HBS professors’ blogs into your inbox every morning. Scanning these “headlines” is a great kick in the pants every morning. I highly recommend it.

The tease: Umair says “The 20th century ended a decade ago, but the 21st century never began: the noughties were a lost decade, where jobs weren’t created, innovation became unnovation, and prosperity itself failed.

2010 is the real first year of the 21st century. And it’s going to be a year of conflict between the leaders of the old, fraying institutions of the 20th century, and the builders revolutionizing those institutions in the 21st.

Here’s a framework for thinking strategically in the 21st century. Six soft “wars” will define 2010 — and beyond. Three are conflicts no organization should fight, and three are struggles every organization who wants to survive, develop, innovate and prosper must…”

Read the Whole Article.