growth

Looking for Growth in Lean Times? Look North to Canada!

There’s no getting around it, times are tough and we may still be in for more of these lean times for years to come. Every company is looking for that elusive source of growth to keep driving the top line, or at least to replace any shrinkage in business from the downturn.

But in difficult times growth can be a hard thing to find and merchants both online and offline need to be creative and on the lookout for any potential sources of new growth. For those in the United States still struggling to find growth in the aftermath of the real estate and banking meltdown I have one word which may be the answer and that is … CANADA!

Canada you say? What’s different about the situation north of the 49th parallel that might make it a growth opportunity for me? Well to borrow a phrase well worn south of the border the first answer is “It’s the economy stupid!” On whichever metric one compares, Unemployment, GDP, Inflation or Currency, Canada has fared better during this downturn. Relative to Unemployment, at the start of the downturn Canada and the US were both tracking an Unemployment rate of roughly 6% and since that time the spread has grown to 1.5% with roughly 9% in the US versus 7.5% in Canada. Looking at GDP, Canada and the US both went negative in 2008 and based on aggressive stimulus both returned to roughly 3% in 2011, however since that time there is about a 1% spread with Canada at 2.75% and US at 1.75%.

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‘Rocket Fuel’ and Marketo’s $50M Funding News

This morning, we had some great news here at Marketo. We announced a large round of primary capital funding – $50 million – led by new investors Battery Ventures. We’re delighted to welcome Battery, and General Partner Neeraj Agrawal, to the Marketo journey.

The media have been enthusiastic about our news, but today’s announcement is just the tip of the iceberg of a truly breakout year for Marketo. The broader business economy is hungry for ways to grow, especially given the current economic climate (I recently wrote on Forbes about the ways turmoil breeds opportunity). Indeed, there’s a new class of cloud technology that is transforming the enterprise, and business overall. Marketo is right in the thick of that transformative shift.

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4th of July – “Independence Day” – Declare Yours!

The thought of Independence Day brings to mind the current economic environment as well as personal family challenges for me. Many of us go through our lives, day to day, thinking that our only recourse is to put our heads down, one foot in front of the other, and persevere. It is easy to fall into this rut and believe it is the proper course, the only way to go, and all we have to hope for in the future.

I say NO. “Action is the active ingredient that transforms goals into reality!” Let us never forget that we can always improve the situation in which we live, make a better life for ourselves and the ones we love, and effect/fight for change even when the odds are against such change. Being courageous enough to act on your goals/desires/needs to make a better life, better widget, better business and/or better world, is the first and most crucial step in making your goals into reality.

I experience this realty each and every day in business and personally. I am 52 years old, have had big wins and big losses in business, and know that the game is far from over. There is huge opportunity presenting itself today in this new social media world and I am determined to not let it pass me by and finish with that desperately needed win. YOU CAN DO THE SAME.

In addition I face serious challenges in my personal life that many would walk away from, as I have been told over and over by those who would and many who have seen those who do; but I am determined to have a positive effect on the lives of my daughters and face those challenges head-to-head each and every day. Although this is exhausting mentally and physically, I do not bow in the face of the onslaught and odds that have been against me from the start.

Therefore in the face of all these financial and personal challenges we all face… I declare MY PERSONAL “Independence Day,” and you need to do the same!

Growing Into Leadership

sprout

People aren’t born into leadership positions. We usually start in the trenches, as the doers. The bricklayers. The people touching all the parts, from the inside out. We earn the right to lead the projects and the vision by doing the work itself, and doing it well. But therein usually lies the rub.

Because the hardest part of learning to lead well is letting go of the execution, the very thing that earned us our spot at the head of the team, and entrusting others with the building and construction.

The old saying of “if you want something done right, do it yourself” just doesn’t play at scale. That’s not how great ideas come to fruition, and it’s not how great businesses are built.

As I’ve learned to lead rather than do (and that’s a constant process), a few key concepts have helped me a great deal to stay on track, and perhaps they’ll help you too, or someone you know emerging into a leadership role.

Navigation:

* Build consensus around shared goals and direction.
* Present the what – the shared vision or goals – but not necessarily the how.
* Communicate expectations clearly and often.
* Avoid dictating the plans yourself, but rather help refine the roadmaps that others have built and presented.

Advocacy:

* Champion and enable others’ ideas instead of always handing others ideas to execute.
* Allow your teams sometimes to fail in their search for the approach that works, and to help them find the lessons in those failures.
* Protect nascent ideas and allow them time to incubate without immediate interference from bureaucracy and naysayers.
* Encourage respectful discourse and sharing of opinions and viewpoints, including opposing ones.
* Recognize success openly, sincerely, and often.

Perspective:

* Provide context, history, and organizational intelligence to empower your teams with information upon which to build their plans.
* Look past today’s projects to envision what tomorrow might look like and how you can guide toward it.
* Present alternative views or looks at stubborn problems.
* Consistently evaluate team dynamics and capabilities, and make the tough people decisions to ensure you’ve got the right people in the right roles.

Trust:

* Provide direct lines of communication with each team member, and be available.
* Keep confidences, period.
* Hire capable, smart people, and be willing to get out of their way.
* Be responsible and accountable for your decisions and their results, and avoid scapegoating and blame.
* Share the credit, and the spotlight.

Learning to be a leader can be challenging when you’ve built a career on doing the work. Old habits die hard. It’s sometimes hard to believe that anyone can do what you do and do it as well, or better. But if you’ve got designs on building something bigger than you, you’re going to need to build and empower a team around you. It’s just not possible to do it alone.

So what would you add to my list? How would you help new and emerging leaders get comfortable with their roles? I’m looking forward to your comments. Fire away.