How to Improve Your Fuel Friction Differential

This is Day Fourteen in the 30 Days of Reinvention Video Series [#30DaysReinvention].

Increase your growth velocity through the optimal mix of fuel and friction.

FULL TRANSCRIPT

Hey, it’s Rand

Growth is determined by your mix of fuel versus friction.

The higher your fuel friction differential, the higher your growth velocity.

Let me repeat that:

The higher your fuel friction differential, the higher your growth velocity.

Take talent as an example.

It is an essential area that leaders must focus on in order to generate growth.

Attracting and retaining top talent is a tough thing to do, but you can optimise for this by using the fuel friction differential.

On the fuel side of this equation, the better your ability to attract top talent as fuel, the less you will require process and micro management. By the same token, the more mired you are with process the less likely you will able to retain top talent.

Top talent is a magnet for other top talent, fuelling growth.

On the friction side of the equation, if you are too process heavy and your systems and organization is too bureaucratic, you will have too many frictions for top talent to either want to work with you or stay on board your team.

The good news is that you can iteratively improve the fuel friction differential.

Firstly, either with your entire team, or if you run a larger business, then with your executive team:

For step one, in a weekly session, throw up on a board all the factors that are holding you back and the opportunities your team has to push forward.

In step two, quickly diagnose the current balance of fuel friction forces, then rank each item by its impact and ease of execution.

Give priority to the high-impact, low-difficulty items first.

Spend the next week addressing these forces.

As the fuel friction equation improves you will be set to grow faster.

Thirdly, repeat this process, regularly.

I suggest that the frequency of these meetings should depend on how much growth is a part of your mission critical priorities.

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