Challenge

A relevant part of my work as a business developer consisted in analyzing data regarding production  processes, costs, margins, as well as customer satisfaction rates. In doing this, I was accountable to the  managing director of my division. The main problem in this division was that, despite our intensive analyses,  things were kept always the same and they were difficult to change due to past legacies and traditions. The  founders and higher-level managers of the company would still think that the traditional approach they had  been using for years was the best, even if data was proving the opposite. At the same time, I was strongly  convinced that keepings things like that was a big waste of time, resources, and money. The real case we  were working on at that time was the following: the company portfolio consisted of about 20 different  products, 5 of which had been sold since the very early days of the company. Understandably, the founders  were particularly emotionally attached to those 5 as compared to newer and more modern products. All of  our analysis proved that 2 of those 5 were not profitable anymore and we were selling them at almost zero  margin. Moreover, they were old-fashioned products with no prospects of future growth. With the same  resources they required, we would have been able to push an expansion abroad of newer and more  profitable products with tremendous growth-opportunities.

Selection

Obviously, me and my colleagues had reported the situation to founders and senior managers several times.  Nonetheless, given that the company was in a good economic situation overall and given the emotional  attachment to those products by the founders, we had never been able to make them understand the  importance and the potential to dismiss old-fashioned lines of products. In particular, they seemed not to be  responsive to our claims because they lacked the ability to visualize and imagine a different company as the  one they’ve been running for years in the same static and traditional way. Therefore, I decided to change my  approach to presenting the opportunity. Instead of concentrating of financial graphs, statistical tools and  opportunity costs analyses on excel spreadsheets, I decided to tell a story based on a powerpoint  presentation of what the company was like at that time, and what it could become if our suggestions would  have been taken into consideration.

Application

First things first, I tried to put myself in their shoes. Of course, in a sense, it was much easier for me to dismiss  the old products because I didn’t have any past legacy regarding the early days of the company. But the  founders, they had; they remembered the old days with joy and proudness and they were nostalgic about  their young entrepreneurial times. If I wanted to be successful in my presentation, I should take their  perspectives into great consideration. I started my presentation telling the story of the birth of the company  that I was told by older employees, I even put some old black and white photos that were usually hanging on  the walls. I did this because I wanted them to remember the feelings they felt during those days, the  enthusiasm, the excitement and the happiness when the company was growing and success was coming.  After this, I suggested that success came because they had the great ability to focus on what the market  demanded at that time and what was more profitable for the company. I then focused on the present days  and the future prospects of the firm, and I showed them that the company they had previously build wouldn’t  have been the same if it wouldn’t be able to adapt to changing times. As usual, in a few years the ownership  and the management of the company would have gone to their sons. As the management was changing and  adapting to the modern world, so should the company do if it wants to remain competitive. The same feelings  that I made them recall at the beginning of the presentation could have been felt also by the next generation,  if only they were able to abandon the old legacies of past times. At the same time, changing the company’s

offer wouldn’t mean to lose the company’s traditions and culture, instead it would mean being able to  transform and adapt to the changing business landscape. But the core principles and values of the founders  would have survived in the second generation of entrepreneurs. I finished my presentation with a statement  that invited them to adopt change and innovation for their sons, if they wanted them to feel the same  enthusiasm and excitement of their fathers.

Insight

Before starting the presentation, I could easily understand that all the invited managers and my colleagues  thought it would have been the same unsuccessful presentation we had run a number of times. Everyone  had the same feeling that it would have been just another waste of time. However, as soon as I started with  the new approach, I could see the surprise in their eyes. I immediately recognized I caught their attention.  Everyone was now willing to listen to what I was going to say next and everyone, especially older people, was  emotionally involved in the storytelling when I projected the series of old photos on the screen. I felt  everyone was paying attention because I wasn’t there pretending they would follow my advice to dismiss 2  old products and redirect financial investments, but I was there just to tell everyone the great story of our  company and recall in the minds of everyone the great work the founders had done years before. And I  changed their perspectives about the way they thought about more modern products. I found out they were  just afraid to lose traditions and values, which they felt were embedded in the old products. I ensured them  those values and traditions wouldn’t die with new products but just adapt to the new world; in other words  I gave them an alternative way of thinking of the same objective. And I made them think first of the next  generation of owners and the importance to make them feel the same passion of the early days.

I immediately understood what were the limits of our previous approach and that financial prospects of the  firm didn’t mean anything to the founders when confronted to their fear of losing traditions and values. I  understood that what seems more logical to everyone (probably even to them) might be stopped if emotional  factors come into play and that these can even become dominant and prevent people to make rational  decisions. In this situation, I just had to start from a different starting point and approach the same topic  from a different perspective. Most importantly, I understood that if I wanted to be successful first I had to  provide a solution to the emotional issue and only then to the logical one, instead of the other way around.

Approach

If me and my colleagues had found out this solution earlier, we wouldn’t have wasted weeks of time, hard  work, and mental energies. If, instead of complaining about how it was possible that such smart people didn’t  get such an easy suggestion and were not willing to collaborate, we had first concentrated on the reasons  that were preventing them from seeing the situation more clearly, we would have been able to save a lot of  the company’s money and create a more collaborative way of working between us and the founders/high- level managers. Also, I realized that sometimes images can be more powerful than graphs and tables, even  for financial issues.

Next time, when I will have to propose a solution to decision-makers, I won’t be lazy anymore. I won’t just  convince myself that the logical reasoning behind my solution would be enough also to convince other  people. As I said, I think it’s also a matter of laziness. I’ll take the time it needs to do the necessary research  about past stories of my audience, their attitudes towards the issue, their experiences, and the possible  reasons and biases they have not to accept my solution. In this way, I am sure I will have higher chances to  convince my audience and, even if I won’t be able to do so, I will have gained a lot crucial information about  how people think, behave, and decide.

Just as a final note, the founders in the end (not without pain) allowed us to dismiss those 2 products and  redirect resources to what we thought were more profitable products and to open up new businesses. They  said that we all now shared a more similar view of the world and the future, and that they were looking  forward to hearing from us new proposals and suggestions next time.

I enjoyed the process of storytelling a great deal !


Challenge A relevant part of my work as a business developer consisted in analyzing data regarding production processes , costs , margins , as well as customer satisfaction rates . In doing this , I was accountable to the managing director of my division . The main problem in this division was that , despite our intensive analyses , things were kept always the same and they were difficult to change due to past legacies and traditions . The founders and higher - level managers of the company would still think that the traditional approach they had been using for years was the best , even if data was proving the opposite . At the same time , I was strongly convinced that keepings things like that was a big waste of time , resources , and money . The real case we were working on at that time was the following : the company portfolio consisted of about 20 different products , 5 of which had been sold since the very early days of the company . Understandably , the founders were particularly emotionally attached to those 5 as compared to newer and more modern products . All of our analysis proved that 2 of those 5 were not profitable anymore and we were selling them at almost zero margin . Moreover , they were old - fashioned products with no prospects of future growth . With the same resources they required , we would have been able to push an expansion abroad of newer and more profitable products with tremendous growth - opportunities . Selection Obviously , me and my colleagues had reported the situation to founders and senior managers several times . Nonetheless , given that the company was in a good economic situation overall and given the emotional attachment to those products by the founders , we had never been able to make them understand the importance and the potential to dismiss old - fashioned lines of products . In particular , they seemed not to be responsive to our claims because they lacked the ability to visualize and imagine a different company as the one they ’ve been running for years in the same static and traditional way . Therefore , I decided to change my approach to presenting the opportunity . Instead of concentrating of financial graphs , statistical tools and opportunity costs analyses on excel spreadsheets , I decided to tell a story based on a powerpoint presentation of what the company was like at that time , and what it could become if our suggestions would have been taken into consideration . Application First things first , I tried to put myself in their shoes . Of course , in a sense , it was much easier for me to dismiss the old products because I did n’t have any past legacy regarding the early days of the company . But the founders , they had ; they remembered the old days with joy and proudness and they were nostalgic about their young entrepreneurial times . If I wanted to be successful in my presentation , I should take their perspectives into great consideration . I started my presentation telling the story of the birth of the company that I was told by older employees , I even put some old black and white photos that were usually hanging on the walls . I did this because I wanted them to remember the feelings they felt during those days , the enthusiasm , the excitement and the happiness when the company was growing and success was coming . After this , I suggested that success came because they had the great ability to focus on what the market demanded at that time and what was more profitable for the company . I then focused on the present days and the future prospects of the firm , and I showed them that the company they had previously build would n’t have been the same if it would n’t be able to adapt to changing times . As usual , in a few years the ownership and the management of the company would have gone to their sons . As the management was changing and adapting to the modern world , so should the company do if it wants to remain competitive . The same feelings that I made them recall at the beginning of the presentation could have been felt also by the next generation , if only they were able to abandon the old legacies of past times . At the same time , changing the company ’s offer would n’t mean to lose the company ’s traditions and culture , instead it would mean being able to transform and adapt to the changing business landscape . But the core principles and values of the founders would have survived in the second generation of entrepreneurs . I finished my presentation with a statement that invited them to adopt change and innovation for their sons , if they wanted them to feel the same enthusiasm and excitement of their fathers . Insight Before starting the presentation , I could easily understand that all the invited managers and my colleagues thought it would have been the same unsuccessful presentation we had run a number of times . Everyone had the same feeling that it would have been just another waste of time . However , as soon as I started with the new approach , I could see the surprise in their eyes . I immediately recognized I caught their attention . Everyone was now willing to listen to what I was going to say next and everyone , especially older people , was emotionally involved in the storytelling when I projected the series of old photos on the screen . I felt everyone was paying attention because I was n’t there pretending they would follow my advice to dismiss 2 old products and redirect financial investments , but I was there just to tell everyone the great story of our company and recall in the minds of everyone the great work the founders had done years before . And I changed their perspectives about the way they thought about more modern products . I found out they were just afraid to lose traditions and values , which they felt were embedded in the old products . I ensured them those values and traditions would n’t die with new products but just adapt to the new world ; in other words I gave them an alternative way of thinking of the same objective . And I made them think first of the next generation of owners and the importance to make them feel the same passion of the early days . I immediately understood what were the limits of our previous approach and that financial prospects of the firm did n’t mean anything to the founders when confronted to their fear of losing traditions and values . I understood that what seems more logical to everyone ( probably even to them ) might be stopped if emotional factors come into play and that these can even become dominant and prevent people to make rational decisions . In this situation , I just had to start from a different starting point and approach the same topic from a different perspective . Most importantly , I understood that if I wanted to be successful first I had to provide a solution to the emotional issue and only then to the logical one , instead of the other way around . Approach If me and my colleagues had found out this solution earlier , we would n’t have wasted weeks of time , hard work , and mental energies . If , instead of complaining about how it was possible that such smart people did n’t get such an easy suggestion and were not willing to collaborate , we had first concentrated on the reasons that were preventing them from seeing the situation more clearly , we would have been able to save a lot of the company ’s money and create a more collaborative way of working between us and the founders / high- level managers . Also , I realized that sometimes images can be more powerful than graphs and tables , even for financial issues . Next time , when I will have to propose a solution to decision - makers , I wo n’t be lazy anymore . I wo n’t just convince myself that the logical reasoning behind my solution would be enough also to convince other people . As I said , I think it ’s also a matter of laziness . I ’ll take the time it needs to do the necessary research about past stories of my audience , their attitudes towards the issue , their experiences , and the possible reasons and biases they have not to accept my solution . In this way , I am sure I will have higher chances to convince my audience and , even if I wo n’t be able to do so , I will have gained a lot crucial information about how people think , behave , and decide . Just as a final note , the founders in the end ( not without pain ) allowed us to dismiss those 2 products and redirect resources to what we thought were more profitable products and to open up new businesses . They said that we all now shared a more similar view of the world and the future , and that they were looking forward to hearing from us new proposals and suggestions next time . I enjoyed the process of storytelling a great deal !