This week’s focus: The great thing about the economic turbulence is that only those businesses that deserve to succeed will do so. In these tough times you will only grow if you have clear and compelling sources of competitive advantage. By this I don’t simply mean ‘strengths’; I mean those critical assets and capabilities that attract a disproportionate number of customers to you and enable you to turn your top-line revenues into profitable growth.

In what ways, specifically, is your business advantaged, and how do you intend to develop and exploit these advantages further in 2012?

Off the record: Better Days by Bruce Springsteen

Every fool’s got a reason for feelin’ sorry for himself

And turning his heart to stone

Tonight this fool’s halfway to heaven and just a mile out of hell

And it feels like I’m coming home

© Stuart Cross 2012. All rights reserved.

This week’s focus: This morning I met with a senior executive of a national retailer who told me that trading is currently just so tough that the business can’t afford to focus on longer-term growth. Instead, he argued, he and his colleagues just needed to focus on managing sales, costs and operations as best they could and think about growth at a later date.

I can understand his point of view – times are though for many businesses – but my best clients are continuing to find the time, space and resource to develop new growth ideas. What’s more, the evidence from previous recessions shows that it is those businesses that continue to invest for growth that emerge from the downturn the strongest.

As the executive and I continued our conversation we identified one or two new growth opportunities that could help build momentum for the business without ‘betting the farm’ or causing unnecessary distraction. What new growth opportunities have you identified for your business in 2012?

Off the record: Come On, Let’s Go by Paul Weller

We’re planting up the acorns, wondering to where they’ll lead

We’re planning up the acorns, wondering to where they’ll seed

Come on baby, let’s go!

Happy Christmas! This is the last Friday Focus for a couple of weeks. Our next note will be on Friday 6 January, so have a great Christmas and all the very best for 2012.

© Stuart Cross 2011. All rights reserved.

This week’s focus: How would you run your business if you had no management information? What would you do differently to make sure that your customers were receiving a great experience, your operations were effective and your people had the skills, capabilities and desire to do a great job?

In my experience too many managers are fixated on the numbers and distant from the actual business. Management information should be a confirmation of what you already know, not a weekly or monthly surprise.

My guess is that your immediate response to my opening questions was that you would spend far more time on the front line of your business with your customers, your suppliers and partners and your people. Well, why not do it?

Off the record: Living By Numbers by New Musik

So you’re living by numbers

And numbers you answer to

You can count all the numbers

You bet that someone’s counting you

We’re living by numbers

© Stuart Cross 2011. All rights reserved.

This week’s focus: I took out one key management lesson from this week’s ‘autumn statement’ from George Osborne, the UK’s Chancellor of the Exchequer. My big take-out was that the Chancellor has given himself very little room for manoeuvre in managing the UK economy and, as a result, has found that his fortunes are now being dictated by external events beyond his control.

Jeff Bezos, the CEO of Amazon, once said that his company was ‘fixed on the vision, flexible on the journey’. In other words, while the business has clear objectives, it adapts and flexes its plans and initiatives according to dynamic market conditions. Mr Osborne, on the other hand, appears to be ‘fixed on the vision, and fixed on the journey’, and that is not an approach I would recommend to any of my clients.

Perhaps the political realities mean that Mr Osborne has no choice about his plan, but you do. Where and how could you be more flexible in achieving your objectives?

Off the record: Chasing Pavements by Adele

I’ve made up my mind, don’t need to think it over

If I’m wrong I am right, don’t need to look no further

Should I give up or should I just keep chasing pavements

Even if it leads nowhere?

© Stuart Cross 2011. All rights reserved.