By Mike Myatt, Chief Strategy Officer, N2growth

If corporate growth is what you seek, but you lack the patience to endure the slow pace of organic growth, and don’t have the capital necessary to finance an acquisition binge, then you might want to consider the many benefits associated with partnering.  While the concept of creating a strategic partnership is familiar to many, the reality is that few companies take advantage of them. Let me offer the initial disclaimer that the subject of today’s post is a complex area that would require much more in depth coverage to do it justice. That said, in the text that follows I’ll provide an overview of the many reasons why partnering should be included as a key component of your corporate growth strategy…

Acquisitions
Growth by acquisition in most cases constitutes a complex, capital intensive, and time consuming process. Furthermore the brain damage associated with an acquisition is just beginning when the deal closes. It is the difficulties associated with post acquisition integration that many companies often fail to consider. The merging of cultures, employees, technology, process etc., can cause what appears on paper to be the perfect acquisition to fall far short of expectations. Even in the case of an accretive acquisition, it can take far longer to reap the benefits than is often reflected in the initial projections.

Organic Growth
The predominant business risk associated with a reliance on pure organic growth is lost opportunity costs tied to a decrease in velocity of achieving business objectives. Many executives and entrepreneurs let their concerns about the certainty of execution, or loss of control associated with transferring responsibility to a third party keep them from pursuing strategies that accelerate growth. This type of antiquated thinking puts companies at a severe competitive disadvantage. Moreover, these concerns should not be an issue with the proper selection, operating structure, and management of a partner.  

Partnering
Joint Ventures, strategic alliances, corporate partnering, licensing, royalty, revenue sharing, distribution agreements, and numerous other collaborative business arrangements provide an exceptional opportunity to catalyze growth. These types of ventures can rapidly meet corporate needs for key resources, generate more customers, attract capital, acquire needed expertise, expand product lines, open new markets, secure new facilities, access new distribution channels, increase production capacity, and offer a whole host of other additional benefits. The reality is that few organizations have everything they need, and the basic principle behind partnering is that no matter what the need, there is another entity somewhere that can fulfill any unmet need.

The obvious advantages to partnering as contrasted with either organic growth or growth by acquisition is the low financial and operational barriers to entry, combined with very rapid deployment capabilities. The need for speed is critical to evaluate when considering partnering as on option. Corporate partnering is very commonplace in industries experiencing rapid technology change. There is often a strong correlation between the rate and scope of change within a particular industry, and the amount of partnering that occurs within said industry.

Partnering is an extremely fluid and flexible business model. There is no preferred methodology to structure and organization as each relationship should be engineered based upon its own unique requirements. Sometimes corporate partners form a new jointly owned entity, while in other instances one partner may purchase an equity interest in the other partner. However by far the most common method of structuring and governing partnering relationships is by written contract. The presence of a governing document allows both parties to address such issues as non-competition and non-circumvention, use of brand guidelines, intellectual property considerations, performance requirements, indemnifications, and winding-up provisions among others.

As fond of partnering as I tend to be, it is certainly not without risk. Care needs to be given to the underlying motivations and business logic behind the implementation of partnering as a strategy to begin with. You must be careful not to create or strengthen a future competitor, or to become dependent upon a partner for mission critical initiatives. Businesses looking to co-venture need to exercise extreme diligence when selecting a partner as said partner will become an extension of your brand.   

Regardless of the risks involved, or the form of partnering utilized, the business model has proven itself to be one of the preferred growth strategies of choice for companies desiring to maintain a competitive advantage.  Good luck and good partnering…

By Mike Myatt, Chief Strategy Officer, N2growth

I never cease to be amazed at how many times I receive a “deer in the headlights” stare when I mention the topic of business model architecture to even the savviest of senior executives. While most C-level execs have a general idea of what I’m referring to, it is also quite clear that most can’t even begin to define it, much less articulate the specific constructs of a sound business model. In today’s post I’ll attempt to define what a business model is, and what it is not…

If I decide to peel back the layers, and dig a bit deeper in my attempts at having execs define a business model, what I typically find is that they will confuse business logic and business rules as being a business model when they are simply components thereof. Also, a common response is to confuse a sales engine, fulfillment process, operational process, technology platform, or any number of other areas as business models, where this is not the case. Furthermore, a business plan, strategic plan, marketing plan, capital formation plan, exit plan, etc., are also not business models. My observations over the years simply lead me to draw no other conclusion than there exists a fundamental misunderstanding about what a business model is, about the value they afford, and about the absolute need to have one.

So, since we’ve discussed what a business model is not, let’s now address what it is…A business model is a completely integrated system that aligns core logic, business rules, value propositions, talent and resources, and operational processes in order to catalyze growth in assets (financial and non-financial), competencies, and constituencies, toward the creation of value. Business models must be designed with great care at the outset, but they must also be fluid in order to react to changing market conditions and avoid becoming stagnant. A specific example of this would be that while a company’s business plan may not change for a number of years, the company’s business model consistently evolve, or may even need to be reengineered to insure the execution of its business plan.

Put rather simplistically, a business model is the system that defines what creates value, generates growth, and increases revenue and profit within your organization. The primary advantage that a business model has over any number of other strategic frameworks lies in the fluidity of its inherently dynamic nature. Rather than binding the enterprise to a rigid set of static operating principles and procedures, the elasticity and flexibility of a well defined business model allows the organization to influence necessary inflection points and key business drivers in a real-time manner.

The bottom line in regard to today’s thoughts on business modeling can be summed up in the following three points: 1.) if you cannot define your business model, then you likely don’t have one. 2.) if you don’t have one, create one, and; 3.) if you have one and it isn’t working, you have a flawed business model in need of immediate reengineering.

By Mike Myatt, Chief Strategy Officer, N2growth

It’s not what you have, but what you’re able to make out of what you have that matters. All great CEOs understand in the concept of creating leverage via proper resource allocation. Top CEOs know how to create resources where none exist - they know how to deploy and redeploy resources to maximize opportunities and to minimize risk. So my question to you is this…are you over-resourced, under-resourced, resource aligned, or do you even know? In today’s post I’ll look at the topic of resourcing as a key success metric for CEOs…

If you think CEO means chief everything officer, you won’t last very long at the C-suite level. An attitude of attempting to do everything yourself is nothing short of a recipe for disaster as a CEO, and in fact, is exactly the opposite of how top performing CEOs think. Furthermore, the best CEOs consistently spend time contemplating how not to do things themselves. Let me be clear that I’m not advocating an abdication of responsibility, but rather an understanding of highest and best use of financial, human, and technology resources. Without leveraging down it is virtually impossible for a CEO to create any real velocity or momentum in growing the enterprise.

It has been my observation that when deadlines are missed, or important initiatives don’t get off the ground, it is usually an issue of poor resource management. When I hear CEOs say things like “I didn’t have time” or “I didn’t have the necessary resources” I only have one question: Why not? When I hear a CEO complain about a lack of revenue growth while maintaining a small sales force supported by paltry marketing investments…well go figure. You see if the project/initiative was worth planning and implementing, it should have been worth resourcing. As a CEO, if you couldn’t resource the project you either had a flaw in your planning process, you misunderstood or misapplied your talent, or you should have never started the project/initiative to begin with. The most successful CEOs are like the corporate version of MacGyver in that they can overcome any obstace with whatever resources they have at their immediate disposal.

If you expect miracles from your under-resourced staff you are likely to be disappointed. However if you expect great things from an appropriately resourced staff, you will be consistently rewarded. If you continually stretch your resource rubber band too tightly, trust me when I tell you that it will eventually snap. As a CEO, your goal is not to see how much you can get out of your people, but rather how much leverage you can create for your people…there is a big difference.

On the flip side of the coin is being over-resourced…overspending is not the same thing as making prudent investments. Just throwing money and resources at a problem is not a solution…it simply constitutes unnecessary margin erosion. Overspending is a tactic for the lazy or the incompetent. The trick is to throw the right talent, and the appropriate investment at a challenge in a fashion that creates a certainty of execution while still generating return on investment.

The bottom line is this…apply your best talent and the lion’s share of your operating capital towards exploiting your greatest opportunities or toward solving your greatest challenges. Everything else is majoring in minors…

By Mike Myatt, Chief Strategy Officer, N2growth 

The path toward any accomplishment worthy of note begins with the first step. Understanding and implementing the concept of “actionable leadership” is a major key to success in becoming a great CEO. Much has been written about leadership theory, leadership concepts, leadership style, leadership dynamics, what leaders are, or are not, and a plethora of other leadership-centric content. However my question to you is this: What is leadership without action? Theory is fine for the classroom, but in the business world, theory without action is little more than useless rhetoric. Don’t tell me, show me…Don’t talk the talk, but walk the walk. In today’s post I’ll discuss the element that separates wannabe leaders from authentic leaders…Action.

Do you have great vision? Are you a master of strategy? Do you have boundless energy or mesmerizing charisma? While the aforementioned qualities are certainly admirable, they are only valuable if they influence or create action. Walt Disney, one of the greatest creative talents and true innovators of our time realized the value of action when he said: “The way to get started is to quit talking and begin doing.” 

A close examination of truly great leaders will reveal that, to the one, they all have a strong bias toward action. It was Andrew Grove the former Chairman and CEO of Intel and Time Magazine’s 1997 Man of the Year who said “You have to take action; you can’t hesitate or hedge your bets. Anything less will condemn your efforts to failure.” If you can’t take action, if you can’t make the tough decision, and if you can’t instill a bias toward action in your peers and subordinates, then you don’t belong in a leadership position.

A critical part of the talent management life-cycle is leadership development. If your mentoring and training programs don’t focus on the development of action oriented leaders then you are simply breeding obselesence, and utlimately…failure. When an organization stops learning they begin dying. It is more critical than ever in today’ economic climate that leadership development be a top priority for CEOs who want to build a thriving enterprise moving forward.

Remember that leadership is not a spectator sport. Great leaders will do anything to get off the bench and into the game. If your company has passive and/or timid leadership you will face serious problems in sustaining your competitive advantage. Furthermore, if your company isn’t leveraging action learning to develop leaders, fuel innovation, foster collaboration, and catalyze growth then you are missing a substantial opportunity. My message is a simple one…stop pondering and pontificating and take action.

By Mike Myatt, Chief Strategy Officer, N2growth

When you reach a fork in the road with those you lead, what do you do? Leading those inclined to follow is significantly less of a challenge than leading those who don’t want to be led. Anyone who has ever been in a leadership position has had to deal with the inevitable tough relationship that causes more than its fair share of brain damage. At some point in time we’ve all been involved (directly or indirectly, willingly and unwillingly) in the coporate politics of turf-wars, empire building, silo-centric ignorance, title inflated ego and arrogance, and the list goes on…Regardless of the politics in play, it is a leader’s responsibility to effectively lead not only those that agree with their position, but they must also lead those that hold dissenting opinions.

There are always those who choose to oppose or undermine authority, but that in and of itself does not remove the obligation of a leader to fulfill his or her duty. While likeability is a great asset to possess as a leader, it is not essential. It is however essential that you command the respect of those you lead. Respect is earned by honoring commitments and doing the right thing regardless of opinion, sentiment, or influence. It is through right acts, good decisions, and honest communication that you earn respect and maintain rapport even with those who are not necessarily your greatest supporters.

A key point to consider when things don’t seem to be going as smoothly as you would like is that different perspectives, competing agendas, and opposing positions can sometimes present the opportunity for growth and enlightenment. If differing opinions are looked at as an opportunity as opposed to a set-back then I believe positive steps can be taken. What I like to refer as “positional gaps” are best closed by listening to both sides, finding common ground and then letting the principle of doing the right thing guide the process. When you develop the skill to transform negative conflict into creative tension then you will begin to command respect even from those who don’t agree with your positions.

It is absolutely possible to build very productive relationships with even the most adversarial of individuals. Regardless of a person’s original intent, opinion or position, the key to closing a positional gap is simply a matter of finding common ground in order to establish rapport. Moreover, building rapport is easily achieved assuming your motivations for doing so are sincere. I have always found that rapport is quickly developed when you listen, care, and attempt to help people succeed. By way of contrast it is difficult to build rapport if you are driven by an agenda that is not in alignment with the other party

While building and maintaining rapport with people with whom you disagree is certainly more challenging, many of the same rules expressed in my comments above still apply. I have found that often times conflict resolution simply just requires more intense focus on understanding the needs, wants and desires of the other party. If opposing views are worth the time and energy to debate, then they are worth a legitimate effort to gain alignment on perspective and resolution on position. However this will rarely happen if lines of communication do not remain open. Candid, effective communication is best maintained through a mutual respect and rapport.  

In an attempt to resolve any conflict, the first step is to identify and isolate the specific areas of difference being debated. The sad fact is that many business people are absolutists in that they only see things in terms of rights and wrongs. Thinking in terms of “my way” is right and therefore “other ways” are wrong is the basis for polarizing any relationship, which quickly results in converting discussions into power struggles. However when a situation can be seen through the lens of difference, and a position is simply a matter of opinion not a totalitarian statement of fact, then cooperation and compromise is possible. Identifying and understanding differences allows people (regardless of title) to shift their position through compromise and negotiation while maintaining respect and rapport.  The following perspectives if kept top of mind will help in identifying and bridging positional gaps:

• Respect leads to acceptance.
• Accepting a person where they are, creates an bond of trust.
• Trust, leads to a willingness to be open to:
  • new opportunities;
  • new collaborations;
  • new strategies;
  • new ideas, and; 
  • new products.

While I like to think that I have earned the respect of the majority of those I have led over the years, I am not so naive to think that that all have liked or supported my positions. That being said, I have nonetheless had to lead them as well. I have been able to accomplish this by adhering to the following principles:

1. Hit conflict head-on…You can only resolve problems by proactively seeking to do so;
2. Always attempt to understand others motivations prior to weighing-in on an issue;
3. Say what you mean, mean what you say, and follow-through on your commitments;
4. Never be swayed by consensus, rather be guided by doing the right thing;
5. Know that no person is universally right or universally liked, and become at peace with that, and;
6. Regardless of whether or not perspectives and opinions differ, a position of respect must be adhered to and maintained. Respect is at the core of building business relationships. It is the foundation that supports high performance teams, partnerships, superior and subordinate relationships, and peer-to-peer relationships. Respecting the right to differ while being productive is a concept that all successful executives and entrepreneurs master.

By Mike Myatt, Chief Strategy Officer, N2growth

There seems to be a popular movement afoot that believes the word “no” is the super antidote to the far inferior word “yes.” There are many well known axioms espousing the benefits of learning to use the word no with greater frequency. In fact, there are some very bright people that believe you cannot become a good leader without developing a mastery for using the word no as evidenced by the following quote from Tony Blair: “The art of leadership is saying no, not saying yes.” I couldn’t disagree more…In today’s post I’ll share my thoughts on what I refer to as the fallacy of no.

Let me ask you a few simple questions: How do you feel when you’re told no? Does it leave you feeling positive about yourself? Does it make you feel like your contributions and opinions are valued? While inherently obvious, it should not go unnoticed that the use of the word no is 100% negative. The word no ends discussions, stifles creativity, kills innovation, impedes learning, and gates initiative. Put simply, the word no advances nothing, grows nothing, builds nothing and incentivizes nothing. No is not all it’s cracked-up to be…

Let me put it to you another way…If as a leader you find yourself always saying no, what does that tell you about your leadership ability? It means your vision is not understood, your team is not aligned and your talent is not performing up to par. It means you’re not teaching, mentoring, communicating, or leading.  The perception that strong leaders say no and weak leaders say yes is simply flawed thinking. A constant stream of “no’s” is not a positive sign, it’s a warning sign that needs to be heeded.

The most common reasons people tend to cite in support of using no is it helps to keep them from wasting time, that is somehow manages risk, and that it helps them focus by not biting off more than they can chew. These agendas are better accomplished with clear communication, effective collaboration, and prudent resourcing – not by saying no. Great leaders help people get to a yes - in other words, they teach them how not to receive a no. Rather than just kill something with a quick no, a good leader uses every  adverse scenario as a development opportunity to help people advance their critical thinking and decisioning skills. 

While I understand that there are times when using no may be your only option, those times should be the exception and not the rule. Bottom line…Yes is not a sign of weakness – it’s a sign of intelligent leadership. Next time you’re tempted to say no, do yourself a big favor and find a way to work around the obstacle and toward a yes.

By Mike Myatt, Chief Strategy Officer, N2growth

Ever wish you could promote your blog for free to a receptive audience? Well, today is your day for fully authorized, gratuitous self-promotion of YOUR blog. For one day only, this is your chance to shamelessly plug your blog in the comments section below. I stumbled across this idea from @sarahrobinson over at Escaping Mediocrity and thought it was a fantastic way to help readers that share common interests find one another. So here’s how it works – In the comments section of this post include: Your name, blog name & description, link to your blog, RSS feed, your Twitter handle and any other relevant information you think would be of interest to other readers. I’ll approve all comments appropriate for our audience (G-rated only). Have fun and enjoy the link love…

By Mike Myatt, Chief Strategy Officer, N2growth

Today’s message is not likely to please the politically correct, nor will it mollycoddle the timid. I’m not going to address competing or playing nicely, rather I’m going to deal very bluntly with the topic of winning. Want to succeed? It’s easier than you might think…just don’t quit. Strip away the excuses, rationalizations, and justifications, and the only thing standing between you and the attainment of your objectives is what you see staring back at you when you look in the mirror each morning. In today’s post I’ll examine the benefits of playing to win…

How quickly time passes…in only a matter of a few weeks we’ll close out the first 3 months of 2010. So I have a few questions for you: Are you on pace to meet your objectives? Will you be carrying positive momentum into Q2, or will you be playing catch-up from the get go? If you think Q1 passed quickly, it won’t be long before you’re feeling the same way about Q2. Did you just show up the last few months, or did you play to win?

I’m a big fan of the Die Hard movies, and the one thing you have to admire about the main character, detective John McClain (played by Bruce Willis), is that regardless of the obstacles he encounters, he just won’t quit. Granted, the aforementioned example of determination against all odds comes from a fictional character, but the fact of the matter is that successful people play to win. They don’t indulge themselves in half-hearted attempts destined for failure, rather they choose to focus all their efforts and energies on accomplishing their mission. 

My first football coach used to say: “Don’t even bother showing up if you’re not going to play to win…” Mind you I tend to be a bit competitive, but even so, that phrase has stuck with me my entire life. I don’t often bother with taking on an endeavor unless I plan to accomplish the task at hand, and that means not quitting until I meet the objective. It is that “refuse to lose” and “never say die” attitude that I picked-up on the playing field, and had further reinforced during my time in the military that provides me with a competitive advantage.

I have found that dedication, determination, attention to detail, commitment, and focus are the traits that have been most valuable to me throughout the years, and are therefore the strengths that I tend to play to. The good news is this…if you examine the aforementioned traits you’ll quickly see that I possess no special skill, and I have no secret tricks up my sleeve. Rather the things that have allowed me to serve my clients well, are things that anyone can harness and leverage if they possess one thing…the desire to do so.

I could certainly paint a more complex picture of what it takes to be successful by citing esoteric management theories, but the truth of the matter is that I just don’t quit until I get the job done. I don’t spend my time complaining about the challenges and obstacles, rather I spend my time solving problems and creating solutions. If my objective is to get to the other side of the wall, I don’t really care if I go over the wall, under the wall, around the wall or through the wall…I just care that I get to the other side. While I might spend a bit of time evaluating the most efficient strategy for getting to the other side of said wall, it will ultimately be my focus on the tactical execution of conquering the challenge that will determine my success. A bias toward action is always a better path than falling prey to analysis paralysis.

I once played an entire half of a football game with a broken ankle, early on in my first entrepreneurial venture I found myself at a critical nexus and chose to liquidate personal assets to meet payroll, I’ve gone as many as 4 days in a row without sleeping to stay the course and solve a critical issue, I’ve led teams to achieve things that others said couldn’t be accomplished, I’ve kept my family a priority being happily married for more than 25 years and having raised two wonderful children, and the list could go on…My point in describing these actions is not to pat myself on the back for anyone could have done these things, but the reality is that most people don’t. They choose to accept defeat…they don’t play to win…They aren’t willing to do what it takes to be successful…They quit. 

Quitting is a temptation that all of us are consistently confronted with. The reason that so many people become a casualty of giving up, is because they can. Put simply, quitting is one of the easiest things to do in life. If you take your eye off the ball, even if only momentarily, that’s all it takes for most people to throw in the towel is a tinge of anger, humiliation, panic, rejection, stress, frustration, hurt, pain, jealousy, sorrow or anguish. Look back on your live, or the lives of others, and you’ll find numerous instances of people who took the easy way out and just quit.

Upon further examination, you’ll also find that the people who have succeeded in life are those people who displayed the grit and fortitude to stay the course. They are the ones who possess the desire and will to overcome whatever challenges and barriers that happen to be placed in their path.

My message to you as we enter Q2 is simply this: Play to win…Don’t compromise your values, define your vision, refine your mission, architect your strategy, identify your objectives, set your goals, implement your tactics and engage in willful, purposeful action. Stay focused and do not quit until you’ve met your objectives…

By Mike Myatt, Chief Strategy Officer, N2growth

Why do business fail? Given the current state of the economy, I would say it’s a safe bet that many of you have pondered the answer to this question as we watch companies close their doors on a daily basis. The unfortunate reality is that well more than 50% of all new business ventures fail within the first three years, and especially during tough economic times, many mature, even once category dominant companies fail over time. In today’s post I’ll share my thoughts as to the real number one reason why businesses fail – It’s not what you think…

I don’t believe there’s too much debate among “the experts” that the most frequently cited cause of business failure is a lack of capital. While the recent events on Wall St might lead you to believe it’s true, capital while clearly a nice luxury, doesn’t make a large operating reserve a necessity (here I go picking on “the experts” again). You see, I have witnessed well capitalized ventures fail miserably, and severely under-capitalized ventures eventually grow into category dominant brands. A lack of capital can provide a socially acceptable excuse for business failure, but it is not the reason businesses fail.

Before we go any further, let’s just put a fork in the lack of capital excuse…While it may be every entrepreneur’s fantasy to launch their business with 5 years operating reserves in the bank, the reality is that this very rarely happens. Additionally, it is not really the amount of capital a venture secures, but rather the relationship between the amount of capital raised and identified capital requirements…as we’ve all watched in recent months, the real issue is not how much capital you have, but rather how effectively the capital is deployed and managed.

I would go so far as to say that well capitalized start-ups may have a higher mortality rate than their thinly capitalized counterparts. When capital is a scarce commodity, each spending or investment decision tends to be made with great care. A lack of capital forces entrepreneurs to prioritize their decisions, and to focus their efforts on high impact areas. Well capitalized ventures on the other hand often make ill-advised decisions, and frivolous expenditures that result in lower margins and increased commitments to overhead creating unnecessary operational burdens on the enterprise.

The reality is that you can ask 10 different people why businesses fail, and you’ll likely receive 10 different answers. While each answer could well be a contributing factor to the demise of a business venture, there is in my opinion one singular cause for all business failures…a lack of sound leadership. When I refer to leadership in today’s context, I’m pointing specifically to executive leadership as represented by the entrepreneur or CEO. In the 10 points listed below I’ll examine some of the more common reasons attributed to business failure, and I’ll likewise assess the roles and responsibilities of leadership as they pertain to the following reasons:

1. Lack of Vision: It is the role of the CEO to clearly define and communicate the corporate vision. If there is no vision, a flawed vision, or a poorly communicated vision, the responsibility falls squarely in the lap of executive leadership. Moreover, if the vision is not in alignment with the corporate values there will also be troubled waters ahead. No vision equals no leadership… 
2. Lack of Execution: Everything boils down to execution, and insuring a certainty of execution is job number one for executive leadership. If as an entrepreneur or CEO you don’t focus on deploying the necessary talent and resources to insure that the largest risks are adequately managed, or that the biggest opportunities are exploited, then you have a leadership team destined for failure.  
3. Lack of Capital: Raising, deploying, and managing capital is ultimately the responsibility of leadership. The amount of capital required to run a business is based upon how the business is operated. Therefore if leadership operates the business without consideration for capital constraints, or irrespective of capital formation issues, then the blame should fall squarely on the shoulders of leadership. Morever, if executive leadership squanders capital through irresponsible acts, there will also be severe consequences.  
4. Lack of Management: It is the job of leadership to recruit, mentor, deploy, and retain management talent. If the management team is not getting the job done that is the fault off executive leadership.
5. Lack of Sales: A lack of sales is ultimately attributable to a lack of leadership. Pricing, positioning, branding, distribution, or any number of other metrics tied to sales force productivity all rest with executive leadership.
6. No Market: Good leadership pursues sound market opportunities. Pursuing the wrong market, or pursuing the right market improperly is also the fault of executive leadership.
7. Poor Professional Advice: Nobody has cornered the market on knowledge and wisdom. If leadership doesn’t seek out the best quality advice available to them, then they will likely not make the best decisions. All CEOs and entrepreneurs need top quality professional advisers.
8. The Inability to Attract and Retain Talent: Great leaders surround themselves with great talent. They understand that talent begets more talent. If your company doesn’t possess the talent it needs to achieve its business objectives no one is to blame but leadership.
9. Competitive Awareness: A business does not need to be the category dominant player to avoid failure. That being said, it is the leadership’s responsibility to understand the competitive landscape and navigate it successfully. 
10. Obsolescence or Market Changes: If executive leadership is in touch with the market it will be difficult to be caught by surprise. It is the responsibility of executive leadership to make sure that the proper attention is given to innovation, business intelligence and market research to manage the risk of obsolescence and market changes.   

Bottom line…the talent that it takes to operate at the C-suite level is matched only by the amount of responsibility that goes with the territory. If it was an easy job everyone would be a CEO or entrepreneur.

By Mike Myatt, Chief Strategy Officer, N2growth 

As the Academy Awards drew to a close last night I felt compelled to post the following message on Twitter: “I’d prefer a TV awards extravaganza to honor our real heroes instead of those who imitate them.” At the risk of drawing fire from the media and rabid movie fans, I’m beginning to grow weary of propping-up social climbers as heroes. While there were certain notable exceptions, for the most part it was yet another display of the self-indulgent, narcissistic view of the world through the very skewed lens of Hollywood. My question is simply this: besides make movies, what did these celebrities do to reach hero status? When our culture holds celebrity status in higher esteem than those who place service above self, we all need to take a long look in the mirror. Our nation’s senses have been dulled by an addiction to celebrity worship to the point that those who tend to live the most bizarre, reckless, and self-centered existence seem to be glorified above all others.  

If the media wants to help restore the character and integrity of our nation, as opposed to contribute to its decline, my suggestion would be that they spend more time celebrating the true American legends and heroes…soldiers, firefighters, law enforcement officers, principled educators, theologians, medical practitioners, responsible parents, student achievers, volunteers, statesmen (notice I didn’t say politicians), good Samaritans, and the every day hard working American citizen. 

I looked-up the definition of “hero” in several of the online dictionaries and cobbled together the most common references and citations which define a hero as: a person of great strength and courage, admired for qualities, achievements and moral character which are regarded as an ideal or model to be honored.  While many celebrities have compelling life stories, in some cases having overcome many obstacles in their pursuit of fame, they sought personal fame and fortune above other more laudable pursuits normally associated with heroes…most notably service and sacrifice on the behalf of others without regard for personal recognition. 

The sad reality is that the lives of celebrities often provide a greater lasting example of sadness and tragedy than greatness. Whether they die of an apparent suicide like Marilyn Monroe, in cloudy circumstances like Anna Nicole Smith, Elvis, Bruce Lee, Jim Morrison and Michael Jackson, or in an untimely event like the car crash that took the life of James Dean, there are more examples left behind of how not to live your life than a blueprint you would pass on to your children as an example for greatness.  

Real Heroes and legends do exist, but from my perspective they rarely appear in the form of pop culture celebrities…I can tell you that I for one find it truly disgusting to have the media continue to focus on the latest oh so boring social icons (athletes, recording artists, movie stars, politicians, the super-wealthy, and other pseudo-celebrities) who are all too often forced upon us while being portrayed as heroes when they are clearly not. The focus should be on the lives of those that are making a positive difference in the world…those whom we would gladly submit to our children as honorable examples of how to live life.

We are fighting wars in Iraq and Afghanistan, Iran is in chaos and on the brink of revolution, North Korea has taken its saber-rattling to new heights, lives are being given and taken daily in pursuit of honorable endeavors, and yet we stop everything to gawk at actors on a red carpet? Give me a break…