MVS – Minimum Viable Strategy
Many of you have heard the term MVP, especially in context with iterative, agile developments. MVP, Minimum Viable Product, is a way to accelerate time to get your new product to market by creating a new product/service that has just the bare minimum ingredients. Not so much to suggest that is all you need, but to maintain the focus on core functionality.
Could this same principle be applied to strategy? I think it can. Many times a strategy has become too big and too complicated, as everyone wants to contribute and all voices need to he heard. And not just that – different people have different maturity levels when it comes to understanding what strategy really is, often resulting a ‘smörgasbord’ strategy full of details and low probability of executing it properly.
What if instead we would take the learning from product development and use harsh prioritisation criteria in accepting items to be strategic? Not necessarily forgetting other things but giving them lower priority and ensuring success to the ‘if I can only have 4 things’ items that your company’s success depends on? When, and only when you have secured adequate focus and resources on the must have items you can selectively add other items while still making sure you are not overloading the plate.
After all, wouldn’t it be nice to have a strategy that feels like it is doable, adds energy to the team, and in the end of the day gets done, rather than becoming a constant source of concern?
We here at LATO have a way to prioritise your MVS by adding focus and visibility to your planning and execution. Do give us a call, we are happy to come and visit and show you how!
We are proud to announce that we have released the first new LATO version for the year 2018.
Major improvements among other improvements are:
LATO Autumn 2017 major Web app release will introduce new Animated Dashboards among other improvements.
Our goal is to improve Leadership Experience of users by adding new dynamic and lively dashboards. We add fun and intuition into LATO by enabling use of animated dashboards when following, discussing and reviewing strategy and action plan proceedings.
See first preview video below of what is coming out soon.
Animated Dashboard views will be delivered embedded with traditional reports and people based views. We are more than happy to give you personal video demo, so please contact firstname.lastname@example.org!
LATO is expanding its operations and is happy to announce that Juha Karjalainen has started as the company’s Business Manager in the Benelux area. Juha brings with him both extensive domain expertise and awareness of local marketplace.
‘We have an ambitious growth strategy, and in our roadmap expansion to Benelux is the next big step. Based on feedback, LATO as a tool is culturally fit for the market and there is a great interest for strategy related digital solutions. We are happy to have Juha onboard and locally orchestrating our growth endeavors’, says Teemu Möykkylä, Director of Sales.
We are happy to announce that LATO Strategy Tool is now present at Oracle Cloud Marketplace. It is a digital marketplace for Oracle Partner Network (OPN) products and services.
“After completing the review and approval process with Oracle Product Management team we have a better reach to our market.” states LATO product owner Onni Matti Manninen “It is a pleasure to bring our fresh and innovative SaaS offering easier available for huge Oracle customer audience.”
Experienced serial software entrepreneur and investor Kimmo Palmu has been appointed as the chairman of the board of LATO Leadership Automation Tools Oy Ltd. He has been specializing in scaling innovative software companies to profitable growth. He has sold his own previous companies to Tieto Oyj and Visma Group. The latest company had over thousand corporate customers and half a million users in 22 countries.
LATO is a revolutionary mobile SaaS product that makes business plans happen. LATO increases the business success of its customers by providing easy-to-use mobile and SaaS apps. LATO gives wings and speed to faster business growth and helps people to meet their goals. In the company LATO safeguards fast and professional strategy and business plan execution. ‘LATO has first international customers and I see very strong interest for digital leadership tools with world class UX’ says Kimmo Palmu.
Lato has over 50 customers with users in over 50 countries, from national to global, large and small companies and public organizations. Lato has currently operations in the Nordics and reaches its customers via partner network in Europe and in 2018 in the USA.
Majority of people take insurance policy for the things they hold important, or expensive, or both. House and car, for instance. Almost as many sensibly insure people, either themselves or their loved ones. Makes sense, right?
It strikes as obvious that when it comes to business, no insurance company would agree to insure your business performance, covering for those times when you did not reach your goals or meet your numbers. Even if you could convince someone to offer your insurance for the rainy day (or quarter), it would most likely be prohibitively expensive.
The next best thing to do is to increase your chances in executing as planned. What if you would be able see exactly how the goals are progressing at any given time? And if you could find a way to fuse workers daily jobs with those that drive the change defined in the strategy? What if employees would find it liberating to increase autonomy by defining the tasks themselves, and being able to report about the progress?
Those are all things that LATO tool can do for your business plans and strategy. Not an insurance policy as such, but a proven way of improving the odds, to your favor.
Tools such as ERP designed for old world will not be fit for purpose going into the future. The purpose of the ERP was to automate the cheapest tasks and jobs in the company – the next 10 years will see the digitalization of the most expensive but unnecessary work.
Human resource will partly be replaced with Human Capital, with the task of self leadership as well as leading people and tasks. Manager no longer controls every aspect of work, these will increasingly be delegated.
Side by side with User Experience, UX, will be Leadership Experience, LX. How control brings freedom, reporting is done without reports, and besides numbers you are now in full control of progress of tasks and employees commitment to those.
With the help of LATO each and every employee will lead his/her own work and report real time into the cloud. The task of the leader is to know and make decisions based on the real time information. What you don’t know you cannot lead. When you know, the forecast will become a commitment to succeed and help will be given to those who need it.
LATO LX will make leadership professional, fast and fun for the winning team. Lead yourself, lead things and lead teams with goals and KPI’s, whenever and wherever.
Increase your velocity
Most of the companies we come across have a good enough or great strategy. It summarizes the journey getting from A to B, and the expected outcome. In many cases all of the management team is in violent agreement that this is exactly what we need to do. But, more often than not is seems like actual execution of the strategy is more like death by thousand cuts than smooth sailing. This is because the plan is not cascaded and delegated to relevant shareholders, and sometimes even not communicated as it should be. If you do this, go from having a plan to making it executable, you will find out that the trip from A to B becomes more predictable and you’ll get to B faster than you had ever hoped for.
Get people onboard and working together
The only way you can make progress with your strategy is having people motivated to move the needle. Everyone is busy, with too much to do, so you must find a way to merge the daily grind with the strategy. If the employee feels like strategic items are ‘yet another thing I ought to be doing’ it is fairly certain that they end up getting done late and not in desired quality. If however the daily work gets merged with strategic items, contributing to individual, team and company goals, the motivation to do them will shoot up and suddenly people are geared up and driving the strategy forward. When this is accompanied with healthy dialogue about the goals and actions in the organization, the train of progress becomes an unstoppable force.
Remove grey areas and wishful thinking
Part of the problem of not moving the needle fast enough, far enough, is the ambiguity in goal setting. And not necessarily in setting the goal itself, but the Key Performance Indicators (KPIs) that make the goals measurable. If you can’t measure you can’t improve may be a worn expression, but in reaching the goals it is the crucial ingredient. Once during an onboarding, a CEO told me that ‘when we do it like this, the goals become ‘frighteningly concrete’. Getting clarity and precision with KPIs must surely be a good thing, helping to drive the whole agenda as needed.
Get serious, get digital
Too much talk these days revolves around digitalization. That said, when put in the right context, combined with the results from various studies that Millennials form the majority of workforce by 2020 and have little desire to stick around if they are not treated right, will force us to seriously consider any and all means to make work more motivating and transparent. In the case of strategy execution, the answer is obvious – stop doing it top-down and using outdated means and get digital, fast. LATO has a tried and tested answer how a digital tool can become a command center of your execution, as evidenced by nearly 100 customers, so do give us a call and let’s talk more!
Is strategy your mother tongue? Are you a passionate B2B sales professional or aiming to be one? Do you turn prospects into satisfied customers through demonstrating business benefits? Feeling confident in front of Management Team members?
If you said ‘yes’ multiple times you might be the talent we are looking for.
How would you contribute to our strategy?
We want to grow. For us, growth means: 1) Acquiring new customers in Finland 2) Keeping our existing customers satisfied and encouraging them to expand usage 3) Expanding our business to selected new markets 4) Developing our inbound marketing.
You will play a critical role in completing the above-listed goal number one. In addition, you are expected to contribute to goals 2-4.
How would your performance be measured?
Number of new customers is your most important lagging KPI (you know or can find out the difference between lagging and leading KPI, right?). Other lagging KPIs that we might want to follow include e.g. ‘Customer lifetime value’, ‘Number of inbound leads’ and ‘Churn’.
What would you have to do to reach your targets?
Skill set that you need to possess:
What can we offer?
We offer you a genuinely interesting and challenging position with plenty of growth opportunities. You will be surrounded by a friendly, supportive and easy-to-work-with team, and you will join them as an equal member in the journey towards internationalization. Along the journey, you will have a chance to refine and develop further your sales, marketing, business development and strategy skills. Furthermore, you will get to meet lots of interesting people and grow your professional network. Compensation will be fair, and adjusted in line with your growing skills.
If this sounds like you, please let us know how you can help us by sending your application (with salary expectation) and CV to email@example.com by the 6th of July.
Interviews of potential candidates will begin right away.
For more information, contact: