Pioneering Innovation - Mike Shannon - Shift & Thrive - Episode # 008

07/31/24 • 53 min

Shift & Thrive: CEO Insights on Driving Change

In this episode, host Natalie interviews Mike Shannon, an accomplished entrepreneur with a track record of driving growth and innovation. Mike shares his experiences leading PackBack, a successful education technology company, and his current venture Impruve, which aims to revolutionize coaching and feedback with AI. He discusses the misconception of dramatic organizational change, stressing the importance of continuous, small iterations. Mike also reflects on navigating major pivots in business models, effective change management, and the critical role of rapid iteration cycles. He advises leaders to start early and leverage fast learning cycles to discover and adapt quickly.

Takeaways:

~Faster Learning Cycles: Prioritize rapidly iterating and refining your product or service. Quick cycles of testing and feedback are critical to understand what works and what doesn’t.

~Embrace Experimentation: Don't be afraid to experiment with new ideas, tools, and processes. Even if initial tests fail, valuable insights can guide you towards more effective solutions.

~Leverage AI for Management: Integrating AI tools can help streamline managerial tasks and provide valuable insights. Custom AI solutions can assist with feedback, coaching, and overall team management.

~Flexibility in Vision and Tactics: Maintain a clear purpose but be flexible with the ways to achieve it. Tactics can change over time as long as they align with the overarching mission.

~Effective Change Management: When pivoting business models or undergoing significant changes, clear communication with all stakeholders (investors, team members, clients) is vital. Aligning everyone with the new vision ensures smoother transitions.

~Cost Management in Cyclical Businesses: In industries with seasonal or cyclical patterns, manage your costs wisely and plan for longer sales cycles. Operating leanly can help weather the slow periods.

~Customer Feedback is Key: Always listen to your customer feedback closely and be ready to adapt. Understanding customer pain points and needs can drive innovation and improve product-market fit.

Quote of the Show:

“No one is checking my GPA in a pitch meeting, they’re checking my traction, which can be driven by me picking up a phone... and I can pick up a phone.” - Mike Shannon

Links:

LinkedIn: https://www.linkedin.com/in/mikeshannon101/
Website: http://www.impruve.com/

Ways to Tune In:

This show is sponsored by Magnetude Consulting, bringing you the thinking-Power of a Growth Consultancy and the Getting-It-Done Power of a full-service B2B Marketing Agency.

Learn more at: https://www.magnetudeconsulting.com

Takeaways:

~Faster Learning Cycles: Prioritize rapidly iterating and refining your product or service. Quick cycles of testing and feedback are critical to understand what works and what doesn’t.

~Embrace Experimentation: Don't be afraid to experiment with new ideas, tools, and processes. Even if initial tests fail, valuable insights can guide you towards more effective solutions.

~Flexibility in Vision and Tactics: Maintain a clear purpose but be flexible with the ways to achieve it. Tactics can change over time as long as they align with the overarching mission.

~Customer Feedback is Key: Always listen to your customer feedback closely and be ready to adapt. Understanding customer pain points and needs can drive innovation and improve product-market fit.

Quote of the Show:

“No one is checking my GPA in a pitch meeting, they’re checking my traction, which can be driven by me picking up a phone... and I can pick up a phone.” - Mike Shannon

Links:

LinkedIn: https://www.linkedin.com/in/mikeshannon101/
Website: http://www.impruve.com/

Ways to Tune In:

This show is sponsored by Magnetude Consulting, bringing you the thinking-Power of a Growth Consultancy and the Getting-It-Done Power of a full-service B2B Marketing Agency.

Learn more at: https://www.magnetudeconsulting.com

Previous Episode

Keys to Effective Management - Phil Duffy - Shift & Thrive - Episode # 007

In this episode, Phil Duffy, the COO and Chief Product Officer at Graze Robotics, shares his extensive experience in product strategy and change management. With over 25 years in product development, including 15 years in China overseeing hardware manufacturing, Phil has led initiatives that scaled startups and successfully integrated robotics into various industries such as retail, healthcare, and logistics. He emphasizes the importance of understanding human elements in technology adoption and change management, using process mapping and design thinking strategies. Phil discusses the essential balance between technology and human processes, along with the evolving landscape of robotics and AI.

Takeaways:

~Understand the Human Element in Technology Implementation: One of the biggest misconceptions is that technology alone can drive change. Leaders should focus on integrating technology with human processes and ensuring that everyone involved understands the transformation.

~Conduct Thorough Process Mapping: Before implementing new technology or making significant changes, conduct detailed process maps. Understand current processes and identify opportunities for improvement. This helps in creating a seamless transition and trains employees on the new ways of working.

~Market Segmentation is Crucial: When introducing new products or technologies, deeply understand your market segments. Not all customers have the same needs, and a tailored approach can help in better adoption and satisfaction.

~Small Experiments Lead to Big Outcomes: Implementing proofs of concept can provide invaluable insights. It allows for real-time feedback, which can sometimes pivot the direction of new product development. This iterative process ensures the final product is not just theoretically sound but also practically effective.

~Innovate with Partnerships: When scaling new technologies, partnering with second-tier or niche players can be more beneficial than immediately going after industry giants. This can lead to more favorable terms and the ability to fine-tune the product before scaling up.

~Prioritize Data Collection: Robots and technology solutions that collect data provide immense value. This information can lead to better decision-making and efficiency
improvements, turning a simple cost-saving measure into a revenue-generating opportunity.

~Effective Leadership Over Management: Leadership is more than just management. Inspire, solve problems quickly, and know when to step back and let the team operate. Building the right team with the right attitude is often more important than just having the right skills.

Quote of the Show:
“ My approach to management is so much simpler, because I’m no longer trying to manage, I’m trying to lead.” - Phil Duffy

Links:
LinkedIn: https://www.linkedin.com/in/philipfduffy/
Website: http://grazemowing.com/

Ways to Tune In:
Spotify: https://open.spotify.com/show/2D1YbT2QhKxIwbREpU7EMb
Apple Podcasts: https://podcasts.apple.com/us/podcast/shift-thrive-ceo-insights-on-driving-change/id1740828813
Amazon Music: https://music.amazon.com/podcasts/fa60b654-1955-4055-93df-fdd40c2a5c8f/shift-thrive-ceo-insights-on-driving-change
iHeart Radio: https://www.iheart.com/podcast/269-shift-thrive-ceo-insights-166792501
Pandora: https://www.pandora.com/podcast/shift-and-thrive-ceo-insights-on-driving-change/PC:1001086797
YouTube: https://www.youtube.com/channel/UClf9QxGUxZw_Sv8_4bZP34Q

This show is sponsored by Magnetude Consulting, bringing you the thinking-Power of a Growth Consultancy and the Getting-It-Done Power of a full-service B2B Marketing Agency.
Learn more at: https://www.magnetudeconsulting.com

Next Episode

The Art of Inclusive Leadership and Transformation - Mark Hewitt - Shift & Thrive - Episode # 009

In this episode of Shift Thrive, Natalie sits down with Mark Hewitt, president and CEO of EQ Engineered. Mark shares insights from his extensive background, which includes military roots, studying at West Point, leading entrepreneurial ventures, and a leadership role at Forrester Research. The discussion delves into key strategies for successful digital transformation, emphasizing inclusive leadership, the importance of transparency and flexibility, and the role of data in modern organizations. Mark also highlights the importance of continuous learning, adapting to technological changes, and maintaining a strong personal brand online.

Takeaways:

Embrace Inclusive Leadership: Foster a culture where every team member feels valued and heard. Engage at all levels and encourage feedback to drive successful change within the organization.

Prioritize People Care: Focus on the wellness and well-being of your team. Offer flexibility, understand cross-generational needs, and create an environment where people want to work.

Encourage Continuous Learning: Provide opportunities for your team to learn in ways that suit them best, whether through online courses, workshops, or conferences. Encourage them to share their knowledge within the team.

Be Transparent and Flexible: When implementing change, communicate clearly about the why, how, and the benefits. Remain open to feedback and be willing to adjust strategies as necessary.

Leverage Data and Technology: Understand the role of data in modern business. Employ methodologies like DARE (Discovery, Assessment, Road mapping, Execution) to integrate data effectively.

Develop Digital Authenticity: Maintain a current and authentic online presence. This not only enhances personal branding but also builds trust with clients and stakeholders.

Integrate Practitioner Leadership: Ensure leaders in your organization are also practitioners. This keeps them informed and relevant in their discipline, ultimately leading to more effective leadership.

Quote of the Show:

“Things change and plans go out the window. Being responsive to feedback and adjusting your strategy as needed is really the recipe for success in driving change.”

Links:

LinkedIn: https://www.linkedin.com/in/marekhewitt/
Website: https://www.eqengineered.com/

Ways to Tune In:

This show is sponsored by Magnetude Consulting, bringing you the thinking-Power of a Growth Consultancy and the Getting-It-Done Power of a full-service B2B Marketing Agency.

Learn more at: https://www.magnetudeconsulting.com