A day in the life at MIT
A month after returning from the MIT Sloan School of Management seemed like the opportune time to reflect on the impact it has had on me. What better way to do this than through a LinkedIn article to share a summary of what I learnt and how this can apply to my career.
Ready to Launch
Having the right mindset can change everything. When commencing the MIT Immersion, Stu Krusell did this on Day 1.
âThe sweetest melody is the one you have never heardâ (U2, 2009)
On the day I thought this was a trivial way to kick-off the immersion, but in reflection this one quote set the context for the two weeks ahead. We simply do not know what we donât know. However, don't shut off an stop learning.
"Be curious, not judgemental"
Idea, Team and Customer
Regardless of the project, build a multi-disciplinary team. Choosing the right customer can lead to your success, choosing the wrong can lead to your failure. In the client setting, this could be choosing to service a sector which eliminates you from other sectors depending on the views of that organisation. Similarly, choosing the right customer, could lead to a significant uptick in opportunities if that customer increases your reputation and thereby increases your exposure, leads and subsequent contracts.
"Great Artists Steal"
The phrase "great artists steal" highlights that truly great creators do more than imitate; they take existing concepts, rework them, and make them their own. It emphasises the value of adaptation, transformation, and innovation in art and creativity, rather than simple replication. Bill Aulet 's book, Disciplined Entrepreneurship, is a truly epic framework to make informed decisions to make you a better entrepreneur, or even business leader.
Paul Cheek introduced us to the âMouse Trap Modelâ â A simple yet very effective tool to obtain customers this really opened my eyes to an approach to obtain customers which I simply had never thought of before. Ultimately, it helps you determine if there is market demand before building then product (can you sell the product which therefore justifies investment into the product).
Mens et Manus
Mind in hand. Not only MIT's motto, but what they live by day-to-day. We are gifted and privileged to be on this planet. We have a responsibility to take what we know and bring it to the world ( Rachel Peters Card )
We can't do it alone
Within a team, when rolling out a new strategy or initiative. Get the whole team to write it down. When they write it down, they may find that they donât share the same vision for the company. Just writing down the hypothesis can significantly increase the chance of success.
4 Capabilities Leadership Model
Global strategy
"Be curious, not judgemental" - the only way to stay relevant/current in a forever changing and innovating world ( Stu Krusell ).
The "hummingbird fire" analogy tells of a small bird trying to put out a forest fire, carrying tiny drops of water while larger animals stand by, doubting its impact. The hummingbird replies, "I'm doing the best I can," showing that even small efforts matter in the face of big challenges.
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Be the hummingbird - little impacts matter!
Future Ready
We need to break biases when looking to form a team: people are often overlooked for a variety of biased reasons and perceived flaws.
Take consideration of how I would move my team to âfuture readyâ I could place an initial focus on increasing our efficiency in our time-consuming tasks to minimise the overall time spent. This would cause increase time availability to spend on the more strategic tasks which lead to greater overall outcome, but are at times completed in a time constrained environment given the large amount of time spent in the time-consuming area.
Be Like Toyota
There is no silver bullet to organisational change, you need to âtinkerâ with all the ingredients.
An organisation that effectively implements and excels at organisational change is Toyota. Toyotaâs Kaizen approach involves continuous, incremental improvements at all levels of the organisation. Encouraging everyone in your company to regularly suggest small improvements creates a culture of innovation.
Leadership Philosophies
These are the leadership philosophies I will carry forward from my time at MIT:
Implementation Strategies
The following are three key implementation strategies (at a high level) that I intend to implement within my team, following the experience gained from MIT:
Business Implact
The experience at MIT highlighted three clear business impacts that I see as having the greatest impact on the continued success or demise of my organisation:
Experienced CEO and senior executive
2wGreat reflection Robert. I canât believe itâs been a month already!