The purpose is “the why.” Some call it strategy, but the purpose is way more fitting because it is interactive; it must constantly be reevaluated. Ninety days is an excellent time to start.
PURPOSE CAN’T BE TOP-DOWN
People on the board don’t see the whole picture; the people on the ground do.
We ask:
- What is the environment saying to us?
- What are our core competencies (something we are extremely good at compared to everyone else)?
- How do we use this to create value?
We don’t recommend having a five-year plan—it should be a maximum of one year. The world changes quicker than five years; take the transport industry as an example.
In this week’s episode, we start by discussing the Perth Wildcats’ turnaround, recounting its thinking and actions, as the results are quite obvious now.
Situation: In 2009, people in Perth were not attending basketball games. The average attendance was 2000 to 3000, with about 1000 to 1500 members. The club was financially very unsafe. Even though it is a high-participation sport, lots of people play basketball.
Idea: Sent names, addresses, and letters to get them to come to games and fill venues, but none worked.
Do or die moment: We will discuss this more in the next few weeks.
Your Hosts
Saarrah
Mathinthiran
Nick
Marvin
Ella
Barwood
