This month’s print edition of HBR makes mention of a new study supporting ‘the purpose-profit’ connection (p32). The study looks at the relationship between strong purpose and public company financial performance. I believe the insights apply to all organizations – That is, any organization with a strong purpose will see increased performance.
The study finds there is a strong link between PURPOSE and PERFORMANCE (or, in my adjusted language, IMPACT). Researchers make a distinction in two types of high purpose organizations. The first is what it calls ‘high camaraderie’ where everyone simply has a sense that they are doing something great, TOGETHER. The second type of purpose is ‘high clarity’ from management. This is noted as the type where managers excel at translating purpose into action.
The statistically significant performance bump was only found with organizations that have ‘purpose clarity.’
As a leader, think not just about PURPOSE, but ‘PURPOSE CLARITY.’ To help you with this, I would bridge some of the findings of the research with some of the For Impact teaching. Think about PURPOSE as an anchor for your STORY. And, by story, I don’t mean a narrative with a beginning-middle-end. I mean how you FRAME the organization.
A GREAT STORY…
Some of the writing in the research study further supports thinking about placing PURPOSE inside of STORY. “The company’s primary purpose – the real one, which isn’t necessarily the one written in the official documents or etched in the wall plaques – [that] guides its actions and decisions.”
Gartenberg, Claudine Madras and Prat, Andrea and Serafeim, George, Corporate Purpose and Financial Performance (June 30, 2016). Columbia Business School Research Paper No. 16-69. Available at SSRN: https://ssrn.com/abstract=2840005
The For Impact Funding Roadmap has been built, tested, and refined in working with thousands of organizations to raise over $2Billion. Though each organization is unique, we believe the Roadmap has universal application – Whether you’re a startup, a college running a large campaign, or an international NGO – every funding initiative needs a STORY, a TEAM, and a FUNDING PROCESS.
[Download the PDF.]
Here are some quick thoughts on the Roadmap. [We’re also leading a teleseminar this Tuesday with more explanation, examples and help to APPLY the Funding Road Map to your funding. Register here.]
Design your STORY
The funding roadmap begins with STORY. A great story is anchored in hope-filled purpose, simplifies what you do, and serves as a litmus for action.
Really important point about STORY. This is not just a ‘funding thing’ – It guides your IMPACT and provides MEANING for your TEAM. Organizations so often enter a cycle of strategic planning – I wish there was a norm to enter into a cycle of STORY planning!
Develop your TEAM
Jim Collins says, “First WHO, then WHAT.” With our Funding Roadmap we might say, “First WHY, then WHO, then WHAT!”
FUND your VISION
Finally, it’s worth tying this all together as it relates to the For Impact Point of View:
Impact Drives Income.
Impact is about your STORY.
You need a PROCESS to make the INCOME happen.
And, PEOPLE drive everything!
Here’s a topic that comes up often with some of our coaching clients – Especially when there is lack of role clarity around maximizing relationships!
A NATURAL PARTNER (N.P.) is a person (either inside or outside of your organization) who has a strong relationship with your organization and an existing relationship with the Qualified Prospect(Q.P.) – Or a reason to believe one can be established quickly!
Externally, Natural Partners can be on your Board, they can have a business relationship with the prospect, they can be members of the same club or organization or they can be fellow community leaders, etc.
Internally, the Natural Partner can be anyone from the President/Executive Director to top senior leadership, to a staff/programming person who has a great relationship with the prospect.
It’s important that you determine the difference between a RELATIONSHIP MANAGER (R.M.) and a NATURAL PARTNER.
The RELATIONSHIP MANAGER does not necessarily have to have an existing relationship with the prospect. Their job is to do exactly what it says – MANAGE THE RELATIONSHIP. The Relationship Manager is always a member of the ‘Green Team’ – I.e., directly responsible for maximizing relationships on behalf of the organization/impact. It is perfectly fine for multiple people within the organization to have a relationship with a Q.P. – as long as the Relationship Manager has been defined.
The NATURAL PARTNER can have an existing relationship, or the ability to create one immediately, but most importantly, they play and instrumental role in Team Selling. They can:
Most people don’t know how to keep control of the next action when leaving a voicemail. This can have a huge / negative impact on your selling, fundraising, or follow-up in general! This is a tactic I picked up early in my sales career. It’s simple and effective.
Most people leave a very standard voicemail. “This is Nick Fellers, I’m calling about XYZ. My phone number is 614-352-2505. Please call me back.”
Do not leave the responsibility for follow-up with the prospect. It’s YOUR responsibility!
Instead, “It’s Nick Fellers, I’m calling to connect about ______. I’m sorry I missed you. You can reach me at 614-352-2505. Or, I’ll try you again later.”
This keeps you in control of the follow-up action.
This tweet caught my eye. (If you’re reading this via email or rss reader, make sure you load the picture).
From U.S. Chief Data Scientist, DJ Patil.
— DJ Patil (NARA) (@DJ44) January 11, 2017
What a GREAT notecard!
-Dream in Years.
-Plan in months.
-Evaluate in weeks.
-Prototype for 1x
-Build for 10x
-Engineer for 100x
-What’s required to cut the timeline in 1/2
-What needs to be done to double the impact
Early this am I was re-reading The Power of Positive Thinking by Dr. Norman Vincent Peale (1898 – 1993). Dr. Peale is one of the original positive psychology authors. He wrote from a theological place of origin and applied teachings in a secular context. In 1984 he was awarded the Presidential Medal of Freedom for the tremendous and positive impact of his message.
Dr. Peale’s First Principle of Positive Thinking is: BELIEVE IN YOURSELF.
On the subject of believing in yourself he writes, “Feelings of confidence depend on the type of thoughts that habitually occupy your mind. Think defeat and you are bound to feel defeated. But practice confident thoughts, make it a dominating habit, and you will develop such a strong sense of capacity that regardless of what difficulties arise you will be able to overcome them.”
And, “The secret is to fill your mind with thoughts of faith, confidence, and security.”
I made many highlights and notes on those two paragraphs, then came the nugget that LEAPT off the page (in bold).
“I know a man who is a tremendous asset to his organization, not because of any extraordinary ability, but because he invariably demonstrates a triumphant thought pattern. Perhaps his associates view a proposition pessimistically, so he employs what he calls “the vacuum-cleaner method.” That is, by a series of questions he “sucks the dust” out of his associates’ minds; he draws out their negative attitudes. Then quietly he suggests positive ideas concerning the proposition until a new set of attitudes gives them a new concept of the facts.”
TRIUMPHANT THOUGHT PATTERN!!!
That’s what we should strive to bring as leaders and salespeople!!!
Here is the question I wrote to myself? “What can I do to make a TRIUMPHANT THOUGHT PATTERN my consistent discipline and contribution?”
For most organizations, Planned Giving is largely a reactive and complex conversation. It needs to be proactive and simple.
When using our For Impact TODAY/TOMORROW/FOREVER Funding Model, the beauty of having a complete funding model as part of your presentation is that it you are always able to talk about Legacy/Planned Gifts.
Instead of trying to figure out HOW to get into a conversation about estate planning you can simply say, “We talk to EVERYONE about ways to have an impact here, FOREVER.” (Visually referencing a complete funding model.)
In terms of simplicity, there are people out there that understand all the modes and vehicles for planned giving… they’re called estate lawyers and accountants!!
You (as a salesperson) don’t need to know all the mechanics. In our (simple) approach there are only three ways to make a planned gift:
‘Other’ includes all those ‘other’ complicated financial arrangements (including gift annuities) that we can pass off to an expert.
I really don’t believe this is oversimplification. As a salesperson your job is to present the opportunity to have an impact, FOREVER. 97% of the time they have their own accountant, lawyer, or insurance agent that can help them with the mechanics of the gift!
Keep it simple!
Culture is how you work.
Friction is a force of resistance.
At The Suddes Group we lead organizations through campaigns that advance impact. Every organization is perfectly designed to get the results it is getting and we view campaigns as a process that requires a change in design. Note: Change doesn’t have to be a deficit, it can be enhancement.
In every instance, there are elements of cultural (or team) friction that must be overcome. This is because the campaign process requires that the team changes how it works (and humans are complex).
In the world of physics, overcoming friction (static or kinetic) requires energy. The same is true in terms of overcoming a force of resistance in a team. You can apply more energy OR you can remove the force of resistance.
(Incidentally, overcoming friction also releases energy in the form of heat. The brakes on your car become very hot because they create enough friction to slow, or stop, your car).
I’ve been thinking about all the cultures in which we work and some of the sources of friction. They usually include one or more of the following:
Jim Loehr is my ‘virtual story mentor.’ I think the stuff the guy wrote in The Power of Story is the best there is – He says that the most powerful story in the world is the story we tell ourselves. He also says that anything that consumes our ENERGY can be a story (even if we don’t call it a story)!
Think about how much energy it consumes if we sit in a planning meeting telling ourselves, “No one has ever given us a million dollars. We aren’t designed for million dollar gifts.” Instead of a completely different story, “We’ve never asked for one million dollars, and that’s why we don’t have it!”
I’ll also comment on the wrong team (members). We’ve all been there. You can apply energy to overcome the force of a bad (or wrong) team member. Energy has a cost. But there is another cost, like the heat that emits from the brakes on a car, there is the heat that dissipates to your team.
We can apply energy to work through the resistance. Or, we can remove the resistance – change the story, develop a clear plan, change a team member, etc.
PS: In physics two objects in motion actually have TWO measurements of friction. There is static friction – which represents the force to overcome the static state. There is also kinetic friction required to keep a body in motion. It takes more energy to overcome static friction than it does to overcome friction in motion (kinetic). Same is true in our team culture(s).
I’m continuing to write about some mindful habits and insights to frame thinking and actions for the New Year.
Today’s post pulls together some thoughts on FOCUS and PRODUCTIVITY.
First, I’m highlighting Tom’s book notes from The Power of Full Engagement (read post). The powerful nugget:
Manage your energy, not your time!
Second, I want to highlight Paul Graham’s essay: Maker’s Schedule, Manager’s Schedule. Graham is the co-founder of Y-Combinator and Maker’s Schedule, Manager’s Schedule has been a guide for me since I first found it several years ago. Graham challenges us to think about two different MODES of working: (Bold emphasis is mine.)
There are two types of schedule, which I’ll call the manager’s schedule and the maker’s schedule. The manager’s schedule is for bosses. It’s embodied in the traditional appointment book, with each day cut into one hour intervals. You can block off several hours for a single task if you need to, but by default you change what you’re doing every hour.
When you use time that way, it’s merely a practical problem to meet with someone. Find an open slot in your schedule, book them, and you’re done.
Most powerful people are on the manager’s schedule. It’s the schedule of command. But there’s another way of using time that’s common among people who make things, like programmers and writers. They generally prefer to use time in units of half a day at least. You can’t write or program well in units of an hour. That’s barely enough time to get started.
When you’re operating on the maker’s schedule, meetings are a disaster. A single meeting can blow a whole afternoon, by breaking it into two pieces each too small to do anything hard in. Plus you have to remember to go to the meeting. That’s no problem for someone on the manager’s schedule. There’s always something coming on the next hour; the only question is what. But when someone on the maker’s schedule has a meeting, they have to think about it.
Read the full essay at http://paulgraham.com.
I partition most days into two parts. The first is the MAKER part of my day: writing, creative thinking, strategy. I will work from my home office… or my corner coffee shop… NOT AT THE OFFICE. Early mornings 5-10am are when I’m most creative (with an interlude to get the kids up, dressed, fed and to school). I then arrive to the office around 10 and schedule calls / meetings AFTER 10:30.* This let’s me FOCUS my creativity when my energy is highest around a MAKER schedule.
If you are a leader you need time to THINK. Manage your energy, not your time. When do you do your best thinking? PROTECT YOUR MAKER TIME. The science is clear and conclusive – we incur a heavy transaction cost associated with the interruptions that stop/start our ‘deep work’.