{"id":3881,"date":"2017-03-01T09:38:00","date_gmt":"2017-03-01T09:38:00","guid":{"rendered":"http:\/\/localhost\/projects\/horsesforsources\/what-it-takes-to-swim-with-sharks-in-business_030117\/"},"modified":"2017-03-01T09:38:00","modified_gmt":"2017-03-01T09:38:00","slug":"what-it-takes-to-swim-with-sharks-in-business_030117","status":"publish","type":"post","link":"https:\/\/www.horsesforsources.com\/what-it-takes-to-swim-with-sharks-in-business_030117\/","title":{"rendered":"What It Takes To Swim With The \u201cSharks\u201d in Business"},"content":{"rendered":"

\u201cI\u2019m putting more money behind women-run businesses because of return of capital and performance; this is what matters,\u201d said self-made millionaire Kevin O\u2019Leary, in the closing keynote at HIMSS2017 last week. When it comes to growing a business, Kevin has a proven track record you can easily find online if you don\u2019t already know it from the U.S. hit show, Shark Tank. He has invested millions<\/a> in startups over eight seasons of the show that hosts entrepreneurs pitching businesses and requesting support.\u00a0<\/p>\n

\u00a0<\/p>\n

When taking a look at the returns in his portfolio, Kevin O\u2019Leary noticed the ones with the greatest returns are owned or run by women.\u00a0 And what he called out about their management style is universally applicable in business.<\/strong><\/p>\n

It may also be a reason why we\u2019ve seen in our research at HfS that the #1 thing that executives would change about the outsourcing services industry \u2013 per 25% of respondents \u2013 \u201cmore women in executive roles.\u201d What we can learn from women-run businesses that are realizing higher results:<\/p>\n

    \n
  1. Allocation of Time:<\/strong> \u201cIf you want something done, give it to a busy mother.\u201d This is about focusing on what you know needs to get done first to impact the outcomes that matter; and about delegation, not trying to \u201cdo it all.\u201d As an example, Kevin pointed to Honeyfund, which is approaching ~$500 million. He describes CEO and co-founder Sara Margulis\u2019 approach with her team as: you have goals to achieve on a monthly or quarterly basis, period. It\u2019s not about \u201chow\u201d or watching to see it done. It is closely linked, however to #2\u2026<\/li>\n
  2. Achievable Targets:<\/strong> In the companies run by women, the teams achieve revenue targets over 90% of the time, in Kevin\u2019s experience with his portfolio. He claims this is because women tend to set realistic goals and motivate productivity. When individuals and teams achieve goals, there is a feeling of satisfaction, turnover is lower, and productivity is higher.\u00a0 In some circles, it\u2019s called employee engagement. The opposite approach is to set goals that are too high to be achieved … leading more often to higher staff turnover, lower morale, and lower return on capital.<\/li>\n<\/ol>\n

    Along with the management style, Kevin also pointed out that successful business (and project) pitches have three characteristics: (1) Articulation:<\/strong> Ability to articulate an opportunity in 90 seconds or less; (2) Uniqueness:<\/strong> Why you are the right person or the right team to execute; (3) Numbers:<\/strong> Know the numbers on the size of the market\/opportunity, margin, etc. Altogether, these three, with the passion of a leader for her cause, can take a pitch from a spark to a sizzle to an explosion.<\/p>\n

    While Kevin\u2019s observation comes from a review of his portfolio of start-ups that survive the explosion to move into operations, these two \u201cT\u201d characteristics can be universally applied to management in current business as well.<\/p>\n

    Bottom line: Today\u2019s businesses need this type of outcomes-focused performance management with meaningful and achievable targets in this day and age when so many businesses that have been in existence for years are having to undergo transformation to become more customer-focused, interactive, and flexible. <\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    \u201cI\u2019m putting more money behind women-run businesses because of return of capital and performance; this is what matters,\u201d said self-made…<\/p>\n","protected":false},"author":1,"featured_media":3882,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57],"tags":[192],"organization":[],"ppma_author":[893],"class_list":["post-3881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital-transformation","tag-business-process"],"yoast_head":"\nWhat It Takes To Swim With The \u201cSharks\u201d in Business - Horses for Sources | No Boundaries<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.horsesforsources.com\/what-it-takes-to-swim-with-sharks-in-business_030117\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What It Takes To Swim With The \u201cSharks\u201d in Business - 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