Engineer | Consultant | Senior Manager | Director | VP | MD | CEO | CMO
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Here's what you need to figure out for a successful transition to a new space:
What success looks like…in that context
Incentives to get what you what want ..in that context
Being a shape shifter is hard, but not shifting shape is harder
SELF-AWARENESS IS YOUR PROTECTION
To be a great operator, you have to:
Raise difficult issues without being difficult to work with
Bring up important topics without drawing importance to yourself
You are in charge of getting the decisions made but not making all the decisions
Master Yourself, (it is even better to) understand others
If you don't know your MBTI, find out ASAP
OWN YOUR POINT OF VIEW
Know your POV/approach to operating, so you can repeat it, repetition allows you to hone your skill and build credibility - rinse and repeat
What is your Ikigai?
I found mine - it took a lot of personal reflection, conversations, and looking at my past work - I design, (re)build and scale two-sided/tech platform businesses
This means I tend to frequently work on:
partnership
mobile technology
access to millions to consumers
monetization / revenue growth
"WHAT IF" and "THEN WHAT"
The difference between a good operator and great one is second-order thinking
Always ask….'what if' and 'then what'
First-order thinking is quick and straightforward. Second-order thinking, on the other hand, is more future-facing, intentional, and multi-dimensional.
It's about finding balance between thinking and doing
….Even ordering lunch can be harder in a different environment….
The difference between success and failure lies, actually, in the compound effect of decisions made by your team
TALENT
You're one conversation away from great talent
Don't wait till you need talent to start looking
Great potential operators stand out - you can see this anywhere e.g. :
Bias for action
Clarity of thought
Initiative
I hired the Migo team from the best of the last 10 years of great conversations in random places - they continue to work and play together
SHOW, DON'T TELL
Sometimes, your audience can be hostile to you / your POV
Skeptics, Haters, Risk-Avoiders, Those that don't 'Get It', The Biased
To be a great Operator, you have to push past all that resistance without overtly persuading or instructing
Use data, where your word is not enough so that people figure out the implications for themselves
TO MAKE MONEY, YOU MUST UNDERSTAND RISK
This is based on the Discovery-Driven Planning framework by Rita McGrath
Market Risk and Execution Risk hinder your ability to meet your initiatives/goals
Execution Risk = Can your organization deliver the product in a predictable manner?
Market Risk = Is there demand? Do your customers want it? Are they willing to pay?
It takes time to figure out where your product is in this matrix
Where you have to manage or ship multiple initiatives to meet goals, you have to manage them according to their respective risk and apportion your revenue expectations accordingly
When I allotted a +75% revenue expectation from the products that my team and I understood the most (low-low risk) we focused appropriately
UNDERSTAND INCENTIVES TO INFLUENCE THE OUTCOMES YOU WANT
You make a plan, and expect an outcome, but human beings are full of surprises
Not all incentives are have an immediate financial impact, they can be knowledge-based
If you do not understand incentives, misalignment is not only possible, it is likely
WIN-WIN NEGOTIATIONS
The key to a successful negotiation is:
Making Leverage work for You!
1)You have to have it: Proprietary tech; Specialized knowledge; Exclusive relationships; Better products / services
2) You have to know how to use it: Is it urgent for them? Does it alleviate a problem they have? Do you understand how your solution addresses their problem(s)?
3) Don't look desperate. Do your best to appear confident