Lead Like a P&G CEO

Many cannabis firms say they are running a CPG business. An important ingredient in this type of company is leadership.

What does this mean?

“Our values. The things that reflect our basic principles. Doing the right thing for our consumers, for employees, for our customers and for stakeholders. And winning.” John Smale, Former CEO

I was fortunate to work as a brand manager on some of P&G's most iconic brands including Tide, Ivory Snow and Cascade.

Recently, I stumbled upon an old document outlining their leadership principles. We drank these like mother’s milk - because they work. P&G has been one of the most successful companies in the world for the past 187 years.

It’s no secret that the quality of leadership varies within and across cannabis firms. It is increasingly apparent that management is one of a few factors that is separating the canna-winners from the losers.

If you want your MSO or LP to perform like a world class CPG company your managers need to understand what it really means to lead a CPG enterprise.

You can start with these 8 impactful P&G lessons-

1️⃣ Values matter

Great leaders find and embed key values in the culture. These will be your North Star for guiding day-to-day behaviour and important decisions around strategy creation, recruiting and partner selection.

2️⃣ Set Priorities

Setting, updating (if necessary) and sticking to a small number of priorities is the only way you and the company are focused on what really matters.

3️⃣ Take ownership

Get personally involved in solving tough problems and be held accountable for the outcomes. Be proactive, display a sense of urgency and regularly report on results.

4️⃣ Challenge your team

Maintain a standard of excellence around quality, attention to detail and critical thinking. Set ambitious but realistic expectations for everyone including yourself. Actions speak louder than words.

5️⃣ Celebrate small wins

Cannabis employees are often embattled. Rejoicing corporate and individual successes builds momentum and buy-in not to mention creates a winner’s culture.

6️⃣ Foster innovation

Embrace continuous improvement. Look at the periphery of your business for ideas. Periodically challenge your strategic assumptions.

7️⃣ Have fun

Employees spend 1/3 of their life at work. And we aren't curing cancer. Keep things in perspective including your sense of self and the need to occasionally let go.

8️⃣ Its all about change

Great strategies will fail without strong execution. This often comes down to changing people’s attitudes, incentives, tools and behaviors.

These 8 insights have major implications for organizational and financial performance. Just ask the Company with a US$400B market cap.

I help leadership teams enhance their management skills and build powerful corporate cultures.

#management #CPG #MSO #LP #leadership #culture