Is there a secret "wealth creating miracle formula" for CMOs?
6 Min Read
In many conversations and keynotes over the last years, one of the most asked questions is to share "the secrets to be a successful CMO".
There is much I learned. Lessons from success and mistakes. But if i learned anything, it is that Miracles can not be planned. You cannot control nor predict a bright future. But what you can do, is to distill some useful lessons from the past, and mix it with core competencies and capability to better manage the inevitable unpredictabiity (and fun) of the future.
So over the years during and after I was CMO, I tried to identify and "code" the key drivers that increase the probability to create the miracle of sustainable growth. The outcome may not be the holy grail quite yet, but it is Vicomte's very simple, idiosyncratic, and very personal interpretation of "The wealth creating miracle formula". You will see the formula build on your screen as follows:
Essentially, 3 key drivers form the core of this "miracle formula" :
1) (OM): fostering a team with an open and curious mind, chasing true insights,
2) (CF): a bias for clear focus, making hard strategic choices on what (not) to do
3) (CR): continuous repetition, focusing on 99% perspiration after 1% inspiration
Then there is the 4th component (C+V). The one super-driver that is the "exponent": your company culture and company values will exponentially increase the Miracle effect.
This exponent can range from 1 to n. The stronger, the higher exponential growth, even if it may folllow an "S"curve path as maintaining a strong culture is the single most difficult thing to do. It is wat separates the truly high performance companies from the rest. From what i have experienced, really living and breathing culture and values are the only thing that makes one company's growth trajectory truly different from another one.
You notice the 4 drivers multiply. Any "zero" in the formula, and it all turns to zero. Zero sustainable growth. One cannot add the drivers. With additions, you could get some growth. With multiplication, you cannot.
So net: no, there is no real secret here. The above is not really a "miracle formula". Thank you to allow me some creative space and share a bit of Coca-Cola magic. Nothing can guarantee success. The formula is more of a practical framework, based on historical evidence of what works better, and what works less. My deep belief is that if one combines Art, Science and Discipline in the thinking, one can get closer to miracles in execution. Why not leverage some useful lessons, all while being structurally open and prepared for the ambiguity of what any future will bring?
So how about your company?
Try to find evidence and proofpoints of these 4 drivers being tangibly present in your own company. Anytime a driver is missing, i bet you found a true "gap" to close. Now you can start to Create your own Renaissance....
Want to live your own Renaissance?