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ASK THE 40
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STRATEGY IS ABOUT UNDERSTANDING THE ENVIRONMENT YOU’RE IN AND MAKING CHOICES
j Barry Rivelis CIO, Pacific Blue Cross
and as a result, you need to be adaptable. Every challenge is also an opportunity, so it is important to try to shift your mindset into a positive versus negative setting. What has been fascinating to me is how much I have learned when I’ve failed. That learning has contributed to greater career and life success.
4. WHAT SETS A TRULY SUCCESSFUL STRATEGY APART?
A good strategy is easily understood, is aligned to the environment you are operating in and identifies what you are going to do and, as importantly, what you are not going to do. Resources need to be aligned to the strategy, and measured and tracked appropriately. The final part of a good strategy is leadership. When you embark on a new strategy, things feel awkward and different. But if you believe your analysis and direction, great leadership will provide the discipline to make the choices you and your team have agreed to.
5. IF LEADERS WANT TO IMPROVE THEIR CAREER OR COMPANY STRATEGY, OR THEIR STRATEGIC THINKING, WHERE SHOULD THEY START?
You need to first determine where you want to go, either in your career or your organization, and then work backwards through the tactics to get you to that place. At the same time, be brave enough to say no if you don’t believe a particular tactic will get you to where you want to go. When you say no, be comfortable that the door you are going to close won’t actually open up a pathway to your destination. Second, be curious and ask a lot of questions. Questions allow you to gain insight. Third, if you really want to learn from someone or a group of people, ask. You would be amazed how often people don’t ask. Fourth, work hard – nothing replaces hard work. And finally, say thank you. I still send thank-you notes, which extends a level of gratitude that people truly appreciate and will take the time to reciprocate in the future. É
ASK THE 40 In the spirit of this month’s magazine theme, we asked BIV Forty under 40 winners about one of the best investment decisions they’ve ever made.
Borrowing money as a single-parent student and going on to achieve two university degrees Youssef Zohny, institutional consulting director, Morgan Stanley
In 1996 joining the Vancouver chapter of EO (formerly YEO) Praveen Varshney, partner, Varshney Capital Corp.
Investing in my tech skills Linda Fawcus, founder and CEO, Gluu Technology Society
Investing precious startup capital to bring in experienced people Rob Craig, CEO, 3 Tier Logic
Becoming our own landlord and purchasing our office David Coates, managing partner, Ion Brand Design
My own business Paul Welsh, managing partner, National Vancouver
Taking several years off after selling my first business to focus on family Eric Jordan, CEO, Codename Entertainment
Giving back Peter Armstrong, founder and CEO, Armstrong Group
Taking the personal risk to acquire Webnames.ca when it could have been sold to a large U.S. company Cybele Negris, co-founder and CEO, Webnames.ca Inc.
Building an R&D laboratory to create novel environmental technologies Norm Chow, president, Kemetco Research Inc.
Our recommendation to buy the Boyd Group in 2008 at $2.30. The stock trades above $205 today, for a gain of over 8,900% Ryan Irvine, president and CEO, Keystone Financial
Expanding LMS into new markets (and my subscription to BIV) Ron McNeil, co-founder and CEO, LMS Reinforcing Steel Group
Buying a house in Vancouver in 2003 Jason Smith, co-founder and CEO, Klue
Meditation, morning and night Tina Burke, director, Burke Recruiting
Getting a claim paid within 24 hours is like training for the Sun Run.
Go with someone who won’t slow you down.
Aaron Brady, Director, Product and Innovation
Make your employees Pacific Blue Cross Members.
At Pacific Blue Cross, we’re locals. We know B.C. and the B.C. health care system – including how to leverage technology to make claiming quick and easy. In fact, only Pacific Blue Cross has innovative software that powers our online Member portal and mobile app so that claims can be reimbursed in as little as 24 hours.
