02:57 Reflecting on Rita�s business �failures�

She started a political consulting business whilst she was at university � and realised elections don�t happen every year

She quit her second business because it was deviating away from what she really wanted to do

�To develop as a human being you need a mix of support and challenge�

08:48 On electioneering today

In the US, it rewards polarisation

It�s good to learn from other systems like in Dublin, Ireland with approval voting and for more centrist appeals

10:22 The power of quitting

New opportunities arise when you let go of other opportunities

Having a clear vision of your future helps you to quit the right things

18:33 Who are MBAs most suitable for?

It�s not just about the content � it�s about the network you build and the way of learning

20:27 Having an unofficial board of directors

Rita was deciding which direction to take her next book, and she sought feedback from others to help her decide

Marshall Goldsmith has devised a good exercise of receiving feedback, which is �like speed dating� � all you can do is listen and say �thank you�

Take time to build a network of people you value

A mentoring relationship is a two-way relationship

24:17 Building a rich and diverse network

Consider opening up your network to something more global to embrace and learn from different cultures and backgrounds

Execution networks: these are dense, everyday networks of people with smooth flow of conversations

Entrepreneurial networks: these are people you don�t speak with everyday but can help find opportunities outside of your day-to-day

26:11 Inflection points

It is a shift in what is possible and could have a 10x effect on your business or life (e.g. 10x faster, more possible, accessible, etc)

Inflection points often feel like they have come out of nowhere, but they have been developing underway for a long period of time

You can learn over time to be self-aware to spot the inflection points

You can�t always trust your gut or intuition if you have just been exposed to the same experiences over time

30:40 The four basic stages in the development of inflection points

Hype, dismissive, emergent, and maturity

Gartner Hype Cycle methodology is used to understand how technologies are commercialised

34:49 Why is it so hard for executives to anticipate major shifts in the business or market?

It can take a long time for something to reach a tipping point

Most often, leaders are incentivized not to upset the outcome but to see if you can ride out a model for a few more years

41:48 The concept of �snow melting from the edges�

People who are working at the frontline are often the first exposed to see what is changing

The phrases comes from Andy Grove, Intel�s former CEO and author of �Only the Paranoid Survive�: �When spring comes, snow melts first at the periphery, because that is where it is most exposed�

Senior leaders often hear what they don�t want to hear and get �wrapped up in bubble wrap�

44:24 Engaging with people on the frontline

Skip-level meetings are where a manager�s manager meets directly with employees, without that manager in attendance

Choose employees randomly and get them together to discuss their experiences across the business

Non-hierarchical communication

Create a space for psychological safety

47:51 How to watch out for blind spots

Diversity is key � you need to have regular contact with people from different backgrounds

Make space for feedback

Create progressive careers that rewards skills and capabilities

50:40 How to design your �Strategy spine�

Executives should create a simple document called a strategy spine

It is based on an imagined future: fill out the six elements � planned sources of revenue, key operating assumptions, key goals, revenue implications of those goals and assumptions, investments needed, and additional infrastructure needs

53:29 Is it better to promote certain people, or let them stay in their lane if they�re doing a great job?

The choice doesn�t need to be binary � you can do a short-term trial (over a few months) to see how they get on as managers

Test your managerial skills outside of work, e.g. through voluntary work