Business X factors

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Is it possible to create an organizational culture before you even have a company? Raj De Datta, Co-Founder and CEO of Bloomreach, explains that he developed the cultural framework for Bloomreach before the company launched.

Tune in to learn:

How customer personalization changes everything (11:50)
The importance of frank conversations in leadership (13:48)
The Flywheel Effect and how it works in business (19:40)
Why do winners win and losers lose? (22:00)

Business X factors is produced by Mission.org. Mission.org is a media studio producing content for world-class clients. Learn more at http://mission.org

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Is it possible that a CEO can get duped into running a company? Joe Walsh, Chairman and CEO of Thryv, shares how he ended up holding the reins of a historic company to pivot it from its phone book past to providing a digital platform that helps small businesses thrive.

Tune in to learn:

How a varied education can set you up for success (4:20)
How to look in unconventional spaces for untapped revenue (14:30)
Why a unified team is always a stronger one (17:50)

Business X factors is produced by Mission.org. Mission.org is a media studio producing content for world-class clients. Learn more at http://mission.org

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Jim Kavanaugh knows a thing or two about rising to the occasion. As the CEO and Co-Founder of World Wide Technology – an organization that provides global technology solutions and services – he’s had to prove his mettle more than once. Tune in to this episode of Business X factors to hear about how this St. Louis-based company became a global tech leader, and why Jim Kavanaugh believes the best leaders are the ones forged in fire.

Tune in to learn:

Why a “go get it” attitude is one you can create (4:00)
How choosing your team wisely is a smart long-game move (13:45)
Identifying where the puck is going in the digital landscape (21:00)
How to create a diverse organization in the best ways to make everyone better (26:00)

Business X factors is produced by Mission.org

Mission.org is a media studio producing content for world-class clients. Learn more at

http://mission.org

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Software applications are used by people like you and me. Therefore, shouldn't humans all over the world test them before they launch? Chris Malone, the CEO of Applause, explains how the Applause platform activates a community of experts to ensure applications will truly serve their users.

Tune in to learn:

How to bring the power of software into the hands of consumers (8:30)
What does Game Theory have to do with business? (9:49)
What are the pros and cons of the gig economy? (14:20)
What is the right way to win? (20:53)

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to http://www.Hyland.com/insights to learn more.

Mission.org is a media studio producing content for world-class clients. Learn more at

http://mission.org

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A team that’s divided will, ultimately, not be successful. Kevin Haverty, Senior Advisor to the CEO at ServiceNow, reveals that a unified team, as well as a unified product, will earn big wins.

Tune in to learn:

How do you unify a large corporate team? (10:00)
What does “interconnectedness” look like across departments? (12:15)
What methods did ServiceNow use for organic growth? (15:00)
What is next for cloud-based task streaming? (21:21)

Mentions:

APA Article: What makes for a great team?

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to http://www.Hyland.com/insights to learn more.

Mission.org is a media studio producing content for world-class clients. Learn more at

http://mission.org

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For more than twenty years, Jim Ryan has helped shepherd Flexera, a global software company, into massive success. How has he managed to help keep core values in the midst of expansion? He stops by Business X factors to talk about scaling with integrity, following the money, and why bureaucracy might not be a dirty word, after all.

Tune in to learn:

How do you simplify complexity? (8:11)
How is technology just like electricity? (10:18)
What does it take to reduce IT spend? (11:50)
What is the human touch you need when looking at IT spend? (13:00)
How to bring technological innovation into your organization. (15:00)
Where will the technological landscape be in 10 years? (17:00)
Which scaling cliches actually have truth behind them? (18:50)

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to http://www.Hyland.com/insights to learn more.

Mission.org is a media studio producing content for world-class clients. Learn more at http://mission.org

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Magic often connotes supernatural powers. In the case of Equinix, magic is an outward manifestation of its work to connect the world that is then internalized into the culture of the company. Equinix’s magic may be super but it is certainly grounded in a positivistic, human value. On this episode, Jon Lin, Executive Vice President and General Manager, Data Center Services & President, Americas at Equinix, reveals Equinix’s most powerful magical quality.

Tune in to learn:

What does it look like to work at Verizon at the beginning of the tech boom? (4:45)
How can you move from a result-oriented mindset to a servant-leadership mindset? (8:00)
How does interconnection change the game for clients? (09:00)
What does an egalitarian approach to internet access look like? (10:55)
How do you maintain a healthy corporate culture? (12:00)
What is “the Magic of Equinix”? (13:45)
How can a company address mental health? (15:00)
What does empathy look like on a global scale? (17:00)

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to http://www.Hyland.com/insights to learn more.

Mission.org is a media studio producing content for world-class clients. Learn more at http://mission.org

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Transforming organizational communication can be tricky. It requires an all-in truth and trust effort from everyone involved. In this episode, Robert Glazer, the Founder and Chairman of the Board of Acceleration Partners, discusses how to craft a culture built on “respectful authenticity.”

Tune in to learn:

Can you be honest with your employer? (0:12)
What to do when you get to the level of burnout. (7:48)
Some of the biggest lessons about hiring. (10:10)
What is the value of affiliate marketing? (12:11)
Where should trust fit into your operating strategy with customers and employees? (17:46)
What is the equation that leads to a healthy organization? (19:38)

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

Mission.org is a media studio producing content for world-class clients. Learn more at

mission.org.

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The notion of self-awareness may bring to mind an image of a highly conscious individual meditating on a mountaintop — I’m sure we’d all love to be in that spot right now – taking deep breaths. It’s a nice picture, but self-awareness is not only for exceptional people in an amazingly beautiful environment. In simple terms, self-awareness means to know oneself, and it’s possible that this greater knowing can - and should - occur every day, both personally and in business.

On this episode of Business X factors, David Spitz, the CEO of ChannelAdvisor, gives a sense of how ChannelAdvisor was ideally situated to grow alongside the blossoming ecommerce industry. He also shares how self-awareness can lead to making intuitive decisions.

Main takeaways:

Timing is Almost Everything: We often do not appreciate sufficiently how timing can make a substantial difference in life. For Spitz, his family bought a computer when acces to these machines was only beginning to come into the consciousness of some families in America. The access to this early computer was instrumental to the course Spitz’s life took.
Knowing Oneself: Spitz discusses having “an irrational fear of failure.” This is surprising because many entrepreneurs and business leaders focus on accepting failure. Spitz makes the point that this self-knowledge allows him to make calibrations in how he responds to certain situations. Knowing oneself allows a leader, and even a company, to make better decisions.
Seeing the Connections: A leader can drill down into one area due to what feels like a necessarily intense, narrow focus. According to Spitz, taking a broader view across disciplines can help one see the connections between them. A pattern can then emerge that helps to fuel intuition concerning decisions that otherwise may not be clear cut. These frameworks can act like guides to inform decisions.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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To be successful in business, whether founding a new company or climbing the ladder at one that’s already established, a person has to have a clear motivation. This is also true for a company. The question becomes: What is the strongest motivation for action? Is it ambition? Is it the desire for wealth? Could the answer really be… love?

On this episode of Business X factors, find out how a central value of love can motivate an individual and perhaps even an entire company. Jamie Farrell, the Chief Revenue Officer at Emeritus, explains how operating from a place of love is a core value of hers and how it may be a motivating force for Emeritus too. She chats about her own passion for education and how she determines if potential teammates have a sincere interest in learning. Jamie also discusses the importance of truly demonstrating to people that they are cared about through one’s actions.

Main takeaways:

Love as Making a Positive Difference: There can be a tendency at both the personal and business level to avoid talking about love. Perhaps this is because defining love often feels like trying to hit a moving target. That said, an integral part of love is acting to care for others. Farrell explains that Emeritus’s Founder and CEO, Ashwin Damera, defines his success, and that of the company, by how many lives they positively change. Love can be an incredible motivator and it ought to not be dismissed.
Placing a Number of Bets: Farrell describes how Emeritus’s business model is different from others. Some companies narrow in on one thing that they do well and then grow that particular business. Alternatively, according to Farrell, Emeritus adds new businesses to its fold to generate opportunities for more learners. Farrell points out that this does increase risk. Of course, greater risk can also mean more reward if the additional business bets prove correct.
Global Affordability Plus Access = Success: From Farrell’s perspective lots of education companies talk about providing education at a reasonable cost while also increasing paths to learning. She points out that Emeritus does have a tiered cost for a number of learning products but she describes the mentality about language as breaking the typical mold. Emeritus turns its courses into a variety of languages so that learners all over the world can get involved. The takeaway here is that it is important to think globally and to meet customers on their terms and in their languages.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more

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Identity management issues are difficult for enterprise companies and for consumers. According to Javelin’s 2021 Identity Fraud Study, there was 43 billion dollars worth of identity fraud scams in 2020. Small business owners to c-suite execs are all looking for the answer to security and simplicity, especially in the face of the enemies — bad actors and security systems that are too complicated to use. Everyone wants an answer, but perhaps the first step to a solution is for an identity management company to engage in an ongoing process of active listening.

On this episode of Business X factors, Fran Rosch, the CEO of ForgeRock, shares how ForgeRock, under his leadership, has developed a perpetual process to innovate toward solutions where customers do not have to compromise user experience or security. He reveals how this process includes listening, making decisions and then acting accordingly. Fran also chats about how ForgeRock does more than loftily talk about creativity; instead, it invests in the creative process, including ensuring its people are truly able to be creative.

Main Takeaways:

A Perpetual Refining Process: When Rosch joined ForgeRock, he initiated “Project Rocket,” which was a process to activate change in the company. The process involved listening, making determinations, and then acting on them. The lesson here is not that a new CEO had an initial strategy in order to provide a jolt to a company. Instead, it is that “Project Rocket” has morphed into an ongoing process for ForgeRock’s self-reflection and improvement.
Think About Creative Investment: Many companies talk a good game about establishing a creative environment, but some don’t back up these words with actions. Rosch contends that creativity must be something that is actually invested in. Additionally, according to Rosch, supporting creativity is about setting up a culture where people are being listened to and helpful questions are also being asked.
Diversity Is Key: Diversifying a workforce is imperative for a healthy culture and company, and there are many ways to consider diversity. Rosch speaks about fostering a “diversity of ideas,” and this includes gathering a team from many different backgrounds and experiences. He mentions that this sort of diversity is about getting ”creative ideas on the table.” Diversity and creativity are interconnected and they must both be considered in that manner.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more

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Outsourcing can be an ominous-sounding word. So can technology — especially if these words come to be associated with people losing their jobs. “The Future of Jobs Report 2020,” by the World Economic Forum, suggested that by 2025, 85 million jobs could be shifted over to machines, but, in exchange, 97 million new jobs might be created. Even if more jobs enter the economy overall, a labor force change of that magnitude can be disconcerting.

Navigating that changing landscape requires new ideas, new systems and new companies. Which brings us to another word that can be frightening — outsiders. If people are on the outside of a system, maybe they’ve been put there for a justifiable reason, right? As any underdog story will tell you, that assumption is far from reality.

Bryce Maddock is the Co-Founder and CEO of TaskUs, an outsourcing company that has had a winding path from living on the outside of the tech and investment circles to having an international reach, more than 30,000 employees, and using an ideal blend of tech and humanity to serve customers around the world. Find out on Business X factors just how this company that started out as an underdog became successful and how its outside perspective offers hidden advantages.

Main takeaways:

A Slow Start Can Be a Blessing: When Bryce and Jasper got started, they were barely surviving. Unlike other start-ups, they didn’t explode. They didn’t have investors pouring money into their ventures left and right. In fact, they couldn’t even afford to pay themselves a salary. But that was one thing that Bryce cites as a moment he wouldn’t trade – it made them very disciplined. In an industry full of jets and champagne and extravagance, they learned restraint – a lesson they’ve kept even as they’ve grown. Even if you have the ability to spend a lot up front… it is wise to act as though you don’t. Pretend you’re broke, and you might avoid actually being broke.
Narrow Your Scope: It might be counter-intuitive, but saying no can be just as powerful as saying yes. When you’re just starting, it’s easy to want to agree to take every job, no matter how big, small, or fringe. However, this strategy has a downside: it may stretch your resources too thin. It might take you into waters where your expertise can’t shine the way you need it to when you’re just starting out. Narrowing your scope means picking the projects you know you can deliver on. The ones that make it so that you can show the full extent of what your business has to offer. It might mean less capital up front, but having a strong portfolio and reputation will yield stronger returns in the long run.
People First: It’s easy to let business be all about the numbers. After all, a new venture can’t succeed if the numbers don’t make sense. But investing in people will never be a waste of time. Curating a culture that cares about its workers means that more people will want to work for you, and the ones that do will want to stay.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more

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Relatively successful businesses know the regulations in their industries and develop processes to work within them. So, they play a status quo-style of the game to some success. But game-changing businesses know the rules so well they actually play the game differently. They play boldly to win big and to scale.

Rocket Companies is now a number of business entities, including Rocket Mortgage. At the beginning, however, two brothers, Dan and Gary Gilbert, co-founded Rock Financial to be a mortgage brokerage business. Early on there was only a small number of employees and now there are 26,000 across a variety of companies. Bob Walters, CEO of Rocket Mortgage and President and Chief Operating Officer of Rocket Companies, rose through the ranks, and on this episode of Business X factors, he shares the mentality he learned along the way that allowed Rocket Companies to make new rules for the game.

Main takeaways:

Remote Possibilities: According to Walters, two big bets on remote opportunities have led to Rocket Companies’ success. The first was when Rock Financial created a mortgage product that could be mailed called “Mortgage In A Box.” Later on, the second was a push, led by Dan Gilbert, to move on from a brick-and-mortar model to lean into the internet to connect to customers. This effort ultimately led to the fully online mortgage experience offered by Rocket Mortgage. Walters describes that some saw the chance of having success by implementing an online strategy as remote. The lesson here is to trust one’s instinct. Especially today, there are many opportunities to innovate with both distance and digital in mind.
Smart Simplicity: Walters discusses how some people seem to enjoy talking in complex terms, but that mentality can be self-serving. He makes the case that a higher level is to take something that is complicated and then work diligently to make it simple for other people to understand.
Making New Rules: To work within a regulated industry, it’s necessary to fully appreciate the rules. But it’s also possible to know the rules so well that a company can decide to play the game differently. Walters shares how Rocket Companies has continuously adjusted the game to cater to customers while scaling. Moreover, he suggests that they have redefined the very notion of profitability to include making a substantial, constructive impact on communities and people that can use a boost.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more

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One look at the news today will tell you the world is facing a whole host of problems: from political upheaval to the socio-economic effects of Covid-19 all the way to climate change – it’s pretty clear we have a lot of work to do. At times, it can really feel like we’re being overwhelmed by the issues we have to tackle.

So, it’s nice to know that there are people who look at these problems not with an overwhelmed sense of dread, but with a deep sense of determination – and Lawrence Livermore National Laboratory is full of those kinds of people.

LLNL is advancing nuclear weapons science, and focuses on a variety of other energy, national security, and technological research problems. The Lab, headed by Director Kim Budil, is staring down the crises that face all of us, and it’s doing so by mixing the realms of scientific exploration and entrepreneurial grit to bring innovative solutions to the table. But how does LLNL find a balance between competition and collaboration? Find out on Business X factors.

Main takeaways:

Forge Extreme Partnerships: No company is able to do it all, especially as the challenges of today’s world keep getting more complex. The solution is what Intel’s Jason Kimrey and John Kalvin refer to as “Extreme Partnerships.” To adapt to complexity, they suggest bringing together best-of-breed companies. Acknowledge that you don’t know everything, be willing to defer to the greatest expertise, think service rather than stand-alone systems, and adapt to longer sale cycles.
Teamwork = Success: Yuval Noah Harari wrote in his book Sapiens how our ancestors were pretty insignificant animals until they started acting as a collective. All the huge achievements in humankind, he says, are because of the ability to cooperate flexibly in large numbers. In business, teamwork is essential to a company’s success. In a 2020 issue of American Psychologist, a raft of evidence was presented to prove that teamwork can make more people smarter, more creative, and more successful while McKinsey found that diverse teams are more creative and perform better by 35%.
Curiosity Marks a Great Leader: Curiosity is regarded by executive coaches as an ‘elite’ communication skill. According to executive coach, Stephynie Malik, curiosity is not merely asking questions, it is targeted, thoughtful questions to verify behaviors and align intentions. Leaders’ questions may be viewed by many as permission to do the same which could unlock transformational results.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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What if to save and sustain the planet, it meant unleashing creativity with personalized, on-demand fashion? It may sound too good to be true, but Ronen Samuel, the CEO of Kornit Digital, explains why this model is both immensely profitable for business and utterly essential for the world.

At Kornit, Ronan is combining the concepts of personalization and customization with a mission of sustainability and efficiency. The outcome is a business model that both saves its bottom line and saves the planet in the process. So how exactly is Kornit leveraging these ideas to transform the fashion industry? And in what ways is the company bridging the physical and virtual worlds to create what’s never before been created? Find out on this episode of Business X factors.

Main takeaways:

Customization is Key: Custom or luxury experiences used to be available only to the upper echelons of spenders, but ecommerce has made custom experiences more accessible, which is something that today’s consumers require. Research by Accenture has indicated 91% of customers prefer to work with a brand that offers them recommendations and remembers their preferences. Buyers want to feel like they have bought something special, so this should be your priority.
The Need For Speed: A survey by BCG found that overlong development times were the most-cited obstacle to generating returns on innovation and product development. On the flip side, the survey found that fast innovators were more likely to be strong innovators and that the benefits of speed are faster innovation, lower development costs, larger market share, and greater forecasting accuracy.
Where’s My Avatar?: Forward-thinking brands are starting to push digital avatars into another orbit. Einstein Marketing believes that a customer avatar – a detailed profile of your ideal customer – should be a fundamental element of a marketing strategy. It will help product development, content marketing, help you to target the ideal customer, and improve user experience.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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To reinvent yourself, you must destroy part of yourself. The only way you can do this is by embracing change and creating a culture where innovation can be nurtured and acted on. Ismail Amla, the Executive Vice-President of Professional Services of NCR on how this 130 year old company retained its staying power and harnessed the ability to stay relevant.

NCR started with a cash register but has expanded far beyond that in the years since. So how is Ismail helping to bring NCR’s 130-year legacy into the modern world and helping NCR’s consumers along the way? How has the company continued to stay at the cutting edge all these years? Find out on Business X factors.

Main takeaways:

Big But Still Bold: Large organizations or companies are often painted as dinosaurs and the overriding narrative is that only scrappy startups are nimble enough to harness innovation for growth. This is rejected by Ismail Amla and Vivek Wadwha in their book, From Incremental to Exponential: How Large Companies Can See the Future and Rethink Innovation. They argue that big companies have boatloads of customer data, decades of brand equity, robust distributional channels, and enormous financial assets that make it possible to remake their businesses. But doing so requires courage and fortitude.
Sponsor Change: Executives at the top need to be the ones who embrace and create an environment that yields innovation and change. Make it normal practice that different departments interact with each other, even if only informally. The more you can get people to come together, the more that you will find ideas can flow naturally, and executives have to lead the charge in making that happen.
The Need for Speed: In the past two years, decision-making, productivity, and the scale and scope of innovation has accelerated, and according to McKinsey, there is no turning back. Technology and people interacting in new ways is at the heart of the new operating model for businesses and as a result, post-pandemic organization should be reinvented for speed. This can be done by rethinking ways of working, flattening the structure, unleashing nimble teams, providing options, and targeting top talent.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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Some serial entrepreneurs like Sir Richard Branson or Elon Musk captivate the collective imagination and rise to achieve celebrity status. We’re fascinated by those who are able to constantly build businesses or products yet the well never seems to dry up. It’s easy to put charismatic leaders on a pedestal who seem to have limitless energy, but we are only seeing glimpses of people’s lives in the media.

How can business leaders, whether c-suite executives or entrepreneurs, maintain a healthy work-life balance so that they can continue to give back to their work and to the world?

And what cauldron of experience and beliefs drives the sort of business leader who wants to become one of the greatest of all time?

Scott Donnell is a serial entrepreneur with many businesses and projects. Currently, these range from Hapbee, which creates and sells a device that uses magnetic fields to improve a person’s mood; to GravyStack, an app that helps educate kids on finances; to HeroMaker Studios, a decentralized comic’s universe. And just recently, Scott sold off Apex Education, a company that helps kids develop leadership skills and have fun with fitness, all while fundraising for their schools.

But simply selling his diverse catalog of companies isn’t the goal. No, Scott’s ambitions go far beyond an impressive exit.

Scott wants to be a new breed of GOAT — a well rounded greatest of all time who wins in business but is equally successful in terms of family, faith, and health too. It’s a mission that many overworked business leaders have aspired — and struggled — to achieve… but Scott is actually doing it. Find out how on this episode of Business X factors.

Main takeaways:

Find a Coach: When business leaders find themselves in a position where they want to grow or pivot or perhaps want to ensure that they don’t stagnate, finding a life or business coach can be an important tool to get them to the next step. As Einstein famously said, “We cannot solve our problems with the same thinking we used to create them.” A coach could help business leaders with different kinds of thinking to get out of their comfort zone and give unbiased opinions and direction. Studies have shown that coaching is effective in reducing procrastination and facilitating goal attainment.
Get Your Business to Self-Manage: Micromanaging every detail of a business may be important to get a business off the ground, but the ultimate goal should be a self-managed company where the role of the founder or executives is to let go of the day-to-day tasks. Empower team members to solve problems without constantly reviewing and approving decisions. Stepping back instead of managing from problem to problem allows leaders to focus on the vision of the company.
Pass on Generational Wisdom: For the first time, there could be five generations in the workforce. Starting from the youngest, Generation Z, Millennials, Gen X, Boomers and Traditionalists with each seeing the world differently. The benefits of generational diversity is knowledge sharing — this is true whether it is within a family or a business. Deloitte’s Global Human Capital Trends (2020) found that 70% of organizations believe that multi-generational workforces are important for success but only 6% believed their leaders were equipped to deal with it. An inclusive culture that celebrates generational diversity is created by educating employees to understand differences, reject stereotypes and misinformation and to help every generation develop a world view.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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When Steve Smith joined Zayo as CEO, he found himself at the head of a company that was a Frankenstein of 46 acquisitions. And while the company’s decentralized approach had served it well in the early years, Steve saw an opportunity to take the company further. This time — and almost paradoxically — through centralization.

Zayo is a communications infrastructure company that ensures its customers have the fiber bandwidth they need to achieve their missions. They are a respected team with a business model that’s not going out of style. But they hit a wall in their own development. Find out on this episode of Business X factors how Steve married their decentralized approach with a centralized one -- all while still empowering the innovation and creativity that defines the company.

Main takeaways:

Have a Plan for Centralization: If you decide to centralize the processes of a business after acquisitions or mergers, slogans like “think global, act local” or “create a lean but activist center” may sound good, but they do not provide a recipe in all circumstances. The Boston Consulting Group has identified four principles to create a value-adding corporate center. It includes careful assessment of the situations in which the center genuinely adds value and those in which it does not. Emphasizing strategy over structure; letting the business drive the center — not vice versa — and BCG advises companies to be self-critical about central capabilities. Be prepared to revisit and revise choices when circumstances change.
Listen, Learn, Lead: When the heat is on, rally the team or troops around a common mission or a change in strategy. Don’t scare employees into working harder with threats and blame — inspire them to do battle together to succeed. Anchor the organization by focusing on what people need to do differently and lead people into thinking how they can play a role. Encourage employees to speak frankly without finger-pointing, listen to ideas on how to better collaborate and innovate and be clear you are open to two-way conversations.
See Around Corners: Risk assessment typically exposes only the most direct threats to a company while indirect ones are neglected. McKinsey has found that while it is not easy to anticipate how risk cascades through a company or economy; executives who systematically examine the way risks propagate across the whole value chain can foresee and prepare for second-order effects more successfully. Investigate competitors, supply chains, distribution channels, customer response and the full impact of a major risk on a company and think about how your risk cascades to gain insight into what is around the corner. ---

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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In a moment of crisis, some people freeze up. Others spring into action because they’ve learned lessons along the way to help them see their way through tough situations. Even one moment or inch of daylight in the darkness can be enough to hold onto to provide hope. People and companies have risen from the ashes before, and if something amazing has happened once, then certainly that means something beautiful can be created again no matter the challenge, right?

EideCom is a live production and events company that connects people through online events. When live events were put on hold, Founder and CEO, Charles Eide created a second company, Second Stage, that connects people through online events. It was a key pivot to stay active and serve customers at the cutting edge of creating online and hybrid event experiences – they are very much guiding the future of the entertainment space. Rather than giving up on events, EideCom and Second Stage found a way to keep the spectacle alive. On this episode of Business X factors, find out how EideCom and Second Stage have been able to keep the show going no matter what obstacle gets in the way, and consider what lessons you can apply to your business to stay flexible and dynamic in our ever evolving economy. Plus, stay tuned for more of Charles’s story of how there’s an EideCom event connection involving the pope and Justin Bieber.

Main takeaways:

Virtual Has to Be a Spectacle: Hosting a virtual event requires the same care and attention that in-person events would be given as it is so easy for attendees to just switch off. They need to be crafted to become value-added, engagement-driven experiences that go well beyond the computer screen. To ensure engagement, get creative with visuals, live stream on social media, create a personal real world experience by sending a DIY kit for something like wine-tasting, personalize the event with a virtual experience and connect people with others when possible as networking is the major reason why people attend events.
Pivot in Times of Crisis: Companies like Spotify and Unilever have successfully navigated the pandemic by pivoting their business model. But not all business pivots have been successful. The Harvard Business Review have identified three conditions for successful pivots. Pivots must align the firm with one or more long-term trends intensified by the pandemic, they should come as a lateral extension of the firm’s existing capabilities that cement its strategic intention and it must offer a sustainable path to profitability that preserves and enhances brand value.
The art of Persuasion with Optioning: In most negotiations to secure a deal or an agreement there can be an impasse or a deadlock. It could be Charles Eide who needs haze at an event or a business trying to close a deal that drags on. Apart from applying techniques like taking a break, setting aside anger, getting assistance and changing venues; open-ended brainstorming could be a way of breaking a deadlock. It is also known as optioning which is opening up discussions for options that are either obscure or outside the normal realm of possibility. It is an effective technique to unleash the creative juices and could ensure mutual gains.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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Fate is often associated with the divine. It’s this idea that things are pre-ordained by a higher power and that outcomes are out of an individual’s control. There’s no doubt that there’s a lot of life that can’t be controlled. But there’s another way to look at destiny — it can be about making foundational choices that give a particular vision the best chance to be realized over time.

Then, the outcome may look predestined to an outsider, but in reality, destiny is being determined by an established mission, the major choices that underpin it, and the many smaller decisions, adjusted as needed, made to achieve it. This does not mean there will never be setbacks or failures. It simply means this mentality increases the opportunities within one’s control to move ever closer to the goal.

Bruce Baumgartner, the Vice President of Procurement & Strategic Partnerships at Zoox, a vertically integrated autonomous vehicle company, that appears destined to build a fleet of autonomous taxis.

But is Zoox’s desire to control its destiny only about succeeding at building autonomous vehicles, or does it have an even higher mission it’s striving to achieve? Find out on this episode of Business X factors how destiny can be controlled by an individual person, and even by an entire company, if that drive is aligned with a higher purpose.

Main takeaways:

Vertical Integration Pushes Innovation: To expand businesses, companies can choose to either grow horizontally with acquisitions or vertically, where products are developed in-house. The advantage of vertical integration is more control over product quality, the planning of production and alignment with the needs of the in-house end product. There is less dependence on suppliers, lower shipping costs, more design flexibility and efficient investment. Companies can avoid interference and adapt products faster.
Go Big or Go Home: Normally, betting the house is not good advice, but when it comes to start-ups the advice of Theodore Roosevelt that, “You must dare greatly, step into the area and give it your all,” could be a good strategy. To be an entrepreneur, you will find yourself in an arena where the competition is great and standing on the sidelines is not an option. It can be terrifying when you have everything on the line, cash is tight and things are tough when you take big risks, but they can be managed. Make the hard decisions sooner rather than later, consider the consequences of risk, ask yourself the right questions, have a backup plan, plan for all risk scenarios, and understand the odds you are up against.
Sustainability from the Word Go: Many companies do not have a comprehensive understanding of the sustainability impacts of their supply chain. If you are an entrepreneur that is growing your business vertically, ensure that sustainability is built into the supply chain right from the start. For businesses that uses suppliers, an early step is to inventory suppliers, identify the most significant environment and social challenges they have, and prioritize suppliers according to that. New Balance Athletic Shoe is an example of a company that has reduced its footwear supply chain by 65% to form strong positive partnerships with its suppliers based on sustainability criteria.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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The U.S Bureau of Labor statistics reported that people quitting their jobs rose to 4.3 million in August 2021. Professor Anthony Klotz coined the term for this mass exodus, the “Great Resignation.”

On the surface, it’s not good for business nor is it good for people. We’re way past the canary in the coal mine. If a three-alarm fire is bad, how bad is a 4.3 million alarm fire? What about a fire alarm with millions more?

Certainly, the pandemic has had its effect in the Great Resignation, but to say that workers are leaving their jobs only because of that one factor is a huge oversimplification and a poor excuse. The reality is that, for way too long, companies have searched for all the ways they can make more money and have ignored their most precious asset in doing so — their employees.

Bradley Rencher, the Chief Executive Officer of BambooHR, believes that employees have been left out of the business conversation for far too long. BambooHR is a HR company that builds software products to help businesses create positive experiences for their employees. BambooHR supports more than 20,000 businesses and has millions of users all over the world.

But to reach this success, BambooHR first had to learn how to take care of its own employees. What is BambooHR’s X-factor that has helped it nurture its greatest asset so everyone and everything at the company can really be an asset to their own customers? Find out on this episode of Business X factors.

Main takeaways:

It’s the Values, Not the Money: Despite the overriding perception of many employers that money leads to job satisfaction, a survey by global jobs website, Glassdoor, indicated that three out of five jobseeker said they’d consider a company’s culture before applying for a job there, while 73% indicated they would not apply to a company unless its values aligned with their own. Employers who look to boost recruitment and retention should prioritize building a strong company culture and value systems by listening to employees, being transparent, providing regular feedback and having visible leaders that practice what they preach.
Poll Your Employees: When companies start losing employees, an anonymous survey could be an eye-opener to find out what makes them unhappy. Make the survey detailed enough to get the answers you want, encourage everybody to take part, then analyze and share the results and step in to make changes.
The Culture = The Founder: Company founders inspire the culture of an organization whether they intend to or not. The problem is that culture often gets twisted in the growth path with the focus more on building than the original vision of the founder. To get back to the core values, remember why the company was started in the first place and get back to the vision of the founder or founders.
Nail the One-on-Ones: Whether it is the first meeting when an employee starts or a regular check-in, one-on-ones are one of the most important productivity tools you have as a manager, according to Elizabeth Grace Saunders, author of How to Invest Time Like Money. Managers should block regular time in their schedules, prepare discussion points, be fully present, share a win or something positive, express gratitude and most importantly, listen and don’t make it just about work.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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It’s easy to imagine politicians and traditional lenders as old school Chatty Kathy dolls… you pull the string and utterances about the importance of small business come out of their mouths. You might hear: “Small businesses are the foundation of this country,” or, “small businesses are America’s engine.”

There’s a reason that politicians, and lenders like banks, at least pay lip service to the importance of small businesses. It’s because there are 31.7 million small businesses in the United States and they comprise 97.5 percent of exporters. Small businesses are America’s economic engine — that’s a fact. But, historically, they have had difficulty securing money from lenders. Oftentimes, they aren’t really acknowledged at all by the big banks and if they are, they are treated as economic tools for growth rather than as equals.

But what if a fintech company came along that respected small businesses as partners; that quickly and accurately measured them for their true value, and then worked to efficiently provide them the resources they needed, even before they actually needed it?

Cetin Duransoy is the Chief Operating Officer at Fundbox, which he describes as a fintech company that has small business etched into its genetic code. It serves almost 300,000 clients and uses the power of digitization, data science, and A.I. to form relationships with small businesses and ensures that they have the loans and lines of credit they require to operate successfully.

Even though many politicians and lenders extol the virtues of small businesses, what is Fundbox’s special X factor that helps it not only talk the talk but walk the walk? What is it that keeps Fundbox in that pocket seeing itself as a tool for clients rather than clients as a tool for the company? Find out on this episode of Business X factors.

Main takeaways:

Partners are the Key: Strong partnerships with other companies or small and medium-sized businesses can help to scale businesses to new levels. For startups that tend to have a solid grip on innovation but struggle to reach key markets, it is important to have partners. A McKinsey study identified principles for successful partnerships, such as commitment and attention on both sides; bridging cultural and technological differences; pilot projects to find the sweet spots; key performance indicators should be defined and monitored; and, the focus should be on joint product development rather than general programs.
The Little Mistakes Matter: Charlie Munger of Berkshire Hathaway said in one of his shareholder letters, “It’s remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid.” CEOs often focus on avoiding the big mistakes, but it is not just about avoiding the whoppers; it is execution or avoiding mistakes at every level, including at the micro-level that affects customers’ experience. Solving issues or ensuring execution at micro-levels do contribute to success or failure. Getting them right can lead to something greater down the road.
Work Back from Customers’ Needs: Many companies figure out what to do next by building on what they’re really good at doing. George Bezos called it a “skills-forward approach” in one of his shareholder letters. The skills-forward approach says, “We are really good at X. What else can we do with X?” But this approach would not lead to developing fresh skills and give customers what they really want. To take your business to the next level, start by thinking about what customers want or need, and work backward to determine what you can build. When Amazon developed the Kindle, the company used this approach, hiring people with the right skills to engineer a device that customers needed rather than creating a product out of their existing skills.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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In our universe, there are 200 billion trillion stars. That number is unfathomable to the human brain. The 200 part is something for the mind to try to hold onto, but a billion trillion… no way… we can’t do it. For atoms in the observable universe, the number is somewhere in the range of ten quadrillion vigintillion to one-hundred thousand quadrillion vigintillion atoms. That’s inconceivable (not to mention super hard to say).

There’s a lot of information in our own universe; let alone other universes. We can call all of this data, and at this point, we’re all aware of the potential value of data. But data without perspective is totally useless. HG Insights has always been keenly aware of this truth. Realizing the value of HG Insights’ in offering a unique perspective on troves of data, Elizabeth Cholawsky joined the company and fearlessly took it on a different path.

But what made Cholawsky stick to her guns and how did she hone her convictions to transition the company toward providing technical intelligence and solutions for the big brain problems? Find out on this episode of Business X factors.

Main takeaways:

Stick to Your Conviction: Business leaders often run into opposition when they want to take the company or a business into a new direction. But sticking to your convictions and honing them throughout your career could lead to surprising results. When Walt Disney planned a full-length animated feature after two successful cartoon series, it was called “Disney Folly” with many detractors believing it would destroy the studio. He pushed forward, running out of money, but ended up taking home an Oscar for Snow White and the Seven Dwarfs and a whole new segment of the movie industry was created.
Get Fired at Least Once: When you walk out with a measly box of goods you accumulated in the office or worse that has been handed to you at reception because you weren’t allowed back in the office building; it can be hard to get over the feelings of rejection and shame. But staying In jobs that you may be unsuited for or where you have a toxic manager and live in fear of being fired is not good for anybody. Leaving or being fired may open new horizons and most importantly you will get stronger with every transition — getting fired could be an inoculation against fear. Getting terminated because you stuck to your convictions or values could be empowering even if it does not feel like that at that moment.
A Big Brain Approach to Problem-Solving. For many companies finding a solution to problems means honing in on a narrow set of data or information. In their book, Bulletproof Problem Solving: the One Skill that Changes Everything, Rob McLean and Charles Conn advocate a wider and more comprehensive approach to problem solving. They use the example of obesity, where it has been hard to find the right intervention. In their research, they did not merely look at calorie intake, income, and education, but also wider to something that nobody was talking about, and that was walkability. They spotted that calorific use in Japan was lower because of the structure of their cities – walking to the train station and to the office, which introduced a new set of data that nobody thought about and a major opportunity for cities to rethink their design.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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Maslow’s hierarchy of needs are typically described in the form of a pyramid with each layer building on the last. From the base of the pyramid to the top, the layers are physiological, safety, belonging and love, esteem, and self-actualization. What if we imagined these needs differently... like parts of a body, and the heart is really “belonging and love?” Without the heart, the rest of the body cannot live. With the heart, the body thrives and the possibilities for a fulfilling life expand. And now, what if you apply this theory to business?

Mark Taylor is the Senior Vice President and the Global Practice Lead for Cognizant Digital Experience and for him, the heart level of belonging and love in Maslow’s hierarchy of needs is what he is most concerned about. When it comes down to it, the heart level is about establishing relationships. So how does this massive, international company build such high-quality relationships with its clients and even encourage them to do the same with their customers? And what is the special cognizance, or awareness that Cognizant has that allows its team to stay close with their clients? Find out in this episode of Business X factors.

Main takeaways:

Get Ready for the CX Renaissance: When businesses talk about customer experience or CX, they used to mean traditional sales and marketing touchpoints along the customer journey. This included attentive store attendants, clear, simple and beautiful websites and when executed well, it meant customer retention and acquisition and increased sales and loyalty. According to Accenture, the value proposition of CX is however stalling because many of the fundamentals of CX are now commonplace and no longer enough for differentiation and growth. Companies should be galvanized to push beyond the CX philosophy and reimagine their entire business through the lens of experience. Everyone in the company should be responsible for focusing on delivering superior experiences, not only the marketing team.
Experience is a Tech Opportunity: While investing in tech tools seems to be the obvious way to improve customer experience, it is not as straightforward as that. What you need is the right tools in the hands of the right team. Seek out the tools that can scale for purpose and provide valuable insights hour-by-hour. In busy periods, you may need to grow your CX team quickly to keep up with demand or reassign existing staff members to make sure you have the right people in the right place at the right time. Get quick feedback on customer data and insights to keep a finger on customer contact with powerful, real-time analytics tools. But it is not only about the tools, you also need a team that is well-trained with a shared mission and invested in success who are setting the tone for the business.
Concentrate on the Moments that Matter: When considering customer experience, it is easy to fall in the trap of believing everything has to be perfect and that all dimensions of an experience are equally important. Research by KPMG has found that it is the moments that matter, especially those that give the client cause to reflect on the nature of the relationship and consider whether the brand promise has been kept. To capture the moments that matter; remember that first impressions count in every walk of life, deliver on initial promises, know your customers and use opportunities to demonstrate industry, client and product understanding and concentrate on client reviews. Business is driven by referral and the curation of reputation is critical. Furthermore, you should take opportunities to add value and reduce cost, time and effort, anticipate issues, fix pitfalls before they occur, have a Plan B and have empathetic and emotionally intelligent responses to customers and clients.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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People argue that art can be many different things. Art is beauty, for its own sake. Art is commercial... or not. At its core, art is disruptive.

From Monet to Banksy, art challenges the status quo; it provokes people to feel and think. It involves activating the imagination. Andre Breton, one of the founders of surrealism wrote in his 1924 “Manifesto of Surrealism: “The imagination is perhaps on the point of reasserting itself, of reclaiming its rights.”

Imagination corresponds to change. To change the world, artists first have to see it differently and then manifest that into their mediums. The same thing is true for entrepreneurs, and for companies. The key is training the mind to be comfortable with change.

For Scott Lynn, the CEO and Founder of Masterworks, being comfortable with change and constant iteration is much more important than execution in building a new business. And Lynn used this philosophy to take on an antiquated market geared for the ultra-wealthy — the art world.

Masterworks acquires pieces of art, turns them into securities through public filings with the SEC, and then presents them as products to investors through its platform. To find out how this lover of art provided access for many art investors who never had that opportunity before and how he digitized the art market, tune into Business X factors.

Main takeaways:

Create Luck Through Iteration: Innovation and iteration go hand-in-hand. In fact, many inventors have a cupboard full of failed projects or prototypes. Failure is not the end of the story, it’s just another step forward. Initiatives that don’t work create a building block for future success. Entrepreneurs should iterate like crazy because the probability of success increases with every attempt.
Find A Gap: There are erroneous assumptions in many industries. An example of this is how the American automobile market assumed in the 70s that it could not face competition from Japanese automakers. Some markets may appear to be impenetrable as they have been operating in exactly the same way for decades or sometimes even centuries. But new entrepreneurs can find gaps in old industries if they know how to look. Keep up with changes in regulation and legislation, look for redundant middlemen, search for those industries with disgruntled customers or copy a gap that somebody else found in the market and do it better.
Make It Easy To Understand: Sometimes, if what you’re doing seems complicated at first blush, people will instinctively shy away. You have to ease people into new ideas by making them easy to understand. Try comparing what you’re doing to a market or idea that already exists, or relate your idea back to something commonplace so that you don’t lose people’s interest before even starting your pitch.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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I’m about to flip a coin so call it in the air. Heads or tails? … What did you choose? If you were making a bet, which side of the coin would you bet on and how much are you willing to lose? In the movie The Dark Knight, before he becomes a villain, Harvey Dent is the white knight. He takes risks and flips a coin to make major decisions betting that luck will make him a winner. It seems foolhardy until you come to realize, actually, he makes his own luck. BT Global operates much the same way. The difference is that where Harvey Dent takes a villainous turn, BT maintains its longstanding heroic posture, driven to connect the world for good. Still, like Dent, BT is always playing two hands at once, betting on both sides of the coin to make its own luck. It is what Chet Patel, the Chief Commercial Officer and Managing Director, Americas at BT, says has helped the company make its own luck for more than 100 years. How did BT do it and how does it work with and prepare customers for problems right now and those to come? Find out on Business X factors.

Main Takeaways:

Make Your Own Luck: Rather than take a passive approach, companies need to always be working to set themselves and their customers up for success. In order to make your own luck you have to dig into a number of areas of your business, work to disrupt yourself, and always keep an eye on the competition and never be afraid to go head-to-head with them.
Develop Product Paranoia: The saying goes that every cloud has a silver lining, but in an uncertain, disruptive, ever-changing world, looking for the dark cloud in the silver lining can help you to prepare for the next storm. Herb Kelleher of Southwest Airlines insisted on lean operations and cost-cutting in good times to be prepared for the next storm and at BT, there is always an assumption that the competitors in the field are working to out-innovate and surpass the company, which creates a sense of urgency and creativity that might not otherwise exist.
Give Customers a Future Roadmap: Many companies are reluctant to share their future roadmap with customers because they don’t want there to be any disappointment if things don’t go to plan. Sharing a roadmap can, however, lead to valuable customer feedback and it creates a relationship of trust with customers. When you share your plans, customers can see exactly what you are working on and they would feel more invested in your company. But it is important to follow through and implement great ideas otherwise customers could lose trust in your company.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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The company was a Goliath in its industry and Marissa had a lot of respect for it. But she also knew the company was facing hard times, and when she got the call asking her to join the team as CEO, she knew that turning things around would be no small feat.

The company had an attrition rate of close to 25% - meaning 1 in 4 people were leaving. It had cycled through six CEOs in the last 5 years. The stock price was dropping and revenue losses were at an all-time high. Most news sources, investors, and business execs agreed that the company was on the way to the grave. To join the sinking ship would be crazy -- and Marissa knew it was crazy.

But, of course, we wouldn’t be sharing her story if she hadn’t taken the leap.

Marissa started as CEO the day her appointment was announced. But rather than jump in, take the wheel, and try to save the ship, for the first 90 days, she did… nothing. She didn’t present a strategy, she didn’t cut off hemorrhaging lines of business, she didn’t try to recruit a new team — no, she remained silent, and, for three months, all she did was listen.

It’s a technique many notable CEOs have used when entering a new organization, and it’s one that Steve Murphy, CEO of Epicor Software, has relied on time and time again. What exactly helped Steve and Epicor write a new ending to their story. How did he turn Epicor into a thriving business making more than $900 million in revenue, with 20,000 customers in more than 150 countries? Find out on Business X factors.

Main takeaways:

Talk Less, Listen More: If you want to become a better leader of a business team, become a proactive listener. Especially when a business is going through big changes or is at an inflection point, leaders should not be tempted to rush and communicate what’s on their mind. The first step is to listen to customers and your workforce and to engage, to be able to understand. Astute leaders know that surrendering the floor is how you get to understand what is on the mind of others. The smartest person in the room is often not the one doing the talking; it is the person who is engaging and asking relevant questions and doing most of the listening.
Rewind, Take Stock, Move Forward: Steve Jobs famously said at Stanford University that you can’t connect the dots looking forward; you can only connect them looking backward. For companies, this rearview mirror to connect the dots of past mistakes makes great sense in finding out what was broken and why it was broken. By looking back or taking a step back, you can develop a tactical tool kit that will help you to move forward. Weave the lessons you learned in the past into a future strategy and move on toward a more successful future.
Putting Out Small Fires Won’t Do It: When businesses experience problems, you can examine and try to fix a range of symptoms, like missed deadlines, low morale, lack of materials or software problems or put out the small fires. A better solution is to dig deeper into the root causes of problems, diagnose the underlying issues with your team. Root cause analysis consists of defining the problem, digging below the surface for the underlying conditions that gave rise to the problem. Design and implement a solution with buy-in at all levels and evaluate the success.
Managers Don’t Need to be Liked: Managers' relationships with their teams can often seem like that of a tightrope walker between too close and too distant. As a boss is often the reason why people leave a company; it is important to get it right. Friendliness and respect without friendship create balance and this balance needs to be constantly adjusted. To get the balance right: Focus on the job you have to do, it’s about delivering results; set the boundaries between you and your team, but give descriptive feedback on what has been done and the impact it had; keep emotional self-control; take responsibility if things go wrong; know your team by taking time to listen. Give respect and it will be given back.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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There is a certain level of risk associated with every aspect of life. Some things are riskier than others. Jumping out of a plane puts you in more danger than making yourself some toast in the morning —unless in the unlikely event that you happen to live with a homicidal toaster, right? You can look up all the information on your own about how many people die in skydiving accidents every year versus how many die making toast. But you don’t have to — we’ll give you the answer to that question, but, ultimately, what will that information tell you and how will knowing the answer change your behavior?

LogicGate is a company that looks at risk fundamentally different from most others. According to Gina Hortatsos, the CMO of LogicGate, risk management should not be fear-driven – in fact, the company considers risk as a strategic advantage. How does LogicGate turn risk on its head in a way that makes it something that its customers not only feel comfortable with but actually leverage to do great things? Find out on Business X factors.

Main takeaways:

Knowledge Reduces Fear: Fear of failure stalks the business world and fear is not only a specter for entrepreneurs, even success can provoke anxiety. Hamdi Ulukaya, the founder of Chobani said he was afraid every day while building his multibillion-dollar business because if he failed so many lives would have been affected. A powerful antidote for the fear of failure is increasing one’s capabilities, seeking support, being willing to pivot, gathering knowledge and undertaking research to know the actual risk you are facing.
Whack-a-mole Is Not a Risk Strategy: Vulnerability and risk management have traditionally been treated as a whack-a-mole game with managers addressing problems as they emerge. With senior management under ever more pressure to demonstrate compliance and make risk-sensitive decisions, it is important that senior management know where the moles are without having to ask. To do that, capture key regulatory risk metrics, monitor appropriate data and adopt risk metrics across the business. Make sure that you have a persistent view of risk levels that is accessible to all the relevant managers.
Mix Passions: We are often told that a “jack of all trades is a master of none,” meaning you should concentrate on that one thing you are good at or passionate about. You could in fact merge two divergent passions into one and trailblaze a new path. Some of your soft skills or your passion for something unusual could lead to a new career or business.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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A rogue, dead, spy satellite is plummeting toward Earth. At impact, it will cause devastation — a toxic spill could cover an area the size of two football fields. This satellite has to be taken out.

This is not a retread Hollywood movie, with a superhero soaring in to save the day. No, this actually happened. But there was no superhero or savior from another planet to fly in and redirect the satellite.

Instead, a company and its team were tasked to ensure a missile would strike the satellite’s fuel tank while the satellite was moving at 17,000 miles an hour. The satellite was the size of a school bus, and the fuel tank was the size of one seat on a bus. So how did we avoid a catastrophe? And what company did we trust with the mission?

The answer is Lockheed Martin, a company with a legacy spanning more than one hundred years which includes serving America and its allies by providing the technology required to ensure security and freedom. Stephanie C. Hill is the Executive Vice-President of Rotary and Missions Systems at Lockheed Martin. She leads more than 35,000 people who work on more than a thousand programs ranging from helicopters to integrated air and missile defense to cyber solutions and beyond. So the question is how is it possible for Stephanie and her team to have a culture of stepping back, and staying calm, even at the most tense, perilous moments like when an incoming satellite poses a huge danger? Find out on this episode of Business X factors.

Main takeaways:

Stepping Back to Move Forward: Pushing forward through difficulty and problems are often used as mantras for success. But as mountain climbers would attest to, it’s never a straight walk to the top. There are many twists and turns to get to the summit and sometimes the best thing to do is to step back, take stock and make changes in order to move two steps forward. Business leaders who are constantly moving and pushing forward sometimes need to step back or sideways to get a wider view of the business, listen to clients and consider changes or other paths they can follow that will lead them higher quicker or more efficiently.
Diversity Unlocks Innovation: While managers generally accept that they do benefit from a diverse workforce, it can be hard to measure how a company’s ability to diversify helps the bottom line. Research by Harvard has proven that firms with two-dimensional diversity out-innovate and out-perform others and they also are 45% likelier to report a growth in market share and 70% likelier to report capturing a new market. Diversity unlocks innovation by creating an environment of “outside-the-box thinking. As a leader, you should ensure that everyone is heard, allow for an open environment to propose novel ideas, share credit for success, give feedback that can be actioned, and implement feedback from teams without bias.
Ask The Dumb Question: Many companies are not set up to encourage people to ask questions, but by asking a seemingly dumb question, businesses may learn about a problem they overlooked or did not think existed. Solutions and insight often come from someone who had the guts to ask the dumb question. Avoiding asking hard questions can lead to companywide groupthink and there could be a lack of clarity and cohesion in companies and organizations.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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You’ve heard it time and time again: “A jack of all trades is a master of none.” In growing businesses, this phrase has often been taken to heart… from creating highly focused job roles, to identifying a hyper-targeted audience, to putting full investment into a singular product, service, or solution. Business owners are being told to niche down and dominate their lane. Max Lobovsky, the co-Founder and CEO of Formlabs, a company designing high-performance 3D printers for professional use, has a different philosophy. He leads an international team of 600 engineers, designers, and problem-solvers who are transforming the industry — but getting to that point required contrarian thinking every step of the way.

So how did Max and Formlabs think differently? How did Formlabs go to market and produce printers differently than everyone else? And what X factor carried the company from 0 to 100 million? Find out on this episode of Business X Factors.

Main Takeaways:

Swim Against the Current: It’s easy to do what everyone else is doing, but swimming against the current and pursuing a unique vision could blaze new trails for a business. The risk of going against the crowd is greater, but so are the rewards. Detractors will make it hard to achieve everything you want, but without as much support, you are forced to think more creatively.
Shout From the Rooftops: Many start-ups and brilliant ideas fail to make it into profitable businesses because of a lack of funding. They rely too much on the traditional funding routes when viable alternatives are sitting right in front of them. Crowdfunding and awareness campaigns can be the gasoline on the fire that will take a business from an ember to a full-on blazing force.
Get Your Hands Dirty: What sets successful companies apart from those that are left in the dust is the ability to adapt, transform, and shift cultures. One of the most powerful tools for leaders is modeling. If you want your workers to follow good practices, do it first and set the example. Getting up close and personal and dealing with detailed aspects of your own company can lead to big “ah-ha” moments and business strategy comes easier if you have a deep understanding of the nitty-gritty of what everyone is working on/struggling with.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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Imagine this: You’re working on a jigsaw puzzle. It’s 1,000 pieces and you’re methodically going through them all, connecting what goes together, maybe categorizing the different types, colors, and patterns. And, while you’re doing this, all of a sudden that 1,000-piece puzzle becomes a 1,500-piece puzzle. And, oh yeah, the picture has changed. And this keeps happening over, and over, and over again. It would drive you crazy. But unfortunately, for business owners and business professionals, this story is one that’s all too familiar.

In the legal profession the ever-expanding jigsaw puzzle is the hunt for evidence that can make or break a case. But finding the smoking gun is like searching for a needle in a haystack and most of the time, you don’t even know what the needle looks like.

AJ Shanker is the Founder and CEO of Everlaw, a legal tech company that is taking these impossible tasks out of the hands of lawyers and is spinning the haystacks into gold. How does it do that? Find out on Business X factors.

Main Takeaways:

Side Hustles As Main Hustles: Conventional wisdom says we should not be sidetracked by shiny objects and that we should laser focus on a single goal. But side hustles or projects don’t need to be a distraction because some of the world’s most successful companies have started out as side projects. Twitter, Houzz, and Craigslist fall in this category. The jobs we take on to make some extra cash, pursue a passion or take because it was available, could be an inspiration for a whole new career. Your skills could be exactly what an industry far out of your comfort zone needs. Side projects could be an incredible source of inspiration and it could be a better idea than the one you have been pursuing.
Naivety as a Superpower: People are often labeled as naïve when they are inexperienced in a particular field or when they lack strict adherence to ideals or rules. But in the business world, naivety or cluelessness can sometimes be an asset because it gives you a perspective that others who are well-versed in the area often miss. Naivety should not be confused with stupidity or ignorance. Richard Branson has often been accused of making naïve or flaky decisions. Branson has tried many things for fun and worked like crazy to make them happen. The secret is to be intelligently naïve leaving room for curiosity, learning and experimentation, and observation that others closer to an industry may not see.
Partner with an Engineer: When people of the same discipline get together to solve problems, particularly when they are big problems, it could be useful to borrow from other industries and bring systems engineering that is well-known in the space industry into the process.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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Wayne Berger is the CEO of IWG North America and Latin America. IWG, short for International Workforce Group, boasts thousands of coworking spaces internationally. And on this episode of the podcast, he explains how IWG blew past those big names in coworking spaces to build a business that can last. What did IWG do differently? What were the gaps in the market IWG spotted that others ignored? And how was data put to use to help IWG identify what no one else could see? All that and more on this episode of Business X factors.

Main Takeaways:

Don’t Jump on the Bandwagon: While there may be short-term benefits in following trends or the sexiness of the latest fad, this approach may not lead to significant growth. Seeking novelty can also kill off true innovation and could lead companies to develop products that are inconsistent with their culture and values. Great brands know how to distinguish the latest fad from powerful ideas that they have spotted on the horizon. Find ways of advancing ideas that resonate with core values. Find out with data where society is heading and explore ways in which your brand can align with that direction.
Be a Differentiator: In the words of Theodore Levitt, a professor at Harvard Business School, “Differentiation is one of the most important strategic and tactical activities in which companies must constantly engage.” To communicate your company’s distinct capabilities means highlighting how both your unique selling proposition and the customer value proposition differ from competitors. To determine what your core differentiators are: Evaluate your competitors to understand their strengths and weaknesses, analyze customer experience and focus on the characteristics that set you apart.
Find the Gaps: In a competitive or changing market, it is important to determine whether there are gaps that you can exploit. To identify gaps, you need to play to your strengths as you need to have existing skills and knowledge. Step into the mind of the customer to identify where their attention is shifting to. Research market trends. Take a global view using technology not found in your area. Adapt a business current idea for a new market. Find an innovative solution to a problem. Stay on top of legislation changes that could open a new market. Communicate the gap that you found to take customers along on the journey.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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Imagine this. You and one other suspect have been arrested for a crime. You are taken to separate interrogation rooms where the cops give you two options: you can either confess that you and your accomplice committed the crime or you can stay silent and not confess.

Here’s the catch:

If you confess, and your partner does not confess, you will go free.

If you do not confess, but your partner does, then you will be convicted of the maximum sentence.

If you both confess, you will both receive mild sentences.

If neither of you confess, you will both be free within hours.

What do you do?

What is described above is a famous Game Theory called The Prisoner’s Dilemma. Why bring this up? Because it illustrates an idea that Mark Papermaster, the CTO and EVP of AMD, laid out to describe how he thinks about getting ahead in the industry. Want to learn more? All the details are on this episode of Business X factors.

Main Takeaways:

Hire People with Passion: It may be tempting to only recruit people for academic prowess and experience — they seem like less of a risk. But hiring for passion could open up a talent pool of people who live and breathe the business. People who are passionate and positive about the company and their job are more invested in improving the overall performance of the business. They work to encourage the company and each other to succeed and are prepared to go the extra mile in times of trouble, which makes them a wise investment.
Rules for Coopetition: A mix of competition and cooperation between companies can be a way to save cost and avoid duplication of effort. Sharing may mean putting your special sauce at risk, but the combination of ingredients can create value for both sides. To structure a coopetition agreement, make sure that scope and control is established. Work out who is in charge and how things are going to be unwound if the arrangement no longer makes sense. Cooperation and partnership agreements that are limited and don’t raise control issues are the simplest. In other cases, costs can be shared by parties, but not proprietary knowledge.
Transformational change = High Risk: Businesses that are forced to or want to transform are often required to take significant risks. These high-risk projects are often highly visible and have sweeping impacts inside and outside the organization. To manage risk, undertake risk analysis to identify threats and assess the likelihood of them being realized and once you’ve worked out what they are, you can start by looking at ways to manage them effectively. This could include avoidance, sharing the risk or accepting risk while carrying out steps to reduce its impact. This could be done by rolling out high-risk activity on a small scale in a controlled way.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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He was 16 hours in. His feet ached of blisters, cuts, and bruises. His whole body was exhausted, screaming at him to stop. He had swum 2.4 miles, cycled 112 miles, and was now on his way to completing the final stage of his journey, a 26.2-mile run. Every step brought him closer to his goal, and every step forward meant ignoring the creeping self-doubt in his mind.

16 hours, 46 minutes, and 9 seconds after he began his journey, the hard work and pain paid off… He heard his name announced over the speaker as he crossed the finish line… “Chris Nikic, you are an Ironman.”

On November 7th, 2020, Chris Nikic completed his first Ironman. It’s an incredible feat for anyone to accomplish, but there’s something about Chris’s story that makes it that much more impressive — Chris was the first athlete with Down Syndrome ever to complete an Ironman.

It’s a powerful story that Mary Davis, the CEO of Special Olympics, tells to illustrate how the organization is trying to create an inclusion revolution. What does that mean? Find out on f Business X factors.

Main Takeaways:

Inclusion Revolution: Being inclusive to people with disabilities is not only the right thing to do, it is also good for business. According to the Harvard Business Review, inclusion directly enhances the workplace, and teams with inclusive leaders are 17% more likely to report high performance. It has also been found to increase work attendance by almost one day a year per employee, which reduces the cost of absenteeism. The traits that distinguish inclusive leaders from others are humility, awareness of bias, curiosity about others, cultural intelligence, visible commitment to diversity, and effective collaboration.
Get Hyperlocal: It does not matter whether you are an organization that is trying to improve the world for disabled people, an awareness campaign about the environment or a business you are trying to grow, a bottoms-up instead of a top-down approach builds trust. Knowledge of local cultures can help to foster an understanding of an international agenda or an appetite for brands. It also means that big brands should change their offerings on a local level to adjust to the tastes of different cultures. Getting hyperlocal means understanding what truly matters to customers in any given location and adjusting marketing to locals tastes and preferences.
Become a Storydoer: Storytelling is a powerful tool for any organization or business. In the case of non-profit organizations, it is often not hard to find stories about the great work that is being done. What is more important is to not only share the outcome-oriented stories, but to share the action that produces those results. Storydoing should mobilize people to actively support and promote a cause, or, in the case of a business, to actively promote a brand. Customers should feel they are not only buying or supporting a product, but they are also getting a story that draws them in to move beyond a product.
How to Manage Public-Private Partnerships: Contracts between government and business or private organizations can be enormously complex, but they can accomplish what neither side can do alone, like expanding infrastructure where funds are limited or provide much-needed help for non-profit organizations. The process of structuring a PPP involving a large number of people often takes many years. To avoid failure, find a government champion, draw in people with expertise and take note of environmental and social considerations.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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In the movie World War Z, there was a Mossad agent trying to explain to Brad Pitt’s character why Israel was far more prepared for a zombie outbreak than the rest of the world. The reason was the 10th Man Rule. The agent explained that Israel’s security council had 10 advisors who looked into big picture issues. If the first 9 advisors dismissed an issue or potential danger to the country, then the 10th man was forced to overrule them on principle and look into the issue no matter how far-fetched the scenario. There’s a lesson in there that I think applies to exactly how Ed McQuiston, EVP and Chief Commercial Officer for Hyland, says the company tends to operate. In this episode of Business X factors McQuiston sets out how the company has adopted a process of contrarian thinking that has ensured its survival for decades.

Main Takeaways:

How Not to Become a Boiled Frog: When managers realise that a business is running into a problem, it is critical not to become the metaphorical frog who doesn’t notice that the water is warming up until it’s too late. Leaders need to pivot and refocus the strategy, which includes doing a critical review of the business plan, coming up with a new route, and then getting the buy-in and resources necessary to make it work.
Bring in a Truth Teller: As managers advance to the executive level, feedback often becomes more infrequent and more unreliable, which means that executives could plateau in their leadership and interpersonal skills. Third party coaches or consultants are particularly effective in times of change and can help executives come up with new ways to tackle old problems. When managed correctly, they can reduce exposure to operational risk.
A Devil’s Advocate on Your Team: When one member comes up with an alternative perspective, it encourages other members to consider other angles to a problem, think more deeply about their own views, and perhaps stimulate solutions that they would not have considered before. To be an effective devil’s advocate, the Harvard Graduate School of Education suggests that ideas should be challenged, not the participants who put them forward — don’t hurt feelings and maintain focus on the group.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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As a young woman, Jane Goodall traveled from her home country of England to Tanzania to do research on chimpanzees. Others had studied the animals in the past, but Jane’s method was different. She immersed herself in the chimpanzees’ world. She lived among them, observed them and folded herself into their way of life. And it was through that experience that the eyes of the world were opened to what was really happening with these animals, what their challenges were, how they worked, and what their lives actually looked like. It was only through being fully embedded that true understanding was possible. That’s the same idea that GE Digital puts into practice to fuel the digital revolution of the biggest companies operating around the world.

Pat Byrne, the CEO of GE Digital knows that the best way to help someone is to get to know them and the best way to find a solution is to first thoroughly understand the problem. Find out how he and GE Digital does that to power business solutions on this episode of Business X factors.

Main takeaways:

Love the Problem and Then the Solution: To develop solutions that create impact, it is important to understand what clients have to deal with on a daily basis, the problems they are trying to solve, and the challenges they face. Figure out what customers are trying to accomplish. What is important to them? Why? Fall in love with the customer’s problem before you fall in love with the solution.
Go to Gemba: Gemba translates as the ‘real place,’ and in business, it refers to the real place where value is created. To find it, you have to fully immerse yourself with companies from the c-suite to the shop floor. You have to learn and understand what is happening across every level of a business to optimize the value stream and find the point of maximum impact to avoid solving the wrong problems.
Avoid the "Innovate in Isolation" Trap: Developers and designers need to be mindful that they are designing with their users in mind and not just creating insular products. They too often approach a challenge with a specific end product in mind that is meant for expert users when in reality it might not solve the problems of the majority of users. Get to know the users of a solution before you jump in and institute a co-design process in order to ease the adoption of solutions and technology.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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If you’ve ever watched one of the hundreds of crime dramas on TV or tuned into a true-crime podcast, you’re probably familiar with the ideas of genetic fingerprinting and DNA profiling. More often than not, fingerprints and DNA are used to crack a case and lead to the right culprit. But the science behind DNA fingerprinting? It didn’t even exist until 1984. In fact, the inventor of the method didn’t think it was even possible.

Time and time again, mainstream society and experts in their own fields have proven to be notoriously bad at predicting which risks will pay off and what is in the realm of possibility. As another example, look at Alexander Graham Bell who, strapped for cash, offered to sell his telephone patent to Western Union for just $100,000. Western Union turned it down, stating that “The idea is idiotic on the face of it."

What seems impossible or idiotic today can become commonplace tomorrow. It just takes a little bit of grit and self-confidence. Ivonne Kinser, the Head of Marketing for Avocados from Mexico, and both she and the company have a knack for taking risks and betting on the seemingly impossible. What do those bets look like, and how have they paid off so far? Find out on this episode of Business X factors.

Main Takeaways:

Be a (Calculated) Risk-Taker: People are often encouraged to start before they think they’re ready and to not let any opportunity go to waste. While sometimes this is a good strategy, it is almost always better to make a calculated bet and be sure you know what your ability level is and what you hope to achieve with any project. With that knowledge at the very least, you can come up with a plan that might be bold, but has a better chance of working out than if you jumped in blind.
Separate the Signal From the Noise: Companies have to evolve constantly to stay innovative and competitive, but still too many find a model that they repeat over and over even though the industry has begun to outpace them. But it’s not enough to just keep pace, you have to constantly try to stay ahead of the trends so that you can be riding the highs of a movement while others are trying to get started. To do this, keep an eye on the trends and separate the noise from the signal. Take advantage of trends to cushion the business, but build your foundation on the forces at work, such as the technology that will be sticking around for years to come.
The Long Game: In today’s world, businesses are often focused on short-term goals, this month’s P&Ls, and what the stock price is doing. Applying long-term thinking is probably the better strategy, though, because it allows you to prepare for whatever will come your way. By coming up with very long-term goals, and then focusing on collecting the data and implementing the technology to keep yourself informed on as much as possible, you future-proof yourself and your business.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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Do you remember the story of the tortoise and the hare? Here’s a quick refresher: a tortoise and a hare were having a race, which, you assume, would be pretty lopsided in favor of the hare. But the hare was so focused on showing off that he lost sight of the ultimate goal: winning the race.

Why do I bring that up? Well, because it reminds me of a phrase you may have heard in the business world, that “marketing is meant to be remarkable.” You may have also heard that companies are always aiming to “surprise and delight.” The crux of what both of these phrases are talking about is really that companies are focused on creating experiences for consumers that they will remember forever. According to Simon Harrison, CMO of Avaya, that’s also the completely wrong way to be operating your business.

Avaya is a software solutions company that many people may not have on their radar, but it is steadily bringing software solutions to 90% of Fortune 500 companies, has a presence in 190 countries, and it is effortlessly improving customer experiences. How is Avaya succeeding? Simon tells us on this episode of Business X factors.

Main Takeaways:

Effortless Trumps Delight: Customers may be delighted to be offered a freebie like chocolates on their pillows at a hotel, but loyalty or repeat business does not come from these ‘feel good’ moments. Customers have a preference for organizations who make life easy for them, solve their problems and create an effortless experience and will return to them over and over before they go back to a company that did one nice thing for them one time.
Everybody Loves a Story: A powerful way of persuading people is to unite an idea with an emotion and the best way to do that is by telling a story. People connect with stories and it builds familiarity. Ditch the PowerPoint slides and the charts and tell stories that engage and are remembered.
Design/ Reach for Utopia: Joseph Pine and James Gilmore coined the phrase ‘Experience Economy’ way back in 1998 and they have since made an even stronger case for experiences as the critical link between a company and its customers. To design solutions to create the ultimate customer experience in a booming customer experience economy, imagine a utopia, a moment or experience when there is a perfect match between what a customer wants and what a business offers. And then empower staff to come up with transformational customer experiences.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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A little girl hides behind the leg of her mother, afraid and unsure as her eyes scan the mass of people around them. She and her family have just fled their home in Ethiopia amid a rising tide of violence and disruption. They are now staying at a camp for displaced persons along with thousands of others who, like them, can no longer go back to the home they once knew. There is overcrowding, disease, and little food or water to go around.

It’s a heartbreaking scene, and sadly not an unusual story. This little girl’s struggles are a drop in the bucket when you take in the larger picture. The world is full of hard problems to solve. Hunger, homelessness, disease, natural disasters, education inequality. The list goes on and on and there isn’t a single corner of the world that is immune to all of these challenges. The need is overwhelming, but it can’t be ignored. As humans, we are all accountable to each other. But as humans, we are also limited in our capacity to help on a large scale. It’s not impossible, though, and certain organizations have found a way to have massive impacts, including UNICEF. The question is... how?

UNICEF is a global organization that faces massive challenges head-on every day. On this episode of Business X factors, Michel Nyenhuis, the CEO of UNICEF USA, tells us how.

Main takeaways:

Global Influence, Local Implementation: “Think global, act local,” may sound like a bit of a cliché for companies entering new overseas markets, but many businesses are still guilty of having a one-size-fits-all mindset. They focus on large-scale economic, political or technological barriers without taking the local culture or those that have to implement a business model on the ground into account. To make a lasting impact wherever you work, give autonomy to local people who are better acquainted with cultural differences that could influence consumer attitudes and behaviors.
Partners to Solve Big Problems: While smaller businesses or non-profit organizations can be nimble and flexible and can try things that governments aren’t able to do, to scale, these organizations often need bigger partners. Buy-in from multiple partners can help not only ease the challenge of expansion but also minimize the risk for individual actors.
Communication Paralysis: A lack of communication is often seen as the root of the problem in many businesses. The reality is that there could be too much communication happening, which causes channels to become oversaturated with business leaders acting as information traffic wardens instead of making decisions. Communications should be treated like data, there is plenty of it, but it needs to be channeled and sifted to add value. Don’t communicate for the sake of communicating, make sure there is value in it and that it does not lead to indecision.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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The world of business is full of empty promises masquerading as the next “big thing.” From pitch comps in high schools to stakeholder meetings for the Fortune 100, you hear the same claim; that this service, or that product will be a total game-changer.

As proof, all we have to do is take a little look into the past. Back in 1957, Ford dove in headfirst into “the next best thing,” also known as the Ford Edsel. But consumer preferences were evolving quickly, and no one wanted a big, bulky gas-guzzling car anymore. After a few years, and $400 million dollars down the drain, it was quickly taken off the market. Or what about when Coors tried to sell its “rocky mountain spring water” to its customers? Another flop. Turns out beer drinkers only want one thing from their favorite beer brand. Or let’s think back to when everyone thought they had to offer phones to their customers. Amazon, Facebook, and ESPN all took a swing at the opportunity only to realize they overpromised and underdelivered.

It’s hard, almost impossible, to create something that truly has a long-lasting impact on the world and on consumer behavior. The internet was one of those things, and companies like Google, Tesla, and Apple were a few leaders that transcended the world of fad and actually entered the zeitgeist in real ways. But they are the exceptions, not the rule. And they also weren't the first movers in their industries. Google wasn't first in the search market. Tesla wasn’t first in electric vehicles, and there were computers and phones far before Macs and iPhones became ubiquitous. So where does that leave an innovative new drone company, which is angling to be another one of those unicorns, but is paving a completely new path to get there?

American Robotics became the first company authorized by the FAA to conduct automated drone operations without humans on site. Reese Mozer, the co-founder of American Robotics calls it an inflection point and he’s aware that the whole industry could soon be riding in his slipstream. But Mozer has learned a couple of valuable lessons as he was pushing for approval and found nuggets under the golden ticket that he unleashed for the industry. On this episode of Business X factors, find out the valuable lessons Mozer learned in being the first-mover and how he plans to sustain the lead and not go the way of the Ford Edsel…

Main takeaways:

Push Where Others Don’t Dare To Go: By their definition, entrepreneurs question the status quo and start-ups that come up with new ideas and inventions often find that they are overburdened by regulations. Innovators should be aware of what regulations are in place, and where the boundaries are to figure out what’s possible. Then they should push those boundaries in order to create new opportunities before others strike up the nerve to challenge the regulators.
The Edge Is In The Data: In developing a product, many entrepreneurs focus on pushing out new offerings and constant development of products to stay ahead. What often gets lost in the rush to focus on the product is the value that lies underneath what you build. Gold often lives in the data that companies gather and if they analyze and optimize that data, they can outlive any product that might be hot today but not tomorrow. The hardware or products often only serve as the enabler for data-centric transformational business value.
Insane Perseverance: Steve Jobs said he was convinced that what separated the successful entrepreneurs from non-successful ones was pure perseverance. Many people will fold when they experience pushback, especially from peers or investors. Those that carry on anyway are often the ones that end up changing the world.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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What do Larry Ellison, Ellen DeGeneres, Anna Wintour, Warren Buffet and Michael Dell have in common?

Other than fame and massive wealth, what’s a key differentiator that sets these folks apart? Maybe Ravi Kumar, the President of Infosys can give you a hint…

“We have started to hire at Infosys without degrees and land people on an apprenticeship even if they don't have degrees, even if they've come from community colleges with an associate degree, or they have been in a traditional industry and want to do a mid-career shift,” Kumar says.

But the decision to transform its talent pool is not the only unusual approach that Infosys has adopted. Infosys is flipping the enticing hiring process on its head and it’s potentially jeopardizing its business model in the process. On this episode of Business X factors, Kumar explains all the bold pathways that Infosys is following and what ripples it will cause in other industries.

Main takeaways:

Degree Not Required: Thanks to technology, the nature of work is constantly and rapidly changing. Employers need to keep up and so do employees, who should be focused on life-long learning rather than achieving a singular degree. There are going to be more roles at the forefront of data and the A.I. economy, and the skills needed could be taught to those without college degrees if companies are willing to put the effort and investment into them. And if that investment is made, there will be a reward because there is often a greater retention and loyalty element when people without a college degree are given opportunities to train and get ahead in their careers.
Opportunity Before Passion: “Follow your passion” is a phrase often repeated but it could mean that people become close-minded to new potential areas of interest. Being overly narrow and committed to one area could also lead to missed opportunities and if this is not where your talents lie, lead to frustration. Think of life as a series of opportunities to develop several passions and you may enjoy a new opportunity more because you are good at it.
Rising Tides Lift All Boats: Sharing technology or know-how may seem to go against the principle of competition in business, but by sharing information, more innovation can happen quicker, from which all companies and customers could benefit.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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There’s a saying that goes, “Not my monkey, not my circus.” Basically, it means “that’s not my problem.” For your own peace of mind in your personal life, it might be good to adopt that attitude — if it’s not something you have to worry about, why should you? In business, though, that can’t be how you think — not if you want to succeed long-term or grow your young business into a juggernaut. That’s why from its infancy, Ring has employed the exact opposite approach: everything is everyone’s problem. And when you’re building a company that has a mission to deliver complete home security to all who need and want it, there are an awful lot of problems to solve.

Ring started with a simple video doorbell, but the people behind that product always had a vision that saw past the horizon. The company’s mission was to make the world better, and it has despite numerous missteps and heartbreaks along the way. How? Find out on this episode of Business X factors with Leila Rouhi, the President of Ring.

Main Takeaways:

It Takes a Village: Business is about buy-in. Customers have to buy into your products and services, and your employees have to buy into your mission and the work they do. By keeping everyone involved in all aspects of the company — from product development to customer service — you create an environment where everyone is rowing in the same direction. And as a result, the customer is served better and more effectively more often, which keeps them coming back
It’s Not a Party: In order to consistently grow and bring new solutions to the table, you can’t spend too much time patting yourself on the back. A victory should not give way to a celebration, but instead, it should just open you up to start working on the next big problem.
Continuous Product Development: Nailing the launch of a new product can feel like hitting a moving target on top of a runaway train. Rather than shooting for perfection, product development should be seen as an ongoing information-gathering process and a way to bring more value into your customers’ lives. That will keep everyone on the team motivated to create the kinds of products that can be winners out of the gate.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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So, a group of roofers, carpenters, and skaters all walk into a room… I promise you this isn’t the beginning of a bad joke. It’s the beginning of a research project conducted in 2013 by the Harvard Business Review.

Researchers presented the groups with the following question: how can roofers’ safety belts, carpenters’ respirator masks, and skaters’ knee pads be redesigned to increase their comfort and use? Each participant had to submit an answer for all three problems. So whose ideas won out? And why?

It’s a simple experiment with surprising innovative results that are informative when trying to understand how Deloitte has found success for decades. On this episode of Business X factors, all the answers will be revealed by Rich Penkoski, the CEO of Markets at Deloitte, who explains how unorthodox thinking helps lead to innovative strategies for the global consulting company and its clients.

Main Takeaways:

Look Over the Fence: The idea of mixing malls and mines or makeup with surgical infections may not sound like a good idea, but bringing ideas and people that are analogous together, could make for surprising innovation and radical inventions. Look for fields that are more advanced in technology for inspiration or creative people who are old hat at coming up with out-of-the-box ideas and bring them into the fold.
You Belong: One of the greatest obstacles to moving outside your comfort zone is the fear of looking like an imposter or poser. There are, however, benefits to being a novice with a fresh perspective. Many problems are solved with fresh ideas and a different way of thinking, and so-called outsiders offer that critical new perspective. That’s why companies should prioritize bringing in as many different kinds of people with as many diverse backgrounds as possible.
Flatten the Hierarchy: Many companies are structured like a military chain of command. By flattening the organizational structure with fewer layers, communication can be clearer, decisions can be made more quickly, there is increased autonomy and empowerment for workers, and fresh ideas from younger workers can be heard.
One Small Step: It is exciting to try to shoot out the lights by adopting new innovation, but if you aim too high and it is unachievable, you may just fall back to the old. Aim high but make sure that you build in enough runway so that you can appropriately adopt and adapt to a new solution. Taking a stepped or staged approach to innovation is often the more achievable route.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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“It’s not personal, it’s business.” How many times have you heard that phrase throughout your career? For the longest time, business success has gone hand in hand with a certain degree of toughness and ambition. After all, you’ve got competition to worry about, revenue goals to hit, and in many cases, investors to answer to.

On the turn of a dime, business can become cutthroat. You need to build walls to keep your company secrets safe — because if you don’t, you lose and your competitors win. Even within organizations, there is a tendency to separate processes and people and silo data and keep people in one lane or another.

But what if there was an alternative?

Elastic believes in that different way, and Kim Huffman, the VP of Global IT at Elastic, is helping the team to lean into the idea that an open, supportive, distributed system is the way forward. While most businesses keep a tight lid on their business by employing an aggressive and impersonal approach, at Elastic, everything is out in the open. With a distributed workforce and an open-source mentality, Elastic is giving everyone access to the most precious resource currently available.

But scarcity creates value, so when everyone has access to something valuable, is it still worth as much as we think? When everyone can win, does anyone really win? And with so much out in the open, how is Elastic continuing to innovate in new ways and stay ahead of the curve? Find out on this episode.

Main Takeaways:

A Share of the Pie: With big world problems to solve, open-source and open innovation has proven to have huge potential, especially in a crisis. Embracing a collaborative approach does not only help to solve problems externally, a seed change from the us-vs-them mindset to a collaborative and open approach could promote similar behavior within companies and ultimately end in happier customers.
Honesty Rules: Most people in senior leadership do not have people who hold a mirror up to them and tell them the truth. If you want the leadership team to grow and work toward the same goals, honesty with no repercussions is the route to building trust. Leaders should encourage openness and honesty and open themselves for feedback.
Embed Empathy: The dog-eat-dog corporate narrative of the past has given way to the concept of empathy as the secret of business success. It is no longer being regarded as a soft skill. Human-centric strategies that focus on people first and sharing experiences have become more important.
People-Centered Resilience: Building a resilient organization or company that can adapt to a crisis is all about the people. Give people the technology tools, information and support to feel engaged and communicate openly and transparently to build trust. With that kind of culture, employees will buy in, feel personally connected, and work hard when the company sees challenging times.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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No one wants to be forced to do something. Whether it’s the newest “best practice” or the “old standard,” people and companies want to be able to choose the path for themselves. At VMware, the company that offers its tech stacks and service to many of the biggest companies in the world, the idea of choice is taken to another level. Jason Conyard, the CIO of VMware says that VMware offers companies choice when it comes to their tech stacks and servers But when you look a little closer, VMware actually takes the idea of choice so much further than that.

VMware has placed a premium on things like equality, inclusion, and appreciation for outside perspectives, and it has prioritized making decisions that lead the company, its employees, and its clients to the success they choose. How though? Don’t bias and business outcomes come into play? What does it take to truly let humanity and technology come together in a way that works for everyone?

Main Takeaways:

Freedom to Choose: Companies and businesses do not want one-size-fits-all technology solutions and should be given a choice around clouds and technology that can solve real world problems. Freedom of choice is critically important in using technology to solve business problems because not every company has the same needs, processes, or solutions, so when you offer services, make sure that you can personalize that experience to customers’ needs.
Simply Delightful: Frustration is often the emotion people associate with technology. As tech gets more advanced, sometimes it gets more difficult to use or understand. It’s your job as a business to strive to create the opposite, which is an amazing experience in which you lead with empathy.
Experiment With Ideas: Having an environment in which all ideas are encouraged allows for employees to feel free to express themselves and bring their best to the table every day. Even if not every off-the-wall idea works, it can still be a starting point of something great.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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In a company that has been working and succeeding for more than a century, change doesn’t always seem necessary. And even for newer brands, when you find a winning formula, when you have revenue coming in, and when consumers have grown to trust you, why even bother to do anything differently?

This was the predicament facing UPS recently. UPS had done an amazing job for 100 years building the company into a wild success. The problem was that if something didn’t change, the next 100 years were very much in jeopardy. Customer expectations were changing, the younger generation was moving on, and if UPS was going to deliver for the future, it was going to need to embrace a new outlook, some new strategies, and it was going to need some … swagger.

Kevin Warren, CMO of UPS, was brought into the company to help deliver that future. Hear how he did it on this episode of Business X factors.

Main Takeaways:

Always On Your Toes: Companies that have a winning formula may think they can rest easy and that it is not necessary to change. But consumer expectations are changing, and how they engage with businesses is increasingly moving online, and even that shifts constantly. It is important that companies remain commercially innovative, entrepreneurial, and agile to be able to adapt to changes in shopping habits and technology. Those that don’t innovate quick enough will be replaced.
Cool Story, Bro: The younger generation is much harder to impress with the strategies of old. Legacy brands need to work to stay relevant among the next generation of consumers. That means changing brand messaging, operating in new channels, and even modifying internal culture to stay with the times.
Mine the Data: Many companies sit on a mountain of data, but few of them use that data to its fullest potential. Invest in your data and analytics team in order to draw as much information as you can from the data you collect and that the insights you find are available throughout the organization and don't sit in silos.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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Toby Russell, the Founder and Co-CEO of Shift, is driving transformation in a market that has long been associated with terrible customer experiences and a low level of trust:the used-car sales market.

Despite warnings that you needed a miracle to scale a car-sales business, Russel founded Shift with a philosophy that exceptional customer experience could make a difference. On this episode of Business X factors, he reveals how Shift has found a way to radically improve experiences in buying used-cars, the lessons he learned from his previous venture, and the challenges he met on the road to offer a seamless, hassle-free purchasing experience for customers.

Main Takeaways:

Poor customer experience = opportunity: When a buying experience is terrible, there’s a strong chance that consumers are hungry for something new and different. Work back from what customers need and look for gaps. Examine the customer’s end-to-end experience and design a system that delivers everything the customer needs.
Customer experience as priority No. 1.: In many businesses, customers or product quality are sacrificed in deference to the bottom line. This alienates current customers and puts you at odds with prospective customers before they even walk through your door. Happy customers - the kind that will return and recommend you to others - are customers that feel confident in their purchase. Take out the guesswork for your customer, provide them with a high-quality product at a fair price that they can trust.
When changing a massive industry, find ways to differentiate yourself: Making waves in an established industry - especially one with a bad reputation - is no easy task. To avoid getting seen in the same light, find ways to stand out. For Shift, this meant not only committing to providing a great customer experience, but also getting creative with how consumers could engage with the company (i.e. online).

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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What if you could predict the future? It’s the stuff of movies and novels — Like Biff Tannen of Back to The Future you could bet on the right horse and win an easy million — a superpower, that, if it were real, could bring you and your company wealth, prosperity, and wild success. But what if predicting the future wasn’t just fodder for fiction?

Intel has figured out the secret to predicting the future, and it doesn’t have anything to do with time machines or crystal balls. Joe Jensen is an Intel veteran of 36 years and is currently the Vice-President of the Internet of Things and General Manager of Retail, Banking, and Education at Intel, and on this episode of the Business X factors, he brings us into the company to reveal how innovation happens and what it actually looks like to develop and implement technology for the future.

Main Takeaways:

Positive Paranoia: If you keep in the back of your mind that you are always on the brink of being taken down by competitors, you can develop a sense of positive paranoia, which allows you to recognize strategic inflections points and drive innovation in a way that will keep you ahead of the game.
An Eye Overseas: So much innovation is happening all over the world, and often other companies are ahead in certain areas. Those who want to create innovative new solutions should broaden their horizons and look to other areas to find ways that other cultures are not just using technology, but how their expectations around technology will change because those expectations will likely soon become widespread in other areas.
Hello, Old Friend: Sometimes the future can be found in the past. Older technology can often be used in new ways that weren’t right at the time but could be game-changers now.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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They say two heads are better than one. So how about more than one million heads —that would make you unstoppable. For stock image provider, Shutterstock, there are 1.6 million people who are contributing content to the company every single day and it’s about time that this goldmine of talent was put to use in new ways. At least, that’s what Aiden Darné believes. Aiden is the Global Head of Shutterstock Studios and on this episode of Business X factors, he reveals how Shutterstock is democratizing the content creation industry and completely shifting how the industry views Shutterstock and its network of creators.

Main Takeaways:

More Bang For Your Buck: When you have assets that are being underutilized, there is a lot of upside in finding a way to reposition yourself and your assets to get more out of them. But this can often take a lot of work and rebuilding of a brand, so it’s critical to lean on your reputation and the trust you’ve built up in order to move further.
Give Them A Chance: Too often, industries can become set in their ways and tap into the same wells over and over. As a result, things like content creation, production and more can become insular and exclude new and emerging talent. It’s important to stay open to new ideas that might come from unexpected places.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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Leading a large organization is full of high-stakes situations that can make or break a company. But in some cases, a company’s livelihood isn’t the only thing on the line. Sometimes, and this is not hyperbole, the entire world is relying on the decisions you make.

Elisha Hermann is a Global Supply Chain Strategy and Innovation Partner at Bayer Crop Sciences, where she and her team are on a mission to make sure the world doesn't starve. And if that isn’t challenging enough, she’s also helping to figure out how to make feeding the world equitable and sustainable utilizing the technology that's at the heart of everything Bayer does. The stakes are high and things like infestations, soil erosion, supply chain issues, legislation, trade, and climate change add wrinkles to the problem at every turn. Learn how Bayer is addressing those challenges and more on this episode.

Main Takeaways:

Science And Data First: Whether the global food chain is at stake or if you’re a business owner just trying to put a product out to market, data should always be leading the way. Gather and analyze as much information and data as you can, and come up with science- and data-based solutions to whatever problems you face. And then, if you fail, take that data and use it as a jumping-off point to improve and move forward.
Tech Is The Answer: AI, machine learning, blockchain, automation — all of these may seem like buzzwords with more hype than practical application, but the truth is that each of these technologies is being used in real and impactful ways. To go from an idea to a solution, though, implementing solutions at scale is necessary, even if it means you have to fail fast and pivot..
Chain Reaction: The pandemic accelerated innovation and spurred digital transformation in every industry. As more activity moves online, the supply chain will likely see some changes that will make sourcing patterns, product lifecycles, and other aspects less complex and more transparent every step of the way.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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Building a business is a path fraught with difficult decisions. For every hard-won success, there are equally hard-learned lessons. Fred Smith gambled FedEx’s last $5,000 to save the business, Henry Ford went through two bankruptcies before founding Ford Motor Company and for Rob LoCascio, the CEO of LivePerson, survival meant he had to do the unthinkable and cut two-thirds of his workforce just one year after taking the company public. He is the original bounce-back guy, having survived three major world disruptions: the dot-com bubble, the credit crunch and now, the pandemic.

On this episode on Business X factors, LoCascio lets us ride shotgun on his journey, and he explains how LivePerson has been able to not only bounce back and become a massively profitable business, but how they have been able to revolutionize consumer communication with brands. He reveals his and his company’s X factor and he looks toward the future of business and technology.

Main Takeaways:

Hit the Brakes and Make a Turn: There are many entrepreneurs who hang on to their original idea long past its expiration date. It takes foresight and a good reading of the market to abandon an idea. But this tough step is necessary in order to move onto the next thing. Have a short memory and your eyes pointed ever forward, and don’t be afraid to make the hard decisions.
Get it Out: Whether you’re ready or not, sometimes you just have to get a product out to the market and iron out the kins later. In fact, by getting the product into the hands of the user, you are better able to understand exactly where improvements are needed and can then make adjustments with velocity.
A Different Point of View: Leadership is always one of the most important elements in the success of a company. As such, it’s easy to play it safe when hiring for key roles. But sometimes it’s useful to bring in a new perspective or a different kind of person for a role like CFO. When someone with a background counter to what is traditional is put into a role, that person can ignite a new spirit of innovation and bring new ways of looking at things that can spark growth in a company.

Business X factors is produced by Mission.org and brought to you by Hyland.

For over a decade, Hyland has been named a Leader in the Gartner Magic Quadrant for Content Services Platforms, leading the way to help people get the information they need when and where they need it. More than half of 2019 Fortune 100 companies rely on Hyland to help them create more meaningful connections with the people they serve. When your focus is on the people you serve, Hyland stands behind you. Hyland is your X factor for better performance. Go to Hyland.com/insights to learn more.

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Studies show that 80% of CEOs have indicated they are worried about the key digital skills of their workforce _ yet few have done anything about it. In an era when sweeping digital transformation is being embraced by every company regardless of industry, why has improving the digital acumen of the workforce been a project left untouched? Suneet Dua, the Chief Product Officer at PricewaterhouseCoopers, says the problem is CEOs don’t know how to go about giving their people the right digital training and skills.

At PwC, a 170-year-old company, digital tools have been used for years to grow the company exponentially, but Suneet discovered that its workforce did not have the digital mastery or resources to leverage technologies for the business. It was a fatal flaw in an otherwise efficient system and was slowing everything down. Armed with a passion to solve this problem, Suneet set out to start what he called a citizen-led skills journey for PwC’s workforce of 280 000 employees. Along the way, he and his team not only developed a digital skills app — which has been made available for free to every citizen in the world — they created digital accelerator jobs and a digital laboratory with more than 750 automations for PwC.

In this episode of Business X factors, Suneet takes us on the journey that led him to this upskilling quest and why its success has been the X factor that has helped power PwC to the heights it’s reached today.

Main Takeaways Filling the Potholes: Most CEOs know that their workforces should be digitally upskilled, but many don’t know how to do it. At PwC, the company has long offered tech solutions to its clients and has transformed its own business with digital tools, but it found that many of the employees could not leverage technology for the business. To fix this blindspot, a massive upskilling undertaking was necessary to keep PwC in a leadership position in the digital world. * Getting Buy-In On A $3 billion Revolution: In order to bring the ‘citizens’ at PwC up to date in digital skills, the company invested $3 billion. The first task was to establish a digital baseline to determine where things stood at the company and to determine where the biggest digital gaps existed. With the baseline established, the team proceeded to build a learning platform that could fill knowledge gaps but the trick was making employees want to take part. That’s where gamification and incentives were put in place. * Spread The Knowledge:* The success of the upskilling process has led to the creation of bots that would never have existed otherwise in the PwC world, and employees are happier and more fulfilled because of their ability to grow within the company. PwC saw this success as an opportunity to help other organizations do the same thing, and it decided to share its X factor on a much wider scale.

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In this new podcast, we pull back the curtain on some of the biggest and most successful companies in the world to show you how they work, and what their best-kept secrets are that keep the wheels turning. A new podcast by Mission.org. Brought to you by Hyland.

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