Are you focusing on productivity or time in the office? If We Bought Twitter: things to consider when acquiring a business & Profit per X
20 November 2022 Newsletter
“The job of the leader is to grow more leaders.” – Robin Sharma
Hope you’re Thriving!
It’s been a fun week, which concluded with a 2-day annual planning session with a group of companies.
I just love that quote above, which states, “The job of a leader is to grow more leaders”. It speaks to the leader as a coach concept, and why the genius with 1,000 helpers is failing as a leader. In ten words, it says to leaders, look at the people who report to you; what are you doing to grow them?
Are you focussing on productivity, or time in the office?
This week I came across a fascinating interview from HBR with Linkedin CEO Ryan Roslansky. One of the takeaways was how Microsoft, Linkedin’s owner, has data that details the difference between how managers and employees are currently viewing hybrid work.
According to the video:
“87% of employees report that they are productive at work in a hybrid work environment right now. Yet 85% of the managers report that hybrid work employees are not being productive. It appears that managers are paranoid about working time, while the employees are focused on the results or productivity.”
The interview goes on:
“Number 1, you are very clear on what success in the role, and then number two, you must measure the outcomes of the role. Leaders must focus on outcomes and not time in the office.”
This speaks to two points, first having a role scorecard as outlined in my book Onboarded, which defines success in a role, and second is the leader as a coach – focussing on and coaching around results, and not watching the time they work.
Watch the interview here: The New World of Work: Ryan Roslansky, LinkedIn CEO
Profit per X
Last week I came across an online thread talking about Jim Collins’ Profit per X concept; the author was asking about others’ experiences as they were confused about what theirs might be.
Of course, many people chipped in with their own take, and many were far from what it could be, best practice or what it even means.
One of the easy questions to ask about profit per x is, ‘how would you double it?’
The more tactics to double your profit per x that readily come to you, the more chance you might have your profit per x.
Here’s an article from a few years ago about profit per X.
Read the article here: The 1 reason’ Profit per X’ is the ‘nub’ of your strategy
What tools do you need to use for an effective onboarding process?
First, you must document what success looks like in the role after the onboarding.
Second, you must build a plan to ensure the new hire understands how to succeed in the role.
The role scorecard should include the job purpose, responsibilities, measurable metrics and expectations of the new hire.
The onboarding sprint plan should be a detailed weekly list of agenda items over perhaps 13 weeks which incorporates all the aspects of the role scorecard.
As detailed in Onboarded, both these tools assist anyone responsible for onboarding new hires to ensure a successful fit.
For those of you who’ve bought the onboarded book, the tools from the book are now available on the Evolution Partners website.
This week on The Growth Whisperers Podcast
If We Bought Twitter: things to consider when acquiring a business
What would we do if we paid $44 USD Billion for a business that was losing 4 million dollars a day?
It’s no different than buying any business, you’re either going to let it run, or extract and create more value through a turnaround.
This week, we talk about what we would do if we bought Twitter, and what you should consider if you’re buying a business.
Listen to The Growth Whisperers
Or watch it on YouTube
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