Knowing which side is your bread buttered on

March 14, 2010

I’ve seen lots of people lose site of who the client/boss is. Whether it’s a consulting situation or merely your boss, it’s important to maintain focus on who it’s (relatively) most important to please. Particularly early in their career, professionals can get hung up on what’s “the right” thing  to do, presenting “the right” solution (as if there’s just the one) or naively misunderstanding what gets rewarded and punished. My point is not that idealism is wrong, but rather to keep perspective on priorities and understand “which side your bread is buttered on”.

(Caveat: There is a whole separate set of topics around this on “getting what you want” and “being politically astute”. For the sake of clarity, I am not talking about these things. We’ll focus both on pleasing the boss and understanding the consequences of not pleasing him/her. There are certainly times when we decide to do what we think is appropriate and that has consequences. That’s for another post.)

First, let’s be goal oriented. As reward seeking individuals, we want to do well. This can be defined financially (won another sale, increasing my pay), reputationally (I was praised publicly, increasing my social capital), emotionally (I did good work that was important, increasing my satisfaction) and in many other ways. To get any of these you need influential people to decide you did good work.

So what’s the pecking order of who we need to please? With clear exceptions and understanding that “it depends”, I would propose the following hierarchy:

Level 1 – Your boss. You MUST please your boss. Even if your boss is ineffectual and weak, if they don’t advocate for you you will have a hard time in reviews and salary discussion. Make your boss look good and you are well on your way to good reviews.

Note: I get that some bosses are crappy and treat you poorly. In this case you need to manage a move without pissing them off. Whether you like them or not, you don’t want to turn them into career terrorists for you. Also – getting a reputation as someone who can work with anyone is a plus.

Level 2 – Your boss’ boss and chain of command. Collectively, these executives will have a big influence over your fate and your work presumably directly affects their performance. You want them to A) definitely know who you are and B) have a positive impression. Generally speaking, they will be the ones who decide whether you get other opportunities, not your boss. This is usually because they have greater span of control and more influence.

Note: They have more power, but are second on the list because your boss will still be more immediately relevant in your review, compensation etc. If your boss kills you in a review, you’re dead.

Level 3 – Clients. This could be either internal or external.

I have them third because in any individual interaction, you need to understand your boss’ priorities as you evaluate and prioritize your activities. In the long term if you piss of your clients, you’ll have a short career. I am not saying clients are less important than your chain of command. Without clients, there is not business. What I am saying is that for an early/mid-career professional, never forget who’s in charge.  For example, sometimes you need to aggravate your client to meet a firm goal in the short term.

If you are a consultant working for a client or working cross-functionally on a team outside your department in a large organization, it’s important to understand several things clearly.

First, who is actually paying (or reviewing) you? Stated differently what budget line item is your fee coming from and who is the actual decision maker? Never confuse that with “who do we deal with the most” or “who is assigned as our liaison” etc. Understand where the buck stops.

Second, you need to understand their political position. Are they internally powerful? Are they internally weak? This matters because you want to be smart about navigating a client’s environment. Whether it’s being clever in support of your primary client and their agenda or not overplaying your support because you want to win future work and they aren’t in a position to buy, you need to understand the landscape.

Managing across levels. Sometimes you have to piss someone off. Be strategic and don’t always make it the same person/group. Spread the pain and make sure you “make good” at some other time.

I’ll give a few examples I have seen in my career:

  • Partner tells you to do something that doesn’t appear in your client’s interests.
  • Client staffer (but not your “paying” client) you really like is going to get hosed by a pending decision.
  • Your boss’ boss asks you to do something not in your boss’ best interest.

How would you handle these? There’s no “right” answer, but I’d encourage you to think broadly about how to prioritize and always remember “which side your bread is buttered on”.


Competence

August 15, 2009

Never underestimate the power and value of competence. You could substitute “professionalism” here probably, but I like competence better.

I have to vent a little, as I’ve has a string of personal frustrations lately that their heart are issues of people either not caring or not taking the time to get things right.

Case 1: I return from my lovely vacation at the beach and take my puke-stained mini-van (my 6 yr old couldn’t handle 24 hrs in the car!) to the high end car detailing shop. I wanted the car strip cleaned…I mean really nuke it. I paid >$50 for the interior detail package.

I’m in a hurry, as we had just gotten back and I had to get dinner and run other errands before getting home. I wait 45 minutes, which doesn’t bother me as it’s a big job. I get the keys returned to me and drive home. It turns out the back wasn’t vacuumed (sand everywhere) and a few other visible defects were obvious.

Should I have checked while there? Sure. Should I have to? No.

Competence…

Case 2: We just sold our old house. After a drawn out sales process given the economy, we finally had a buyer. While we were on vacation the check from the deal didn’t clear with me 1500 miles away and relatively helpless to move other money around. I have NEVER in my personal or professional life been so angry. I went crazy with my real estate agent and our closing agent. I ended up unavailable later in the day when people returned my calls, so my wife had to spend 3 hours on the phone with 3-5 different parties to get it squared away.

It turns out the title company mis-printed every check that day. The real issue to me isn’t the mistake. We ALL make mistakes. It’s that we had to literally yell to get any response and that no one in the process would own the case.

Competence…

I hear so much talk about the need to be a “star” and a “leader”, all sorts of aspirational descriptors of wonderfulness. Well, in large parts of my career I’d have settled for people just doing what they were supposed to do.

I want to be clear, that in my world “competent” does not mean average. It means “good” or “professional”. It describes the colleagues who understand their role, do their best most of the time, are practical and focused on the end goal, don’t get too caught up in the silly stuff and (most importantly) are NEVER going to bail before the job is done.

In my program at the Carlson School, I have 5-7 student consultant teams every semester. Teams all do well and we have happy clients, but there’s always “turbulence” on a few teams. I would say the #1 gripey feedback people have about others when things go poorly is lack of commitment and/or follow through. It’s rarely that someone couldn’t do their work, rather that they DIDN’T. And in the worst cases, without any advance notice. Often, all it would take to at least buffer the problem is a little warning and then doing some make-good helping at some later point.

Some people just never get this. They also fail to anticipate the future reputational consequences. You want to be the person everyone wants on their team, not the person no one wants.

I sometimes wonder in what universe it’s OK to just not do what you said you would.

At some point in the murky past my uncle, a successful small town businessman, offered the following (paraphrased) advice. “Stay in one place and be competent and you’ll never have to look for business.” His point was that most people move around too much and/or aren’t as reliable as we might want them to be. (How bad is it that my wife is in love with our deck builder because he returns calls and shows up when he says he will?) If you put both together, you’ll do OK.

It comes down to acting the way we all know we should and yet a lot of people can’t seem to muster:

  1. Do what you say you will.
  2. Follow through. Most of the time, it’s as simple as returning a call.
  3. Be good at what you do.
  4. Care about the result.
  5. Care about the impact of your work & commitments on others.
  6. Be respectful to others.

I could go on, but will stop. I’d encourage you to think about how important it is to be “competent” if you strive to be a star or a leader…or even if you just want respect.


Let It Go: Don’t let Anger or Frustration Derail You

July 12, 2009

In the last month I’ve chatted with a few folks who were grumpy or bitter about some situation in their work life.  I find myself giving the same advice over and over. “Let it go.”

My kids have a great book Zen Shorts, about Stillwater the panda bear and his three new friends Michael, Addy and Karl. Stillwater shares a story with each child based on a typical issue they are dealing with. For Karl, it’s anger at his older brother Michael over various slights and bossings around.

Stillwater relates the story of an elder and younger monks’ journey in China. At one point the older monk stops to help a wealthy lady across the street. She is haughty and ungrateful for the help. Hours of brooding later, the younger monk says to the elder, “That woman back there was very selfish and rude, but you picked her up on your back and carried her! Then she didn’t even thank you!”

The elder monk’s reply? “I set her down hours ago. Why are you still carrying her?”

Hanging on to anger isn’t effective in the long term. It may motivate you in the short term, but probably not to a useful outcome. It also diverts attention from your own journey.

I’m not saying don’t be frustrated or get upset. These are normal human emotions. You need to learn to control them and help them empower you.

Why are you angry?

First, think about what is making you angry. Is it a personal slight, unjust treatment of others, poor performance of a work group or individual? Context matters.

How do I deal with it?

Did someone hurt your feelings or embarrass you? DON’T respond in anger.  Most of the time, the clever retort or blunt email will come back to haunt you. Try to develop a thicker skin. You need to learn to control how you reveal your emotions. Manage them or they’ll manage you.

1 – Vent. As a venting mechanism (because we need help letting it go), I try to do two things. One, have a good friend you can let it rip with to get it off your chest. I’ve peeled wallpaper off the walls of conference rooms sharing frustrations with some of my close colleagues. Then I try to put it in a box and tuck it away. Catharsis is good if it moves you forward.

Another strategy is making sure you’re exercising and in decent health. My ability to regulate my mood and patience is greatly improved when I’m exercising.  A long run or time on the elliptical runner help me think clearly and let the endorphins go.

2 – Do something about it. Frustrated because something is unjust or a work situation is bad? Work to make it better, rather than simply ranting and becoming a crank.  Nobody likes the “angry” person. Be useful and channel your frustrations into action.

I am also not saying “turn the other cheek” or ignore people if they are trying to attack you. But responding angrily will go badly. Respond coolly and be disciplined in how you manage the situation. In Godfather terms, be Michael, not Sonny. He dies shot up in a toll booth because he was a hot head.

I’ve heard it called “personal mastery”. Whatever you call it, get it.

As the buddha said:

“You will not be punished for your anger, you will be punished by your anger.”


Problem Solving 101

June 16, 2009

Much of my teaching is focused on how to effectively define a problem, how to go about solving it using discipline and various techniques and then how to frame to recommendations so that others will take action. I have written on this in the past as well.

Too many books I see on the problem solving side take an overly complicated approach, particularly for readers trying to go from “not so good” to “pretty good/good”. The typical tome is much more of an expert practitioners guide and makes things more complicated than they need to be.

I really appreciate Problem Solving 101: A Simple Book for Smart People because it doesn’t fall into this trap. It takes a light-hearted and practical approach to demonstrating a simple but powerful set of basic tools.

Ken Watanabe worked for McKinsey, a leading strategy consulting firm. He distills the basic components of theirs (and everyone else’s) basic problem solving structure into problem definition, analysis structure and solution definition. He does this using a few simple (but not simple-minded) examples that were originally developed for 6th graders. It’s a very quick read (digestible in a short plane flight) , useful and worth a read whatever level of skill you believe yourself to be.


Performing When the Lights Come On

May 3, 2009

This week we began our cycle of final client presentations and I was reminded of the importance of performing well in the meeting. This is another “obvious point from Phil”, but let me elaborate.

You can have the most dynamic, data driven and compelling story in the world. But if you don’t sell it and respond credibly to questioning in the meeting then you’re dead. Don’t forget that your audience is not just buying into your content. They are deciding whether they buy you.

So what can we do to improve our likelihood of success? Let’s break it down into components:

The Presentation

I won’t spend too much time here as I think this is an entire multi-post series. However, a few important points are worth making.

1)     Make sure it looks professional – If you couldn’t take the time to make it appear decent, why should I take time to listen? 

2)     Be sure to have run it by stakeholders for vetting and input (as appropriate) – You don’t want to be surfacing “new” or controversial information in most cases. You want people to be saying “I agree” and “that will work” etc. Particularly if you are looking for a decision in the meeting you need all “Ts” crossed and “I’s” dotted. Any doubts will send you to “take another look at that and we’ll re-consider this…” hell.

3)     Have organized it logically to tell the story you want to convey based on your audience – Make sure the story flows and builds sensibly. Your audience won’t all be at the same place, so be careful to ensure you’ve given enough context or background. If you are building to one conclusion you organize differently than if you have a series of decisions etc. Never jam up your material with lots of junk slides. Feel free to use your appendix liberally. A general rule of thumb on slides is that if you don’t have 2-3 minutes of discussion per slide (on average) then you should push it to the back.  I’ll write more on this in the future.

4)     Don’t fall in love with your research/data. There is a phenomenon called “the curse of knowledge”. It essentially states when you know something too well you have a hard time summarizing it simply for novices. Never forget you have spent hours, weeks or months thinking about some of your material. Your audience has 30-60 minutes. Bring it up to an understandable level of summary. Also exclude unnecessary charts or data that are “cool” but not relevant to your central story. The appendix can be huge and is great for this content. You certainly want people to understand how much work has been done, but don’t want to distract.

The Delivery

As I mention above, if you deliver your content poorly it will die. You may not get eaten up, more likely you will just be ignored. Your ability to “stand and deliver” will have a big influence on your effectiveness.

1)     Be confident. Lack of confidence is a killer. It makes everyone in the room less sure of what you are telling them and raises unnecessary doubts. If you are not in fact confident, figure out how to seem so. As they say, “fake it ‘til you make it”.  The more you do it, the more comfortable you are.

2)     Understand your goals and be disciplined in what you do/don’t say. You can’t be trying to make 26 points. Pick your 2-3 major storyline elements and hammer them. You should not get to the end and have people say “that was great” and not know what they need to do.

3)     Pace your content appropriately for the level of thought and discussion required. If you have 63 slides and need several contentious decisions made then 60 minutes isn’t enough. Sometimes you are asked to recommend, sometimes to facilitate discussion. These are very different goals and require different structure of content and delivery of material. Plan accordingly.

4)     Be prepared for challenges. It’s important to have thought through who will be in the room (stakeholders) and what each person’s likely interests and objections are. Ideally you’re on top of this enough to have adjusted your slides to address this, but either way you need to be able to respond in real time.

5)     Plan potential responses. For the top likely challenges you can build well formulated responses, even including specific appendix slides. It’s very compelling when you can specifically address these types of challenges. First, you demonstrate that you thought of the issue. Second, you carried the thought through to analysis and built content around it. Third, it potentially allows you to show respect to opposing points of view. The act of building content can convey open-mindedness.

My experience is that if you are well prepared for key lines of questioning then you will receive fewer challenges as the presentation progresses. Basically, they’ve bought that you know your stuff and allow you to proceed. If you can’t address the first several challenges…ouch. It’s going to be a long day.

6)     Understand the room & setting you are in. You need to be prepared for all the little details of staging. Are we around a table, are there 5 or 50 people etc.? There isn’t a universal rule for “what’s best” . But you do need to understand the environment you’ll be in to effectively plan your delivery.

7)     Be respectful in responding. If you lose your temper or are casually dismissive of any audience member you severely limit your effectiveness.

8)     Practice. If the first time you’re going through your material is in the moment then you won’t have anticipated many of the pitfalls inherent in your content. Several dry runs turn up both flaws in logic, as well as slide/content mistakes.

9)     Manage your nerves/Have fun! I personally enjoy the “joust” of presenting and persuading, but I still get nervous. Practice helps this. In addition, I’d encourage you to take the attitude that this is your opportunity to show all your work.

There are many other subtle tips to offer, but if you actually work at the advice above you’ll have less pain and more success. A disproportionate amount of career success comes from how well you deliver in these key situations. You want to be building a positive reputation.

Let me know if you have questions or would like me to dig into any of these areas more.


Answering “so, tell me about yourself…”

March 7, 2009

An almost universal interview question is some version of “tell me about yourself” or “walk me through your resume”. Despite this being entirely predictable and a softball question, I see way too many interviewees butcher it or at least under-deliver on it. An earlier post on interviewing basics outlines how to handle the overall interview. I want to dig into how to handle what is likely the first question.

 

Build a Framework

 

Always remember that you are trying to convey several main ideas to your interviewer. Every story or example you offer should re-enforce these themes. In the Consulting Enterprise program we discuss storyboarding and building your logic “pyramid”. This is simply a specific application of the concept. Note: Barbara Minto has written a detailed methodology on building effective communication frameworks (pyramids) that I’ll describe in a future post.

 

I tend to recommend breaking your communication goals into 3-4 categories. Two things you are absolutely, always trying to get across are 1) you can do the job and 2) you are a good fit. The other categories (leadership, teamwork, etc.) will vary by firm and position and require you to do a little research.

 

Capability

·        General capability. Convince me you are a “do-er”, that you have overcome obstacles, are smart and have progressed in your activities etc.

·        Specific capabilities. This relates to the position in question. For a financial analyst job, can you describe relevant coursework or experience? Do you respond well to probes about your thought process?

·        Fundamentally, this is an “am I impressed with you?” category.

 

Fit

·        Cultural fit. Are you one of us? Do you seem to understand our culture? Are your goals aligned with what our organization can deliver?

·        Likeability. This is the “airport test”. Are you someone I want to be on a team with? Did we build rapport? It sounds like “cultural fit” but is subtly different. There may be people you really like who are a bad cultural fit and vice versa.

·        Likelihood to accept. Given the competitiveness of recruiting in many situations, recruiters have to gauge actual interest. Have you convinced me that this is really what you want?

 

Other categories

·        What other major themes do you need to hit. Decide and break down into sub messages.

 

Strategy

 

When launching into your self-description, you need to focus on a few key things.

 

·        Keep it concise. Depending on your career stage, this should be 2-5 minutes. For students, 3 minutes is a decent guideline. Also, always remember Mark Twain’s quote to the effect that he apologized for writing a long letter, but he didn’t have the time to write a short one.

 

Don’t hit on every thing you have done. BORING. Only touch on one or two key things from each position or phase of your experience that relates to your bigger themes. Part of the test is showing that you know what’s important.

 

Also, save the detail on your good examples for later. Just give the “takeaway” at this stage. You don’t want to distract from the flow of your story.

 

At a certain level, you simply need to get through it…

 

·        Tell a story. Stories have a beginning, middle and end. You need to bring the listener along with you. Develop a story “through line” that logically connects your experiences and development and leads to you sitting where you are, very much wanting the job the interviewer is evaluating you for.

 

·        Anticipate concerns.  We can often predict the gaps people see in our experience. Take time to subtly rebut them with your examples and story. Example, you are interviewing for a job requiring quantitative skills, but are a history major (I faced this). Then emphasize examples of success dealing with quantitative problems. Could be A’s in Finance or a project etc. But get out in front of it.

 

·        Ask for the job. Make clear to me from the beginning that you are excited about the position. You need to be strong on this. I see a lot of people visibly waffle and show their uncertainty. That is deadly. Your competition isn’t wavering (at least the smart ones).

 

Example (Abbreviated for space and annotated for commentary)

 

I often try to model an answer back for people. I’ll try to do a simulation here in print. Imagine me interviewing for a management consulting job coming out of MBA. I had a graduate degree in history and no direct work experience.

 

Question: “So Phil, why don’t you walk me through your resume…”

 

Answer: “Thanks so much for the opportunity to interview. I’m really excited about Ernst & Young and consulting.”

 

“I think I’ve always been interested in business and problem solving. My grandfather was a corporate senior exec and we always talked business and politics. He even gave me a subscription to Kiplinger’s when I was in middle school.” (Connecting interest to my past, explaining logic of transition from academia to business).

 

“I grew up out east, but decided to take a chance and go to school a long way from home at Rice in Houston, TX to study history. I think I was curious about how events unfolded and created our world.” (Demonstrating independence and willingness to take risks and willingness to move for opportunities)

 

“In school, I was convinced that I wanted to be a history professor. I took a heavy load in Poli Sci and History, while also holding a lot of leadership positions. Probably the most significant was being one of the founding justices of my school’s University Court. We had to figure out a lot of internal process and develop institutional credibility. I was fortunate enough to be elected Chief Justice my senior year.” (Leadership, work ethic, process orientation. Limited examples to one. More data is on resume and remains to be used for questions and probing.)

 

“I decided to pursue my PhD in History and followed that path to grad school. Along the way I realized what I liked was the debate and intellectual interaction of the classes and seminars, as well as the teaching. What I didn’t particularly enjoy was writing books and that is ultimately how you are evaluated and promoted. I also better understood the economics and determined business school was a better fit for me. “(Explains transition in terms consultant will probably understand, connects interests to consulting relevant skills like rigorous debate and explaining concepts.)

 

“Here at Carlson, I have really focused on developing more tangible experience and skills. I have taken a broad course load and done well with it. In addition, I have held internships during school at 3M in strategy, last summer at Malt-O-Meal and currently am taking the New Product Development class which requires 15-20 hours a week of my time to develop a business plan and working prototype of a piece of microprocessor test equipment for a local company. In particular, I’d note my summer internship. My boss had not had an intern before, so I was assigned a broadly defined goal and was forced to scope the project and get it done while also doing detailed market analytics on a daily basis in support of the business. It really forced me to get efficient and clear.” (Showing hard work, ability to sustain effort, ability to take on technical tasks)

 

“And now I’m looking for a management consulting job. I think it’s the most challenging and interesting opportunity out there for me. I’ve consistently sought bigger challenges wherever I’ve been and this is the best path for me. My wife and I have discussed the lifestyle and demands of the position and we are committed to the requirements. She has a demanding job that requires travel and so understands. What else I can I tell you?” (Hit on desire for job, understanding of demands and thoughtful decision that it was a good fit)

 

What did I hit on?

·        Capability: multiple examples of skills required in consulting, teaching/team work, regular engagement in extra-curricular activities, several clear examples of quant work etc. I gave them plenty to probe on while (hopefully) instilling initial confidence.

·        Fit: Likeable? I don’t know…But I hit on the rest. Lifestyle, travel and work demands are all at least partially addressed.

 

Is this perfect? Of course not, but it’s not bad. I encourage everyone to practice your story. If nothing else, it forces you to figure your story out! J

 

You also never know when you’ll need to deliver it. It may not be just in an interview. Or better stated, remember that you are ALWAYS interviewing. You never know where your next opportunity will come from.


Driving to Yes or No: Case Study

March 1, 2009

In my last post I talked about taking a more investigative approach to growth opportunity evaluation. In this one, I’ll discuss both what it looked like leading a venture using this methodology while touching on what it meant from an executive level.

 

I had to eat my own cooking when I took a position leading a “growth opportunity” at 3M. We had adopted a phased approach to allocating budget and resources to opportunities through a venture board structure (ie: limited capital allocated to competing business plans). In the “opportunity” phase, an idea received modest funding to answer high level questions. If the opportunity proved compelling, then it could progress to being a “venture” at which point it would receive higher funding for a pilot or launch year. After that a division would have to own the P&L. I think it’s a good process. Divisions compete for funding new ideas, but take it seriously because they know they will eventually have to own the financial results.

 

My experience was with a new business format opportunity based on an aftermarket car care model that quietly developed in Asia. One of the wonderful things about a diversified global business like 3M’s is that each country unit has incentives to develop innovative new business models based on local market conditions.

 

My challenge was to determine whether we could take our traditionally product based business and brand into retail “do-it for me” services. Our product line included window tint, paint protection film, waxes, polishes etc. This was clearly a global question, in part because 3M China had developed successful 3M branded service centers with partners and also because the Asian car markets were all growing so aggressively with first time, inexperienced car owners.

 

I developed my “issue tree” outlining what I thought the big questions were and also worked through a reverse P&L as well as assumptions list (see last post).  Among my major assumptions (in no particular order) were that 1) we could develop the skills and knowledge necessary to win, 2) that we could have a broad enough portfolio to be relevant to consumers, 3) that brand mattered 4) we could hit defined revenue and income targets and 5) that we had sufficient alignment globally to get it done internally.

 

I went through three phases. The first was a study phase that cost us largely my time and a little research. We easily passed the hurdle at this phase gate. I think of this type of review as passing “the laugh test”. We had executive support and they were interested in the opportunity, so this gate was more of a check in.

 

For the second phase, we needed to do much more work on business model, detailed market understanding and a risk assessment. As a part of each gate, you have to define success metrics and detailed plan and budget for the next phase. Part of my plan included Michele, the kids and I moving to Shanghai, China for an extended stay in 2006 to understand the Asian business.

 

To short cut the better part of a year’s work, here’s what I determined and why I think the process and methodology was a good one. In the end, I recommended a retrenchment of the existing opportunity in China and placing better controls on its use of brand and avoidance of the franchise law for several reasons:

 

1.      The team had been very creative and had excellent results, but the Chinese regulatory environment related to franchising changed in 2005 in ways that were disadvantageous to potential franchisors. Note that at the time KFC and McDonald’s didn’t franchise there either. They owned.

2.      Direct ownership did not seem viable to me given the speed of change in the market, our conservatism operationally and financially and our lack of direct experience in retail services. In addition, we couldn’t find a viable partner or acquisition target.

3.      The reality of company politics regarding brand and legal issues, lack of internal alignment globally and several other internal factors told me that this was not do-able for us.

 

There is a lot more detail than this, but fundamentally I didn’t see it happening for this opportunity. Here’s why I think the process worked.

 

1.      Two years prior to implementing this process I think this would have gotten potentially large funding and failed slowly and painfully. It was sexy, represented “breakthrough thinking” and “business model innovation” and all sorts of other applicable buzzwords.

2.      It could have been sold well and gone OK for a few years until it fell under its own weight. Typically, to be cleaned up by the next manager as the first one would have moved on to bigger things based on the buzz from their cool work. (No one ever really knows the financials of someone else’s business)

3.      We got to a “quality” no, based on data and as a result executives didn’t need to revisit the question. Note here that I always could make the math work. The sheer growth in China could carry very conservative assumptions to a positive financial case. I recommended not proceeding because of the work around the “softer” assumptions that were critical to success.

4.      Corporate was happy that a real effort had been made to answer key questions credibly and reliably.

5.      Another benefit of the process to the company was exposing talent to senior management in bake-offs that exposed the quality of people’s business acumen and drive. It highlighted how many “administrators” versus “leaders” there were.

 

In the end, we went forward as a business unit with a “federated” approach globally while laying out guidelines and serving as a knowledge and best practice sharing hub. Each country took its own approach within guidelines that we laid out. We didn’t try to force a uniform process or business model on each country unit and as a result, the business has continued to grow across 3M. We learned a great deal that has infused other business decisions as well, including some significant acquisitions (lesson: we needed other’s existing expertise and portfolio to be successful quickly). We were fortunate to have a leader who was pro-active in learning and then taking action.

 

The few caveats I have include:

1.      No process is a substitute for talent. A poor team will kill a great opportunity. This is a place to put your best people, not turf out your problems.

2.      It doesn’t work if opportunities aren’t protected. Nothing kills innovation or creativity like strangling it when things get tough.

 

I think this process is a good one. My only caution is to not fall so in love with a process or set of tools that you check your brain at the door.