New ideas intrigue me. So when I was contacted by Andrea Kates to comment on her newly released book, Find Your Next: Using the Business Genome Approach to Find Your Company’s Next Competitive Edge, I was all in. I was taken by how my business fitness metaphor for individual success aligned with Kates’ business genome metaphor for maintaining competitive business advantage. Innovative thinking and questioning, especially during uncertainty, are a must for every leader.
- “I’m not really a ‘business’ leader. I just direct a small work group.”
- “I’m responsible for internal services, so I don’t have to think about the marketplace.”
- “In my company, decisions about competitive edge and growth are made by the big execs. I’m not in that loop.”
Everyone in a leadership role affects the future growth, competitive advantage, and sustainability of his/her company.
Why? Because every function, no matter how big or small, has an effect on the business’s ability to out-perform and out-innovate the competition.
If you need to be convinced, Andrea Kate’s book, Find Your Next: Using the Business Genome Approach to Find Your Company’s Next Competitive Edge, provides compelling insights.
A powerful metaphor
Scientists reveal the mysteries of our biology through DNA genome mapping. In a similar vein, Kate’s reveals a “genome” map of these six elements of business success.
- Product and service innovation—the invention of offerings that resonate.
- Customer impact—a sustainable community of support.
- Process design—alignment of the ‘how’ of a business with the evolving ‘what’ that customers need.
- Talent and leadership—the culture that will move a business forward.
- Secret sauce—the recipe of differentiation and competitive advantage in a new world of unprecedented transparency.
- Trendability—the foresight to see the future more quickly and adapt more rapidly to shifts in the landscape.
With an understanding of these elements in hand, what’s a leader to do?
The answer is simple: ASK QUESTIONS. Lots of them. Make them challenging, unnerving, disturbing, pointed, wild, and complex.
Then resist rejecting answers before you really examine, understand, deconstruct, and test them.
Great leaders learn not to be afraid of innovative thinking, new direction, disruptive change, and paradigm shifts, even though they may be tempted to resist what they don’t immediately understand.
Find your next …
Leadership is about defining reality and then laying out a path for success. Every function in every organization is ripe for improvement, change, and innovation in order to keep up with best practices or to forge new ground. It’s the same whether its human resources, financial planning, product design or marketing.
Kates lays out the struggle every leader faces:
We are all facing new realities: the mountain of facts is huge, the speed of change is impossible to keep up with, the information that used to keep us ahead of our competition is now instantaneously available, our customers are talking about us to each other more than ever before, business dynamics have turned global, and the expectations for competitive advantage are rising at record speed.
When it comes to thinking strategically, the model most leaders use is SWOT (strengths, weaknesses, opportunities, threats). Instead, Kates suggests business genomic thinking:
- Sort through the options for your company and assess your hunches.
- Match your genome to successful businesses that have already steered themselves in the direction you want to explore.
- Hybridize your company by grafting the ideas that work in other companies to your own.
- Adapt and thrive by breaking out of old habits and fostering new traditions in your business that will enable you to take advantage of a rapidly-evolving business environment.
To Kates, the key to competitive edge is looking at how you perform in any aspect of your business compared to businesses much different from yours. Even though apples and oranges are different on the surface, they are both fruit with attributes that are good for you.
The leader’s coda
Find Your Next is “based on the idea that the possibilities for what a business leader can do next must come from somewhere other than what they did last,” Kates writes.
One of the smart moves of business fitness is to implement new ideas. To do that you need to think about what’s really going on in your business, how it addresses the vortex of marketplace change, and then what course of action to take. Kate’s book is filled with approaches, insights, and a wide-range of case studies that will help you find your next.