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Thursday, April 22 2010 Creo Quality presents The Catalyst In this Issue
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Life Sciences In & Around Indiana
CQ's Has Roots in Bloomington, Indiana So maybe you read the articles in The Herald Times about Bloomington, IN tribulations with the life sciences industry. While our finger isn't quite on Bloomington's pulse, Creo Quality has been paying attention. Both Scott and I have roots and connections in the Bloomington area. I spent seven years of my career working for one of the large medical device companies in Bloomington. Scott now calls the area home. In our opinion, industry needs to cooperate with research institutions (namely Indiana University), researchers need to cooperate with those in the civic space (local government), and the civic space needs to cooperate with industry. To sum it up: “We have been talking ‘high-tech’ in this community for 30 years,” Bill Cook is quoted as saying. “Not much has come of it. There is a lot of talk. I am not sure there are a whole lot of ideas.” (Quote from IBJ article "Trouble in life-sciences paradise") You can read other posts on the topic like Life Science Troubles and A Few Simple Truths on our blog. Brilliant Ideas With No Execution Are Worth $20 
“It’s so funny when I hear people being protective of ideas. (People who want me to sign an NDA to tell me the simplest idea.)…The most brilliant idea, with no execution, is worth $20. The most brilliant idea takes great execution to be worth $20,000,000. That’s why I don’t want to hear people’s ideas. I’m not interested until I see their execution.” -Derek Sivers We’ve probably all done it…thought of a business idea and never acted on it and then saw someone else become successful with it. Wonder what they did differently? All the greatest ideas in the world need to be taken down to the executable level. To take action on your business ideas and strategies, there obviously need to be tasks associated with them. The compilation of those tasks into repeatable and predictable tasks and results are business systems. The system you use for these types of tasks is your business’ unique DNA. Build your unique systems in the beginning and change and refine as you go. Then continue to execute, measure, and refine. This is what will create value for your organization now and in the future. Do you know how long McDonald's first franchise ops manual was? Click here to find out. Guest post by Nicole Bickett of VisionBridge, a firm specializing in building, documenting, and improving business systems for companies. Find out more about her at www.visionbridgeinc.com. A Case Study: Footsteps Montessori 
About 18 months ago, we were contacted by the Footsteps Montessori school in Martinsville, IN. They were growing yet hadn’t defined any sort of strategy. The board members were very involved but agreeing on critical issues was difficult. They had some concerns, however, with the fact that we typically helped medical device companies and not educational organizations. I don’t want to trivialize this, but to some extent strategy is strategy–whether you are developing a new medical device or trying to grow a Montessori school. The plan was finalized about a year ago and identified several 6 - 12 months goals. Here are some of Rebecca Nunley's (director of Footsteps) comments: “It’s working for us. The strategic plan is being implemented, albeit much more slowly than we had anticipated. The larger result that I see is a real unity in our Board of Directors, and a focused direction...” To read the rest of Rebecca's comments click here. If you are looking for a catalyst to help you with strategy efforts, contact Creo Quality. We can help regardless of your industry. |
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