Patrimony Edge

The strategic value implementer.

Changes you would make to refine your masterpiece

Imagine your finest work — be it physical, digital. How would it look like if you had to refine it again to be better? How much further value could be added to it? In what areas would the improvement be realised?

I think it is very intriguing question for at least two reasons: first, it shows where your areas of improvement lie when it comes to pushing your boundaries and second, it helps you to wonder a bit about the area for improvement. What could be the reason you did not pay attention to it? Is it really important or not? It’s an opportunity for self-reflection from a different experience.

My personal experience was very interesting. I managed to deliver a rather comprehensive competitors’ analysis as part of a large-scale strategy formulation project. The founder of this family company could not attend; the new generation could and formally this was fine because they are in charge of the company on a daily basis. However, the founder was still very much interested and I offered to share the insights with him, too.

My first thought was that I should explain it, because it might be a bit too complex to understand at first. I was struck by this thought as it meant that I was not good enough by my own standards at explaining things on the slide. And for me, this is not a one-off occasion, this is the kind of recurring error that I tend to make. The ideas, the design elements are compelling but the messaging is difficult to follow at times.

For me the key learning was to make extra effort in telling the story in an easier-to-understand format. There you are, an area for improvement.

Do you have similar stories to share?

The power of iterations

Problem? Solution. What is between the two? Thinking.

There is a problem. I think it through. I provide a solution.

That sounds easy, but let’s bring in more complications.

If there is a problem, I will evaluate what kind of problem that is. How much impact can the solution have? How important it is to solve it the best possible way?

Do I have enough competence to solve this problem? What will my solution look like if I am not an expert? And the solution — how do I know if it is the best solution? What is best? Fast enough? Good enough?

What if these decisions take place in a fast-pace environment? Speed is of the essence, of course, but what can I do to make it good enough?

Can I make corrections along the way? As the solution is implemented there might be feedback of the shortcomings and then I could have more iterations, and come up with better and better solutions. I initially didn’t know or understand all the nuances of the problem, but now I have a better view. How far did we get?

The power lies in recognising what is the dynamics between the problem and solution, and also the context. There are occasions when it is not just necessary but you must focus for a lengthier amount of time on the best possible solution within a given timeframe. There are other times when it is rewarding to be quick and test your solution. And yet there are other problems for which quickly pulling in an expert and making a decision is more worthwhile than you deciding.

Ultimately, everything is a return on investment. Time and effort are costs, too. Make decisions accordingly a priori to making decisions.

The Danger of Excellent Hard-Skills

Doing sophisticated, meticulously executed analyses with ground-breaking ideas. That is what clients need from consultants, right? This requires hard-core cerebral skillsets. I argue that overdosing these hard-skills by just focusing on these can be dangerous.

Why would anybody bother? You’re convinced just because the ultimate decision-maker decided to pay you for your skills it does not mean that you are just expected to give great recommendations. In order to be successful you must come up with recommendations that are excellent AND is executed. An implemented strategic advice drives ROI, not the sheer idea.

It means that you have to understand the organisation well enough on the cultural as well as on the political side to have your recommendation accepted and implemented. This requires soft-skills and these are vastly underestimated by outsiders. If you can combine excellent suggestions with superb soft-skills, it can make a difference for your project and for your clients’ bottom line, too.