The Potentially Profound Implications of Kindle

Amazon’s remarkable second version of their Kindle book reader has some profound implications for all of us.  Here’s a “glowing” review and some speculative thoughts on what this device might just mean for a number of industries.   

First things first. I love the Kindle2 and the entire experience that it provides.  Over the past month, it has become an increasingly indispensible part of my existence, and in many respects its presence has compelled me to read more and write less.  Perhaps a few you of are saying “thank goodness” on the write-less part.

And for those of you who love the feel, smell and experience of a book and cannot imagine reading one on a device, I’m right there with you.  Or at least I was.  True to the promo copy, the Kindle device literally disappears as you become engrossed in reading a good book or an interesting newspaper article.  

And speaking of newspapers, the true test for me was whether this could hold up to one of my other true passions, reading the Wall Street Journal.  I signed up for the free 14-day trial expecting fully to bail out after seeing how clunky the experience would be when trying to replace the venerable print format.

I’ve cancelled my print subscription.  

I’m actually spending more time with my eyeballs on the Journal as I move serially through certain sections or as I navigate between sections to my favorite features.  I didn’t expect to love this as much.  I backed up my own informal experiment by giving it to my Dad who became so enamored with the device and engrossed in reading with it, that I kept my eyes on him as he was leaving my house, just to make certain the device hadn’t accidentally remained in his hands.

Oh, and the ease and speed of browsing, sampling and buying books is scary powerful.  I may have to call Amazon and place a house limit on my Kindle book account.  Samples in seconds and books in under a minute direct to the device.  Wow! 

Great marketing…a cool device, total portability for my library, an outstanding user experience and a remarkable variety of content immediately at my fingertips, without being tethered to a computer. 

A Few Speculative Thoughts: Implications and Opportunities of the Kindle

The combination of Kindle and Amazon is not dissimilar to the iPod-iTunes strategy (device: platform) that Apple used to rewrite the rules for the music industry.  Perhaps based on the music industry experience and the well-established Amazon model, the publishing industry has a game-plan to leverage this technology and its distribution platform and still make money.  If not, watch out.  

If you are a Bricks and Mortar bookstore, beware.  If you are in the book printing industry, beware as well.

Is Kindle the lifeline for the newspaper industry? I’ve got news for you doubters out there, if my sixty-nine year old father can learn to use and like reading the WSJ on this device in under 4 minutes, it’s real.

In a fascinating post in the Silicon Valley Insider, Nicholas Carson offers up some math that suggests that the NY Times could give every reader a Kindle for the price of printing and delivering the paper for a year.  After year one, it’s pure savings.  And while there’s that little detail about ad revenues and making money, this is a real scenario. 

The newspapers of the future might just not include any newsprint.  If I’m in this business, I’m looking long and hard at how to make money without having the huge costs and infrastructure needed to print and deliver. 

Magazine publishers, see also the material above. 

Others:

Amazon, what’s your open source model for allowing authors to publish directly to Kindle?  The ultimate disruptive self-publishing model?  Take it a step further… I wonder what an App store for Kindle might generate? Hmmm. 

Implications for libraries?  Schools?  Students?  Another hmmm.

The Bottom-Line for Now:

So many times the allure of new, cool devices wears off and they offer no sustainable value beyond the initial infatuation with bells and whistles.  The Kindle seems different.  It offers access, portability, a quality reading experience and yeah, a bit of novelty.  My crystal ball is as foggy as everyone else’s, but if you are in a business that is around the core being impacted by Kindle, you need a good strategy.  Otherwise, that noise you are about to hear might just be your paradigm shifting along with your profit model. 

One last comment.  The name Kindle is brilliant.  The New Oxford dictionary on the Kindle device offers up: v: light or set on fire, special usage: arouse or inspire an emotion or feeling. 

This just might be the spark that transforms whole industries and a good part of our daily lives.  

What’s the Kindle equivalent for your industry? 

 

Know Your Mission-More Management Lessons from the Memphis Belle

Note from Art: Eric Lieberman is back as a guest author with his second installment of Management Lessons from the Memphis Belle.  The “Rules” were created by Eric and his colleague, Paul Byrne, while they were leading a software company turn-around. They were successful!

Students of history and management practitioners alike will find value in these creative, powerful and practical rules for managing and leading.  Enjoy!

KNOWING THE MISSION

For this second installment of the business rules that my friend Paul Byrne and I derived from watching the movie the Memphis Belle (see my first installment: Management Lessons from the Memphis Belle-Rule #1), I am departing from the order in which we originally wrote the rules.

Instead, because it is a concept so fundamental to our success in anything we do, I am jumping to Rules 11, 16 and 19, all of which underscore the importance of being totally “mission aware”. Without a sense of our mission, the rest of the rules are meaningless.

The Story:

First, the story from the Memphis Belle: Leaving their airstrip on the English coast the crew of the B-17 Bomber Memphis Belle knew but one mission: drop their payload of bombs onto the target in Germany which had been assigned to them and the rest of their large flight-group.

As they flew towards the target, this singular sense of mission got them through the in-the-air machine-gun battles with enemy fighter aircraft and sustained them as the enemy anti-aircraft gun fire (“flak”) exploded around them as they neared their target. They knew their mission and they knew they were flying for a cause they believed in. They carried in their mind and hearts the people at home for whom they fought. (Rule 16: Know your mission and for whom you are flying).

When they neared the target, the pilot turned control of the plane over to the bombardier, who would use the sophisticated B-17 bomb-sight to guide the plane into the right position to drop the bombs and destroy the target. The Belle’s bombardier had a particularly heavy responsibility on this flight: because of the loss of another bomber, the Belle had become the lead bomber. The other bombers in the group would be cued to drop their payloads by the action of the Belle.

The cloud cover was so heavy over the target, however, that the bombardier could not see the target through his bomb-sight. The pilot, laser focused on the singular mission of the flight, made the decision not to drop the bombs on anything less than the primary target. He made the courageous decision to circle the aircraft and make a second run at accomplishing the mission. On the second pass, the bombardier was able to spot the target and the bombs were dropped successfully. Missions accomplished! (Rule 11: Stick with the mission – sometimes it requires two passes over the target before the bombs are dropped.)

Having successively completed the first mission, the Belle now had to realize a second mission: get its crew home alive! Suddenly, the crew was not flying for their country, but for their own lives. The 30-caliber machine guns, needed to defend their way into enemy airspace before the bombing run, became unnecessary dead-weight in the attempt to limp home. To lighten their load, the Belle crew threw some guns over board.

Their mission had gone from reaching a bombing target inside enemy territory to reaching home. They had gone from fighting for the cause, their country, to making it home alive. This change in mission required them to let go of assets that had helped them accomplish the prior mission. (Rule 19: The heavy guns needed for the mission may become dead weight for the next mission.)

Applying The Rules in Business: 

As my crew and I salvaged our software company and eventually sold it - we repeatedly had to stop, breathe and ask ourselves: what is our mission? For whom are we flying? Has the mission changed?

I was reminded of our first sense of mission last week when I attended a meeting of business mentors and ran into a partner at a large accounting firm. It was this same accounting firm that I had hired in 1998 to do an assessment of our company and help me with a strategy to reverse its downward direction. After several weeks of on-site investigation the firm handed me a $30,000 invoice with the advice: the only way to save this business is to fire 60% of its employees.

It was advice that I immediately knew I would not follow. It was short-sighted and had nothing to do with the mission I had been handed. My mission went beyond merely being able to pay debts when they were due. No, my mission was two-fold: (1) restore the value of the company for the benefit of its owners, and (2) protect the people – its employees – who were responsible for building the company. (That was one of the goals of its founders.) A dramatic 60% “rightsizing” would send the company into a tailspin from which it could not recover and our mission would fail.

As our conditions improved, our mission went from saving the company to growing the company. Pivotal in acheiving that growth was building a culture that recognized that we were “flying” a mission for our customers. We became zealots about customer satisfaction. We circulated a poster with a photograph of a mythic customer over the acronym: “WIIFM?” – meaning “What’s In It For Me?” That question – that reminder of our mission to satisfy the customer – kept our mission front and center.

Occasionally, while flying our corporate mission, I had to make the painful decision to fire someone, or demote them. This was never easy to do, especially when it involved a person that had been a key contributor and a friend. However, I’d bounce the situation off of Rule 19 – the resources we need for one mission can be wrong for the next mission – and I’d realize that the person hadn’t changed: it was the mission that had changed. This thought would force me to consider whether the person could be used on a different mission, more suited to the abilities and talents that had served them well in the prior mission. This application of the rule gave me confidence to do the things I had to do.

The Lessons:

And so, knowing the mission and sticking with the mission until it is completed are critical parts of being successful. However, equally important is knowing when there has been a change in mission and adapting accordingly. I was reminded of this in a print advertisement currently being run by MIT Sloan Executive Education. The ad (I saw it in the Financial Times)  shows a lizardly looking creature that looks like it has survived through many versions of our planet. Appearing in large type over the head of the lizard are these words: “It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change – Charles Darwin.” 

Know the mission. Achieve the mission. Be alert to changes in the mission. Adapt to new missions! 

–About Eric Lieberman: Eric Lieberman writes from his home in Evanston, Illinois and is available for comments and consultations and can be reached via e-mail. by writing ejlieberman@gmail.com.  Click here for Eric’s personal website and resume.

Leadership Caffeine for the New Week-Expect the Extraordinary

This week’s boost of leadership energy comes straight from one of my early career mentors.  This truly exceptional individual practiced leadership according to 5 simple handwritten rules that he kept posted on the wall in his office for everyone to see. 

These rules pointed to his True North as a leader, and were the first words that he would read every morning, right after securing his first of many cups of coffee for the day. They read…

5 Simple Rules To Be A Great Leader:

1.  Surround yourself with great people.

2.  Provide them with challenging opportunities.

3.  Expect the extraordinary.

4.  Work like crazy to provide support.

5.  Stay out of the way until you’re needed.

You could do much worse than follow the guidance inherent in those 32 simple words.  While they don’t explicitly encompass all leadership situations, it’s hard to imagine a circumstance that doesn’t lead back to one of the rules. 

I particularly love the part about Expecting the Extraordinary.  I’ve relied on that philosophy for most of my career and have rarely been disappointed.  It’s more than offering up empty words or disingenuous cheerleading.

Expecting the Extraordinary is much about showing confidence in an individual or a team and letting them know that they have the opportunity and your support to push the envelope on creating value, solving a problem, innovating and improving the business. 

My experience living by this philosophy taught me a few things about people and human nature that I’ve learned to employ  along with the 5 Simple Rules to great success:

  • Good people want to do great things.
  • Good people will go to amazing lengths for someone they respect. 
  • Those that aren’t good people expose themselves quickly.  (Get rid of them.)
  • You build followership faster by serving than commanding. (Although, people need to know that you can command.)

Frankly, only the most confident and capable of leaders are capable of living according to the 5 Simple Rules.  Most leaders make the mistake of thinking that it is all about them.  The best leaders got the memo that said otherwise.  

The Bottom-Line for this Week: 

If it helps, write down The 5 Rules for Leading and reference them frequently.  And pay special attention to #3, Expect the Extraordinary.  That one’s a sleeper, but it may just be the most important of all.  That is of course, if you are motivated to lead teams that do great things.

Now get on with your week and if you are truly courageous, dare to see what a difference 5 little rules can make

From Strategic Planning to Strategic Conversations

The McKinsey Quarterly (subscription required) just released the results of its latest survey on corporate strategic planning activities in an article entitled: Strategic Planning: Three tips for 2009. 

Key results include:

  • 47% of executives surveyed indicated that their strategic planning practices will be different this year than in prior years.  34% indicated that the activities would be “extremely different.”
  • The differences tend to focus on increased emphasis on scenario planning, conducting a broader range of analyses, and as you might expect, focusing on more of a short time horizon.
  • In what is likely good news for the malady that I described in my recent post, “Too many projects chasing too few resources,” one of the more widely reported changes for this period is an increase in the rigor of evaluating and approving capital projects.
  • As for monitoring execution, 50% of respondents plan on scrutinizing their firm’s/unit’s performance against the plan somewhere between weekly and monthly. 

The survey’s conclusion offers a cautionary tale on the potential for too much short-term focus, with the following:

“Important as these adjustments may be, their nature also raise a major question in the minds of many strategists: is the crisis atmosphere undermining focus on all but the immediate future? More than 50 percent of executives, in fact, express worry about not striking the right balance between near-term challenges and long-term strategic priorities. The perennial challenge of striking this balance has become particularly acute this year.”

From Planning to Conversations

You can set your watch by the fact that just as opening day in baseball rolls around, the articles on strategic planning start appearing.  I continue to rail at the notion that this is a seasonal activity, and am actually encouraged by the large number of firms that are planning on evaluating performance against plan monthly.  Hopefully, this evaluation is more than a distribution of reports, and involves opportunities to truly gauge progress, capture lessons-learned and make real-time adjustments.

While there is no doubt that strategic planning done right is a valuable management process and tool, in my opinion, we need to change both the vernacular and the approaches to move from strategic planning to conducting strategic conversations.  Frankly, I want everyone in my firm thinking, talking and relating their work activities to the firm’s strategies for creating customer value and thumping competitors. 

There are many potential pitfalls and poor practices that can derail even the best of intentions for strategic planning, and one of the most fatal is restricting the involvement in this process to a select few. 

And while I am neither naïve enough or idealistic enough to think that it is practical to have everyone actively involved in all planning sessions, I do believe that good leadership practices open up multi-directional dialogue about strategy and performance.

The best run companies that I’ve worked around ensure that employees pass the “Walk In the Door” test…they can connect their priorities to the firm’s priorities every day that they walk in the door.  They also ensure that there are ample opportunities for employees to share ideas, capture lessons-learned, reflect on Voice of Customer and suggest adjustments to execution or even to strategy. 

The people in these environments engage in strategic conversations that ensure that the emperor knows if he has no clothes on and that challenge potentially bone-headed ideas or the poor execution practices that derail good ideas. 

Charan and Bossidy call this Robust Dialogue.  I describe it as a healthy feedback culture, filled with leaders at all levels that get the fact that their chances of success are enhanced if they park their egos at the door and promote and encourage widespread involvement.

Realizing a culture where strategic conversations are prevalent and effective takes hard work on the part of those that lead.  Of course, no one said that being a good leader was easy. 

How healthy and frequent are the strategic conversations in your firm?

The April 15th Carnival of HR (It’s all about Talent!)

Thanks to the great team at the Maximize Possibility blog, the April 15th Carnival includes a fantastic collection of posts from some of the leading minds in talent.  Oh, and it even includes one of mine!  

Seriously, I love the Carnivals as a way to bring together a lot of compelling ideas in one location, and we are all beneficiaries! Enjoy the reads and don’t forget to subscribe to your favorite talent bloggers.

Thanks to Chris and Jacob for putting this together.  

-Art