OK let me cover off the premise of this weeks task first before I get into what was a very funny but also frustrating task to watch take place.
The two teams had to source 10 products wanted by Madam Tussauds at the lowest possible price and they had to make it look expensive but not cost the earth. Key point here was that they were being judged on their ability to plan and to negotiate, something that the loosing team seemed to forget as the clock ticked down and the day progressed.
There is a great book call "Hope is not a Strategy!" yet apparently going by last night’s show it can be a very effective one that can win you tasks.
Lets over look the fact that for this task the teams were banned from using the Internet, nothing like making these tasks life like for a sense of drama, but I guess a show watching teenagers sit in front of laptops searching on Google would have not been the most interesting to watch.
Anyway.....one team decided to take action and drive off into London heading for areas they hoped would have some shops or markets that may have what they needed on their list. This reminded me of so many Business Owners who launch a Business or head into a new market with the belief that if they just take action and show up they'll find the right resources or people to sell to - CRAZY.
In fact I had spent all of Monday with an amazing company working on a Powerful Strategic Plan based on Facts, Market Information and Resource Planning, so you could say I was rooting for the second team that spent most of the morning making phone calls and doing their research before heading out to make their purchases.
It did make me laugh that the resource material they were given was the Yellow Pages - talk about making you work with one arm tied behind your back. Had the producers seen how much small that book has become in recent years? Made me appreciate just how fortunate we are today in business with tools like iPhones and iPads and Web Access anywhere, anytime. Leverage should speed up your businesses ability to get this done and you could see just how hard this was without these tools we all use every day.
So, there Sue and I were rooting for the team with the Plan - now all they had to do was head to the locations, negotiate and win, should have been easy! After all the other team were hopelessly wandering into shops and market stalls asking for help and ideas from anybody who would listen, then the planning team made two HUGE mistakes that prove that even the best Plan poorly implemented can kill your results.
1) They failed to understand Geography when planning out there limited time, heading to Croydon to buy a pocked watch! That's over 2 hours each way in traffic...had nobody considered jewellers in Hatton Garden?
2) They seemed to get sucked into buying the best products, and forgetting that this was a task based on their ability to look expensive but negotiate hard and save cash. In the worst case the Project Manager even paid FULL PRICE for a pair of red large shoes, which upset Lord Sugar and cost the team dearly in terms of an additional fine.
Meanwhile the other teams strategy of "Ask and Hope" started to pay off and they fell over deal after deal and ended up winning the task by some considerable margin of over £500.
So what can we learn from this episode?
- If you want to save money and do deals head for locations where dealing is accepted or expected...
- Do plan but make sure that you respect your most valuable asset, TIME, and include things like journey planning. I have seen so many Business Owners and Sales people waste hours and hours in traffic travelling back and forth when some proper planning would have prevented particular poor performance.
- Make sure when your customer (Lord Sugar in this case) gives you instructions you listen to the entire request and stay focused on the key results they want - in this case to Look Good but not Cost the Earth!
- That we are LUCKY to have the tools we all take for granted today to run our businesses - I for one will appreciate Google more when I need to find something in a hurry!