Mind Mapping

Mind Maps are an excellent way of brainstorming, or note-taking when studying or reading something analytically. Because of their visual nature, they make it much easier to digest and recall information. They are also fantastic for enabling subjects to be viewed in different ways, from different angles and for new and insightful connections to be made.

Anyone with a creative streak will love mind maps, as they encourage the use of colour, pictures and the free-form flow of ideas. Free mind mapping apps are powerful tools to have on the iPad. Visio also has “brainstorming” templates that can be used to record ideas in this fashion.

Click to view larger image

For example, this very basic mind map was created using “SimpleMind+”. Far more engaging to record study notes using this method than creating simple lists of data!

 

 

Tips for Mind Mapping

• One central theme per map
• Branches equal singular idea threads
• Use words with impact; aim for short, strong phrases
• Use colour
• Add imagery if possible

Keeping KPIs relevant

“You can only manage what you can measure”, but if it doesn’t matter, why spend too much time and energy measuring it? KPIs that don’t relate to the goals of the business are like ingredients that don’t belong in the pot and muddle the taste of the dish.

Clearly outlining and understanding departmental goals is the first step in developing solid, meaningful KPIs. Knowing what is truly a measure of success means linking each metric to an organisational goal. Just like the theory that having too many goals makes it hard to focus, having too many KPIs also dilutes focus.

Tether KPIs very strongly to the organisation goals for each primary function of the business and look to industry and competitive benchmarks for guidance; if improving a process speed is your objective, what do other company’s success metrics look like?

A matrix that plots organisation goals, KPIs and benchmarks across the functions of the business (HR, Finance, Sales, Marketing, R&D, IT, Design, Administration, Operations etc) can help clarify what’s really important.

Once the business goals and objectives have been listed, research can be done into what sort of KPIs would best measure process improvements, and input/output activity directly relating to those objectives.

Review metrics regularly as to whether they still relate to company goals.  If a metric no longer matters, is there still a need to measuring it?

Intrapreneur; the creative Change Agent

Not everyone wants to start their own company. But creative, innovative change agents are everywhere, hungry and passionate about what they do, happy to wear multiple hats and dream big about their day jobs.
 
During a conversation I had recently about mentorship programs the term “Intrapreneur” was discussed. It’s not a new word, apparently the term Intrapreneur was first coined in 1982.  But I do love it, such an aspirational notion!

Meet the Intrapreneur...those self-educating, self-motivators who are willing to take risks, set goals and challenge their peers and superiors to think and act differently, for the good of a company that is not their own. 

Those inventors and departmental protagonists who think about solving problems or creating new revenue streams in the car on the way home, over dinner, in the shower.

During the course of their careers, these characters are from time to time asked “Why don’t you start something up on your own?” 

Mitigating risk and maintaining stability are both valid reasons why most don’t go it alone. And that’s okay, the world needs Intrapreneurs!

It’s worth investing some time into finding out more about this character profile, to either better understand yourself (if you are one) or better understand how to manage, grow and inspire them (if you have one working for you).

Are you an Intrapreneur? If you’re the business owner, do you have one working for you?

The Entourage

Today I read an article in StartupSmart about The Entourage; according to their website, Australia’s largest group of entrepreneurs and executives under 40.

“With an obsolete education system that was designed when the world was flat, we believe that people are better off learning from people with “been there, done that” experience in their chosen field.”

The Entourage are focused on providing opportunities for entrepreneurs and executives to network. They also appear to have a vision and mission that revolves around creating a better future.

“We believe that creative solutions to pressing problems will come from entrepreneurial endeavors. When you combine commerce with charity, you can begin to offer a hand up rather than a hand out. This is what is required if we are to overcome the challenges we face.”

If you’re a young entrepreneur you might want to check out their “Young Entrepreneurs’ Unconvention”. Sounds like it would be an eye-opener!

Anatomy of a Plan

The Third Wave; a book review

Every now and then you read a book that stays with you for while after you finish it.

"...It is ironic that we spend so much energy as a nation debating how to deal with refugees arriving illegally in leaky boats…migration laws cannot protect our jobs from keen workers who remain in their own countries..."

The Third Wave: Micro-globalism and the coming employment crisis in Australia is a compilation of Scott Linden Jones’ theories on the future of employment in a global community. 

Currently in Australia, with some of the highest living standards and wages in the global economy, big and small businesses alike are exploring ways to reduce labour costs. We have seen our manufacturing industry pummelled as business shifts operations to countries that allow them to reduce costs and maximise profits. Our leaders are well aware of this and are talking up policy around these issues.

Thanks to technology, the increasing ease of access to a large body of skilled and inexpensive offshore labour is an enticing proposition for any capitalist. The trend towards offshore labour is one far less heralded in the political debate as we head towards our election.  Government and educational institutions need to start paying more attention.
 
Jones writes of his predictions and the impact that the brave new world of “micro-globalism” is having on the Australian economy. It is a world of both huge threat and equally huge opportunity, but as a country we need to start being hyper-aware of the situation that is unfolding; switch gears and start preparing our young people for potentially a very different employment landscape in the not too distant future.

It is not all doom and gloom, although halfway through the book you’re beginning to wonder if Jones sees any light at the end of the tunnel. He makes some very insightful and humbling observations about our deservedness with respect to the current crop of political leaders, our expectations and feelings of entitlement as a nation and our comparative work ethic.

He also explores ethics themselves and the place they will have in an increasingly competitive business landscape. What power will ethics hold over simple and effective capitalism?
 
A must read for Australians seeking to understand the new global landscape of economics and anyone with a position of influence over the future of our young people.

Synergistic Business Modelling

The analysis and architecture of a business should drive a synergistic relationship between the three core pillars of the Business Model.

A basic Business Model is made up of three core pillars.

• Market model studies the market and strategies that outline success
• Products and services model centres on developing the company’s offering
• Operations model is concerned with delivering the offering

A cohesive business is one where the various units, functions and capabilities in each of these pillars are aligned with the overarching vision and strategy of the company.

A Business Architect will look at how they can engineer, or re-engineer the business to create better alignment. A Business Analyst will elicit from the business the reasons why such engineering may need to take place and what goals the business has; fundamental business problems and the future state a company aspires to.

Both disciplines – architecture and analysis – require an understanding of how each of the core pillars (Market Model, Products and Services Model and Operations Model) interact with one another.  Both disciplines drive the strategy for and the realisation of better business processes and capability development.