Smart Growth - the Hustler

 Impactful innovation requires three quite different personalities – the Hipster, Hustler, and Hacker. The Hustler is the often quarterback.

Smart Growth (applied innovation) requires three different personalities, working together & fully caffeinated. In earlier blogs, I described the qualities of the Hipster and Hacker. Now, let’s talk about the Hustler, who is often the quarterback in the 3H model.

Hustlers know how to make money. Business acumen, like Design or Technical acumen, is a type of super-power. Effective hackers share the following qualities:

●      Financial Literacy: They understand financial statements, key metrics (esp. ROI, EBITDA, gross margins), and how business decisions impact profitability & cash flow. They know how to ‘manage a P&L’ and understand the power of OpEx/Lean.

●      Adaptability: They are flexible & able to pivot in response to changing circumstances. For example, a good Hustler will accept that traditional metrics like ROI & EBITDA do not apply in initial stages of an innovation launch. Why? Because they are all zero! And so, the Hustler will accept Innovation Accounting measures to assess traction. Moreover, a good Hustler understands & appreciates the contributions of the Hipster & Hacker.

●      Market Awareness: Hustlers understand their industry, competitors, and customers. They identify opportunities, anticipate challenges, and position their teams & organization for competitive advantage.

●      Strategic Thinking: Capable Hustlers can see the entire chessboard. They understand ambidexterity - the ability to both protect the core business AND ignite new Growth. At the macro level, they develop & execute innovation strategies that align with the company’s aspiration & winning logic. At the micro level, they adapt based on the results of Lean experiments. They understand the distinct phases in the innovation ‘hockey stick,’ and the critical tests of Smart Growth:

○      Does it wow?

○      Can we make money?

○      Does it work?

●      Resilience: Hustlers bounce back from setbacks, view ‘failed’ experiments as learning, and maintain focus despite obstacles.

●      Communication & Emotional Intelligence: Effective hustlers articulate their vision, expectations, and feedback clearly, fostering trust and alignment within their teams. Good Hustlers understand & manage their own emotions and build strong relationships & healthy work environments.

●      Analytical and Critical Thinking Skills: Capable Hustlers make decisions based on data & adapt both the macro & micro approach accordingly.

Such traits help Hustlers to make good decisions, get results, and guide their teams through the uncertainty, complexity & fog of innovation.

Famous Hustlers? Jeff Bezos, Jack Ma, Warren Buffet, Oprah Winfrey, Andrew Carnegie, Debbi Fields, J.W. Marriott, Jamie Dimon. Feel free to add more names.

Hustlers, Hackers & Hipsters working in tandem are an unstoppable creative force. Our challenge as business leaders & innovators is to build healthy 3H teams & address the blockers that hinder them. More on blockers in articles to come.

Best wishes,

Pascal Dennis         E: pascal.dennis@leansystems.org

#SmartGrowth #InnovationTeams #BusinessHustler #StartupSuccess #LeadershipMatters #3HModel #NewProductLaunch

In case you missed our last few blogs... please feel free to have another look….

Smart Growth (continued) - the Hacker
Innovation Fundamentals - Radical Collaboration & the 3H Model
My Hockey Stick Curve, part 1
OpEx/Lean, Innovation and Wakefulness