Venture capitalist and entrepreneur Mark Suster once shared an awesome pearl of business wisdom (via Kellblog): In a strong wind, even turkeys can fly – in his blog post of the same name.
This insight came from Mark Suster’s colleague Ameet Shah, a co-worker at Andersen Consulting in the late 90’s. Andersen Consulting was the largest independent consulting firm at the time, but amid scores of existing competitors and newly-funded Internet consulting startups…
…the market seemed crowded and our leadership position that had been built over many years seemed to not matter any more…[But] Ameet said to me, “Ah, I’ve seen this many times before. See, Mark, in a booming market you can never tell the winners from the losers. In a booming market buyers aren’t very discerning and companies that have weaknesses can mask them…Andersen Consulting always gains market share in down markets. That’s where the companies who are [only] good at marketing tend to crumble…Don’t worry, we’ll be fine, just wait for the next downturn.” That had never occurred to me. In other words, in a strong market, even turkeys can fly. (emphasis added)
A company that works to “gain market share in down markets” and seizes “the next downturn” as an opportunity is most certainly the opposite of a “flying turkey” business. I’d call it a “crow” business, referencing the amazing adaptability and intelligence of crows, as I have blogged previously.
I also suggest reading Jeffrey Fox’s book, How to be a Fierce Competitor: What Winning Companies and Great Managers Do in Tough Times – a great user’s guide on how to become a “crow” business.
Read on for a review of this great book along with more insights from Mark Suster’s great blog post.
UMBC President Dr. Freeman Hrabowski (photo: Bb World)
In 2010, I was remote director of marketing for iStrategy (now Blackboard Analytics) based in Maryland. The company hosted its first-ever iStrategy User Conference that year, hosted at Loyola University. It was a pleasure to meet so many smart, enthusiastic data warehousing customers I had been collaborating with on case studies and webinars, highlighted by a fantastic keynote presentation by UMBC President Dr. Freeman Hrabowski.
Flying into BWI that September and back home in October on AirTran (a nice airline that I miss, btw). I had happened to read the September and October issues of Go, AirTran’s surprisingly good in-flight magazine. I found it interesting that the business author profiled in each issue so thoroughly and diametrically opposed the other.
George Cloutier, the founder of American Management Services, with a long record of successful business turnarounds to his credit, is the author Profits Aren’t Everything, They’re the Only Thing, profiled in the Go September issue. Meanwhile, the October issue of Go profiles the book ESPN the Company: The Story and Lessons Behind the Most Fanatical Brand in Sports by longtime consultant to ESPN Anthony F. Smith (scroll about halfway down each of these links to read each book and author profile).
How is this for disagreement, not to mention two very different personal brands, as summarized by Go magazine:
George Cloutier: I am Your Work God! You want your employees to do what you say, not what they think.
Anthony F. Smith: Avoid the myth of single-person leadership. “Leadership is really a shared phenomenon…(Each ESPN executive) needed to surround themselves with other effective people who could fill in areas where they were not as skilled.”