Week 27, 2023—Issue 263
Monetizing Outcomes, Entrepreneurial Archetypes, and the State of Organization 2023
Successful organizations do three things: they create value for customers, they empower their people, and they produce above-average returns.
Here are three ideas to help you do the same:
#customervalue
Professional Services Firms Should Monetize Outcomes
“Professional firms have always claimed to be based on relationships, and by and large, that is true. However, when you analyze what firms monetize, you clearly see outputs and deliverables, with few firms truly monetizing outcomes. (Dunn and Baker, 2022)” It’s easier and much less risky to monetize outputs as they are more tangible and quantifiable. But let’s be honest: no one buys outputs; they buy the outcomes that these outputs are supposed to deliver. Therefore, firms that are truly committed to value and relationships will have skin in the game — they will monetize outcomes.
#personalfulfillment
There are Four Archetypes of Entrepreneurship
There are two types of people: those who rely on psychometric testing, and those who know better. That said, I do appreciate the premise behind the BOSIdna model — a test that claims to identify a person’s entrepreneurial type. Too often, we assume all entrepreneurs are alike. But that’s clearly not the case. The BOSI model suggests there are four archetypes (along with 16 subtypes) of entrepreneurship, each providing a distinct pathway to success. The assessment categorizes me as type “I/B”, which, I have to admit, feels rather accurate. Give it a try at bosidna.com.
#organizationaleffectiveness
The State of Organizations isn’t Great
McKinsey surveyed 2,500 business leaders for their ‘State of Organizations 2023’ report. Only half felt their organizations were “well prepared to anticipate and react to external shocks,” while two-thirds thought their organizations were “overly complex and inefficient.” Simply put, the overall health of organizations isn’t great. The authors point to “ten significant shifts,” from the advent of AI and hybrid work to the necessity for self-aware, inspiring leaders. The report doesn’t offer any major surprises, but it does give a useful peek into the current mindset of business leaders across the world.
That’s all for this week.
Until next time: Make it Matter.
/Andreas
How can we build better organizations? That’s the question I’ve been trying to answer for the past 10 years. Each week, I share some of what I’ve learned in a weekly newsletter called WorkMatters. Subscription is free. Back-issues are published to Medium after three months. Case in point: this article was originally published on Friday, June 7, 2023.
