Winning in Business with Andrew Bryant
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Slidedeck from a recent motivation speech given by Andrew Bryant to Family Business owners from across Asia
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Winning in Business with Andrew Bryant
- 1. andrewbryant author | speaker | coach Winning in Business Are you a driver or a passenger?
- 2. 2 1961 “This is my Dad, he started his hardware business the year I was born”
- 3. 3 “This is me, I started working for Dad on Saturdays and school holiday from age 10”
- 4. 4 Medicine physiotherapy SPORT Mindset NLP Leadership B U S I N E S S coaching “I didn’t follow Dad into business but started studying”
- 5. Humility 1. An accurate (not underestimated) sense of one’s abilities and achievements. 2. The ability to acknowledge one’s mistakes, imperfections, gaps in knowledge, and limitations. 3. Openness to new ideas, contradictory information and advice. “I learned that humility is not making yourself less than someone else”
- 6. 6 “Mars Chocolate was not humble when it rejected the chance to sponsor ET”
- 7. 7 “Philips wasn’t humble when it ignored it’s own engineer when he suggested a music player tied to a content delivery system”
- 8. 8 Myth: Family firms are small “Family businesses are far from small, each of these is worth more than $20Bn”
- 9. 9 "only the best is the best"
- 10. 10 For Family Businesses to Survive They must play SMART
- 11. 11 “Firms must look inwards for developing leadership and they must focus outwards for professional help and market opportunities.”
- 12. 12 1. How do you give people the room to innovate while retaining focus? “Lego asked 3 Questions when it need to overcome tough times.”
- 13. 13 "The sector we are in is huge, so even if we carve out a small share in this multi-billion sector, that would to keep us going for a long time.“ - Richard Eu “Richard Eu was innovative whilst maintaining focus. He modernized the traditional”
- 14. 14 2. How do you allow autonomy while ensuring accountability? “You must apply and teach self-leadership to develop ownership.”
- 15. You have the power, To think and learn
- 16. 16 Cohesive “A leaders job is to bring themselves and their people together, to be cohesive.”
- 17. 17 3. How do you deliver over the short term while building for the long term? “Be like water.”
- 18. 18 Embrace Change “Only 13% of businesses survive to 3rd generation, so be humble and embrace change.”
- 19. 19 1. How do you give people the room to innovate while retaining focus? 2. How do you allow autonomy while ensuring accountability? 3. How do you deliver over the short term while building for the long term?
- 20. Are you the driver or the passenger? “Will you be a driver and drive innovation and groom your next generation for sustainability?”
- 21. 21 “A successful entrepreneur is a survivor, someone who may fall but always gets back up. Each generation has contemplated this spirit from a different perspective, but the continuity is the pursuit of a goal that is greater than oneself and bequeathing it to following generations.” Manuel Puig
- 22. Thank You For a chapter of my book selfleadership.com/free andrewbryant author | speaker | coach
Editor's Notes
- Do you like to win in business? Today I want to share some strategies so that you can be a driver rather than a passenger.
- In 1961 my father started the family hardware business… I couldn’t find a photograph of him at the time – this one is him a bit younger
- 1961 was the year I was born. Here I am a few year later. The 1960’s was a time many family businesses started. At 10 years old I started working in my fathers business. My older sister had already began working for him later my younger sister spend time there. Working for my father taught me many lessons. “Right or Rich Story.” Key message: Listen to the customer
- I did not take over my father’s business. Instead I followed an interesting path that brings me here today to speak to you about your business.
- I came to Asia in 2003 to teach coaching a leadership to Singapore Airlines. My friends told me that if I was to survive in Asia I would need humility. In Positive Psychology – humility is not making yourself less than others but having an accurate view of your strength’s and being open.
- 1982 M&Ms lost out to Reese's Pieces when Mars Candy were not open to New Perspectives and didn't grasp why it should be featured in the movie E.T Key Lesson: Have the humility to be open to new ideas
- Philips Electronics ignored their own engineer, Tony Fadell, when he pitched them a music player tied to a content delivery system. Steve Jobs did make the connection and the rest his history. Key lesson – listen to your People!
- Reality: Family firms constitute a major proportion of businesses in most developed countries, dominating the private sector in most emerging markets. Most of these businesses are in the 20Billion mark in terms of assets. Li and Fung - William Fung, Executive Chairman, Spencer Fung, Group Chief Executive Officer Products: Apparel, household goods, furnishings, toys, health and beauty products Revenue US$20 billion Kering (previously PPR) is the French luxury goods holding company owner of Alexander McQueen, Balenciaga, Brioni, Gucci, Puma, Volcom, and other luxury, sport & lifestyle brands distributed in 120 countries. The company was founded in 1963 by businessman François Pinault and is now run by his son François-Henri Pinault. Revenue €9.738 billion Eu Yan Sang is Revenues: €179.6 million (2012*) The Hartono family runs the Djarum Group which invests in Bank Central Asia, Djarum Black Mild, Grand Indonesia, Sarana Menara Nusantara and palm oil industries. Robert Budi Hartono is Indonesia’s richest tycoon, with a net worth in excess of $15billion
- My kids favourite Family Business is Lego. The Lego Group began in the workshop of Ole Kirk Christiansen , a carpenter from Denmark, who began making wooden toys. The Lego Group's motto is "only the best is the best" (more literally "the best is never too good").[5] This motto was created by Ole Kirk to encourage his employees never to skimp on quality, a value he believed in strongly.
- Only 13% of the firms make it into the third generation. However, keep in mind that non-family firms also go out of business. The sustainability of family firms is a matter of effort, good leadership, and planning combined with a generous dose of luck.
- Family firms must look inwards for the transfer of leadership and ownership. They must focus outwards for professional help and market opportunities.
- This was a question that family owned Lego had to ask when it had over diversified and started to lose money. It is often thought that family firms are too conservative in outlook; and are reluctant to take on additional debt or other external financing measures fearing the dilution of control. All attributes which are thought to hinder innovation. BUT Family businesses must innovate specifically to secure their long-term success, and so must have a clear vision of what kind of business they are in. Because family owned businesses are less motivated by short-term profits and show greater alignment between ownership and management; characteristics which are known to stimulate innovative behaviour. Latest research supports suggests family-ownership boosts both the quantity and quality of innovation as evidenced by the number and substance of its firm level patents. 11% more than non-family businesses.
- Innovation and Focus comes from the Top Richard Eu pretty much single handily changed the fortunes of Eu Yan Sang, the healthcare company founded by his great-grandfather in 1879. Since he joined the family business in 1989, Eu has focused on modernising the firm, which specialises in traditional Chinese medicine. He innvovated new products and improved distribution, turning Eu Yan Sang into a well known and fast-growing healthcare company in Asia.
- What am I showing here? That’s right, chess. Which piece of a chess board are you? Wrong you are all the pieces. You have choice how and when to move. We need to give our people ownership of choice to innovate, but clarity of purpose for the end goal. DEMONSTRATION of the power of ownership
- We each have super-abilities, We can think and learn We can feel and empathize We speak and inspire And we can act for success.
- A leaders job is to bring themselves and their people together, to be cohesive. Recently I was working with a national bank, and saved them 20 million dollars by getting two leaders to collaborate to avoid building duplicate systems. Story of performance over values, and how values and vision won. A collaboration between distributor and supplier… Demonstration of the power of collaboration
- “Be Like Water” – Bruce Lee We need water every day. But over time water can carve out a Grand Canyon. We must deliver to our customers current needs, whilst grooming a next generation to think differently, whilst being true to family loyalty and values.
- So if we want to be in the 13%, we must embrace change. Not to make the mistakes of Mars Candy or Philips and be arrogant to opportunities But to humbly know our strengths and engage in constant innovation and growth, whilst always offering the highest quality to our customers. As a coach my job is to keep asking questions. I have given you 3 questions today to reflect on.
- I would be happy to send you these slides so that you continue can continue to work on these and others questions.
- So will you be a passenger in business and just follow, Or will you be a driver and drive innovation and groom your next generation for sustainability.
- And now a word from our sponsor. Puig is a family business started by Antonio Puig, in Barcelona Spain in 1922 Here is a quote from his grandson Manuel. Despite challenges Puig has kept the vision and continues to innovate and deliver quality products.
- Finish with Poem – Stepping Stones or stumbling blocks.