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2 episodes with ranjay gulati
2 episodes with ranjay gulati
2 episodes with ranjay gulati
2 episodes with ranjay gulati
2 episodes with ranjay gulati
2 episodes with ranjay gulati
2 episodes with ranjay gulati
2 episodes with ranjay gulati
2 episodes with ranjay gulati
In this episode of the Leadership Podcast, Sylvain engages with Bernie, an expert in management and leadership, who holds the Drucker Chair in Management and Liberal Arts at the Drucker School in Claremont, California. Bernie discusses his book, "Creating the Organization of the Future," which integrates the teachings of Peter Drucker and Confucius. The conversation centers on essential organizational choices regarding mission, vision, purpose, values, and culture, emphasizing the need for adaptability and alignment. Benny highlights the importance of making clear choices, time management, calmness in leadership, and the ability to learn and adapt in a rapidly changing market environment.Show notes:Book “The Innovator's Dilemma: When New Technologies Cause Great Firms to Fail” by Clayton M. ChristensenZappos Culture bookBook “Creating the Organization of the Future: Building on Drucker and Confucius Foundations” by Bernard Jaworski and Virginia CheungBook “The Concept of the Corporation” by Peter DruckerBook “Deep Purpose” by Ranjay GulatiLeadership Spark Podcast with Ranjay Gulati on his book “Deep Purpose”Book “The Effective Executive” by Peter Druckersylvainnewton.com/podcast
“In this episode of the Leadership Spark podcast, host Sylvain Newton interviews Ranjay Gulati, a Harvard Business School professor and author of "Deep Purpose." They explore the concept of purpose in business and leadership, emphasizing its role in creating alignment, motivation, and trust within organizations. Ranjay shares personal stories and examples from companies like Lego, Microsoft, Apple and Mahindra to illustrate the integration of purpose into corporate culture and strategy. The discussion also covers the connection between company and individual purpose, the evolving expectations of businesses, and the qualities of effective leaders.” Show notes:Ranjay Gulati's website and his book "Deep Purpose“Ranjay's “Deep Purpose” podcastHBR articles by Ranjay Gulati:The Messy but Essential Pursuit of PurposeStructure That's Not StiflingWhy Today's Startups Pursue Both Ideas and IdealsThe Soul of a Start-UpThe Bhagavad Gitasylvainnewton.com/podcast
So, you've successfully scaled your start-up and you're growing into a mature company. What, if anything, should you retain from those early days? Harvard Business School professor Ranjay Gulati says the most successful organizations have one thing in common: a soul. “Soul” goes beyond culture, purpose, or even the founder. It's about having three things: strategic business intent, a strong connection to customers, and a stellar employee experience. Gulati argues that if you don't preserve these elements as you scale, you'll lose what makes your company special. In this episode, he explains how to define the specific problem your company solves, with plenty of real-world examples from Netflix, Apple, and Warby Parker. You'll also learn how to bring the voice of customers into your organization and ensure that your employees feel connected to them. Key episode topics include: strategy, entrepreneurship, organizational culture, start-up, scaling. HBR On Strategy curates the best case studies and conversations with the world's top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the full HBR IdeaCast episode: Finding (and Keeping) Your Company's Soul (2019)· Find more episodes of HBR IdeaCast· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org]]>
Etsy, the online seller of handmade and vintage goods, was founded as an alternative to mass-manufactured products. The company grew substantially in its first decade but remained unprofitable. When Etsy went public, stakeholders demanded a new level of financial returns and accountability. But the company continued to struggle to contain costs—until a new CEO arrived with a plan for a purpose-driven turnaround. In this episode, Harvard Business School professor Ranjay Gulati discusses his case, “Etsy: Crafting a Turnaround to Save the Business and Its Soul,” which explores how CEO Josh Silverman made Etsy profitable by rediscovering the company's commitment to social and environmental sustainability. Gulati discusses the difficult choices Silverman made in the early days of his tenure, like laying off employees for the first time ever at Etsy, and how he worked to regain trust with employees. He also explains why Silverman prioritized improving the user experience for buyers on Etsy's website. Gulati is the author of the book Deep Purpose: The Heart and Soul of High-Performance Companies. Key episode topics include: leadership, change management, organizational culture, organizational transformation, strategy, retail and consumer goods, online retail, purpose, sustainability. HBR On Leadership curates the best case studies and conversations with the world's top business and management experts, to help you unlock the best in those around you. New episodes every week. · Listen to the original Cold Call episode: How Etsy Found Its Purpose and Crafted a Turnaround (2022)· Find more episodes of Cold Call· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org]]>
In this episode of The Unmistakable Creative, Srini Rao interviews Ranjay Gulati, author of "Deep Purpose: The Heart and Soul of High Performance Companies." They discuss the importance of purpose in organizations and how it can drive success. Gulati shares insights from his research on purpose-driven companies and offers practical advice for leaders looking to connect organizational purpose with individual purpose. He also explores the balance between purpose and profit and the role of purpose in navigating complex trade-offs. This episode provides valuable insights for leaders and individuals seeking to find meaning and drive high performance in their work. Subscribe for ad-free interviews and bonus episodes https://plus.acast.com/s/the-unmistakable-creative-podcast. Hosted on Acast. See acast.com/privacy for more information.
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Welcome to an interview with the author of Deep Purpose: The Heart and Soul of High-Performance Companies, Ranjay Gulati. In his book, Ranjay reveals the fatal mistakes leaders unwittingly make when attempting to implement a reason for being. Moreover, he shows how companies can embed purpose much more deeply than they currently do, delivering impressive performance benefits that reward customers, suppliers, employees, shareholders, and communities alike. To get purpose right, leaders must fundamentally change not only how they execute it but also how they conceive of and relate to it. Ranjay Gulati is the Paul R. Lawrence MBA Class of 1942 Professor and the former Unit Head of the Organizational Behavior Unit at Harvard Business School. Until recently, he chaired the Advanced Management Program, the flagship senior leader executive program, at the school. Professor Gulati has been ranked as one of the top ten most-cited academics in the fields of economics and business by ISI-Incite and has received similar recognition from The Economist, Financial Times, and the Economist Intelligence Unit. Professor Gulati studies how “resilient” organizations—those that prosper both in good times and bad—drive growth and profitability. His work bridges strategy (establishing clear strategic pillars for growth), organizational design (reimagining purposeful and collaborative organizational systems), and leadership (fostering inspired, courageous, and caring execution). Get Ranjay's book here: https://rb.gy/31r53k Deep Purpose: The Heart and Soul of High-Performance Companies Here are some free gifts for you: Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo
Welcome to Strategy Skills episode 413, an interview with the author of Deep Purpose: The Heart and Soul of High-Performance Companies, Ranjay Gulati. In his book, Ranjay reveals the fatal mistakes leaders unwittingly make when attempting to implement a reason for being. Moreover, he shows how companies can embed purpose much more deeply than they currently do, delivering impressive performance benefits that reward customers, suppliers, employees, shareholders, and communities alike. To get purpose right, leaders must fundamentally change not only how they execute it but also how they conceive of and relate to it. Ranjay Gulati is the Paul R. Lawrence MBA Class of 1942 Professor and the former Unit Head of the Organizational Behavior Unit at Harvard Business School. Until recently, he chaired the Advanced Management Program, the flagship senior leader executive program, at the school. Professor Gulati has been ranked as one of the top ten most-cited academics in the fields of economics and business by ISI-Incite and has received similar recognition from The Economist, Financial Times, and the Economist Intelligence Unit. Professor Gulati studies how “resilient” organizations—those that prosper both in good times and bad—drive growth and profitability. His work bridges strategy (establishing clear strategic pillars for growth), organizational design (reimagining purposeful and collaborative organizational systems), and leadership (fostering inspired, courageous, and caring execution). Get Ranjay's book here: https://rb.gy/31r53k Deep Purpose: The Heart and Soul of High-Performance Companies Here are some free gifts for you: Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo
Why do you show up to work? Why do you do things you're expected to do at work? The biggest factor of organizational success is determined by how embedded the company's deep purpose is in its employees. Today's guest is Ranjay Gulati. He is the author of the book Deep Purpose: The Heart and Soul of High-Performance Companies, an educator and researcher who is passionate about how to unlock organizational and individual potential.Ranjay and I talk about purpose: what organizational purpose is, how powerful it is, how to connect individual purpose to the organization, and the impact it has when employees consider work not a chore but a calling.Join the conversation now!Get FREE mini-sketchnotes with the big idea from the week's episode delivered to your inbox when you subscribe to my weekly email.SPECIAL OFFER: Join the Skills Accelerator before 11:59 pm Eastern 12/31/31 and get your first month for $50 and lock in the 2023 pricing!Conversation Topics(00:00) Intro(01:18) What is a company purpose, and why do organizations need to have one?(02:34) The power of the why question(04:28) How purpose needs to be translated into the organization(07:16) The redemption of Etsy(10:05) What managers can do at all levels to start creating purpose in their own teams(14:51) How managers can help their team members discover what they do matters(17:38 How to start a conversation with your team on deep purpose(20:55) The importance of an organization having a clear, deep purpose(22:49) A great manager Ranjay has worked with(24:15) Keep up with Ranjay(25:51) [Extended Episode Only] What does a good mission statement look like?(26:28) [Extended Episode Only] Example of a well-crafted team mission statement(27:08) [Extended Episode Only] How to craft a compelling team mission or purpose statementAdditional Resources:- Get the extended episode by Joining The Modern Manager Podcast+ Community for just $15 per month- Read the full transcript here- Read the related blog article here- Follow me on Instagram here - Visit my website for more hereKeep up with Ranjay- Follow Ranjay on LinkedIn here- Get a copy of Deep Purpose hereGet guest bonuses and many other member benefits when you join The Modern Manager Podcast+ Community.---------------------The Modern Manager is a leadership podcast for rockstar managers who want to create a working environment where people thrive, and great work gets done.Follow The Modern Manager on your favorite podcast platform so you won't miss an episode!
For Ranjay Gulati, the pursuit of profits without purpose is no longer a sustainable business model.But taking purpose beyond a statement and embedding it into teams takes work - and it starts with yourself as a leader.In this episode of Positive Leadership podcast, JP speaks to the Harvard Business School professor dedicated to unlocking purpose at work.
Richard Haykel is the Chairman of Haykel Hospital S.A.L. in Tripoli, Lebanon and Executive Director of CARA Ventures, LLC. Richie has a Bachelor of Arts in Economics from Tufts University, a Master's of Hospital and Health Care Administration and Management from the University of Paris Cite. He is also a Harvard Business School Executive Program graduate and OPM 49. Richie is a member of the Young President's Organization (YPO) and is home based in Tripoli, Lebanon. Show Notes: Lebanon has always been at the crossroads between East and West. "It plays a role much bigger than its geography." A $6 tax for What's App launched the Oct 2019 revolution. (11:30) The financial system collapse has led to 80% of the population in poverty, runs on banks, life savings wiped out for many. Prior to this, the poverty rate was around 20%. Overnight, a majority of the population was plunged into poverty. (20:00) "Morally, we needed to walk the talk with our kids." We came back to make a difference! "Everything rises and falls on leadership." - John Maxwell (22:45) What are the warning signs that this could be coming to your country? (30:00) Why are we starting to see a reverse migration from America? (31:00) Why are tenured professors at Columbia and Princeton afraid of losing their job? (37:00) There is no dollar alternative at the moment. (46:00) Bitcoin, crypto winter, FTX collapse and the future of cryptocurrencies...and real estate? (49:00) How did the pandemic impact the middle east and Lebanon? Lebanon has the ability to adapt. (54:00) How does Hezbollah impact everything in Lebanon today? (56:00) What is the impact of Saudi Arabia and MBS in the middle east? (1:04:00) The pivot to Asia has destroyed the trust of the United States in the middle east. (1:18:00) Why do you invest so much in advanced education and continued education later in your career? (1:24:00) Book Recommendations - Outliers by Malcolm Gladwell, Deep Purpose by Ranjay Gulati, Glass Half Broken by Boris Groysberg Podcast "After Hours" (1:30:00) Leadership insights while leading during a crisis. (1:34:00) What would Richie say to the American people if he was asked to give a State of the Union address?
What makes someone a great HR leader? Why is it important that the CEO's agenda be HR's agenda?My guests on this episode is Matt Breitfelder, Head of Human Capital and Partner at Apollo Global ManagementDuring our conversation Matt and I discuss:Why he believes the CEO's agenda should also be HR's agendaThe three things that define all successful CHROsWhy you should be co-creating your culture with your employees input and how to do itWhat he learned about coaching and the importance of psychological safety from Pete Carroll, the Seattle Seahawks coachWhy caring, clarity, and challenge are the keys to being a great coachResources mentioned in this episode:Pete Carroll: Building A Winning Organization through Purpose, Caring, and Inclusion by by Ranjay Gulati, Matthew D. Breitfelder, Monte BurkeWhy Did We Ever Go Into HR: Harvard Business Review article by Matthew D. Breitfelder and Daisy DowlingGood to Great: Why some companies make the leap and others don't by Jim Collins
The way many people now work post pandemic is almost unrecognisable compared to how this looked before, raising the question of whether formal employment contracts have had their day. Academics Peter Cappelli and Ranjay Gulati explore what it might mean for the future of organisational culture and employee loyalty if we all essentially became contractors. Hosted on Acast. See acast.com/privacy for more information.
What is your company's purpose? And how can you protect it, even as you grow? Harvard Business School professor Ranjay Gulati, who also hosts the podcast Deep Purpose, explains.
Why does your team exist? What is the deeper purpose behind the list of tasks you accomplish each day? Without a clear, defined purpose, teams will lack inspiration and focus. This can lead to team members feeling unmotivated, reducing productivity and morale. Furthermore, how can you set goals and develop strategies to achieve them when you don’t have a vision for your work? Today’s guest is Ranjay Gulati. He is the author of the book Deep Purpose: The Heart and Soul of High-Performance Companies. As an educator and researcher, he is passionate about how to unlock organizational and individual potential. Ranjay and I talk about Purpose. What organizational purpose is and isn’t, why it's so powerful when done right, how to connect individual purpose to the organization and the magic that happens when you go from satisfied employees to truly inspired ones. Members of the Modern Manager community get a chance to win 1 of 3 free copies of Ranjay’s book, Deep Purpose: The Heart and Soul of High-Performance Companies. A revolutionary approach to business exists, one that delivers game-changing results for companies of all sizes: the serious and deep pursuit of purpose. This book shows the possibility of embedding purpose as a radically new operating system for your business. Get it when you join the Modern Manager community. Subscribe to my newsletter to get episodes, articles and free mini-guides delivered to your inbox. Read the related blog article: What It Really Means To Have a Company Purpose KEEP UP WITH RANJAY Website: Deeppurpose.net LinkedIn: linkedin.com/in/ranjay-gulati Key Takeaways: A purpose is an intention to accomplish something meaningful to the self that has consequences for the world beyond the self. While the idea of individual purpose has been around for thousands of years, company purpose is a relatively new concept. A company purpose is the “why” behind your mission statement: why you exist, who you’re impacting, and the strategy to accomplish it. A deep company purpose trickles down to all areas of the office, including strategies, resource allocation, hiring and promotion, DEI, and measuring success. Purpose is not “charity”, but a long term value that should include profitability. Make sure all your stakeholders benefit from your purpose.
Sean Murray is the President and CEO of Advocate Printing and Publishing in Nova Scotia, Canada. Established in 1891 Sean highlights his family's journey and how his grandfather and father worked in, bought, and led this iconic Canadian business that has become a family business over time. Sean is in the Atlantic CEO Hall of Fame, was celebrated as one of Canada's 40 under 40 business leaders, and received the Queen's Golden Jubilee Medal. He graduated from Pictou Academy, St. Mary's University, and the Harvard Business School Executive Program. He is the Chair of the Young President's Organization (YPO) Atlantic Canada and is the Director of YPO Canada.Show Notes: The importance of being a lifelong learner in your career. How have print, distribution, fulfillment, and media changed over the years? Advocate was established in 1891 with the oldest company founded in 1865. The importance of succession planning in business but especially family businesses. (24:30) How did Sean pivot his business over time due to changes and technology in the global economy? "We put the client's success before our own success." (33:00) Why data is digital oil for the new economy. Favorite Case at HBS? Francis Frei and focusing on customer delight. What are you choosing to be good at? What are you choosing to be bad at? You can't be everything to everyone! (36:00) What is the art of the possible? Borris Groysberg and building teams and culture. (40:00) "The Great Resignation" moved to "Quit Quitting," and now we are moving to the "Great Re-Imagining" as people rethink how they want to live life going forward. "We are moving from work-life balance to life-work balance." "As soon as people start making more we learned they want to work less." People want to be rewarded with free time not more overtime or increased salary. What people want is changing all around us. (45:00) We are seeing on-shoring or re-shoring back to North America. This will have profound changes in our economy. (52:00) "When in doubt, focus on incentives!" - Charlie MungerFlexibility today matters more than financial incentives. (55:00) Ranjay Gulati's book - Deep Purpose - The Heart and Soul of High-Performance Companies (58:00) "We optimized for efficiency but not purpose and meaning!" (59:00) Is "Maslow's Hierarchy of Needs" changing today? Do we need to reimagine this for a new global economy of an enlightened and empowered population? "Careers may be in 3-year increments today instead of 20-year increments as in the past!" (1:05:00) Advice for young people. Its all about soft skills and building your network. How are you making sure you are relevant in the conversation? How are you adding value? Don't focus on just doing tasks. Those will be automated away!"Learn how to be an entrepreneur and intrapreneur! If you learn these skill sets, you will be extremely valuable!" (1:09:00) "How do we change a ME economy to a WE economy?" What has Sean learned are key attributes of being a good entrepreneur? You have to have passion, vision, and purpose! What is your risk appetite? Are you willing to be "all in" and risk it all to succeed? "Through failure comes learning." It's not all about you! You have to build a team. You have to have mentors and advisors. This will help you be successful and help you have a work-life balance. Book Recommendations: Deep Purpose - The Heart and Soul of High-Performance Companies Everything is Possible - Serhii Rudenko Build, Borrow, Buy - Laurence Capron Zero to One - Peter Thiel Uncommon Service - Francis Frei (1:24:00) - What would Sean say if he had the opportunity to give a State of the Union address to the Canadian people?
Episode SummaryRanjay Gulati is a Professor at Harvard Business School, the best-selling author of Deep Purpose and the host of the Deep Purpose Podcast. Today, Ranjay joins the show to discuss purpose, intention, and the importance of studying problems that are important to the world. Ranjay shares his evolution as an author, his growth as a podcast interviewer and how he learned to genuinely listen.Episode SponsorFocusrite – http://pcjk.es/vocasterFullCast – https://fullcast.co/Key Takeaways06:26 – Ranjay Gulati joins the show to reflect on his time at Harvard Business School, paying it forward, and the responsibility to educate leaders to make a difference in the world14:49 – Purpose and how Ranjay's upbringing impacted his journey18:55 – The inspiration to write Deep Purpose and Ranjay's evolution as an author24:02 – Why Ranjay got involved in podcasting28:07 – The pre-production process of Ranjay's podcast and how he has grown as an interviewer32:31 – How Ranjay defines success and what the future holds for him and his family37:10 – Something Ranjay has changed his mind about recently and the most misunderstood thing about him38:05 – Harry thanks Ranjay for joining the show and lets listeners know where they can go to connect with him and learn more about Deep PurposeTweetable Quotes“I think it was a series of mishaps, accidents, curiosity and really serendipity that landed me where I am.” (07:51) (Ranjay)“Our mission at Harvard Business School is to educate leaders to make a difference in the world. Of course every organization has a purpose, but we actually believe it. We really believe that we are privileged with the position and the resources made available to us and that with that privilege comes responsibilities. And our responsibility is to educate leaders to make a difference in the world. And it's something that we take very seriously.” (10:38) (Ranjay)“My world and how I grew up is a very important part of who I am. I learned about business from watching my mother. My mother was building a business while I was a kid. I got to watch from my living room - where she ran the business from - how a business gets started.” (17:58) (Ranjay)“I was very fortunate to have amazing sets of advisors for my doctoral research. My one advisor shared his idea that you have to study important problems. And ‘important' means important to the world. So, find what's important in the world today.” (20:44) (Ranjay)“I had to learn how to listen. I needed to learn how to ask probing questions. I needed to learn how to not interrupt. And I needed to genuinely listen. We listen, sometimes, to react. When I do that, I'm not really listening. I'm formulating the next question or the comment I want to make. Only when you genuinely listen can you get the other person to open up.” (29:22) (Ranjay)“When you bring purpose or intention into your life, you can't help but share it with others as well. But you can't preach to others. I think everybody has to be ready and at the right stage in their life.” (36:33) (Ranjay)Resources MentionedRanjay's LinkedIn – https://www.linkedin.com/in/ranjay-gulati/Ranjay's Website – https://deeppurpose.net/Ranjay's Book –
We have moved! Click here Think People Podcast on Apple Podcasts or Search 'Think People Podcast' You can now hear Business Psychologist Michael Costello & this episode on EY's Think People Podcast! Search 'Think People Podcast' to hear the latest episode EY's Think People Podcast's mission is to democratise leadership for everyone by amplifying the voices of leading experts in their field. EY Lane4 Business Psychologist, Michael Costello meets inspirational guests who share their expertise on creating high performing environments & innovative new ways in which to reach your potential as a leader. Episode One: Ranjay Gulati on Deep Purpose Culture Episode Two: Markus Buckingham - Love + Work Episode Three: Prof Damian Hughes - High Performance & Competitive Cultures You can also follow up on Linkedin here: https://www.linkedin.com/posts/eylane4_podcast-hr-purpose-activity-7020645868374499328-bUZU?utm_source=share&utm_medium=member_desktop --- Send in a voice message: https://podcasters.spotify.com/pod/show/jointheevolution/message
Forbes, Best Business Books of 2022 The Next Big Idea Club, Best Leadership Books of 2022 Thinkers50 Top 10 Best New Management Books for 2022 A distinguished Harvard Business School professor offers a compelling reassessment and defense of purpose as a management ethos, documenting the vast performance gains and social benefits that become possible when firms manage to get purpose right. Few business topics have aroused more skepticism in recent years than the notion of corporate purpose, and for good reason. Too many companies deploy purpose, or a reason for being, as a promotional vehicle to make themselves feel virtuous and to look good to the outside world. Some have only foggy ideas about what purpose is and conflate it with strategy and other concepts like “mission,” “vision,” and “values.” Even well-intentioned leaders don't understand purpose's full potential and engage half-heartedly and superficially with it. Outsiders spot this and become cynical about companies and the broader capitalist endeavor. Having conducted extensive field research, Ranjay Gulati reveals the fatal mistakes leaders unwittingly make when attempting to implement a reason for being. Moreover, he shows how companies can embed purpose much more deeply than they currently do, delivering impressive performance benefits that reward customers, suppliers, employees, shareholders, and communities alike. To get purpose right, leaders must fundamentally change not only how they execute it but also how they conceive of and relate to it. They must practice what Gulati calls deep purpose, furthering each organization's reason for being more intensely, thoughtfully, and comprehensively than ever before. In this authoritative, accessible, and inspiring guide, Gulati takes readers inside some of the world's most purposeful companies to understand the secrets to their successes. He explores how leaders can pursue purpose more deeply by navigating the inevitable tradeoffs more deliberately and effectively to balance between short- and long-term value; building purpose more systematically into every key organizational function to mobilize stakeholders and enhance performance; updating organizations to foster more autonomy and collaboration, which in turn allow individual employees to work more purposefully; using powerful storytelling to communicate a reason for being, arousing emotions and building a community of inspired and committed stakeholders; and building cultures that don't merely support purpose, but also allow employees to link the corporate purpose to their own personal reasons for being. As Gulati argues, a deeper engagement with purpose holds the key not merely to the well-being of individual companies but also to humanity's future. With capitalism under siege and relatively low levels of trust in business, purpose can serve as a radically new operating system for the enterprise, enhancing performance while also delivering meaningful benefits to society. It's the kind of inspired thinking that businesses—and the rest of us—urgently need.
It's always nice when an old friend gets into podcasting. We recently had Eli Lake on, he's now the host of the fantastic The Re-Education with Eli Lake, and now I get to have on an old FUTUREPROOF favorite who's now hosting a brand new podcast by the Harvard Business School. The debut season of Deep Purpose features captivating conversations between host Ranjay Gulati and top global CEOs, such as Unilever CEO Alan Jope and Walgreen-Boots Alliance CEO Rosalind Brewer, about their personal paths to finding purpose and how those journeys benefited their businesses and beyond.We talk to Ranjay about what purpose actually means, whether or not the successful companies of tomorrow truly will be driven by purpose, and whether or not being purpose driven can make a leader better able to stick to their "north star."
“How courageous leaders unlock potential”Ranjay Gulati is an author, podcaster and Harvard Business School's Paul R. Lawrence MBA Class of 1942 Professor. He is often cited on matters of economics and business and has been studying resilience within organisations in order to understand how organisations grow and prosper under both good and bad circumstances. Professor Gulati's podcast Deep Purpose is an extension of his work, published earlier in a book with the same title. Deep Purpose examines how business leaders "unlock" the potential of their organisations and people. At quick glance, Deep Purpose seems like business podcast and in this sense is one of the first to be featured on MetaPod. However, this is actually a podcast about people. and you don't need to be interested in “business” as you might ordinarily think of it to enjoy the podcast. Ranjay speaks to business leaders from across the globe about how they integrate purpose into their work, communities, personal lives and well being. Through inquisitive conversation, Ranjay is able to get CEOs to reveal their personal thoughts and feelings about their organisations, work, challenges and successes.MetaPod episode recommendation for Deep Purpose:Unilever CEO Alan Jope Maintains a Long History of Doing GoodIn this episode of MetaPod Wendy enquires with Ranjay about the risks and challenges related to "going deep" on a purpose as a company. They discuss some of the cultural challenges companies have related to pursuing social "good" and also consider consumer expectations around corporate social responsibility.Follow MetaPod >>Twitter | Instagram | Facebook
On this episode of Leading from Purpose Podcast, Nick is joined by best-selling author of Deep Purpose, Ranjay Gulati. A Harvard Business School professor whose pursuit was to strategize how to unlock growth for companies in good times and in bad until he discovered that the ultimate unlock of performance in a business on all dimensions is purpose. Ranjay has studied the likes of Facebook, Best Buy, Etsy, Buhler, The LEGO Group and more to understand the business value of having a purpose to create a moral community versus a purpose statement for profit. Listen in for how Ranjay defines purpose in a way that resonates with individuals and organizations and unveils the true challenge most people have with purpose – focusing on the self AND the consequences for the world. Leaders have choices to make every day – how much do I give shareholders? How much do I give customers in terms of pricing? How much do I give employees? The community? The planet? It's one thing to create value. It another thing to capture it and then have to decide how to divvy it up. Having a Deep Purpose, gives you a guiding light or framework in which you can think about the inevitable tradeoffs that will ultimately determine the trajectory of your organization.Find out the 4 business benefits of purpose and how to make it count.
Ranjay Gulati is a Professor at Harvard Business School, author of the book "Deep Purpose" and host of the podcast "Deep Purpose". In this conversation, we discuss everything around finding purpose for your business. A company's shared purpose leads to creating resilient organizations, recruiting the best talent, and amassing larger corporate profits. ======================= Valour (formerly DeFi Technologies) represents what's next in the digital economy -- providing simplified, trusted access to crypto, decentralized finance and Web 3.0 investment opportunities. Institutions and investors can gain diversified, secure, compliant, and easily tradable access to a diversified set of industry-leading equity products and protocols, through a single stock purchase on a regulated exchange. Currently listed on U.S. (OTC: DEFTF) and Canadian (NEO:DEFI) exchanges. For more information or to subscribe to receive company updates and financial information, visit our website at valour.com ======================= The number one name in NFT domains and the world's most powerful wallet are teaming up to bring something new to the crypto and Web3 world: Either sign up for a free blockchain.wallet or visit Unstoppabledomains.com to buy your domain today. ======================= Compass Mining is the world's first online marketplace for bitcoin mining hardware and hosting. Compass was founded with the goal of making it easy for everyone to mine bitcoin. Visit https://compassmining.io/ to start mining bitcoin today! ======================= Exodus is leading the world out of the traditional financial system by building beautiful and user-friendly blockchain products. With its focus on design and user experience, Exodus has become one of the most popular and loved cryptocurrency apps. It's supported on both desktop and mobile, allowing you to sync your wallet across multiple devices so you can have access to your funds anywhere. You can instantly exchange around 100 different cryptocurrencies straight from your wallet. Interactive charts let you view an asset's price history and your portfolio's performance over time. And maybe the best part, Exodus is integrated with the Trezor hardware wallet - making advanced security easy for everyone. Visit exodus.com/pomp for your free download or search Exodus on the App Store or Playstore. ======================= If you're trying to grow and preserve your crypto-wealth, optimizing your taxes is just as lucrative as trying to find the next hidden gem.Alto IRA can help you invest in crypto in tax-advantaged ways to help you preserve your hard earned money. So, ready to take your investments to the next level? Diversify like the pros and trade without tax headaches. Open an Alto CryptoIRA to invest in crypto tax-free. Just go to https://altoira.com/pomp ======================= Amberdata provides the critical data infrastructure enabling financial institutions to participate in the digital asset class. We deliver comprehensive data and insights into blockchain networks, crypto markets, and decentralized finance. Download our Digital Asset Data Guide at https://www.amberdata.io/pomp =======================
Deep Purpose is a series of captivating conversations with Harvard Business School Professor Ranjay Gulati and top global CEOs about how courageous leaders unlock potential, proving that vast performance gains–and vital social benefits–are the payoffs when firms get purpose right.
Strong words from Federal Reserve chairman Powell sent stocks down on Friday. (0:30) Jason Moser and Emily Flippen discuss: - Why long-term investors should not be surprised by Powell's comments - Snowflake's strong week - Zoom Video shares falling to a 2-year low - Ulta Beauty's strong 2nd-quarter sending shares close to an all-time high - Amazon making headlines for what it is NOT planning to do - The latest from Peloton, Electronic Arts, Nvidia, Salesforce, and Intuit (19:45) Maria Gallagher talks with Harvard Business School professor Ranjay Gulati about key insights from his book, Deep Purpose: The Heart and Soul of High-Performance Companies. (29:45) Emily and Jason answer listener questions about Quidelortho Corp. and Berkshire-Hathaway, and share two stocks on their radar: Doximity and Autodesk Our annual investing conference is free for Motley Fool members! For more details go to http://Fool.com/FoolFest. Stocks discussed on the show: SNOW, ZM, PTON, ULTA, AMZN, EA, NVDA, CRM, INTU, ETSY, QDEL, BRK.A, BRK.B, ADSK, DOCS Host: Chris Hill Guests: Emily Flippen, Jason Moser, Maria Gallagher, Ranjay Gulati Producer: Ricky Mulvey Engineer: Dan Boyd
In this episode, Dan Parisi, Executive Vice President, and Darsh Shrestha, Principal and Vice President, share tactics, principles, and mindsets for individuals to implement during uncertain times, so that their organizations emerge from economic downturns better positioned than ever before. Show notes Read the article that Dan mentions, "Roaring Out of Recession," by Ranjay Gulati, Nitin Nohria, and Franz Wohlgezogen, here. Check out a related article, "How to Survive a Recession and Thrive Afterward," by Walter Frick, here. Learn more about our Strategy Execution and Business Alignment services here. For a transcript, please click here.
Join co-hosts Jean Gomes and Scott Allender as they close season 4 of the Evolving Leader podcast by sharing some of our favourite moments from the 20 incredible episodes as well as previously unheard bonus material from the Evolving Leader vulnerability interviews.The Evolving Leader podcast will return in September for the start of season 5, but in the meantime sit back and listen to conversations with Caroline Williams, Oliver Burkeman, Steve Fleming, Amy Herman, Susan Neiman, Ranjay Gulati, Dan Toma, Rob Cross, Annie Murphy Paul, Simon Roberts, Tony O'Driscoll, Azeem Ahzar, Rita McGrath and Todd Kashdan. 0.00 Introduction1.01 Caroline Williams3.52 Oliver Burkeman9.12 Vulnerability interview: What's the biggest lie you've told at work?11.14 Vulnerability interview: What personal development topic do you most avoid confronting?13.09 Steve Fleming15.36 Amy Herman18.15 Susan Neiman21.45 Vulnerability interview: Where do you feel most vulnerable in your work?26.34 Ranjay GulatiSocial: Instagram @evolvingleader LinkedIn The Evolving Leader Podcast Twitter @Evolving_Leader The Evolving Leader is researched, written and presented by Jean Gomes and Scott Allender with production by Phil Kerby. It is an Outside production.
This week, Maanda and Nqobile unpack 'Deep Purpose: The Heart and Soul of High-Performance Companies' by Ranjay Gulati. They look at how purpose is a powerful driver of culture, providing a framework for consistent decision-making throughout an organisation, which ultimately helps sustain long-term financial returns for the company's shareholders. SuperLead · Hollard Life Solutions
This week, Maanda and Nqobile unpack 'Deep Purpose: The Heart and Soul of High-Performance Companies' by Ranjay Gulati. They look at how purpose is a powerful driver of culture, providing a framework for consistent decision-making throughout an organisation, which ultimately helps sustain long-term financial returns for the company's shareholders. SuperLead
Harvard Business School professor and author Ranjay Gulati says that sentiment is growing among business leaders that companies have a larger role to play than simply providing shareholder value. This episode is a rebroadcast of Gulati's appearance on the FM podcast to discuss that topic and others highlighted in his recent book, Deep Purpose: The Heart and Soul of High-Performance Companies.
In the conclusion of Kathleen's conversation with Harvard Business School Professor, Ranjay Gulati, the author of Deep Purpose, Ranjay shares what leaders need to ask themselves when it comes to attracting the RIGHT talent.
Kathleen welcomes Ranjay Gulati to Dare to Care in the Workplace. Ranjay is a Harvard Business School Professor and the author of six best-selling books on the subject of strategy, organizational effectiveness, and leadership in organizations. His latest book, Deep Purpose: The Heart and Soul of High-Performance Companies, is available now. In part one, Ranjay talks about why 'purpose' is good for business and why we should cut everybody (including leaders) a break.
Ranjay Gulati is the Paul R. Lawrence MBA Class of 1942 Professor of Business Administration and the former unit head of the Organizational Behavior Unit at Harvard Business School. He is an expert on leadership in turbulent times, having studied and written about the topic for the past twenty-five years. Gulati's latest book, Deep Purpose: The Heart and Soul of High-Performance Companies, shows how companies can embed purpose much more deeply than they currently do, delivering impressive performance benefits that reward customers, suppliers, employees, shareholders, and communities alike. In this conversation with Dan Pontefract, they discuss key concepts from the book including the four benefits of a deep purpose organization. Professor Gulati holds a Ph.D. from Harvard University, a Master's Degree in Management from M.I.T.'s Sloan School of Management, and two Bachelor's Degrees, in Computer Science and Economics, from Washington State University and St. Stephens College, New Delhi, respectively.
In this episode of Partnering Leadership, Mahan Tavakoli speaks with Phil de Picciotto. Phil is the founder and president of Octagon and has been at the forefront of the sports, music, and entertainment industry for more than 35 years. In this conversation, Phil de Picciotto shared what led to his initial commitment to social justice, eventually pursuing his law degree and helping found Octagon. Phil de Picciotto also talked about how Octagon signed Moses Malone and Steffi Graf and the organization's choices in staying focused on impact by transitioning women's tennis from sponsorship by the Virginia Slims cigarette brand. Finally, Phil de Picciotto shared the reasons for Octagon going global and how the organization continues to stay ahead in a competitive field. Some highlights:-Why attending Amherst ended up being a great choice for Phil de Picciotto-The impact of Phil de Picciotto's South Africa experience-Why Phil de Picciotto decided to start a sports agency-How Phil de Picciotto led the removal of tobacco sponsorship from professional tennis-The importance of an organization's purpose and how to navigate it to the optimal benefit of everyone-Octagon's Blue Ocean Strategy in going global -How Phil de Picciotto has continued to use his influence to make a difference -How organizational leaders can align team members with organizational values and priorities Mentioned:-Ranjay Gulati (Listen to Ranjay Gulati's episode on Partnering Leadership here) Connect with Phil de Piccioto:Octagon WebsiteOctagon on FacebookOctagon on TwitterPhil de Piccioto on LinkedInConnect with Mahan Tavakoli:https://mahantavakoli.com/https://www.linkedin.com/in/mahan/ More information and resources available at the Partnering Leadership Podcast website: https://www.partneringleadership.com/
Having a purpose is not the same as a purpose statement. Purpose is an ideal. It is the reason you choose to exist. Professionally, it is why you go to work. Is it a job(money)? Is it a career (get ahead)? Is it a calling (gives you meaning)? Ranjay Gulati joins Kevin to discuss deep purpose at work. He believes it is the foundation for the organization and defines the work experience, including culture. When your organization believes in something, you move your team from not just satisfied or engaged to inspired. An inspired team does the work because they want to. Key Points In this episode, Ranjay shares how purpose differs from mission, vision, and values. He discusses practical realism. He talks about the organizational benefit of deep purpose. Meet Ranjay Name: Ranjay Gulati His Story: Ranjay Gulati is the author of several books, including his newest Deep Purpose, the Heart and Soul of High-Performance Companies. He is the Paul R. Lawrence MBA Class of 1942 Professor and the former Unit Head of the Organizational Behavior Unit at Harvard Business School. Worth Mentioning: Connect with Ranjay Gulati https://www.linkedin.com/in/ranjay-gulati/ https://twitter.com/RanjayGulati
When you end an interview with a Harvard Business School professor and he tells you your questions made him think, it kinda makes your day (or maybe your week, your month, your year, or, perhaps your life)! Though we may not see eye-to-eye on all the issues he presented, I consider the chance to chat […] The post 424: Deep Purpose is the Heart and Soul of High-Performance Companies with Ranjay Gulati first appeared on Read to Lead Podcast.
Harvard Business School professor and author Ranjay Gulati says that sentiment is growing among business leaders that companies have a larger role to play than simply providing shareholder value. He joined the FM podcast to discuss that topic and others highlighted in his recent book, Deep Purpose: The Heart and Soul of High-Performance Companies. Gulati explains about when he realised the expectation “that businesses have to do more” is growing dramatically and what a leader at Lego said about finding purpose.
Are you clear as to what your personal or organisation's purpose is? In this episode of the Evolving Leader podcast, co-hosts Jean Gomes and Scott Allender talk to Harvard Business School Professor Ranjay Gulati. Professor Gulati's research around purpose focusses on why it has become increasingly important for organisations. In his book ‘Purpose, the heart and soul of high performance companies', Ranjay Gulati argues that a deeper engagement with purpose can serve as a radically new operating system, enhancing performance while also delivering meaningful benefits to society.‘Deep Purpose, the Heart and Soul of High-Performance Companies' (Ranjay Gulati, Penguin, 2022) 0.00 Introduction2.17 Could you start by giving us a brief tour of your career and tell us what sparks your curiosity?5.43 Why do you think purpose has become such a key focus for organisations in the last decade? 8.26 How do you define purpose and how might some people be misconstruing what purpose is? 12.31 You've said that pursuing a purposeful course means maintaining a difficult balance between meeting the expectations of old and new stakeholders, something that you refer to as walking the razor's edge. Can you describe what that entails? 16.32 How might organisations that do not have an embodied sense of purpose start to build that?19.16 Can you talk us through the ‘four levers that you need to pull' in order to align purpose with performance? 24.58 You talk about purpose being rooted in organisational history. How does having this connection with the past give people more clarity about the future, especially in a world that is changing so quickly?27.50 How can purpose help an organisation face quite considerable disruption more ethically?33.39 When you start talking in these terms, you are inviting greater scrutiny on your organisation, and that can be really helpful can't it?36.32 Have there been any companies that you've spoken to that have left you deeply inspired?38.15 Do you see (in your students particularly) a shift in interest towards this area? How has the values of the generations you are working with influenced the future in this respect?40.07 You also say that purpose is fragile….43.16 What impact has this work had on you personally, how has it changed your sense of purpose?46.47 What's next for you? Social: Instagram @evolvingleader LinkedIn The Evolving Leader Podcast Twitter @Evolving_Leader The Evolving Leader is researched, written and presented by Jean Gomes and Scott Allender with production by Phil Kerby. It is an Outside production.
The term “purpose” has been hijacked. The vast majority of companies today deploy corporate purpose superficially as a promotional vehicle to makes themselves appear virtuous to the outside world or to rally employees. But purpose—if used correctly—can be a transformative way of doing business. In his book, distinguished Harvard Business School professor Ranjay Gulati argues that companies must embed purpose much more deeply than they currently do, treating it as a radically new operating system for the enterprise.As always, we welcome your feedback. Please make sure to subscribe, rate, and review on Apple Podcasts, Spotify, Stitcher, and Google Play - and make sure to follow us on Facebook and LinkedIn!
Tristan talks to Harvard professor Ranjay Gulati about his new book Deep Purpose. They discuss what purpose means in a business context and describe the perils of any companies that don't stay connected to their purpose. See omnystudio.com/listener for privacy information.
Tristan talks to Harvard professor Ranjay Gulati about his new book Deep Purpose. They discuss what purpose means in a business context and describe the perils of any companies that don't stay connected to their purpose. See omnystudio.com/listener for privacy information.
Tristan talks to Harvard professor Ranjay Gulati about his new book Deep Purpose. They discuss what purpose means in a business context and describe the perils of any companies that don't stay connected to their purpose. See omnystudio.com/listener for privacy information.
Tristan talks to Harvard professor Ranjay Gulati about his new book Deep Purpose. They discuss what purpose means in a business context and describe the perils of any companies that don't stay connected to their purpose. See omnystudio.com/listener for privacy information.
Tristan talks to Harvard professor Ranjay Gulati about his new book Deep Purpose. They discuss what purpose means in a business context and describe the perils of any companies that don't stay connected to their purpose. See omnystudio.com/listener for privacy information.
Few business topics arouse more skepticism than the notion of corporate purpose – & for good reason. Too many companies have deployed purpose as a promotional vehicle to make themselves feel virtuous & look good to the outside world. The insincerity behind efforts like these are, of course, easily spotted by both outsiders & insiders […] The post Ranjay Gulati: Why Purpose Is The Heart And Soul Of High Performance Teams appeared first on Mark C. Crowley.
This week's conversation is with Dr. Ranjay Gulati, the Paul R. Lawrence MBA Class of 1942 Professor and the former Unit Head of the Organizational Behavior Unit at Harvard Business School. Until recently, he chaired the Advanced Management Program, the flagship senior leader executive program, at the school. Ranjay studies how “resilient” organizations—those that prosper when it's smooth sailing - and when the seas are wild —drive growth and profitability. His work bridges strategy (establishing clear strategic pillars for growth), organizational design (reimagining purposeful and collaborative organizational systems), and leadership (fostering inspired, courageous and caring execution).The Economist, Financial Times, and the Economist Intelligence Unit have listed him as among the top handful of business school scholars whose work is most relevant to management practice. I've known Ranjay for a few years, and I'm thrilled to introduce you to him. He's got a deep understanding of how great companies work. We dive into the ongoing process that leaders drive to ensure that purpose is at the foundation of the entire organization – as well as – it being a strategic compass for decision making.-----Please support our partners!We're able to keep growing and creating content for YOU because of their support. We believe in their mission and would appreciate you supporting them in return!!To take advantage of deals from our partners, head to http://www.findingmastery.net/partners where you'll find all discount links and codes mentioned in the podcast.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Ranjay Gulati is the Paul R. Lawrence MBA Class of 1942 Professor of Business Administration and the former unit head of the Organizational Behavior Unit at Harvard Business School. He is an expert on leadership in turbulent times, and his latest book, Deep Purpose: The Heart and Soul of High-Performance Companies (Harper Collins, February 2022), shows how companies can embed purpose to deliver impressive performance benefits that reward customers, suppliers, employees, shareholders, and communities alike. In this conversation with Stanford adjunct lecturer Ravi Belani, Gulati discusses strategies for articulating a deep purpose and infusing it into company actions and culture.
Ranjay Gulati is the Paul R. Lawrence MBA Class of 1942 Professor of Business Administration and the former unit head of the Organizational Behavior Unit at Harvard Business School. He is an expert on leadership in turbulent times, and his latest book, Deep Purpose: The Heart and Soul of High-Performance Companies (Harper Collins, February 2022), shows how companies can embed purpose to deliver impressive performance benefits that reward customers, suppliers, employees, shareholders, and communities alike. In this conversation with Stanford adjunct lecturer Ravi Belani, Gulati discusses strategies for articulating a deep purpose and infusing it into company actions and culture.
當提到「企業目的」，多少會伴隨理想主義，認為自己的公司在創造利潤的同時，對社會也能有貢獻！但這種力求「雙贏」的目的，難免有些不切實際。 這集來聽聽，哈佛商學院企管講座教授藍傑．古拉地（Ranjay Gulati）將企業目的分為四大類，而這四大類分別是什麼？以及，什麼是能追求雙贏又務實的「深層目的」呢？
In this episode, CSB Director CB Bhattacharya is joined from Boston, Massachusetts by Ranjay Gulati, a professor at Harvard Business School and an expert on leadership, strategy, and organizational growth. Until recently, he chaired the Advanced Management Program, the school's flagship senior leader executive program. He has authored seven books, including “Deep Purpose: The Heart and Soul of High-Performance Companies.” His book explores personal and corporate purpose, and provides actionable insights on how businesses can achieve both commercial and social objectives. Gulati has been ranked as one of the top ten most-cited academics in the fields of economics and business by ISI-Incite and has received similar recognition from The Economist, Financial Times, and the Economist Intelligence Unit. His research has appeared in leading academic journals of business, as well as major publications like the Harvard Business Review, Wall Street Journal, Forbes, strategy+business, and the Financial Times. In the Episode Ranjay Gulati and Prof. Bhattacharya discuss - How to handle purpose decay and build a mindset of continuous improvement in terms of purpose over time, - Finding the balance between social and commercial objectives, - Defining personal deep purpose, and more! Sign up to receive bi-weekly episodes right to your inbox: bit.ly/csbpodcastemail Submit your "Sustaining Sustainability" feedback and/or questions: bit.ly/csbpodcastfeedback This episode was researched, recorded, edited, and produced by Prof. CB Bhattacharya and CSB Team of the University of Pittsburgh Center for Sustainable Business: www.sustainablebusiness.pitt.edu Music: "Title" by Artist From the Free Music Archive CC BY NC SA creativecommons.org/licenses/by-nc-sa/4.0/legalcod
Hundreds of Western companies have cut ties with Russia since its invasion of Ukraine, marking a critical moment for business leaders who must decide whether to abandon their Russian operations or remain – and contend with the blowback of that decision. We spoke to Harvard business professor and author Ranjay Gulati about how companies’ refusal to exit the moral gray area could lead to serious repercussions. President Biden has proposed a “billionaire minimum income tax” — at least a 20% tax on the very richest households in the country.
Hundreds of Western companies have cut ties with Russia since its invasion of Ukraine, marking a critical moment for business leaders who must decide whether to abandon their Russian operations or remain – and contend with the blowback of that decision. We spoke to Harvard business professor and author Ranjay Gulati about how companies’ refusal to exit the moral gray area could lead to serious repercussions. President Biden has proposed a “billionaire minimum income tax” — at least a 20% tax on the very richest households in the country.
In this episode of the Partnering Leadership podcast, Mahan Tavakoli speaks with Professor Ranjay Gulati. Ranjay Gulati's work bridges strategy, organizational design, and leadership.In this conversation, Professor Gulati, who until recently chaired Harvard Business School's Advanced Management Program, spoke about principles shared in his most recent book, Deep Purpose: The Heart and Soul of High-Performance Companies. Ranjay Gulati addressed how organizations can go beyond convenient purpose and meaningless purpose statements to uncover and align with deep purpose. Ranjay Gulati also shared examples of purpose-driven organizations, what gets in the way of achieving purpose, and how leaders can overcome barriers to attaining deep purpose in their organizations. Some highlights:- Ranjay Gulati on what drove him to study organizational purpose - The difference between convenient purpose and deep purpose- The role of practical idealism in attaining deep purpose- Ranjay Gulati on the difficult decisions and choices leaders need to make when it comes to purpose - How organizations can avoid purpose decayConnect with Ranjay Gulati:Ranjay Gulati on LinkedInRanjay Gulati on TwitterDeep Purpose: The Heart and Soul of High-Performance CompaniesConnect with Mahan Tavakoli:MahanTavakoli.comMahan Tavakoli on LinkedInMore information and resources available at the Partnering Leadership Podcast website: PartneringLeadership.com
Etsy, the online seller of handmade goods, grew substantially but remained unprofitable in its first decade. But after it was almost bought out by private equity firms, a new CEO arrived with a mission to save the company financially and, in the process, save its soul. Harvard Business School professor Ranjay Gulati discusses CEO Josh Silverman's purpose-driven turnaround at Etsy.
My guest today is Ranjay Gulati, an Indian-American organizational scholar and Professor of Business Administration at Harvard Business School.Professor Gulati was ranked as one of the top ten most cited scholars in Economics and Business by ISI-Incite. And The Economist and Financial Times have listed him as among the top handful of business school scholars whose work is most relevant to management practice. Gulati is the author of a number of books, and has been a frequent guest on CNBC and other media outlets. He has also served on the advisory boards of several entrepreneurial ventures.I invited Professor Gulati to be a guest on my show to discuss his most recent book Deep Purpose - The Heart and Soul of High Performance Companies. I wanted to learn about the fatal mistakes leaders make when attempting to implement a reason for being. And I was curious to get his POV on what brands can do to pursue purpose more deeply.
Ranjay Gulati is the Paul R. Lawrence MBA Class of 1942 Professor and the former Unit Head of the Organizational Behavior Unit at Harvard Business School. Until recently, he chaired the Advanced Management Program, the flagship senior leader executive program, at the school.Ranjay's book is available now: Deep Purpose: The Heart and Soul of High-Performance Companies.Learn more about Ranjay at: ranjaygulati.com.Support the Show - Become a Patron!Help us grow and become a Patron today: https://www.patreon.com/smartpeoplepodcastSponsors:Cape Clasp - Use the coupon code SMART to save 30% off your first order! https://www.capeclasp.com.Natural Stacks - Get 50% off Neurofuel when you go to https://naturalstacks.com/smartpeople.
CHANGE@WORK: A Podcast About the Human Side of Change Management
Ranjay Gulati—a Harvard Business School professor, organization and leadership expert, and best-selling author—joins this episode of CHANGE@WORK. Tune in as he and host Chris Thorn discuss his new book, Deep Purpose, and how to go beyond a surface-level purpose statement to actually activate performance.
Welcome to the What's Next! Podcast with Tiffani Bova. Ranjay Gulati is the Paul R. Lawrence MBA Class of 1942 Professor and the former Unit Head of the Organizational Behavior Unit at Harvard Business School. Until recently, he chaired the Advanced Management Program, the flagship senior leader executive program, at the school. Professor Gulati studies how “resilient” organizations—those that prosper both in good times and bad—drive growth and profitability. His work bridges strategy (establishing clear strategic pillars for growth), organizational design (reimagining purposeful and collaborative organizational systems), and leadership (fostering inspired, courageous and caring execution). He is the author of a number of books, with the most recent release of “Deep Purpose: The Heart and Soul of High-Performance Companies” in 2022. THIS EPISODE IS PERFECT FOR… people who want to rediscover their own purpose on a deeper level and support others as they find their own sense of purpose. TODAY'S MAIN MESSAGE… purpose is a multi-layered concept that spans many different parts of one's life, both personally and professionally. Purpose can provide you the motivation to achieve something beyond the present state of being, guide you in the direction of the goals you truly want to accomplish in life, inspire others to follow in your footsteps, and create connections within communities that align with your goals and share your vision for the future. WHAT I LOVE MOST… Ranjay is very clear about the need for corporations to understand “purpose.” Defining a strong sense of purpose is good business because if you aren't thinking for the long term, you won't be in business. Running time: 30:46 Subscribe on iTunes Find Tiffani on Social: Facebook Twitter LinkedIn Find Ranjay online: Official Website Twitter LinkedIn Ranjay's Book: Deep Purpose
The term “purpose” has been deployed superficially by companies to appear virtuous without the benefit of using it as a core operational principle. Companies that treat purpose as an existential intention that informs every decision, practice, and process are thriving in today's times where business is expected to be a force for good in the world. This new breed of stakeholder capitalism adopts purpose as their operating system, perceiving it as a vital animating force with near-spiritual power. As a result, these companies can navigate the tumultuous terrain of multi-stakeholder capitalism far more adeptly than most, increasing value for all stakeholders, including investors, over the long-term.
The term “purpose” has been deployed superficially by companies to appear virtuous without the benefit of using it as a core operational principle. Companies that treat purpose as an existential intention that informs every decision, practice, and process are thriving in today's times where business is expected to be a force for good in the world. This new breed of stakeholder capitalism adopts purpose as their operating system, perceiving it as a vital animating force with near-spiritual power. As a result, these companies can navigate the tumultuous terrain of multi-stakeholder capitalism far more adeptly than most, increasing value for all stakeholders, including investors, over the long-term.
The term “purpose” has been deployed superficially by companies to appear virtuous without the benefit of using it as a core operational principle. Companies that treat purpose as an existential intention that informs every decision, practice, and process are thriving in today's times where business is expected to be a force for good in the world. This new breed of stakeholder capitalism adopts purpose as their operating system, perceiving it as a vital animating force with near-spiritual power. As a result, these companies can navigate the tumultuous terrain of multi-stakeholder capitalism far more adeptly than most, increasing value for all stakeholders, including investors, over the long-term.
The term “purpose” has been deployed superficially by companies to appear virtuous without the benefit of using it as a core operational principle. Companies that treat purpose as an existential intention that informs every decision, practice, and process are thriving in today's times where business is expected to be a force for good in the world. This new breed of stakeholder capitalism adopts purpose as their operating system, perceiving it as a vital animating force with near-spiritual power. As a result, these companies can navigate the tumultuous terrain of multi-stakeholder capitalism far more adeptly than most, increasing value for all stakeholders, including investors, over the long-term.
In this episode, Ranjay Gulati, shares his story of how he discovered what deep purpose is and how he began to look at his own organizational purpose. We discuss how companies can dedicate themselves more profoundly to purpose-driven leadership and use it to engage with employees on the frontline and how purpose can be pursued in a more thoughtful way that can transform businesses and leadership in general. Get full show notes and more information here: https://ssfllp.com/rebooting-capitalism-podcast/#ep33
My guest today is Ranjay Gulati. Ranjay is a professor at Harvard Business School and the author of ‘Deep Purpose: The Heart and Soul of High-Performance Companies'. In this episode, we talk about how to harness a sense of purpose to create a great team and the power of good storytelling. Ranjay also offers some leadership lessons from the Seattle Seahawks NFL team and Howard Schultz at Starbucks, and stay tuned at the end for a great story about Ranjay's mum as well. We discussed if people want to have a sense of purpose individually and also corporately:I think it's very clear that we're facing a meaning crisis in the world today. I mean you look at the data on great resignations or great reshuffle or whatever you want to call it. You look at mental health demands being placed on the mental health care system which is flooded. You know, I think people are going through a deep period of introspection. There's a lot of, kind of, all of us have been touched by death, illness and a whole range of things. And so I think rightfully people are interrogating themselves about what's my life purpose. And also what is my work purpose? How do I get more purpose out of my work? And when you ask those questions, I think it forces you to think hard about what am I doing and why am I doing it?Listen to the full episode to know more!✔ Links: Ranjay Gulati:https://ranjaygulati.com/Buy Deep Purpose:https://www.amazon.com/dp/0063088916/ref=cm_sw_em_r_mt_dp_H4JG9PKJ0HBMTYM1JYK3Ranjay Gulati on LinkedIn:https://www.linkedin.com/in/ranjay-gulatiSubscribe to Graham's Newsletter: https://www.grahamallcott.com/sign-upOur Show Sponsors: Think Productive - Time Management Training:http://www.thinkproductive.comUseful links:https://www.grahamallcott.com/links See acast.com/privacy for privacy and opt-out information.
Purpose has become a corporate buzzword over the past decade. Leaders are embracing the idea that companies can't just do well financially; they also have to do good for society. But how many organizations are really walking the talk? Ranjay Gulati, professor at Harvard Business School, has studied how dozens of purpose-driven companies -- from Etsy in the United States to Recruit in Japan -- simultaneously pursue profits. He argues that while we all want a win-win, leaders must also sometimes learn to make thoughtful tradeoffs. Gulati is the author of the book "Deep Purpose: The Heart and Soul of High-Performance Companies” and the HBR article “The Messy but Essential Pursuit of Purpose.”
You can be a do-gooder or a money-maker — but not both. That's usually the way it goes in business … But author and Harvard Business School professor Dr. Ranjay Gulati says that it's not so black and white. Dr. Gulati joins host Charles Mizrahi to discuss his book, Deep Purpose: The Heart and Soul of High-Performance Companies, the desire for meaningful work, and whether doing good is good for business. Topics Discussed: An Introduction to Ranjay Gulati (00:00:00) Crisis of Meaning (00:02:03) Voice, Choice, and Purpose (00:6:14) Doing Good vs. Doing Well (00:16:35) Sustaining Profits (00:29:26) Quantifiable Good (00:38:22) More Than Yoga Babble (00:42:45) Purpose Decay (00:50:51) Do-Good Upcharge (00:54:12) Deep Purpose Index (00:58:01) Guest Bio: Ranjay Gulati, Ph.D, is a Harvard Business School professor and a top-10 most-cited scholar in economics and business. His work is featured in Harvard Business Review, The Wall Street Journal, Forbes, and The Financial Times. Gulati studies strategy, organizational design, and leadership within resilient organizations. And he's the author of several bestselling books on business and management. Resources Mentioned: · https://www.amazon.com/Deep-Purpose-Heart-High-Performance-Companies/dp/0063088916 (Deep Purpose: The Heart and Soul of High-Performance Companies) Transcript: https://charlesmizrahi.com/podcast/2022/02/08/deep-purpose-high-performance-companies-dr-ranjay-gulati/ (https://charlesmizrahi.com/podcast/) Don't Forget To... • Subscribe to my podcast! • Download this episode to save for later • Liked this episode? Leave a kind review! Subscribe to Charles' Alpha Investor newsletter today: https://pro.banyanhill.com/m/1729783 (https://pro.banyanhill.com/m/1729783)
Deep Purpose: The Heart and Soul of High-Performance Companies by Ranjay Gulati A distinguished Harvard Business School professor offers a compelling reassessment and defense of purpose as a management ethos, documenting the vast performance gains and social benefits that become possible when firms manage to get purpose right. Few business topics have aroused more skepticism in recent years than the notion of corporate purpose, and for good reason. Too many companies deploy purpose, or a reason for being, as a promotional vehicle to make themselves feel virtuous and to look good to the outside world. Some have only foggy ideas about what purpose is and conflate it with strategy and other concepts like “mission,” “vision,” and “values.” Even well-intentioned leaders don't understand purpose's full potential and engage half-heartedly and superficially with it. Outsiders spot this and become cynical about companies and the broader capitalist endeavor. Having conducted extensive field research, Ranjay Gulati reveals the fatal mistakes leaders unwittingly make when attempting to implement a reason for being. Moreover, he shows how companies can embed purpose much more deeply than they currently do, delivering impressive performance benefits that reward customers, suppliers, employees, shareholders, and communities alike. To get purpose right, leaders must fundamentally change not only how they execute it but also how they conceive of and relate to it. They must practice what Gulati calls deep purpose, furthering each organization's reason for being more intensely, thoughtfully, and comprehensively than ever before. In this authoritative, accessible, and inspiring guide, Gulati takes readers inside some of the world's most purposeful companies to understand the secrets to their successes. He explores how leaders can pursue purpose more deeply by navigating the inevitable tradeoffs more deliberately and effectively to balance between short- and long-term value; building purpose more systematically into every key organizational function to mobilize stakeholders and enhance performance; updating organizations to foster more autonomy and collaboration, which in turn allow individual employees to work more purposefully; using powerful storytelling to communicate a reason for being, arousing emotions and building a community of inspired and committed stakeholders; and building cultures that don't merely support purpose, but also allow employees to link the corporate purpose to their own personal reasons for being. As Gulati argues, a deeper engagement with purpose holds the key not merely to the well-being of individual companies but also to humanity's future. With capitalism under siege and relatively low levels of trust in business, purpose can serve as a radically new operating system for the enterprise, enhancing performance while also delivering meaningful benefits to society. It's the kind of inspired thinking that businesses—and the rest of us—urgently need.
Companies love to tout their purpose. They come up with a grandiose purpose statement, include it in their advertising, and paint it across their walls. But, when you look closely, there's a lot of confusion about what purpose really means and what value it actually serves. Is a company's purpose only about profit? Or, is it anything but profit? Perhaps purpose and profit should work in harmony to create a win-win? “The word ‘purpose' has been hijacked,” says Harvard Business School professor Ranjay Gulati. He recently conducted extensive field research, interviewing leaders of some of the world's most successful organizations to fundamentally understand what it means to operate from a place of purpose -- or a reason for being. The culmination of his research is his latest book, Deep Purpose: The Heart and Soul of High-Performance Companies. Ranjay joins the podcast to explain what it means to be a “deep purpose” company. He describes what we can learn from leaders who get purpose right -- and use it as a North Star to guide and elevate an organization's people, productivity, and potential. Listen to this episode to learn: • Why business (and life) without tradeoffs is an illusion • How purpose provides clarity on how to prioritize tradeoffs as well as the ability to make demands of company's stakeholders • How leaders like Microsoft CEO Satya Nadella create a sense of purpose within their company to inform culture, organizational design, and people strategy • The opportunity for companies to help their employees (especially younger ones) discover coherence and connection between their purpose in life, career, and job -- the “Holy Grail” of fulfillment • Why great companies look inside before they look outside -- aiming to get a clear understanding of “who I am and why I'm here” • How NFL coach Pete Carroll unlocks “human potential,” and why all company leaders should strive to do the same with their employees
Ranjay Gulati is an organizational scholar and professor of business at Harvard Business School. His latest book, Deep Purpose: The Heart and Soul of High-Performance Companies shares the stories of companies that pursue what he calls a “deep purpose”. Ranjay studied the actions, cultures, and leadership companies pursuing purpose — where they succeed and where they fall short, to help other leaders in “walking the razor's edge” to achieve both commercial value and social good through purpose. Ranjay calls for a reform of business, built around the idea that companies can and should use purpose not only to achieve social good but to help achieve greater commercial performance through clarity of direction and inspiration and engagement of employees. In a conversation with Martin Reeves, Chairman of the BCG Henderson Institute, Ranjay discusses insights from the new book. *** About the BCG Henderson Institute The BCG Henderson Institute is the Boston Consulting Group's think tank, dedicated to exploring and developing valuable new insights from business, technology, economics, and science by embracing the powerful technology of ideas. The Institute engages leaders in provocative discussion and experimentation to expand the boundaries of business theory and practice and to translate innovative ideas from within and beyond business. For more ideas and inspiration, sign up to receive BHI INSIGHTS, our monthly newsletter, and follow us on LinkedIn and Twitter.
Does your purpose align with your business? In today's episode, we are joined by Ranjay Gulati, a professor at Harvard Business School and an expert on leadership, strategy and organizational growth. He is the author of seven books, including "Deep Purpose: The Heart and Soul of High-Performance Companies," which will be released in February 2022. Gulati believes that leaders today must cultivate courage in others, activating a winning mindset centered around priorities, principles and purpose. In our conversation today we discuss rediscovering your organization's purpose, how organizational purpose can help leaders navigate tradeoffs on their path to success, and how to fully integrate your purpose throughout your organization's ecosystem. You don't want to miss this episode! – – – In today's episode: 7:00- Reframing the meaning of purpose 12:00- Rediscovering and aligning your organization to its original purpose 16:50- Using your organizational purpose to navigate tradeoffs and make efficient decisions 24:10- How leaders can integrate their purpose throughout the organization – – – Learn more about Ranjay Gulati and his new book here: Deep Purpose: The Heart and Soul of High-Performance Companies – – – We believe you matter, your work matters, and your business matters. The 10X Impact Conversations podcast is designed to help you thrive in life and work using science, coaching, and conscious practices you can integrate today. In each episode, our hosts Laura Jaurez and Katie Comtois discuss or interview leaders and experts to uncover how people and organizations are making the world better through their own evolution, relationships, and work. This podcast is a production of 10X Leadership Lab – a conscious executive coaching and consulting practice committed to making the world better by making business better. To learn more about how we can support you and your business, visit us at 10xleadershiplab.com.
The Success Factor: Developing the Mindset and Skillset for Peak Business Performance by Ruth Gotian A distinguished Harvard Business School professor offers a compelling reassessment and defense of purpose as a management ethos, documenting the vast performance gains and social benefits that become possible when firms manage to get purpose right. Few business topics have aroused more skepticism in recent years than the notion of corporate purpose, and for good reason. Too many companies deploy purpose, or a reason for being, as a promotional vehicle to make themselves feel virtuous and to look good to the outside world. Some have only foggy ideas about what purpose is and conflate it with strategy and other concepts like “mission,” “vision,” and “values.” Even well-intentioned leaders don't understand purpose's full potential and engage half-heartedly and superficially with it. Outsiders spot this and become cynical about companies and the broader capitalist endeavor. Having conducted extensive field research, Ranjay Gulati reveals the fatal mistakes leaders unwittingly make when attempting to implement a reason for being. Moreover, he shows how companies can embed purpose much more deeply than they currently do, delivering impressive performance benefits that reward customers, suppliers, employees, shareholders, and communities alike. To get purpose right, leaders must fundamentally change not only how they execute it but also how they conceive of and relate to it. They must practice what Gulati calls deep purpose, furthering each organization's reason for being more intensely, thoughtfully, and comprehensively than ever before. In this authoritative, accessible, and inspiring guide, Gulati takes readers inside some of the world's most purposeful companies to understand the secrets to their successes. He explores how leaders can pursue purpose more deeply by navigating the inevitable tradeoffs more deliberately and effectively to balance between short- and long-term value; building purpose more systematically into every key organizational function to mobilize stakeholders and enhance performance; updating organizations to foster more autonomy and collaboration, which in turn allow individual employees to work more purposefully; using powerful storytelling to communicate a reason for being, arousing emotions and building a community of inspired and committed stakeholders; and building cultures that don't merely support purpose, but also allow employees to link the corporate purpose to their own personal reasons for being. As Gulati argues, a deeper engagement with purpose holds the key not merely to the well-being of individual companies but also to humanity's future. With capitalism under siege and relatively low levels of trust in business, purpose can serve as a radically new operating system for the enterprise, enhancing performance while also delivering meaningful benefits to society. It's the kind of inspired thinking that businesses—and the rest of us—urgently need.
Ranjay Gulati is the Paul R. Lawrence MBA Class of 1942 Professor and the former Unit Head of the Organizational Behavior Unit at Harvard Business School. Until recently, he chaired the Advanced Management Program, the flagship senior leader executive program, at the school. Professor Gulati studies how “resilient” organizations—those that prosper both in good times and bad—drive growth and profitability. His work bridges strategy (establishing clear strategic pillars for growth), organizational design (reimagining purposeful and collaborative organizational systems), and leadership (fostering inspired, courageous and caring execution). Professor Gulati was ranked as one of the top ten most cited scholars in Economics and Business over a decade by ISI-Incite. The Economist, Financial Times, and the Economist Intelligence Unit have listed him as among the top handful of business school scholars whose work is most relevant to management practice. His research has been published in leading academic journals of business, the Harvard Business Review, and a range of other outlets. He is the author of a number of books. He has been a frequent guest on CNBC and other media outlets. Professor Gulati advises and speaks to corporations large and small around the globe. He also frequently leads small-group workshops focused on helping leadership teams of high-growth companies enhance the growth trajectory of their businesses. Some of his representative speaking and consulting clients include: Abbott Laboratories, Adidas, Aetna, Allergan, Bank of America, Bank of China, Baxter, Berkshire Partners, Blackrock, Boston Scientific, Bristol Myers Squibb, Brown Brothers Harriman, Caterpillar, Credit Suisse, Expedia, Ford, GE, General Mills, Google, Henkel, Hitachi, Honda, Hospira, IBM, Iron Mountain, Kellogg Company, Keybank, KPMG, LaFarge, Lockheed Martin, Merck, Metlife, Microsoft, Mitsubishi, Novartis, Ochsner, P & G, Qualcomm, Sanofi, SAP, Target, Temasek, Unilever, and Vertex. He has served on the advisory boards of several entrepreneurial ventures and has appeared as an expert witness in business litigations. Professor Gulati holds a Ph.D. from Harvard University, a Master's Degree in Management from M.I.T.'s Sloan School of Management, and two Bachelor's Degrees, in Computer Science and Economics, from Washington State University and St. Stephens College, New Delhi, respectively. He lives in Newton, Massachusetts.
Ranjay Gulati is the Paul R. Lawrence MBA Class of 1942 Professor and the former Unit Head of the Organizational Behavior Unit at Harvard Business School. Until recently, he chaired the Advanced Management Program, the flagship senior leader executive program, at the school. Professor Gulati studies how “resilient” organizations—those that prosper both in good times and bad—drive growth and profitability. His work bridges strategy (establishing clear strategic pillars for growth), organizational design (reimagining purposeful and collaborative organizational systems), and leadership (fostering inspired, courageous and caring execution). Professor Gulati was ranked as one of the top ten most cited scholars in Economics and Business over a decade by ISI-Incite. The Economist, Financial Times, and the Economist Intelligence Unit have listed him as among the top handful of business school scholars whose work is most relevant to management practice. His research has been published in leading academic journals of business, the Harvard Business Review, and a range of other outlets. He is the author of a number of books. He has been a frequent guest on CNBC and other media outlets. Professor Gulati advises and speaks to corporations large and small around the globe. He also frequently leads small-group workshops focused on helping leadership teams of high-growth companies enhance the growth trajectory of their businesses. Some of his representative speaking and consulting clients include: Abbott Laboratories, Adidas, Aetna, Allergan, Bank of America, Bank of China, Baxter, Berkshire Partners, Blackrock, Boston Scientific, Bristol Myers Squibb, Brown Brothers Harriman, Caterpillar, Credit Suisse, Expedia, Ford, GE, General Mills, Google, Henkel, Hitachi, Honda, Hospira, IBM, Iron Mountain, Kellogg Company, Keybank, KPMG, LaFarge, Lockheed Martin, Merck, Metlife, Microsoft, Mitsubishi, Novartis, Ochsner, P & G, Qualcomm, Sanofi, SAP, Target, Temasek, Unilever, and Vertex. He has served on the advisory boards of several entrepreneurial ventures and has appeared as an expert witness in business litigations. Professor Gulati holds a Ph.D. from Harvard University, a Master's Degree in Management from M.I.T.'s Sloan School of Management, and two Bachelor's Degrees, in Computer Science and Economics, from Washington State University and St. Stephens College, New Delhi, respectively. He lives in Newton, Massachusetts.
Ranjay Gulati is the Paul R. Lawrence MBA Class of 1942 Professor and the former Unit Head of the Organizational Behavior Unit at Harvard Business School. Until recently, he chaired the Advanced Management Program, the flagship senior leader executive program, at the school. Professor Gulati studies how “resilient” organizations—those that prosper both in good times and bad—drive growth and profitability. His work bridges strategy (establishing clear strategic pillars for growth), organizational design (reimagining purposeful and collaborative organizational systems), and leadership (fostering inspired, courageous and caring execution). Professor Gulati was ranked as one of the top ten most cited scholars in Economics and Business over a decade by ISI-Incite. The Economist, Financial Times, and the Economist Intelligence Unit have listed him as among the top handful of business school scholars whose work is most relevant to management practice. His research has been published in leading academic journals of business, the Harvard Business Review, and a range of other outlets. He is the author of a number of books. He has been a frequent guest on CNBC and other media outlets. Professor Gulati advises and speaks to corporations large and small around the globe. He also frequently leads small-group workshops focused on helping leadership teams of high-growth companies enhance the growth trajectory of their businesses. Some of his representative speaking and consulting clients include: Abbott Laboratories, Adidas, Aetna, Allergan, Bank of America, Bank of China, Baxter, Berkshire Partners, Blackrock, Boston Scientific, Bristol Myers Squibb, Brown Brothers Harriman, Caterpillar, Credit Suisse, Expedia, Ford, GE, General Mills, Google, Henkel, Hitachi, Honda, Hospira, IBM, Iron Mountain, Kellogg Company, Keybank, KPMG, LaFarge, Lockheed Martin, Merck, Metlife, Microsoft, Mitsubishi, Novartis, Ochsner, P & G, Qualcomm, Sanofi, SAP, Target, Temasek, Unilever, and Vertex. He has served on the advisory boards of several entrepreneurial ventures and has appeared as an expert witness in business litigations. Professor Gulati holds a Ph.D. from Harvard University, a Master's Degree in Management from M.I.T.'s Sloan School of Management, and two Bachelor's Degrees, in Computer Science and Economics, from Washington State University and St. Stephens College, New Delhi, respectively. He lives in Newton, Massachusetts.
Good Morning Onward Nation — I’m Stephen Woessner, CEO of Predictive ROI and your host. Welcome back, and today’s episode is going to be a solocast — it will be just you and me exploring a topic with some real depth. If you’re new to Onward Nation — I tend to record a solocast every 5 to 6-weeks to share some insights, perhaps some research, or examples I gathered from hanging out and talking with agency owners, business coaches, and strategic consultants just like you. Or sometimes — I’ll pull some data points and results from the most recent experiments we’ve been running inside the Predictive ROI Lab so you can take and apply the new strategies or tactics to fill your sales pipeline with right-fit prospects. Okay — let’s shift our attention to today’s topic. I titled this episode “Now Is The Time to Double Down” for several specific reasons. Almost exactly to the day — one year ago — I shared with you a distillation of over 400 pages of research around how business owners marketed their way through a recession like what we were facing back in March 2020…and candidly…are still facing right now in April 2021. But — the data I shared with you then wasn’t focused on the survival of business owners of just the last recession but the last six recessions. If you listened to Episode 933 — you and I would have walked through all of that data…and more specifically…how the owners doubled down and made progressive decisions so they could navigate their business through the choppy waters and be in the exact right position to come roaring out the other side of their respective recession. The last 13-months have certainly taught us many lessons about navigating ourselves through a crisis — painful lessons personally — and of course — inside our businesses. We learned what it feels like to hurt — and to hurt in a big way — to hurt as family, as friends, as a country — to just hurt and to not feel like there was anywhere to turn. What it means to truly have grit. What it means to be compassionate and to take a stand for what we know is right. What it feels like when we can’t hug a loved one when they need it most. What it means to look into the eyes of your team and tell them everything’s going to be okay — when you know behind the curtain — you’re struggling to keep your head above water. In 2020 — we learned so many valuable lessons. And my hope is that through all of the mess that the year was — and the challenges that still linger today — that you also saw some silver linings. That you took the most overused word of 2020 — which was most likely “pivot” — and you put it to good use. That you reinvented. That you asked your clients, prospects, and audience how you could be even more helpful — and you stepped up — and showed your teammates what leadership is all about. That you jumped into the trenches — back to back — and you dug, slung, and moved the same mud as your team. And that you were open, you were honest, and you let them see you cry when you needed to cry. We all had those moments. You didn’t — and you don’t have to have all the answers — because you’re human. So for this solocast…we’re going to take a step back. I’m going to walk you through a small slice of the data from 12-months ago for a couple of reasons. One — I want you to see how far you have come…how you moved along that path…to reflect on the decisions you made…and the result outcomes. And yes — nothing is ever perfect…but you’re still here. And there’s victory in that. Two — we’re going to celebrate a few businesses and their owners who really crushed it. And I don’t mean necessarily from a revenue perspective…but I mean from the perspective of being the beacon of hope when we needed them to be. Being there every time their clients or customers had a question — and oftentimes a difficult one — there they were — being helpful. Let’s celebrate that because in good times — or in bad, like a global pandemic — it’s a great recipe for us to follow. And three — as we see the economy recovering — and we see momentum beginning to come back — what are some things you could be doing right now to fill your sales pipeline with right-fit prospects? I’ll share some insights that you can take and apply. So you see? Now’s the time to double down. Now’s the time to push even harder. Now’s the time to say to your team…“We’re going to plant our flag of authority in this niche so that during the next crisis — we will have even further future-proofed our business.” Now. Right now. Now’s the time to double down. Okay…deep breath. I have one more thing to share with you before we dive in. And it’s a really big, super awesome, and very sincere THANK YOU! If I could give you a big hug — I would. Today’s episode is number 1,000 of Onward Nation. And that doesn’t happen by accident. It happens because you and all of our subscribers around the world have shared feedback with us, asked questions, cared enough to point out ways we could be even better, and you shared our episodes with your colleagues, family, and friends. THANK YOU — it has been my honor to sit in this seat for the last 6 years and to have the opportunity to share the insights and wisdom from our guests…with you. There is also a very long list of family, teammates, mentors, and friends who have made these 1,000 episodes possible. They were there in the beginning — they prodded me along the way — they encouraged me when I was down — and they held me accountable to get done what I promised to do. Needless to say — I have a lot of phone calls and thank you cards to write because what John Wooden said was so true — “You will never outperform your inner circle” — and I feel fortunate and blessed to be surrounded by rockstars. So sincerely, Onward Nation…THANK YOU! Okay… I built this solocast to act as a beacon around why — in my opinion — Now’s The Time to Double Down. What can we do to rebuild — and if we work hard at it — could it be possible to come out of this recession in an even better position than when we went in? I will — and will continue to argue — yes — it is possible. And that is what drove me to do the research. To look back through past recessions, past recoveries…to study the winners and the losers…and to share with you what they did…so we can all take some lessons out of their playbooks and put them to work right now. I’m going to give you the data points and examples to show it’s possible. And — I’m going to share the next steps that you and your team can take to make it happen as well as share some free resources. And all of the research citations that I will quote can be found in the endnotes section of today’s show notes on PredictiveROI.com. With all that said — let’s start stepping through why Now’s The Time to Double Down. Let’s start off by reviewing three research studies and articles published in the Harvard Business Review. Again all linked within today’s show notes. The first article is entitled “Preparing your business for a post—pandemic world,” which was published by HBR on April 10, 2020 and was written by Carsten Lund Pedersen and Thomas Ritter, both professors at the Copenhagen Business School in Denmark. I pulled golden nuggets out of Pedersen and Ritter’s work because of their emphasis on planning before and during a crisis — and how if your planning process was sound, Onward Nation — you will come roaring out the other side of the current recession and future proof your business so you’ll be even more prepared for the next crisis. But in order to prep the proper response plan with smart strategic decisions, you must first understand the position your business holds in the market. You can do that by asking yourself and your team some fundamental questions like, “who are we in our market,” “what role do we play in the market? (Are we price-sensitive suppliers, are we market leaders, do our clients and prospects see us as thought leaders, etc.?).” And — what if we double down make immediate course corrections…could we emerge as a market leader fueled by developments, new ideas, service offerings, or invest in new markets while the recession is still here — so that — we come roaring out the other side?[1] Onward Nation — the right plan should not just map out the where but also the how. You need to map out your action steps and milestones for today, next quarter, and for the remainder of the year. And it’s been my experience — this is where business owners get snagged. In fact — I just got home after several days in Chicago attending a live and in-person workshop for agency owners hosted by Drew McLellan, CEO of Agency Management Institute. Okay — quick detour — can I just say — holy frickin’ bananas — it was so awesome to be live and in-person with other owners. To sit, listen, share ideas…share a meal…oh…my…word. Amazing. Alright — well — one of the exercises during the workshop was the one-year business plan. All it took was a quick show of hands for who actually had a one-page…or any length…written business plan. And only a few hands were raised. Why? Business oftentimes — we owners create lofty ideas without any of the tactical detail our teams can challenge, make better, and then implement — or worse yet — there’s no plan at all because we rely on winging it. Winging it may work during good economic times — but what we learned in 2020 was that winging it falls super short during a crisis. Like the former heavyweight champion, Mike Tyson famously said, “Everyone has a plan until they get punched in the face.” Your high-level, half-baked plan quickly falls about without the right operationalized strategy. And that is exactly why when the U.S. Navy SEALS create a mission plan along with 13 contingencies for each mission they execute. Yes — 13. The SEALS anticipate that there will be an ebb and flow to the mission plan as the situation evolves and changes with new data points, variables difficult to predict, or sudden changes. They never expect to not encounter changes to the plan. But if they didn’t have a plan – they wouldn’t know what gear to take, how much gear, transportation, extraction, and the litany of other things that need to be considered. The mission doesn’t change but how you accomplish it will most likely need to ebb and flow along the way. And yet – I know many business owners who bristle at the thought of planning because they don’t want to feel boxed in or the constraint on flexibility. The Seals would tell you that it is because of how they double down on the planning process that they can be more flexible on the battlefield. Because of their planning — they have already anticipated and thought through their options – and – have everything they need to quickly proceed with a new direction. Your business can be just as nimble with the right planning. Yes, COVID has been confusing. It’s been stressful. And there have been times when working with my leadership team at Predictive over the last 12 months when I felt overwhelmed and just wanted to start doing things to see if anything would stick. But — we didn’t until we had a plan. So as we start to see the end of this tunnel we’ve been in — I’m pushing you to take a step back…have discipline…look around…ask yourself and your team questions…look at today…this week…this month…and map out…IN WRITING…the steps you intend to take quickly for both the short—term — and — identify how those steps will set your business up for success in 12-months as it relates to your 3-year mission. Now — another lesson about planning. The plan is no good unless you have shared it — taught from it — marinated your team in it — and then repeated the process over and over again. You need to communicate the details of the plan as well as the process used to create the plan — with your entire team. If you or your leadership team works through the planning process in a vacuum and doesn’t share highlights, milestones, or progress as the plan is evolving — I’m telling you — your team will feel lost…they won’t know how to implement it…you will have lost your opportunity to create buy-in…and your culture will suffer. Your team was just as confused, scared, and concerned as you were when COVID first hit. And now — many of them…if not all of them…are looking forward to the possibilities that await you and your business on the other side of this recession. And you building the plan will help them not only see those possibilities — but — ensure that they see your vision — and — they will know how to make it become a reality. But to be clear — I’m not suggesting that your entire team needs to be involved in the creation of the core plan. But what I am suggesting is that you take a lesson out of the book, “Extreme Ownership” where you and your leadership team create the core plan — brief your entire team on the objectives and intent of the plan — and then ask junior members of your team to meet and work out the tactical details for implementing the plan.[3] Your job is to make sure you are clear on the objectives and the intent of the plan. Then set your expectations for the timing for the completion of the plan — quickly…like 24— to 48—hours — and have each of the junior team members present their portion of the plan back to you and your leadership team. Then everyone asks questions and in doing so – does some stress testing of the plan. It’s crucial to create space for the plan to evolve but that doesn’t mean your planning process needs to take weeks. It can be days and you will be off and running. I assure you — your greatest challenge during the planning process will be to prioritize. You need to be careful that you don’t start numerous projects that all depend on the same critical resources. If you do — you will burn out your team and nothing will get done with excellence. Instead — take your five, six, or 10 great ideas…apply pressure to them…and distill them down to one to two great ideas with clear steps for the next 30-days. And then keep a list of all of the other ideas and come back to it in 30-days and re-evaluate what should be next. And if you go to today’s show notes — you will be able to download a super helpful calendar from our good friends at Elite Entrepreneurs — it will help you visualize each and every meeting you should be having with your team throughout the year so that you can communicate the details of your plan. Now let’s shift our attention to the imagination — because we need it now more than ever. Martin Reeves and Jack Fuller, both part of the Boston Consulting Group’s Henderson Institute, wrote a brilliant article entitled, “We Need Imagination Now More Than Ever” which was published by the Harvard Business Review on April 10, 2020. A link to the full text of the article can be found in the endnotes section of today’s show notes. Reeves and Fuller put forth the argument that imagination — in the face of uncertainty, economic recession, and the historic challenges we’re facing right now — is exactly what we need to solve the problem. But it is difficult to apply imagination and all of its benefits when we are in full-on crisis management mode. Why? Because when something unexpected and significant happens our first instinct is to defend against it. Then we later move to understand and manage whatever caused the crisis so we can get back to the status quo. The authors believe – and I agree – “that your capacity to imagine…to create, to evolve, and to pursue ideas — is a crucial factor in seizing and creating new opportunities, and finding new paths to growth.”[4] But the challenge is — and my guess is when I impressed upon you the importance of planning a few minutes ago — you may have said to yourself “Stephen…there’s no time for planning – I need to double down and take action now.” Same thing with imagination — because of the pressure of COVID— it will be one of the hardest things to keep alive in your business — both now and into the future. However — imagination — rethinking how you can double down in what you deliver to be helpful to your clients and prospects is exactly what can help you come roaring out the other side of this recession. For example — in recessions and downturns, 14 percent of companies outperform both historically and competitively because they invested in new growth areas. Apple released its first iPod in 2001 — the same year the U.S. economy experienced a recession that contributed to a 33 percent drop in Apple’s total revenue. Still – Apple saw the iPod’s ability to transform its product portfolio so the company increased R&D spending by double digits, which sparked an era of high growth for the company.[5] But — let’s shine a bright light on some non-Apple companies because sometimes it’s super easy to discount these types of case studies because most of us don’t have several hundred billion lying around that we can invest toward R&D. That said — if you were to take a look inside the communities of Agency Management Institute, Elite Entrepreneurs, and Smart Real Estate Coach — you could find business owner after business owner who had their best year in history during 2020. I know many business owners who doubled sales, team size, and profit in the last 12-months. How on Earth is that possible? Were they just lucky — in the right place — at the right time — with the right silver lining? It would be lovely if it were that simple — but no. They re-imagined the possibilities. They doubled down on being helpful. They asked their clients and prospects what they needed? They shared their insights and wisdom by teaching generously. And — they didn’t just focus on service delivery. They marketed. They created content. They stepped up in a big way to be a solution. They rolled out new offerings. Retired old offerings. And they made it even easier to do business with them. They reimagined every aspect of their business, Onward Nation — and you can too. And there’s still time. If you can rally your teams — create an imaginative plan that everyone buys into because they had a hand in building it — you will likely be way ahead of your competitors as we come roaring out of this recession. Right now — because of everything that has happened over the last year — you might be the only one serving your niche who is actually thinking about how best to double down on being helpful. The rest of your industry might be thinking about that next promotional push…something…anything in order to get a few dollars in to make Q2 look promising. But — I’m encouraging you to IMAGINE a completely different path. A path where you generously share your smarts, your insights, where you teach the best of what you have and how it aligns with the business issues and challenges your clients, prospects, audience face — in good times or in crisis. You do all of this while everyone else is simply reacting. You’ll be on a completely different level. Why? Because you allowed yourself the time to imagine the blue ocean of possibilities — and — you worked your butt off to make it happen. Okay — so let’s dial this in a little further. How do you do all of that? Let me help by giving you a push from the authors. Instead of asking yourself and your team passive questions like “What will happen to us during this recession?” — flip the script — by asking active, open questions like “How can we create new options?” Or — “How can we double down and be even more helpful to our clients and prospects during this crisis?” What could we teach? What research and strategic insights could we share? What online event, webinar, or forum could we host for our clients, prospects, and audience that would share the best of what we’ve got to help them navigate what’s next? And yes — I agree with you — there are no easy solutions or silver bullets. This is a ton of work. My Predictive team and I have wrestled through many options when we were building out our 1-year Strategic Plan. We’ve worked through everything I’m recommending to you…I have seen it in action. So yes — it’s hard — the discipline you need in order to essentially force yourself to imagine the possibilities — create a plan — and see it through — will — no doubt — be challenging. But — all of this work — I assure you — will help you plant your flag of authority in the niche you serve — and — you will be of greater service to your clients, prospects, and audience…and…when you do this the right way…and your heart is in the right place…you will attract an abundance of right-fit prospects into your sales pipeline. And you will come roaring out the other side of this recession. Okay – the last nugget I want to share with you was a game-changer for me. I have been a student of mindset, attraction theory, and the power of the mastermind for years. I’m a firm believer in that which we focus on we get more of. Perseverating over negative thoughts produces negative results and I have seen the reverse happen, too. And when blended with a great plan, intentional execution, and hard work – the details within the plan become reality. However — what I learned from this article and wanted to share with you is how this actually plays out in the world of statistics, too. For example — “when we lose hope and adopt a passive mindset, we cease to believe that we can meet our ideals or fix our problems. In statistics, what’s called “Bayesian Learning” involves taking a belief about a statistical distribution – the prior results in other words – and then updating it in the light of each new piece of information obtained. Essentially — the outcome of the entire process can be determined by the initial belief. Therefore Onward Nation — in a very real way — pessimism can become a self—fulfilling prophecy.”[6] In the show notes — I cite the section of research from the article I just shared with you so you can do a deep dive into the justification for it if you like. So let’s go high level for a minute — if you focus on being imaginative, being open to the possibilities, giving your team grounds for hope, encouraging them to be innovative…and all of this is done with the intent of being helpful to your clients and prospects in a way you never have been before…you will make progress. Meanwhile – your competitors will be bogged down in the myriad of thin things and trapped in a short-term survival mentality that requires them to TAKE from their clients and prospects…and guess what…it won’t work. There were many silver linings of the last 12-months if we look hard enough — and I will tell you that one of the biggest — is that we as people are even more attuned to generosity, transparency, truth, and it has become super easy to sniff out a fake. So — imagine yourself generously playing the long game and your clients and prospects will love you for it because they will see you are genuinely playing the game for their benefit. Trust me when I say that the trench you’re fighting in every day – that trench of pressure, doubt, fear, anxiety, and at times…overwhelm…yep, I know that trench well, too. And I’m right there — right here — with you…slugging it out, too…and working hard. One thing I’m grateful for is that because of the last 12 months — at Predictive — we sharpened our leadership and planning skills. We were forced to quickly build a plan. My fellow leaders and I prioritized…we mapped out how we could be helpful to our clients and prospects…and we did all of that from the spirit of imagination. And then we shared it with our team. Now – taking you behind the curtain in full transparency…we did all of that in 48—hours. This is not a 4—6 week process. Don’t get bogged down. Get moving. Let’s keep up the momentum of the planning process and begin to think about how you could deal with the myriad of business pressures right now. Do you continue to look to cut operating costs. Do you reduce staff? Do you work to open new markets and invest in R&D, or some other combination of strategies? And – is there an ideal combination or blend of the strategies – and if so – what have been the result outcomes from other companies as they worked to navigate past crises. Thankfully – there is some excellent research available on all of the above. With that said – it might seem a bit odd that I am going to now turn our attention toward an article / published study in the Harvard Business Review from 2010. Why would I pull from an article that is 10—years old? The article is entitled, “Roaring Out of Recession” and was published in HBR on March 3, 2010. I’m encouraging you and your team to study it because the data points within the article provide a whole lot of context that will be helpful to what you’re working on today. Back in 2010 of course – the country was looking for any and all help in pulling itself out of the Great Recession of 2008 and 2009. But in order to make smart recommendations to their 2010 readers – the authors went back and gathered data from the past three global recessions: The 1980 crisis (which lasted from 1980 to 1982) The 1990 slowdown (1990 to 1991) And the 2000 bust (2000 to 2002) They studied 4,700 public companies, breaking down the data into three periods: The three years before a recession The three years after And the recession years themselves.[8] It took the researchers over 12-months to complete the research and they focused on publicly traded companies because of the availability and access to data. Here are some of the strategic insights from the research… 17 percent of the companies in the study didn’t survive their respective recession. About 80 percent of 4,700 companies in the study (3,760 companies) had not yet regained their pre-recession growth rate for sales and profits three years after the recession. 40 percent of the 4,700 companies (1,880 companies) hadn’t even returned to their prerecession sales and profits levels by the end of the three years post-recession. For the majority of the companies – the financial impact of the recession were long-lasting. Only 9 percent of companies flourished after a slowdown and did better than they had before and outperformed rivals in their industry. Interestingly — companies that cut costs faster and deeper than their competitors didn’t flourish. In fact – these were the companies in the study with the LOWEST probability — 21 percent — of pulling ahead of their competition when the economy rebounded. Counterintuitively — the company leaders that decided to double down and boldly invest more than their rivals during a recession also didn’t fare well. They only enjoyed a 26 percent chance of becoming leaders after a downturn and then into an economic rebound. And most surprising to me when I studied the research was learning that 85 percent of growth leaders heading into a recession were toppled because of the crisis. So if you’re not currently the leader in your niche – then right NOW could absolutely be your perfect opportunity if you lead your team correctly, plant your flag of authority, and be the expert your clients, prospects, and audience need you to be. The post-recession winners were companies that mastered the art of making progression decisions and balancing cutting costs to survive AND investing to grow tomorrow. And the proof is in the results with 37 percent of the post-recession winners breaking away from the pack. “The post—recession winners were the companies that cut costs selectively by focusing on increasing operational efficiency — meanwhile — they invested relatively comprehensively in the future by spending on marketing, R&D, and new assets. This is the best antidote to a recession.”[9] The researchers called the segment of companies that had taken this strategic approach, “Progressive.” Okay — so let’s define that a little further. Progressive companies deploy the optimal combination of defense and offense. Conversely — the “prevention-focused companies” in the study were the ones whose leaders quickly implemented policies that reduced operating costs, shrunk discretionary expenditures, eliminated frills, lowered headcount, and preserved cash. They also postponed making new investments in R&D, developing new businesses, or buying assets such as plants and machinery to expand their capacity. Prevention-focused leaders cut back on almost every item of cost and investment and reduce expenditures significantly more than competitors. Focusing solely on cost—cutting causes executives and employees to approach every decision through a loss—minimizing lens and pessimism permeates the organization. Prevention-focused companies did exactly what Brett Gilliland, CEO of Elite Entrepreneurs, warned us against back in Episode 929 when he shared the lessons around flee, fight — and the most harmful to business owners — and that’s freezing and doing nothing. Prevention-focused companies were the ones that suffered the most during the recession – and – took the longest to recover. Or – never recovered to their pre-recession levels for sales and profit. So let’s flip that — is doubling down on promotion the right strategy…right now? No – it’s not that simple. When companies in the study focused purely on promotion — essentially having the mindset of we’re going to advertise our way out of the crisis by just shouting more often that our customers need our stuff — it developed a culture of optimism that led companies to deny the gravity of a crisis for a long time. They ignored early warning signs, such as customer’s budget cuts, and were steadfast in the belief that as long as they innovate, their sales and profits will continue to rise. They didn’t notice that because the pie was shrinking and that they must capture an even larger share from rivals to keep growing. And this typically leads to intense price competition and a zero—sum game. No one wins in a race to the bottom. However — progressive companies — which is where I’m urging you to begin thinking, Onward Nation — they are the companies that cut costs by improving operational efficiency rather than by slashing the number of employees. Only 23 percent of progressive companies cut staff — whereas 56% of prevention—focused companies do—and they lay off fewer people. And the offensive moves by progressive are even comprehensive. Progressive companies developed new business opportunities by making significantly greater investments than their rivals in R&D and marketing, and they invested in expanding their capacity. Progressive companies developed new markets and invested to enlarge their asset bases. They took advantage of depressed prices to buy property, equipment, etc. All of that combined is why the post-recession growth in sales and earnings by the progressive lead companies was the best among the 4,700 within the study. Okay — let’s do a quick recap of what we have covered so far. First — by the data — you need to have a plan that involves your entire team – you cannot afford to wing it through any crisis…and definitely not this one. Second — you need to find ways to stay open to imagination and let it impact your R&D and how you approach doubling down on being helpful to your clients and prospects. And third — if you want your business to make it through the other side of this crisis…and potentially…be in an even better position than when you entered it…now is the time to be progressive. Yes, reduce your operating expenses to boost efficiency…keep your team intact the best you can…and make investments in your marketing and R&D so you can be even more helpful to your clients, prospects, and audience. Let’s take the ROI around marketing investments a bit deeper with some data points collected from a study commissioned by the Advertising Specialty Institute (ASI). “ASI studied 2,662 firms from 1970 – 1991 to determine the effect of marketing on a company during a recession. Firms that marketed during a recession increased in value and got more marketing bang for their investment. In some cases – up to three years after the recession had ended. It seems like common sense – if you market when everyone else stops marketing – your message is more likely to be noticed due to a less cluttered market and your business is more likely to be remembered once your competitors begin marketing again.” In my opinion, Onward Nation — this NOW’S THE TIME for you not to be silent. You need to be in front of your clients, prospects, and audience — and yes — that is marketing. But — not pitchy and salesy. Focus on helping. Drew McLellan and I mapped out a complete blueprint for how to do this — and how to do it well — in our book, “Sell with Authority.” And if you want a free paperback copy — all you need to do is send me an email at stephen@predictiveroi.com and I will ship you a copy. No shipping fees — nothing. Just let me know you want a copy — and we’ll ship it straight away. I want you to have a progressive mindset about how to lead your business to the other side of this recession — and — I want you to be very thoughtful about the content you and your team creates and shares. This is why I also want to share some highlights from a special report from Edelman because the context here will help guide the context of your content. You can access a full copy of the report from the Edelman website using the link at the bottom of today’s show notes. Edelman is a global communications firm that partners with businesses and organizations to evolve, promote, and protect their brands and reputations. Edelman employs 6,000 people in more than 60 offices. And they have been studying, researching, reporting on the topic of trust for the last 20—years. Their report has become the standard for excellence on the topic. Edelman conducted a 12—market study on the critical role brands are expected to play during COVID. They interviewed 12,000 people in Brazil, Canada, China, France, Germany, India, Italy, Japan, South Africa, South Korea, the UK, and the U.S. I’m going to walk through a high—level overview of just a handful of key insights… 71 percent said if they perceive that a business is putting profit over people, they will lose trust in that business forever.[10] 84 percent said they want advertising to focus on how brands help people cope with pandemic—related life challenges.[11] 77 percent said they want brands only to speak about products and services in ways that show they are aware of the crisis and the impact on people’s lives.[12] And the study showed that there’s a deep desire for expertise. 84 percent of respondents globally said that they want businesses to be a reliable news source that keeps people informed. They want to receive this information from multiple sources, in part because they are skeptical about any individual medium given the proliferation of fake news. Taking that further — 85 percent of respondents want you to be an educator, offering your audience instructional information. With that said — I’m not suggesting that you play doctor or infectious disease expert. But what I am recommending is that you pick up the torch and lead the conversations in your niche about the business impact COVID has had — and is having — on your customers, your vendors, your industry as a whole. And — continue to champion the distribution of resources, research, or anything else you think will be helpful to your community of clients and prospects who are desperately seeking answers. If you’re on our email list – you likely received updates from me when PPP was first a thing — and then the series of resources, calculators, applications, tax resources, etc. that were all made available shortly thereafter. Our expertise isn’t in the public health arena – but – we absolutely believed we could be helpful to business owners within our community by sharing resources we have curated. And you know what? The response from our community was incredible because we shared the right resources, at the right time, with absolutely no expectation of return. Helping, Onward Nation. Not selling. The team at Edelman believes that COVID has — and will — fundamentally change how we think, behave, and consume. Business owners that act in the interest of their employees, clients, prospects, and other stakeholders will reinforce their expertise, leadership, and trust and immeasurably strengthen those bonds. Your community is looking to you to share your thought leadership and expertise – and you can’t do that by shrinking or by being quiet. They want you to demonstrate your authority. Don’t be promotional – be helpful. Don’t focus on selling – but be solutions-focused. NOW’S THE TIME to Double down on sharing your expertise like you never have before. I assure you…creating an authority position will deliver a financial return on your investment. Okay – let’s begin to wrap up and come in for a landing by circling back to some additional framing about what makes someone an authority. Thought leaders don’t write content that anyone else could claim. Thought leaders don’t write about anything and everything. And thought leaders don’t compete on price. And because of COVID, the data from Edelman, the data from our own ROI of Thought Leadership study (we’ll add a link in the show notes so you can download a free copy), and many other relevant sources — I will argue — that NOW’S THE TIME TO DOUBLE DOWN and plant your flag of authority. Churning out generic content to get ahead in Google rankings may have worked 20 years ago – but it doesn’t work today and it’s not helpful to your audience. In our book entitled, “Sell with Authority”, Drew and I shared highlights from the 2019 Trust Barometer study from Edelman, a global PR agency, which has conducted the study each year for the last 20—years. It’s a worldwide study with 33,000 consumers participating in 27 countries. One of the biggest takeaways from the study was that buyers assign a high level of trust to people they believe are just like themselves. When you think about the impact that ratings, reviews, and influencers have with their audiences, you begin to see the power of that belief. But Edelman’s research isn’t about the celebrity influencer. This study documents the rise of the common man influencer – business owners just like you and me, Onward Nation. It’s noteworthy because it gives statistical validity to the idea of real people as influencers and the impact they can have on the beliefs around a brand. The one attribute that ranked higher than the trust we have in people like you and me is the trust we have in highly educated experts. The only three groups of people we trust more than people like ourselves are company, industry, and academic experts. Experts are afforded the highest level of confidence and trust because they have a depth of knowledge in a specific industry or niche. So why in the world wouldn’t you capitalize on that? Instead of creating generic content that looks and sounds like everyone else during this crisis – take the opportunity to create thought leadership content that is unique, different, and helpful – not promotional. A true authority has something specific to teach us, and they want to be helpful or illuminating. They’re eager to share what they know because they have a genuine passion for it, and they don’t fear giving away the recipe to their secret sauce (or so it’s perceived). That confidence and generosity are contagious. Their expertise is something specific groups of people (their sweet—spot prospects) are hungry to access. Call them an expert, a thought leader, an authority, a sought—after pundit, advisor, or specialist. They’re all words for the same thing—a trusted resource that has earned that trust by demonstrating and generously sharing the depth of their specialized knowledge over and over again. Drew and I would argue that a true authority has a strong point—of—view or belief that influences how they talk about their subject area. A narrow niche, a strong point—of—view, and being findable in multiple places are the hallmarks of an authority position. And — they have a plan for creating content that is helpful to their niche and not focused on selling. All of the data points to the validity of leveraging your own thought leadership as your core strategy to proactively market your way through the recession and to make it through to the other side in a stronger position than when all of this happened. You need a plan, with some imagination, some hard work, progressive ideas, and the willingness to invest your time and attention toward execution. But if you do that – and your clients, prospects, and audience can see that you are being helpful…when they are ready to enter the market again…you’ll have put yourself in the best possible position for a new trajectory of growth. Your competitors aren’t doing this hard work. And that should be the most compelling reason why NOW’S THE TIME TO DOUBLE DOWN. The data is all on your side, Onward Nation. Okay – whew – was that a lot? Holy bananas – it sure felt like a lot. And remember — all of the research sources can be found in the endnotes in today’s show notes on PredictiveROI.com. As always — I look forward to your feedback. The emails you send me — and your comments on social media — all help us get better every day — so thank you for that Onward Nation and keep them coming. Thank you for taking the time to listen to this solocast and to make Episode 1,000 that much more special. I’m grateful! And if you need me — you can reach me directly at Stephen@predictiveroi.com. That’s my actual Inbox and I read and reply to every email. Okay, Onward Nation — until our next episode — onward with gusto! ____________________________________________________________________________________________________________________ [1] “Preparing Your Business for a Post—Pandemic World”, Carsten Lund Pederson and Thomas Ritter, Harvard Business Review, April 10, 2020. [2] “Preparing Your Business for a Post—Pandemic World”, Carsten Lund Pederson and Thomas Ritter, Harvard Business Review, April 10, 2020. [3] “Extreme Ownership”, Jocko Willink and Leif Babin, St. Martin’s Press, 2015. [4] “We Need Imagination Now More Than Ever”, Martin Reeves and Jack Fuller, Harvard Business Review, April 10, 2020. [5] “We Need Imagination Now More Than Ever”, Martin Reeves and Jack Fuller, Harvard Business Review, April 10, 2020. [6] “We Need Imagination Now More Than Ever”, Martin Reeves and Jack Fuller, Harvard Business Review, April 10, 2020. [7] “We Need Imagination Now More Than Ever”, Martin Reeves and Jack Fuller, Harvard Business Review, April 10, 2020. [8] “Roaring Out of Recession”, Ranjay Gulati, Nitin Nohria, Franz Wohlgezogen, Harvard Business Review, March 3, 2010. [9] “Roaring Out of Recession”, Ranjay Gulati, Nitin Nohria, Franz Wohlgezogen, Harvard Business Review, March 3, 2010. [10] “Trust Barometer Special Report: Brand Trust and the Coronavirus Pandemic”, Richard Edelman, Edelman Trust Barometer Special Report, March 30, 2020. [11] “Trust Barometer Special Report: Brand Trust and the Coronavirus Pandemic”, Richard Edelman, Edelman Trust Barometer Special Report, March 30, 2020. [12] “Trust Barometer Special Report: Brand Trust and the Coronavirus Pandemic”, Richard Edelman, Edelman Trust Barometer Special Report, March 30, 2020.
Purpose-driven organizations thrive! Purpose & culture are anchors. They provide a stable platform from which organizations can drive strategic and structural change and successfully face adversities. ⛳️ What is Organizational Resilience? ⛳️ What are thriving organizations doing differently? ⛳️ How can we activate purpose in organizations? ⛳️ What are the enables of resilience? ⛳️ How do we connect individual and organizational purpose and resilience? ⛳️ Thriving through the 2020 crisis ⛳️ Courage as an enable of resilience. These are all questions that Professor Ranjay Gulati will answer in the 1st episode of the new Building Resilience series. Ranjay Gulati is the Paul R. Lawrence MBA Class of 1942 Professor of Business Administration and the former Unit Head of the Organizational Behavior Unit at Harvard Business School. He is an expert on leadership, strategy, and organizational issues in firms. Professor Gulati was ranked as one of the top ten most cited scholars in Economics and Business over a decade by ISI-Incite. The Economist, Financial Times, and The Economist Intelligence Unit have listed him as among the top handful of business school scholars whose work is most relevant to management practice. He has been a Harvard MacArthur Fellow and a Sloan Foundation Fellow. His research has been published in leading journals such as Administrative Science Quarterly, Harvard Business Review, American Journal of Sociology, Strategic Management Journal, Sloan Management Review, Academy of Management Journal, and Organization Science. He has also written for the Wall Street Journal, Forbes, strategy + business, and the Financial Times. Professor Gulati sits on the editorial board of several leading journals and was a co-editor of a special issue of the Strategic Management Journal on Alliances and Strategic Networks in 2000 and another special issue on Organizational Architecture that appeared in 2012. He also guest-edited a special issue of the Academy of Management Journal on Relational Pluralism in 2014. Support the Skills for Mars podcast? Please visit: www.podhero.com www.skillsformars.com www.patreon.com/skillsformars - LinkedIn @skills for mars - Facebook @skillsformars - Instagram @skillsformars - Twitter @skillsformars Support this podcast
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