Thinking...ahead.

Jacaranda Blues: Why self imposed deadlines are the most important

noreply@blogger.com (Dr Monique Beedles) — Sun, 25 Sep 2011 22:00:00 +0000

Jacarandas have a distinctive purple blue hue. Right now in Brisbane their vibrant blossoms are starting to emerge as spring unfolds across the city.

As a university student, the arrival of the Jacaranda blossoms was a cause for great fear and dread. It heralded the imminent arrival of exams and a very stressful time of year. One of the legends of our university was that if a jacaranda blossom fell on your head, you would forget everything you'd learned. You would never see students sitting under jacaranda trees when they were in bloom!

That's a shame, because they are magnificent trees, with strong branches and sweet, delicate blossoms. Now that I'm no longer studying, I welcome the appearance of the beautiful blossoms and the upcoming festive season.

I may not have exams anymore, but I still have deadlines. This year I've been writing a book, with the launch date set for mid November. I've set my timeline to ensure that the book will be written, edited and published in time for the launch. Of course, I've had to set time aside to do the work required to meet these deadlines and certainly at times that has generated stress, as I've struggled to balance commitments to get everything done.

During this process one friend said - don't worry, they're only self-imposed deadlines. The implication is that deadlines we set for ourselves are somehow less important. If we set the deadlines ourselves, then surely we can change them to suit ourselves? Of course, that's true.

Students don't choose the date of the exam, but they do choose to study a particular course and to put themselves through a process that involves examination. In some way most deadlines are self-imposed.

If we can't keep to the deadlines we set for ourselves, how can we keep to the deadlines imposed by others? If we want to achieve anything in life, we need to have an end-point in mind. There are many demands on our time and energy. So, why do we consider our own goals to be less important?

I challenge you today to set one goal for yourself that you'll complete before the last Jacaranda blossom falls. Will you be true to yourself?

Monique's book, Pivot Point: making the decisions that matter in business will be released in November. You can pre-order your copy now.

Yell for Cadel: What are we really celebrating?

noreply@blogger.com (Dr Monique Beedles) — Fri, 12 Aug 2011 02:37:00 +0000

Today in Melbourne, crowds will fill the streets to shower accolades one man and his bicycle.
You might ask why?
Three weeks ago we were in Paris, waving our Aussie flags and singing along to Advance Australia Fair with Tina Arena. It was a spine tingling experience that was undoubtedly the highlight of our honeymoon.

We had many people ask why we chose to plan our honeymoon around a bike race.
We must be keen cyclists - no, I don't even own a bike.
We must be huge cycling fans - not really, but we have been captivated by the Tour de France for many years and have spent endless long nights following the progress of Cadel Evans and his Tour de France dream.

It's not about the cycling, it's not about the race, it's not even about Cadel himself.
It's about the dream.

It's about setting a goal and pursuing it relentlessly.
It's about having the courage to share your dream and the leadership to have others buy into it - the Tour de France is not won by one man and his bicycle, but by a huge team, all dedicated to the same dream.

When we wave our Aussie flags and yell for Cadel, we are celebrating the power of dreams.
What is your dream and how will you harness its power?

Standing out from the crowd

noreply@blogger.com (Dr Monique Beedles) — Sun, 26 Jun 2011 22:30:00 +0000

It's been a bit quiet on this blog over the last couple of months.
My excuse is that I've been working on a major personal project - my wedding.

A wedding is an event with a certain number of standard elements, and yet each one is unique.
The challenge is to create an event that reflects your individuality while still meeting a series of expectations that fit within particular social norms. Which expectations do you need to meet and which ones can you push beyond the boundaries?

It's the same in business, where there are certain customer expectations and industry norms. Successful companies are able to meet the essential elements of these expectations while differentiating themselves from their competitors. It can be a delicate balancing act, to push the boundaries far enough that you stand out from the crowd, but not so far that customers no longer recognise the benefits you offer.

Among many individual touches, I decided to wear a wedding dress in a traditional design, but in a non-traditional colour.

So, where do you draw the line?

Re-birthing your business

noreply@blogger.com (Dr Monique Beedles) — Sun, 24 Apr 2011 04:00:00 +0000

I've just returned from a conference in New Zealand, where I was asked to speak on the topic of Re-birthing your business. Easter is an opportune time to turn your mind to how you might re-birth your own business. It's not just because of the obvious symbolic associations with re-birth at Easter, but also because for many of us, it's an enforced extended time off, a chance to take up to a week out of our normal routine with perhaps some time spent with family, friends or just ourselves.

Business strategy is often framed as something strictly rational and planned. However, imagining alternative futures is a creative process that may not come together in a strictly rational way. Instead, to imagine creative possibilities, we need to allow our minds to work holistically, we need to let the different parts of our brains connect in surprising ways.

Generating this type of creativity means taking a step back and perhaps focusing on something else altogether. It's when we're out for a walk, in the bath, or in that hazy time between waking and sleeping that the best ideas can happen. In business we sometimes try to force a rational approach to making critical decisions, when instead a better approach may be to take some deliberate time out.

I have a young nephew and when he was about three he was out in the backyard with his dad one night, admiring the magnificent full moon.

"Daddy, let's fly to the moon!"he exclaimed.

His Dad chuckled to himself and said, in a very sensible, adult tone, "We can't fly to the moon, because we don't have a rocket ship."

"That's no problem, Daddy, " my nephew replied. "We'll go to the shop and buy a rocket ship, and then we can fly to the moon!"

It's hard to escape the enthusiasm of a child who sees everything as possible, and nothing as impossible. As adults we limit our thinking by imposing barriers on ourselves as part of what we believe to be sensible behaviour.

The challenge of a re-birth is to re-think your situation through the eyes of a child, to consider what might be possible if you weren't a sensible, rational-seeming adult. How might you do things differently if anything truly was possible?

Enjoy your Easter break and when you return to work, take a fresh approach to the way you look at things and imagine the possibilities.

Pivot Point: Making the decisions that matter in business

noreply@blogger.com (Dr Monique Beedles) — Sun, 06 Mar 2011 22:30:00 +0000

If you've been following my blog for a while, you're probably wondering when I'm going to write my book. So here it is - the cover page!

...but wait, there's more.

Pivot Point: Making the decisions that matter in business

by Dr Monique Beedles PhD

Chapter One is due for pre-release to participants of the Teak Yew Business Book Club, on April 7th 2011. Book Now If you can't make it to the book club, you can express your interest in the complete book, which is due for release in late 2011.

About the Book

One of the most important issues facing business decision makers today is how to prepare for an uncertain future. Managing the day-to-day demands of running a large corporation, not-for-profit organisation or family enterprise can be draining, leaving little energy for more long term thinking.

In Pivot Point, Corporate Strategist Dr Monique Beedles addresses the seven key decisions that every business must make. Question by question, Pivot Point builds a robust decision making framework to propel your business forward.

By taking a design approach to business decision making, Pivot Point helps you to cut through the myriad of trivial decisions that constantly bog you down to focus on the decisions that matter.

About the author

For more about Monique visit moniquebeedles.com

Playing to win: who are you competing against?

noreply@blogger.com (Dr Monique Beedles) — Sun, 20 Feb 2011 22:30:00 +0000

This week saw the demise of a major book retailer in Australia, and with it calls for changes to Government regulation with the claim that retailers cannot compete with cheap imports from overseas suppliers.

It's a predictable response from companies that choose to compete primarily on price. The risk with this strategy, is that it's easy to be undercut. When you compete on the basis of price, you attract customers who are price sensitive and who will change their buying habits readily if a cheaper alternative is available. Competitive advantage based on price is most often driven by economies of scale, and there is always someone else who is bigger, faster & cheaper.

As well as books, there has been recent debate about retail more broadly and the role of Government regulation in these industries. A few key points have been largely missing from this debate:

Competing on price is not the only strategy
Michael Porter, in his classic book Competitive Strategy, defines three generic strategies on which companies compete. The first is price, the second is differentiation across the industry, and the third is niche specialisation. With the example of books, specialist retailers don't compete on price. Indeed, in most cases, they will be more expensive than the larger retailers. Instead, they offer a unique experience, specialised products in a niche focus area, or exceptional services that are not offered by their larger competitors. The advantage of this strategy, is that is doesn't rely on price sensitive customers.

What do customers want?
The other factor that has been starkly absent from the debate around retail regulation, is the question of what customers want. Indeed the customer seems to be left out of the equation altogether. The underlying assumption is that all customers are driven by price alone. While regulation might influence prices to some extent, no amount of regulation or taxes will protect retailers from smart competitors who listen to their customers and deliver a retail experience that is worth going out for.

For all businesses, it's important to understand who your competitors are and how you compete in your industry. There are risks in every strategy, but also opportunities to differentiate and come out a winner.

If it's time to review your competitive strategy - contact Monique for a strategy consultation.

Make it happen: Turning your resolutions into plans

noreply@blogger.com (Dr Monique Beedles) — Sun, 06 Feb 2011 22:30:00 +0000

We all know how it goes.
In the heady haze of the New Year celebrations, you announce that you're going to lose weight, quit smoking, get fit, or read more books.
Now that February is well upon us, how are you going with those resolutions? Have you had success, or are they a feint and distant memory?

The reason why most resolutions never happen, is because they aren't converted into plans. A simple statement such as "I want to lose weight," is far too vague. Instead, take a few simple steps to turn this resolution into a plan and actually make it happen.

Making it happen

We'll use the weight loss example to convert this resolution into a plan. The same principles apply no matter what your aim is, whether business or personal. There are a few questions you need to answer.

Why do you want to do this? Without answering this fundamental question, you may as well not bother with the rest of it. You need to answer this question for yourself, very honestly. When sticking to your plan becomes challenging, this is the thought that you need to come back to. It needs to be compelling and motivating. You need to know before you start that you actually want this outcome and why. Otherwise, it will be just another empty resolution.

How much weight do you want to lose? You need to be specific with the numbers. Your progress needs to be measurable. Base this on a realistic figure. In this example, seek medical advice if need be to work out what is reasonable and realistic.

When do you want to do this by? Set a target date. You've decided you need to lose x kilos - by when? How much will you lose per week? What are your interim milestones. Set up a graph or chart to track your progress.

How will you do it? Now that you are a bit clearer about what you actually want to achieve, work out the steps you will take to get there. In this example it could be a whole range of things involving nutrition, exercise, motivation or professional advice. Again, when creating your plan, be specific and allocate time.

How will you know you have achieved your target? If you've made specific goals and plans, as outlined above, then this part will be easy.

How will you cope with obstacles and challenges? Setting interim milestones makes it easier to track your progress. If obstacles come up, or progress is off track, you can re-set your plan to suit without losing sight of the ultimate outcome. Thinking in advance about what some of these obstacles might be will make it easier to overcome them when they arise.

How will you reward yourself? Don't underestimate the power of an incentive. While achieving your aim is a reward in itself, other incentives can also help you when challenges arise. In this weight loss example, a food based reward is probably not the best. How about a new dress, or a weekend away?

What were your resolutions? Or have you given up making them?
Take some time now to rethink your plans, before the year starts to disappear.

Building your Ark: Managing unplanned change

noreply@blogger.com (Dr Monique Beedles) — Sun, 23 Jan 2011 22:30:00 +0000

Antediluvian is one of my favourite words.

It has a quirky ring to it and it's unusual enough that if you drop it into a sentence you can really surprise people.

It's literal meaning is before the flood. Traditionally, this refers to the Biblical flood of Noah, and the term is generally used to describe thoughts, ideas or policies that are so ancient or archaic that they could have come off the Ark.

In Brisbane, where I live, and in many places around Australia and around the world at the moment, our concept of something that was 'before the flood' is no longer ancient or archaic - it's just last week. It's fresh, it's raw, it's still wet. But in many ways the implications of the word antediluvian are still the same - it really means, before everything changed.

Those plans we made for the New Year, those things we were going to do before January got away from us, those visions for what 2011 would be - they are barely a fortnight old - but somehow they seem like ancient history.

A lot of my work involves helping people to plan for the future. One of the biggest challenges is the 'what if?' Indeed many people abandon the idea of planning altogether because there are too many things that could go wrong, too many things that could change.

Unplanned changes are a normal part of life. Some are minor and some are more significant, but change of some kind is inevitable. It is not what happens in our lives, but how we deal with those things that determines our outcomes. Accepting that not everything is within our control is a useful, but difficult, first step.

Many of us may be tempted to throw our well made plans out the window in the face of unforeseen change. My advice is to be flexible and make changes where you need to, but don't abandon your core desires and values. Don't abandon your reasons for being. Hold onto these, and build your Ark around them.

Flood relief resources:

How you can help

Information for Flood Affected Businesses

Crisis Management and Recovery

Coping with Natural disasters

Lifeline

You're worth it. Don't let congratulations become complacency.

noreply@blogger.com (Dr Monique Beedles) — Sun, 12 Dec 2010 21:30:00 +0000

It's the end of a great year and you're really please with how you've done.

It's time to congratulate yourself on your fine successes, take a load off, and relax...isn't it??

Of course we should take the time to celebrate our successes and we should be proud of our achievements. But there is a fine line between congratulations and complacency. When we reach our goals, we can put our feet up and relax, or we can stop and look around for the next desirable goal.

In 2003 Australia won the cricket World Cup with an undefeated winning streak. Their coach, John Buchanan, was asked, 'How much can this side improve now that it has taken the game to a new level-what is there left to achieve?' John's response was simple and unambiguous: 'we can improve a lot across all areas of our cricket because I do not believe we have taken the game to a new level. I believe we play the same way as all other teams, utilising similar basic skills. The difference is that we deliver these skills better and more consistently than other teams."

Avoiding complacency isn't about thinking that we won't be good enough until we reach that next milestone. Instead, it's an acknowledgment to ourselves that we are already good enough to achieve what we want, as long as we are willing to put in the effort. It's saying 'you're worth it'.

Hard work is often under-acknowledged as a determinant of success. We try to ascribe it to luck, a twist of fate, or natural talents and abilities. While all of these play important roles, they are also good excuses as to why others enjoy greater success than us. If we instead recognise the hard work involved, we can look at those whose success we admire and consider that if we worked as consistently we could enjoy similar success.

Avoiding complacency means not accepting excuses. It means maintaining the discipline to stick to our strategy even when at times its hard, time consuming or stressful. It means having the courage to see things through to the end. It also means thinking creatively about what your goals really are and how they can best be achieved.

Wishing you a wonderful Christmas season and every success in 2011!

Quotes from: If Better is Possible: The winning strategies from the coach of Australia's most successful cricket team by John Buchanan. Hardie Grant Books. 2007.

A Big Thank You

noreply@blogger.com (Dr Monique Beedles) — Sun, 28 Nov 2010 22:45:00 +0000

One of my philosophies in life is that you can never say Thank You too often.

During this month, Teak Yew held its annual Thank You event for clients and supporters. It was a spectacular evening as we enjoyed cocktails and canapes at Brisbane's Gallery of Modern Art. Guests were privileged to also enjoy a private viewing of the Valentino Retrospective, a stunning collection of original pieces, by world renowned fashion designer, Valentino.

Valentino was a visionary who aimed always for beauty, timelessness and perfection in his designs. At Teak Yew we design businesses for the future and help them to become organisations that will endure and stand the test of time.

My business is coming to the end of its seventh year and continues to grow. I could not be where I am now without all those important people who help and support in many ways.

Thank you again for your help and support this year. I'm planning for a fantastic year in 2011 and look forward to supporting you as you think ahead.

Double Jeopardy: are false dichotomies killing your business?

noreply@blogger.com (Dr Monique Beedles) — Sun, 14 Nov 2010 23:00:00 +0000

In a speech defending an increase of troops in Iraq, George W Bush famously stated: '"either you are with us, or you are with the terrorists.'' This statement is a classic false dichotomy. Two options are presented as if two and only two options exist. In this example, the implication is that if you are not in support of additional troops in Iraq, then you must be a supporter of terrorism. Clearly, there are other alternatives. Hence, the dichotomy is a false one.

The danger with false dichotomies is that they can be very persuasive. We can easily be led to believe that two and only two options exist where in fact there may be more, or less, than two options.

False dichotomies to watch for in business:

1. Should you focus on strategy or implementation?
This is a false dichotomy because it implies that you need to choose between one or the other. It presents the two choices as mutually exclusive, when in fact they are not. In this case, strategy and implementation are integrally linked. We don't have a choice to focus on one or the other. For more on this, see my earlier blog on internalising strategy.

2. Are you right brained or left brained?
I think this is one of the most damaging exercises in pigeon-holing that we can do. While self awareness is important, and understanding our strengths and weaknesses is valuable, we shouldn't let definitions become limitations. This applies both to the way we perceive ourselves and the way we perceive others.

As humans we like to classify things and people. It makes our life easier and reduces our need to think critically. I once introduced myself to someone and explained that I was a strategy specialist. Their immediate response was, "oh, you must be good at maths". This response perplexed me. As it happens, I am good at maths, but what has that got to do with strategy? They had perceived strategy as a rigid pursuit of logic and rational planning. Instead, I see strategy as a process of creating the future, one that requires a holistic and creative approach. Designing effective strategy requires both analysis (breaking larger things down into smaller parts) and catalysis (creating something new from smaller constituents).

I'd encourage you to reject the idea that half your brain should be laid to waste and instead embrace holisitc, whole brain thinking.

3. Are you better at hard skills or soft skills?
Again, this is a false distinction. Some people will say that they are good at 'hard' skills, with an implication that these are somehow more important. 'Soft' skills are seen to somehow weak or less significant. In reality, good managers, and that includes good business owners, need a broad range of skills from financial acumen to the ability to deal sensitively with diverse stakeholders.

4. How do you balance work and life?
Now and then people ask me what I do in my spare time. I find this to be an amusing question. To me there is no such thing as 'spare' time. This doesn't mean that I work twenty-four hours a day. There is time spent in paid work, time spent in unpaid work and time spent for leisure, rest and relaxation. Time spent in relaxation is deliberate and purposeful, it's important time - not spare time. All of these activities make up my life, and meaningful work is part of that. If you find yourself seeking 'spare' time, it may be worthwhile reassessing your work to determine how meaningful it is for you.

Avoiding Double Jeopardy

To avoid being trapped by false dichotomies, take the time to stop and think critically before you respond:
Are these two things really mutually exclusive, or are they interlinked?
Are these two options really the only ones, or could there be others, even if they're not obvious?

Keep your eyes open for false dichotomies!

From Vision to Decision: Styling your Business for Success

noreply@blogger.com (Dr Monique Beedles) — Sun, 24 Oct 2010 21:00:00 +0000

I recently had my 'colours' done by a fashion stylist. It's an interesting exercise that helps you to determine which colours suit you best when it comes to clothing and accessories. By the end of the process I had a well defined palette of colours to choose from.

As part of this process I also catalogued my wardrobe. I was pleased to find that most of the clothes I already owned fitted within the preferred colour scheme. Intuitively I had a sense of what suited me and what didn't. There are some colours I like better than others and there is a good reason for it.

However, there were a few items of my wardrobe that clearly stood out as being the wrong shades. With my new found knowledge I was happy to cull them immediately, regardless of how long I may have had them or how much I might have paid for them. I was happy to send a pile of good clothes to the Lifeline bin so that someone else would have use of them.

What was really powerful about the colour matching process, is that it also let me know which colours to avoid. I can now walk into a clothing store and immediately dismiss anything that's khaki, gold or brown. I can confidently buy black and white without fear that it's 'boring', instead knowing that it flatters my features. Having a clear vision of what will work makes the decision making process so much easier.

It's the same when we define the vision for our business. It's easy to think that it's something airy fairy and many people are inclined to believe that having a vision is a waste of time. But how much time do we waste trying on clothes that will never suit us, buying outfits that we'll never wear?

Having a clear vision makes all the day-to-day decisions much easier. To work, the vision must be well defined and meaningful. If you have a vision that isn't working, it may need to be more clearly defined. If you're caught up in all the day-to-day decision making without seeming to have time to think ahead, actually stepping back and clarifying your vision may be the first step you need to take to get things back on track.

When it's time to clarify your vision and better define your strategy, talk to Monique.

Thinking Ahead: Questions to ask as you prepare for 2011

noreply@blogger.com (Dr Monique Beedles) — Sun, 17 Oct 2010 22:30:00 +0000

Scary as it may be, Christmas trees are already in the shops, parties are being planned, cards are being written and hams are being ordered. Is this year almost over already?

Before we get too carried away with the festive cheer, it's a good time to stop and think ahead about the coming year. You might think of this in terms of your business, your company, your career, your personal development, or all of the above.

I've put together seven questions to help you prepare for 2011:

1. What have you achieved this year? Write it down. Make a long list. Include all those little things that are sometimes overlooked, but nevertheless important. We can't all write Nobel Prize, or Olympic gold medal, but we can record and celebrate the things that are important to us. Celebrate both your professional and your personal achievements. They feed into each other and all contribute to who you are and who you want to be.

2. What did you miss this year? It's time to review those goals from last year. Some of them will have been checked off in the first question. Some of them may have been missed altogether. Have another look. Maybe the reason these goals weren't achieved is because they weren't really important to you.
As Kenny Rogers sang: 'You've got to know when to hold 'em, and know when to fold 'em.'
Reconsider which of these you want to re-focus on for next year and which you're happy to leave off your list altogether.

3. What do you really want in 2011? Start with a clean slate. If money, time and other resources were no issue, what would you really want to achieve over the next twelve months? This is the time to think big. Maybe a Nobel Prize or Olympic gold medal will still be out of the question (after all the Olympics aren't until 2012), but feel free to use your imagination.

4. What can you achieve in 2011? Go back to your answers for question 2. After answering question 3, which of these do you still want to include? Make a physical list of no more than seven things that you want to set as achievable goals for the coming year.

5. How do your goals fit with your vision and your strategy? If you look at your list for 2011 and see no alignment with your overall vision and strategy, then it's time to review these. If you're reading this and wondering 'what is my vision anyway?' then it's time to talk to Monique.

6. How will you do this, really? If you're clear about your vision and your strategy, then putting a plan in place is much easier. But a plan needs to be real. It needs to have real outcomes, real actions and real dates. What good is a plan if you don't know when to pop the champagne? Put the framework of your next year in place well before you start singing Auld Lang Syne and you'll have a much more relaxed and enjoyable celebration.

7. How will you stay sane? We can easily drive ourselves crazy trying to do to much, too soon, with too little. The world doesn't end on December 31st. Some of our dreams will be a few years away, but what we do now helps us to work towards them. Progress itself is a great achievement. Measure your progress and celebrate each success, no matter how small. It's what's important to you that matters.

Teak Yew can help you to clarify your vision, set your strategy, and design your business for the future. When you're thinking ahead...talk with us.

Pruning for better growth

noreply@blogger.com (Dr Monique Beedles) — Sun, 26 Sep 2010 22:34:00 +0000

When I was a young girl, my grandmother had a beautiful rose garden. It was formally laid out, right next to the house that sat in a clearing on a hilltop, surrounded by about five hundres acres of native forest. My Gran cared carefully for her roses. Fertilizing with manure and pruning in winter were all part of keeping the roses in full bloom.

It seems counterintuitive, to cut something back in order to help it grow - but any gardner knows that a good prune is essential to healthy growth. Growth may happen anyway, but it will be slower, messier and more erratic. Gardening guru Peter Cundall advises, 'Roses are among the toughest of all plants. Even if you ignore them they'll continue to flower, but there is no question they do benefit with a good winter prune.'

In business a good prune can also work wonders. This doesn't mean sacking everyone! Rather, it means reviewing what's really important in your business and pruning those aspects that don't contribute to good growth. It's easy to be busy. It's easy to generate activity, but is it productive? Are you growing a beautiful rose bush or a wild thicket of lantana?

As you think ahead to 2011, review the focus of your business:

What is your vision? Is it well defined?
What are you really trying to achieve?
What unproductive activities can you prune to make room for new growth?
What will be your focus areas for the new year?

If you're thinking ahead, and need help answering these questions, talk to Monique.

Time to Celebrate: recognising Queensland's business achievers

noreply@blogger.com (Dr Monique Beedles) — Sun, 19 Sep 2010 21:00:00 +0000

This week has been one of great celebrations in the Queensland Business Community.
I've attended four events of celebration that have inspired me, and reminded all of us that hard work and dedication do pay off.

Queensland Business Leaders Hall of Fame

On Tuesday night, a large and illustrious crowd gathered to recognise nine companies and business people newly inducted into the Queensland Business Leaders Hall of Fame. Governor Penelope Wensley graciously welcomed these Queensland business icons into a prestigous and growing group of businesses who have made their mark on the Queensland economy.

New inductees for 2010 were:
Bundaberg Distilling Company
Golden Circle
Jack Hutchinson (Hutchinson Builders)
Queensland Institute of Medical Research
Ray White Group
Kate Mary Smith (K.M. Smith Funerals)
Graham Turner (Flight Centre)
James Tyson (Entrepreneurial Pasturalist)
Xstrata Mt Isa Mines

You can read more about the fascinating stories of these businesses and how they have built their success in Queensland at the Hall of Fame site. This project is run as a collaboration between the State Library of Queensland and QUT Business to help preserve this important part of Queensland's history.

To me these stories were inspirational and remind us all of what is possible with hard work, determination and a clear vision. Most of these businesses started out small, with one shop or one product. These are not stories of 'overnight success', but of a long term focus on building a business for the future.

Telstra Business Women's Awards

The celebrations were continued on Friday at the presentation lunch for the Telstra Business Women's Awards. The sixteen finalists are all outstanding examples of women doing fantastic work and achieving great success in their own businesses, in the corporate world, and in our communities. Congratulations to all the finalists and to the winners, who will now represent Queensland at the national awards.

These women and their businesses all have the potential to the be the Hall of Fame inductees of the future.

Women in Technology

On Saturday night, women from technology industries across Queensland gathered to celebrate their achievements at the annual Women in Technology Awards. Finalists were 'women who are excelling or who have demonstrated leadership in their field.' I was very proud and excited to be named as a finalist among some outstanding women, for the WiT Executive Award.

Thank you to the judges for honouring me as the winner of this award, and thank you to Women in Technology who sponsored this category. Like any awards, it is the process itself which is most important. It provides an opportunity to reflect on your achievements, to look at how far you've come and to think ahead about your future direction and how you can improve. I encourage everyone to be involved with these events as a part of your own professional and personal development.

Girl Guides celebrate 100 years

The other celebration this week, was not what we think of as a business, but nevertheless an organisation that has a lot to celebrate. Girl Guides is the largest voluntary organisation for girls and women in the world and this year they celebrate 100 years of changing lives. With a mission to grow young women into confident, self respecting community members, Girl Guides have over 6000 members in Queensland.

On Tuesday night Premier Anna Bligh welcomed Girl Guides Queensland to Parliament House to honour the work of this organisation in the Queensland community. It was amazing how many parliamentarians, including the Premier have previous associations with Guiding.

As part of their outreach to the community Girl Guides Queensland has a group of business and professional women, called Women of Substance. Women of Substance run a mentor program for high school girls to help them with their worklife choices.

The next mentor breakfast, for year 11 girls, will be held on Friday the 8th October at Parliament House. If you are a woman who'd like to help inspire the next generation of leaders in business and the community, please join us for a wonderful event. More details are at the Girl Guides website, or contact Monique.

How do you celebrate?

It's been a long and exhausting week of celebrations for me, but a thoroughly enjoyable one. I believe it's important in the rush of our busy lives, and all the hard work we do, to step back occasionally and congratulate ourselves on a job well done.

Celebrate your wins, no matter how small.

Share your stories of success, to inspire others.

How will you celebrate this week?

The Agatha Christie Code: What we can learn about business strategy from the best selling novelist of all time

noreply@blogger.com (Dr Monique Beedles) — Sun, 12 Sep 2010 22:30:00 +0000

Outsold only by the Bible, Agatha Christie's crime novels have sold over 2 billion copies. For fiction written in English, only Shakespeare comes close in total sales, but he has had a four hundred year head start.

In more than eighty novels, Agatha Christie held readers in suspense as they tried to use their 'little grey cells' to deduce the villain in a series of nasty murders. Over the years, many theories have emerged that seek to explain the secret to Christie's success.

The 2005 documentary, The Agatha Christie Code, used text analysis to try to explain some of the mysteries of Christie's famed stories. Cognitive science recognises that the conscious human mind can only respond to a limited number of inputs at one time. This number is said to be seven, plus or minus two. In theory it means that no one can hold more than nine ideas simultaneously in their conscious mind. In The Agatha Christie Code, the theory was put forward that Agatha Christie always had at least 10 threads to her stories. This meant that it was impossible for the reader to keep track of them all - a way to maintain the mystery and suspense.

Whether Agatha Christie consciously wrote in this way, we will probably never know. However, it's an important reminder to be aware of the limitations of the conscious mind when designing your business strategy. A strategy should not be an unsolvable mystery. Having a 55 point plan for growth might be fantastic, but nobody can remember them all. To be effective strategy needs to be internalised. This means that you should limit your areas of focus to fewer than nine. I recommend keeping them to between five and seven, because nine is the upper limit and can't be reached by everyone.

In my own business, I have four key focus areas. Recently, I've been working with a client and we've narrowed theirs down to six. In fact the first three are a mirror of the second three, so there are really only three to remember. Everybody in the company can internalise these three things, everyone can then apply them to their daily work. While there is still a step to take between remembering an idea and applying it, there's really no future for a strategy that can't be comprehended by the conscious mind.

To refine your vision and direction and design a strategy that isn't an unsolvable mystery, contact Teak Yew.

Learn more, earn more: 6 ways to boost your business growth through learning

noreply@blogger.com (Dr Monique Beedles) — Sun, 05 Sep 2010 23:47:00 +0000

The stats are in - investing in learning provides better returns than investing in the sharemarket, according to Australian Bureau of Statistics research, published in The Australian this week.

Leading companies recognise the importance of learning. Professionals also know that investing in education and development is an essential part of their career progression. For some business owners or growing companies, there can be a reluctance to invest in learning. It may be seen as an unnecessary or extraneous expense, rather than as an essential aspect of competing in a rapidly changing world.

You can't think about strategy or growth without thinking about learning. To get from where you are today to where you want to be tomorrow requires movement along a learning curve. To achieve new outcomes, new skills and knowledge are needed.

Learning takes many forms and doesn't have to involve expensive conferences or four year degrees.

The learning plan for your business, or the professional development plan for your own career, needs to be tailored to suit your strategy and your goals.

6 ways to boost your business growth through learning:

1. Read: Mark Twain famously said that 'he who does not read is no better off than he who cannot read.' Read relevant books, newspapers, magazines, industry journals, academic papers, blogs & websites. Subscribe to journals, newsletters, blogs and feeds to stay up to date.

2. Search: Online searching for specific information is quick and easy, just make sure that the sources you use are credible. There are abundant online learning opportunities including webinars, online courses and virtual conferences. These are flexible, convenient and require no travelling.

3. Engage: Seminars, workshops, short courses where you learn from an expert on a particular topic and also meet others with an interest in the area. This might also include conferences with your industry sector or your target market.

4. Listen: Listen to the wisdom of those who've gone before you. Experienced colleagues, industry leaders, external coaches and mentors can be invaluable to your learning.

5. Apply: No matter how much time or money you invest, if learning isn't appropriate to your needs, it may be difficult to justify the expense. Likewise, if you don't apply what you've learned to your business situation, you may look back on the learning as a waste of time and money. Always ask yourself how you can apply what you've learned, and consciously turn new ideas into positive actions.

6. Reflect: Whether assessing yourself or your business, reflect honestly on the areas of weakness that would benefit from improvement and seek out the most effective ways to work on these. Monitor your progress over time by looking back to see how far you've come and the benefits you've gained from each learning experience.

Sadly, some businesses still perpetuate the old furphy: 'what if we train our people and then they leave?' To which the answer is still, 'what if you don't train them, and they stay?'

How to plan your strategy retreat: 5 key steps

noreply@blogger.com (Dr Monique Beedles) — Sun, 29 Aug 2010 22:36:00 +0000

In my last blog post I wrote about the importance of retreat to refresh and renew your business when it's time to think ahead. So, you know it's important and you know you should do it, but where do you start?

You don't need to go yak trekking in the Himalayas to have an effective retreat. It doesn't need to be complicated and it doesn't need to be expensive, but it does need to be well thought through with defined objectives, processes and outcomes.

5 key steps to plan your strategy retreat:

Set the date: Don't just think about it. Set the date, put it in the corporate calendar and then you can work towards it.
Define your objectives: What do you want to achieve from the retreat? It may be primarily for team building, for short-term or long-term planning, for direction setting or for vision building. Specify the tangible outcome that you want to achieve from the retreat.
Choose a facilitator: A facilitator can be internal or external to the organisation and there are pros and cons to each approach. Again, it depends on what your objectives are. Do you want someone with in-depth industry experience, or do you want a fresh perspective? Will an internal facilitator be too tied up in the politics of the organisation? Working with an internal facilitator can be a bit like a dentist pulling their own teeth - it seems like an economical alternative, but can be very messy.
Establish the pre-work requirements: For an effective retreat some pre-work will be required by the facilitator and the participants. This may include surveys, questionnaires, self-reflection or reading. Feedback may be anonymous or confidential and this helps the facilitator to get a good understanding of your organisation and the needs or your group. Be wary of a facilitator who wants to walk in and out in one day without any pre-work. Defining your strategy and setting your direction is one of the most important things you do in your organisation. Ensure that whoever you work with takes your organisation seriously and does the necessary preparation.
Define your follow-up process: One of the areas where strategy and planning come unstuck is if the participants believe that the retreat is an endpoint. In fact, it's a starting point. Although you may not know in advance the specific outcomes of the retreat, having a defined process to implement following the event helps to ensure that outcomes and changes will be followed up.

When you're thinking ahead about your business and ready to plan your next strategy retreat, contact Monique at Teak Yew.

It's a retreat...not a surrender

noreply@blogger.com (Dr Monique Beedles) — Sun, 22 Aug 2010 22:30:00 +0000

Glean from rich fields, and the armies will have enough to eat. Take care of your health and avoid stress, consolidate your energy and build up your strength. Maneuver your troops and assess strategies so as to be unfathomable.

Sun Tzu-Chinese warrior philosopher, in The Art of War (5th to 3rd century B.C.E)

The military metaphor has been widely used in business. It encourages you to think of your competitors as your enemies and your goal as defeating them. A lot can be learned about strategy from this approach, and certainly businesses who ignore their competitors do so at their peril - I'm still surprised by how many business people say that they 'don't have any competitors', or that they 'don't worry about them.'

While knowing your competitive environment is essential, one of the main limitations of the military metaphor is that it assumes a 'zero sum game'. In other words, there is one winner and one loser - victory must be gained at all costs. It's a limitation because in business this is not necessarily the case. New players may widen the market, rather than take away the market share of existing companies.

The other limitation is that this 'win at all costs' mentality can lead us into stressful, unhealthy lives where we ignore the very things that give us the strength we need to compete. The essence of Sun Tzu's The Art of War draws on Chinese Taoist philosophies that see the 'peak efficiency of knowledge and strategy is to make conflict altogether unnecessary: to overcome others' armies without fighting is the best of skills.'

Instead, we should keep ourselves strong and healthy, be always alert to what our competitors are doing, anticipate what they will do next, and prepare to respond when the time is right. The best performing companies know the importance of timely retreat. The retreat is not a surrender-it's not a sign of weakness or defeat. Rather, it's a time to rest, reflect, recharge and renew, to plan ahead and build strength.

Business decision makers who practice timely retreat, individually, or with their teams, return to the battle refreshed, with their eye on victory. Their competitors who have struggled on - unwilling to rest- are tired, hungry and battle weary. It's easy to see who will be the better performer.

As Sun Tzu said: "In ancient times skillful warriors first made themselves invincible, and then watched for vulnerability in their opponents."

When you're thinking ahead about the future of your organisation, contact us to design a purposeful retreat that will prepare you, and your team, for the battles ahead.

Monique's Book Mark: There are many versions of Sun Tzu's classic, The Art of War. The one I recommend is translated and edited by Thomas Cleary.

Striking a chord - why the strategy you internalise is the only strategy you have

noreply@blogger.com (Dr Monique Beedles) — Mon, 16 Aug 2010 11:42:00 +0000

Last weekend I attended a concert of fantastic contemporary music for choir and two pianos. There is nothing quite like watching a live concert pianist at work. For two pianists to play simultaneously and keep the harmony and rhythm in sync is very challenging, but amazing to watch when it's done well.

What you notice about professional pianists and other musicians, is that they play the music from memory. Performing great music is about more than just playing the notes. Not only have they memorised the score, but they've internalised the music, it's nuances and it's meaning, so that they can tell the composer's story with passion and energy.

When we see people perform in the business world, there's often a disjunct between what the composer has written in the score and what the player performs on the stage. Strategies and plans may be written down, but not internalised. Systems and processes may be cumbersome, overly complex and unwieldy to implement. Musicians can memorise music because music has patterns and harmonies that make sense. Music is not a random collection of disjointed notes.

Likewise, in business, your strategies and plans need to make sense. They need to be in harmony with your vision and values and clear enough for everyone to internalise. A random hotchpotch of systems and processes that don't work together or don't work towards the overall vision will never help the business progress and will inevitably be abandoned while people revert to playing the tunes they know.

If you want your business to perform at its best, you need to design your business the way a composer writes music, with an overall vision for the story to be told, with patterns and themes that fit that vision and with harmonies that make sense.

To design your business for its best performance, contact Monique at Teak Yew.

Is your business designed for the future?

noreply@blogger.com (Dr Monique Beedles) — Sun, 08 Aug 2010 00:58:00 +0000

Today I've created a visual blogpost to highlight the importance of good business design.
As technology, society and our global environment change, businesses must adapt in order to remain successful. The most successful businesses are those that set new standards through innovating and initiating change, rather than waiting to follow the trends.

Is your business designed for the future?

Visit our new website

noreply@blogger.com (Dr Monique Beedles) — Thu, 29 Jul 2010 07:39:00 +0000

We invite you to visit our new website.
www.teakyew.com

The new look emphasises our focus on designing businesses for the future.

You can also learn more about Monique at the twin site
www.moniquebeedles.com

We look forward to regularly updating the new format site and blog.
Subscribe to receive all the latest updates.

5 ways to strengthen your business strategy

noreply@blogger.com (Dr Monique Beedles) — Thu, 20 Aug 2009 00:28:00 +0000

Last week I was invited to a function to celebrate two years since the start of the Global Financial Crisis – the “GFC”.

I politely declined the invitation.

While it’s true that the turbulent external environment of the recent past has been challenging for many businesses, I believe it’s too easy to use the ‘GFC’ as an excuse for poor performance, lack of real engagement with customers and employees, and failed planning.
One of the biggest challenges facing business owners at the moment is how to plan for an uncertain future. It’s easy to think that because things are changing so fast, because we can't predict what will happen next, there's no point in planning.

The Difference between Strategy and Planning

Part of this reluctance arises because planning and strategy are often confused. Smart business owners know that while plans may have to be adjusted, in uncertain times having a clear strategy is more important than ever. Wise business owners know that the future is always uncertain. Effective strategy requires a balance between consistency and flexibility, but when there are significant external pressures it's sometimes hard to know what you should change and what you should stick with.

To have the best chance of success, you must stay true to your vision and values. These are at the core of your strategy. If you can't hold to these, you will lose credibility with your colleagues, with your industry peers, and ultimately with your customers. Now is the ideal time to clarify your vision and values, review your strategy, and set your direction for the future. Foundations laid in tough times can be the basis of your next level of growth.

Strong Strategy in Action

A great example of a strong strategy based on uncompromising values, is the story of César Ritz. Ritz was a passionate entrepreneur, with a single-minded vision: to have his hotels be the very definition of elegance and refinement. From humble beginnings he built a prestigious global hotel business which, after more than a century, still embraces the core values established by its founder.

The word ‘Ritzy’ immediately brings to mind a certain kind of refined elegance, luxury and sophistication. If we’re ‘putting on the Ritz’, we’re dressing in our finest attire to celebrate in style. That Ritz achieved his vision is evidence of a strong strategy built on a dedicated commitment to living the core values of the business, among them: Elegance, Service and Discretion. It’s a strategy that saw the Ritz business survive the turbulent uncertainty of the Great Depression, and two World Wars, to leave a legacy that will endure well beyond the GFC.

You don’t need to have a century-old global hotel empire to have strong values and traditions in your business. Even if you’re just starting out, you’re already establishing traditions and shaping values that will guide your success into the future.

Five ways to clarify your values and strengthen your strategy

1. Decide what is important to you.

What are the top five things that you will not compromise on?

2. Learn to tell your business story.

Rather than reciting a dry and meaningless mission statement, tell your story in your own words. What was your dream when you started out? Is that dream still alive? Do your staff know and share that dream? Are your customers attracted to your vision?

3. Put your values into action.

This means using action verbs. It isn’t enough to say ‘We value integrity’- how does this translate into the way you run your business? Try to be specific. If you say you value integrity but you’re always late with orders and behind with your bill payments, then this value is meaningless.

4. Share experiences of your values in action.

Share your own stories and encourage staff to share stories that demonstrate your values in action, like going the extra mile to help a customer. Allow customers to share their experiences, both positive and negative. These stories are more interesting than a boring old procedure manual and will help you to enact your strategy in a real and meaningful way.

5. Think about your legacy.

When your grandchildren tell their children about you, what will they say? Does the way you run your business align with the way you would like to be remembered? If not, now is the time to have a close look at what your real values are and how they will shape your strategy into the future.

This article appeared in the Strategy edition of Women in Business, a publication of the Australian Businesswomen's Network (August 2009).

Designer or DIY? Choosing the right tools for the job.

noreply@blogger.com (Dr Monique Beedles) — Thu, 16 Jul 2009 12:23:00 +0000

My Dad can fix anything.

I remember when I was a little girl, the vast array of tools in his shed. Each tool had its own place, hung neatly on a dark green shadow board with sharp white lines in the shape of the tool that belonged there: a saw, a hammer, a file and countless spanners-from the big heavy ones down to the tiny little ones, screw drivers-flat and philips head. Dad would spend hours taking things apart and putting them back together: the motorbike, the car, the lawnmower, the washing machine. His hands would be black with grease and the floor would be littered with oily rags. When mum called him in for tea, he’d scrub his hands in the laundry with a rough, orange-scented pumice.

My dad loves to fix things and he loves to build things. He can build anything. From a trailer for a motorbike to a self turning BBQ rotisserie. Last week we had a BBQ at our place. My dad noticed the doorknob on the bathroom door that has been loose for about two years, gradually falling further and further out of its socket. He asked me for a screwdriver. I have at least half a dozen screwdrivers of various types buried in my garage. I rarely use them and when I do, it’s probably only to open a tin. With one simple screwdriver dad had the door fixed in about ten minutes, and apologised for taking so long.

Why hadn’t I fixed it? After all, I’d had plenty of time and I had the necessary tools. I didn’t fix the problem because I didn’t know which tool to use, and I didn’t know how to use it. Of course, a better designed doorknob would not have come loose so easily. Thanks to a handy man and a screwdriver, it’s patched up for now, and working well.

In the business world there are plenty of tools. Many of them are undoubtedly useful, if you know when and how to use them. There are any number of business ‘hardware stores’ where you can buy tools and go home for a bit of DIY. But having a big box of fancy tools isn’t enough. As always, designing something so that it won’t break down as easily is far more effective than having to fix it when it does.

In business we find a good accountant to look after our taxes, we have a solicitor for legal matters, we have a financial planner to look after our retirement funds and we have IT people to make sure our computer systems work well. But, when it comes to the design of our businesses, many of us are happy to go with a DIY approach. We go to the hardware store and buy tools, some of us might even get a handyman in, but what we really need is an architect: a skilled professional who will work with us to understand our vision and turn it into practical plans that we can use. It’s easy to be seduced by the ads of the big hardware stores, promising every conceivable tool at bargain prices. A good architect is harder to find.

We need someone who can draw all the disparate aspects into a cohesive strategy that guides our everyday work in the direction of our overall vision. When it comes to your business, are you satisfied with a DIY tin shed, or do you want the house of your dreams?

Dr Monique Beedles - Strategist

"When the only tool you have is a hammer, everything starts looking like a nail." Abraham Maslow

Can you plan for an uncertain future?

noreply@blogger.com (Dr Monique Beedles) — Mon, 29 Jun 2009 08:56:00 +0000

It's the final week of the financial year and a good time to reflect on the past twelve months. For Teak Yew, and for our clients, it has been a year of growth and development.

This time last year most of our clients were focussed on strategies for growth. We were assisting them to restructure for greater capacity; introduce innovative products; expand into wider markets; capitalise on new technology; and refine their processes to ensure scaleability.

At this time the focus is less on growth and more on consolidation. Businesses ask us to ensure that their systems are as efficient as possible, that their people are skilled and empowered to offer their best performance, and that they are engaged fully with their customers.

One of the biggest challenges facing decision makers at the moment is how to plan for an uncertain future. I hear some people say that because things are changing so fast, because they can't predict what will happen next, there's no point in planning.

Part of this reluctance arises because planning and strategy are often confused.

Smart decision makers know that while plans may have to be adapted, in uncertain times having a clear strategy is more important than ever.

Wise decision makers know that the future is always uncertain.

Effective strategy requires a balance between consistency and flexibility, but when there are significant external pressures it's sometimes hard to know what you should change and what you should stick with. My advice is that you must stay true to your vision and values because these are at the core of your strategy. If you can't hold to these, you will lose credibility with your colleagues, with your industry peers, and ultimately with your customers.