Tuesday, June 8, 2010

Topic: Time Management

Reference: Tjan, Anthony. “The Three-Minute Rule.” HBR Today. http://blogs.hbr.org/tjan/2010/01/the-threeminute-rule.html.

As a practitioner of effective management principles, I am always looking for better ways to maximize the value of time. No matter what you do well there is always a better way to do it. Usually, the new techniques are related to some fundamental core principles like focus, putting priorities first, or organizing challenging projects into smaller projects. The principle of focus has limitless applications. The concentration of time, effort, and resources seems to be the best way to manage just about everything. The same is true for servicing unrealized customer needs. In the referenced article the commentator suggests a new way to apply focus with respect to customers. “You can learn a great deal about customers by studying the broader context in which they use your product or service. To do this, ask what your customer is doing three minutes immediately before and three minutes after he uses your product or service.” This level of focus helps highlight the customer’s mindset, collateral application opportunities, and other insights that could produce attractive marketing insights. The commentator points out that a similar analysis produced results showing an opportunity to join disposable cameras with baby diapers and the need for shopping carts in the middle of the store as well as the front. Customer context and visualization can help detect previously unrelated patterns and influences. These potential discoveries can lead to new revenue growth and higher consumer satisfaction. In this competitive market and challenging business climate, applying this level of focus to customers could be critical to future growth.  Think about applying this technique to your management arsenal. It could help you find some hidden gems.

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