From failure to success? #success & #startups

Most succesful startup companies have experienced failures. This is nothing new. But what is it that makes the good ones come back again and again? Well, perseverance, courage, dedication and good old-fashioned hard-work are some of the ingredients. And perhaps most of all the ability to learn from their mistakes. 

I have been so fortunate to be involved with some young entrepreneurs - in the best way possible. And this is continuing  to be an inspiration to me. Why, you might ask? Well, because their energy levels are high, their courage enormous and the sheer engagement shines in their eyes. They are passionate people, passionate about their idea and perhaps their future success. And they are not afraid of failing - or if they are, then they overcome it. That is so inspiring to see, because it is such a human trait to be afraid of failing, more than to aim for success. 

Maybe there is a cultural element in entrepreneurship? I have noticed that startups in the States, in Iceland and in China have more guts and just go for it. Many European countries - and not least the Nordic have a more laid-back attitude towards entrepreneurship. Perhaps because we have a different welfare-system that takes care of us if we fail. So we are not as gutsy or a devoted. Of course this is a tough generalization of whole nations, but I do think there is some truth to it.

In Greenland we do not have a startup culture. We have a welfare culture, where the State takes care of us from birth to death, and it so limits us to take the necessary steps to become an entrepreneur. So how to change that. Culture is not something you change overnight. 

My best bid is to start all the way down in the elementary school - to build character, to challenge, to have competition and to focus on the individual and group responsibility. We need good role models, we need young "guns" that are willing to fight, to work hard and to endure. So yes, basically we need to build a capacity to even have young entrepreneurs succeed, since our entire system is not build for that.

Do you have good ideas from your society? From you surroundings?  Please share with me here!

How you DO the talking #talkervs.doer & #theWHY

This was a question asked by a reader on a previous blog:

I would like to request a blog post on how you did your TALKING, in order to motivate people to be DOING as a leader. I know you have written about trust in "Trust is everything" (15th of September), but perhaps an article on how you DO the talking more specifically.

So here I go:

I believe in trust - on so many levels. If you trust someone, then you also want to confide in them, to share you thoughts and ideas, to discuss with them and to be completely honest. I guess this is not news to anyone who have experienced the opposite - either at home, at work or with friends. So a MUST is to establish some form of trust between you and the people you want to move in one direction or another. 

I think my very first and foremost action is spending enough time with people around me to have them trust me. That goes for everyone I meet. In a company, privately or even during a coaching session. I try to let people have a sense of who I am - and hopefully they will like what they hear, see and feel. I am also a strong believer in authenticity. I believe that people can FEEL if you are being true or not. In leadership I think this is crucial. So I speak from the heart, also when it is not popular, when I have made a mistake - and apologizes. 

In order to really address the question from the beginning, then this is the core. Of course it is easier said than done. But my core values are: respect for others, personal integrity, freedom, openness and honesty. Those values goes hand in hand with creating trust. And if people trust you, have a sense of who you are and feel your authenticity, then they also start to discuss with you. And the topics that really matter to them. Not just some bullshit management, hearsay or flip-flop talk. No they actually start sharing with you - and hopefully the colleagues what their biggest dreams, hopes, worries and very specific daily problems they are struggling with. When a large group of people begin to adapt that kind of behavior it spreads like you wouldn't believe. People WANT to trust each other. I guess they are just so used to management bullshit, hidden agendas and lack of personal involvement.

A trick - or rather a strategy - I use is a lot of meetings. Meetings with entire departments without their bosses present. Meetings with all the leaders across the organization. Morning meetings with all staff in the company. And lot's of blogging about not just WHAT we want to achieve, but WHY! I am such a sucker for Simon Sinek - and his very direct approach to address the WHY.

I do not know if I have answered the question that initiated the blog, but I hope that I have shed some light onto how I see this. The Talking vs. Doing. Basically: trust, authenticity, clear values, direction and heavy involvement. Try it out, you will be amazed what you can achieve.

What is failing? #nottrying #guts

Have you ever thought about what failing is? So many times in my life I have not been able to achieve the exact goals I have set out to reach.  I know that I am stubborn and hard-working, so I guess other people also experience failure. To me is important to do you best, to fight and not give up to easily. If you really, really try - and then fail, then it is easier to accept your failure.

I have experienced to fail in my job, in my sport and in my private life. Not one single time I found it easy to accept. But I have sure learned from my failures and mistakes. I would even go so far to say that it has made me the person I am today. I continue to fail in some of the things or activities I embark on, but now I am more aware of the possibility of failure without being to influenced by it. I think failure is a part of life itself - and as long as your MINDSET is positive, then you will learn from your failures.

Culture eats strategy for breakfast →

Recently I had the opportunity to talk to business leaders first in Denmark and then in Gibraltar. The topic was change management and how culture influences on the ability to implement strategy in a company. To the best of my knowledge culture in a company is the single most important factor in any transformation process. In my opinion you can not move a company through a huge transformation without both understanding the current culture in the company and the underlying dynamics in the organization. From what I have seen in a lot of other companies most Management does not take this serious enough, which incidentally can explain why a lot of strategies ends up not being implemented. 

I believe in teamwork, I believe in transparency, I believe in empowerment of the individual in an organization. And I sincerely believe a lot can be accomplished if you have an OPEN and DIRECT feedback culture in the company. If it is not there - then create it! Imagine what kind of energy that can be released if every individual have a strong sense of commitment, understanding of direction AND motivation to make a difference. THAT creates a strong culture.

I use simple tools to enhance group dynamics, which I will go into in another blog. It works and it creates engaged colleagues and commitment across organizational boundaries. Interested? Then write to me.

What are the challenges in your industry?

A lot of business models are under attack and the big question is HOW the different sectors will adjust to this. I have a background in the Airline industry, which has been riveted with changes over the past decade. New business models from lowcost carriers with dramatic revenue drop as a result, point of sale changes because of the internet as the main sales channel, huge impacts from the 9/11 event, the Financiel crisis and continuing increased taxation from the airports and vendors. During some talks with a good friend and ex-colleague from the airline industry, I found out that all these changes and adjustment to changes have made a big impact on how I view changes in the environment. Now that I have gone into the Telekom sector I can see that my new industry are about to go into the exact same dramatic change - and that it will require the incumbent Telcos to make equally dramatic changes in their business models. So tools like revenue optimization and dynamic pricing schemes will be a necessity if the "old" dinasour Telcos want to survive. OTT players like Whatsapp, Skype, Facebook will take a stronger foothold in the market and bypass the Incumbents business models that typically charge minuts and not data. Interesting how you are able to look at structural changes from one industry to another, which incidently is the big consultancy companies thrieve on.
How do you see the challenges in YOUR industry? And are you learning from another industry that are experiencing major structural changes?