A free monthly newsletter on leadership, strategy and innovation.

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In this Issue

	Strategic Innovation Newsletter
	Welcome
	Article of the month: “It was the best of times, it was the worst of times”
	Techniques of the month: 7 Tips For Uncertain Times:
	Announcements: New Websites

Welcome

Welcome to the October edition of Strategic Innovation Newsletter. The last quarter of 2008 is here and I for one am looking forward to the summer. This week I am in Sydney for a Strategy Consulting workshop with mentor consultant Alan Weiss. I am looking forward to sharing and implementing the concepts and tools leant here with my clients.

Last week I had an operation on my left wrist to correct a bone fracture from a cycling accident six months ago. It isn’t slowing me down at all, and I hope to be back on the bike by December in order to be fit for the Tour Down Under and follow Lance Armstrong around for the week (should he be confirmed – fingers crossed).

Article of the month: “It was the best of times, it was the worst of times”

With the financial fall out in the US being felt in markets worldwide, Dickens’ famous quote rings true now more than ever. The question I get from my clients is “are these good times or bad?” They’re neither. They are what you make of them.

Opportunities abound, 12 months ago we were in the height of greed. The share market had three years of successive highs and people thought this time the bubble couldn’t be burst. Now you can buy stable companies, with stable earnings, cheaply. Now is the time to really set yourself up.

Adversity breeds opportunity, a motto adopted with success by Warren Buffet, the richest man in the world. He has made his fortune on exactly this philosophy, and he just in invested $5billion last month.

With seven billion people on the planet and untold amounts of resources, needs and ideas, there are an infinite number of opportunities to take advantage of. Now is the time to understand your strategy more deeply than ever, focus on flawless execution, focus on your strategy, focus on innovating to meet your customers’ needs, be more organised and prompt in your dealings, and take the market with you.

I was out with a client the other day visiting one of their customers associated with mining. They were relaying the story of how they had found a new use for a mined material that was previously a waste product. It is now being used in the production of LCD televisions, and subsequently is in huge demand. Only six months ago it cost money and resources to dispose of it, and now it is turning in a profit.

In a time when others are pulling back to ‘wait for better times’ or more favourable conditions, they risk missing the boat. Now is the time to go boldly into the market place with a strategy. Focus your energies now more than ever on being organised, and communicating your value.

All the while, your competition is ‘waiting for things to get better.’
 

Techniques of the month: 7 Tips For Uncertain Times:

7 Tips For Uncertain Times:

1. Focus on opportunities. Your results follow your attention and by focusing on the doom and gloom you will at best act defensively. Instead get clear with your strategy and place your attention to what you can control.
2. Be prompt and responsive. Turn around time is a sign of quality; customers will see that you are organised and efficient.
3. Big Picture thinking. Think long term, by acting boldly now you will set yourself up as a leader for when conditions inevitably rebound.
4. Focus on Professional Development. Now more than ever the quality of your skills and those of your people will be critical. Getting the job done faster, with higher quality is what people will be looking for.
5. Innovate. Be a leader, look for the unexpected successes that pop up and exploit them. Set your best and brightest to the task. Actively review them in management meetings.
6. Get clear on your strategy. Understand what business you are in and where you want to go. And then,
7. Implement. Failure to implement is the single biggest reason for failure. Not the markets, not the fickle customers - take responsibility and act now.

These are times of opportunity. Be bold!
 

Announcements: New Websites

I have updated and added new wesbsites to better represent the value I am offering.

The DanielLock.com.au address is now a bio site.

A new site for my individual and organisational consulting has been created at www.DanielLockConsulting.com where you can find articles, past newsletters and tips on leadership, strategy and innovation to help individuals and organisations more rapidly achieve their goals.

Daniel Lock Develoments also has a new site at www.DanielLockDevelopments.com, here you can find tips and articles on how to make money from Property Development, get involved with a syndicate and find out about my latest projects.

My blog still exists and will be updated with a new look and feel soon.