So over a lovely lunch today, I thought I’d better start capturing my Flowtopia 2024 takeaways?
Well, let me start by explaining why I attended. For some time now, I’ve been passionate about creating high-performance teams, and what I’ve come to notice is that many organisations fail to reach that level because they regurgitate operating models that are currently fashionable or that they’ve had a modicum of success with before.
Often rigidly based on the frameworks they are most comfortable with.
It doesn’t matter how well you deliver on the other core tenets of high performance if the foundations are flawed.
So what can we learn from Flow or Value Stream Management (which is an eminently less sexy name 😂)?
The first step for me is aligning on terminology, and this is especially important in global organisations of many languages and cultures. Whilst that diversity is a super-power, it’s amazing how a different interpretation of just a single term can drive different behaviour and results.
Start with defining value at a business level. What does it mean and what does it look like? Who are you providing that value to? What are the core components of your agreed value?
Once you have that, you have a thread to follow. A chain or a stream, but wait, this is exactly why terminology matters. Whilst they are often used to mean the same concept, they really have two different meanings. A value stream is the steps and processes that lead to whatever your defined end value is. A value chain is the definition of the activities you take to create the stream. Small yet meaningful differences.
So lesson one from Flowtopia: understand and define value. Make it business-focused, think about what and when, not just how. Be clear on the operating rhythms of your business: sales, financial, governance, marketing, and product. Suddenly, you’re speaking the right language.
More thoughts to come, thank you to Value Stream Management Consortium for hosting. Great event!
Oh, lunch was at The Hero in Maida Vale. Superb.