How to Achieve Sustainable Growth in a High-Inflation Environment

As high-interest rates and inflation dominate headlines, angel investors and private equity firms alike are on the lookout for lucrative returns. In this increasingly challenging financial landscape, businesses must prioritise profitability and sustainability to thrive. One key to unlocking this potential is embracing the transformative power of AI, smart agents, and low/no code development, which allows for a 10x productivity revolution.

Here are four crucial strategies for businesses to succeed in today’s high-inflation environment:

1. Solidify business plans: With investors scrutinising every detail, businesses must present robust, well-researched plans demonstrating a clear path to profitability, not just growth. Incorporate the latest advancements in AI and smart agents to optimise operations and drive efficiency.

2. Update & develop relevant product roadmaps: As AI and smart agents become ubiquitous in the next five years, businesses must ensure their product roadmaps align with this reality. Focus on creating innovative solutions that leverage AI and smart agent technologies to meet customer needs and stay ahead of the competition. Its highly likey your mid-term roadmap needs to change if it has not already.

3. Embrace the 10x productivity revolution: AI and smart agents have the potential to unlock a 10x increase in productivity. By adopting these technologies, businesses can optimise processes, enhance customer experiences, and maximise value creation amid inflationary pressures.

4. Prioritise profitable and sustainable growth: It’s essential to focus on business fundamentals. By ensuring sustainable growth and profitability, businesses can better navigate economic challenges and attract the interest of investors seeking dependable returns.

Businesses must adapt to the rapidly changing economic landscape by focusing on solid business plans and relevant product roadmaps and embracing the 10x productivity revolution driven by AI, smart agents and low/no-code development.

#AI #SmartAgents #Inflation #BusinessGrowth #Sustainability #10xProductivity #Profitability #Innovation #AngelInvestors #PrivateEquity

The Human Condition: Why we kill productivity

Day dreaming

Understanding the complexities of the human condition is crucial in pursuing the 10x productivity revolution. The human condition has been explored by many philosophers, artists, and writers throughout history, including existentialist philosophers like Friedrich Nietzsche, Jean-Paul Sartre, and Martin Heidegger. It involves a deep understanding of the nature of humanity and the purpose of existence. Having a deeper understanding of the human condition can help individuals navigate their own emotional experiences and develop resilience in the face of life’s difficulties, providing a more profound sense of connection to others, a greater appreciation for the challenges and rewards of life, and a clearer sense of purpose and meaning in one’s own life.

In addition to the benefits of understanding the human condition, it is essential to recognise and address cognitive biases that can negatively impact productivity. Biases such as confirmation bias, where we seek out information that confirms our preexisting beliefs, or the sunk cost fallacy, where we continue investing time and resources in a project that is not delivering results, can lead to irrational decisions and unproductive behaviours. These biases are common among all individuals, including knowledge workers, and can be particularly damaging to productivity in the workplace.

Another factor that can negatively impact productivity is the ubiquity of technology, including smartphones and social media. Our natural tendency is to be easily distracted and seek immediate gratification, and these technologies can exacerbate those tendencies. Parents need to consider screen time for children and young adults, with one in four (23%) demonstrating addict behaviours, ranging from 10-30% across the different studies. By being mindful of where we spend our time and identifying any negative productivity aspects, we can work to overcome these distractions.

The pursuit of the 10x productivity revolution requires a deep understanding of the human condition, an awareness of cognitive biases, and a mindful approach to the use of technology. By recognising and addressing these factors, we can improve our decision-making and increase our productivity, both as individuals and as organisations.

#humancondition #cognitivebiases #technology #productivityrevolution #10xHero #dalle

Embracing Experimentation, Validated Learning, and “Pirate metrics” to drive 10x Productivity

As a product manager and Chief Product Officer, I’ve learned that the key to productivity is not more resources, but rather a smaller, more talented team with specialist knowledge in software development frameworks. Embracing experimentation, validated learning, and “Pirate metrics” can also lead to greater productivity.

To become a 10x productivity hero, it’s important to understand what makes teams productive at different stages of the product and business lifecycle and to minimise waste by recognizing the benefits of smaller teams. Follow the “2 pizza box rule” on team size as a good rule of thumb.

Coordination and communication become crucial in larger teams, especially when not co-located. And remember that becoming a 10x programmer is not about doing an order of magnitude more work, but by making better decisions an order of magnitude more often.

Join the 10x productivity revolution by following my blog for more insights on increasing productivity and becoming a productivity hero in your organisation. My book will be out in early march.

#ProductivityRevolution #10xhero #specialistknowledge #validatedlearning #coordination #communication #2pizzaboxrule #productivitytips #dalle

Unlocking the Secret to Sustainable Future: What Every CEO Needs to Know?

The call for sustainability is growing louder every day, and companies are taking notice. With the number of Chief Sustainability Officers in the Fortune 500 reaching 95 in 2020, it’s clear that organizations are taking this matter seriously.

But, did you know that the key to achieving sustainability lies within productivity? Yes, you heard that right. The concept of “doing more with less” is at the core of sustainability and productivity. And the way to achieve this? By embracing an adaptive agile mindset.

At the heart of every sustainability effort is the need to reduce waste. By approaching sustainability with an adaptive agile constraint-based mindset, organizations can deliver sustainability as a low-cost, high-value outcome. The irony is that as teams grow larger than a few individuals, productivity decreases dramatically. This is why the “2 pizza box” approach to agile software teams holds true.

Constraints drive creativity and innovation. Take Steve Jobs’ famous example with the iPod – he dropped it in water and saw air bubbles coming out, which led him to say, “Those are air bubbles. That means there’s space in there. Make it smaller.” The constraint led to a better product. Similarly, constraints in the software development world, like non-functional requirements, often drive better design, marketecture, and architecture choices. The Blue Ocean strategy canvas even encourages looking at what to remove or reduce to create value.

For business leaders to truly leverage this way of thinking, productivity must hold more weight than growth alone. Private equity-backed businesses may not agree, but they do understand the importance of reducing costs and doing more with less.

Transforming organizations and building sustainable products doesn’t have to come at a higher cost to the business or the environment. And every C-suite executive looking to achieve sustainability within their organization should look to organizational agility and a 10x productivity shift to make this happen.

Would you be ready to lead the charge? Keep an eye out for my new book, 10x Productivity Revolution, where I will guide you on your journey to becoming a sustainable productivity hero in your organization.

#productivity #futureofwork #leadership #10xproductivity #ai #10xTheProductivityRevolution #agile #adaptiveleadership #CEO #dalle

How to deliver 10X productivity (Part II) for Knowledge workers?

Part 2 of a 3 part essay on the future of work in a post COVID-19 World. 

As we discussed last time, in order for 10x productivity not to be just a pipe dream for your organisation, the four different types of knowledge work that you and your employees wrestle with every day need to start working for you, and not against you. In the second of my three-part essay on the future of work in a post Covid-19 world, I’m going to be examining four key areas that demand your focus if we are to move forward towards 10x productivity. Interestingly each also relates to a question, Why, Who, How, What and although I don’t discuss when, timing is always a critical aspect of being productive.  

Purpose – Why 

An organisation’s big purpose, its why, mission, vision, is supported by many smaller purposes, which in turn are supported by its knowledge workers. These smaller purposes make up all the different objectives that when optimally aligned, keep the organisation productive. So, a clear and defined purpose, big or small, with clear and defined objectives, is key for a high performing organisation. A major part of this is down to clarity decreasing waste, which therefore increases time for problem solving work, which in turn engages employees, and if you can turn that engagement into inspiration, it’s been shown that employees who are inspired can be 125% more productive (source: HBR). Yes, that 125%.  So, purpose deals with two essential needs – clarification of work and workforce inspiration. One is tangible, the other less so. The level of increased productivity between highly motivated and unmotivated members of staff has been shown to be significant (source: Forbes). Problematic levels of motivation during the Covid-19 pandemic have been widely reported such as with video conference fatigue, demonstrating these challenges in a very real ways. Bestselling author and motivational speaker, Simon Sinek is quoted as saying, ‘There are only two ways to influence human behaviour: you can manipulate it, or you can inspire it’. In the third part of my trio of essays, I’ll be discussing how new ways of working can help turn engagement into this ever-illusive inspiration.  

People and Connections – Who

If you can’t describe what you are doing as a process, you don’t know what you’re doing’ – 

W. E. Deming, engineer, author, and management consultant. 

Work stems from people and for the most part, it is done by people. Concepts like work in progress (WIP) limits can help staff manage their workload and work optimally. However, this concept is not widely adopted outside of the automotive and some manufacturing industries. The switching costs, switching from one type of work to another (reactive, planning, procedural), should not be underestimated and has a significant impact on the most productive type of knowledge work; problem solving. Switching costs therefore impact on peoples’ ability to get into a state of flow and deliver quality pieces of work. Flow is the concept of being in the moment. Everyone has experienced flow at different times in their life. It’s when your brain is firing on all cylinders, you see connections and possibilities that weren’t there before, and when you remember to check the time, inexplicably, hours have passed. This is not because you haven’t been paying attention, but because you were in a state of flow. Distraction is the enemy of flow, and yet we allow email and instant messaging to fuel our work worlds and continually interrupt us, making it harder than ever to get into this state.  Work stems from people. At least at the moment for the most part. Artificial intelligence has the potential to change this, but more on that later.   Businesses are like living beings, they react to stimuli. When change happens, the effects ripple throughout the entire organisation; and if the change is not managed efficiently this can result in wasted time and energy, a bit like a stubbed toe turning into a broken foot. And just like a living being, the knowledge contained within an organisation needs care and attention as it’s not just held in files and folders. How information is exchanged around a business depends on connections, and the standard of these connections will impact on productivity.  You can’t stop an employee from leaving, but you can provide clear connected pathways to ensure that the knowledge in their head remains within the organisation. And the knowledge workers that remain need to understand how their work impacts and contributes to the whole. The McKinsey Global Institute has shown that productivity improves by 20 – 25% in businesses with highly connected people. Communication, be it face to face, software, though API’s or middleware; much of it stems from its tools and processes which are often narrowly focused within an organisational silo. Increasing and improving the connectivity, therefore increases and improves productivity. However, 74 percent of employees say they miss out on crucial company communication (Source: Mindshare), which should make you wonder just what else your business is missing out on.  

Process – How

The next fundamental block is process. Although many of us may not realise it, every piece of work we do has a process. This could just be the way you’ve always done it, it might be notes or tasks you create, or it might be a clearly documented process that every employee is required to follow. But all work has a process behind it.  Great organisations recognise this and invest in documenting and optimising their processes creating standard operating procedures and target operating procedures. They use continuous improvement to identify and deliver better ways of working. It’s through this work, core competencies can be established and used for significant competitive advantage. Great examples of this would be General Electric, and SONY who are both well known for their use of ‘Playbooks’ and six sigma to define their process.  Unfortunately, the vast majority of businesses don’t have clear processes, instead they rely on recruiting smart people and letting them do it their way. This can work, but when people leave, the owner of the process leaves too, and so does the institutional intelligence they brought with them.  

The Message – What 

But if you want successful connections, you will also need to get the messaging right. In fact, if any of the above fundamental blocks are to work efficiently, it all comes down to the messaging. Messages are everywhere in our modern world, from the 280 character tweet, to the hefty documents we use to educate and inform. Organisations rely on sound bites, press releases, meeting minutes, sales decks, emails, IMs, FAQ sheets, the list goes on and on. Message creation, and then subsequent message updates can result in organisational waste if the initial clarity is lacking. The creation of assets left unadopted by teams across an organisation, or a message so jumbled that every employee interprets it differently, are all stumbling blocks to productivity. Simply put, messaging is knowledge sharing and knowledge management, and unless a business has invested in the right communication tools, as the organisation grows, any messaging problems, and therefore hindrances of attaining 10x productivity, grow with it.  Traditional ways of working are evolving, we didn’t need a pandemic to show us that, but maybe it’s taken one to make us see where the fault lines our in our companies and organisations lie. In my final essay, I will be pulling everything together and showing how the application of artificial intelligence is the next stage in the 10x productivity revolution.