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As We ‘Roar’ into the 2020s, Take Time for Strategic Planning

Jan 8, 2020 | Business Growth, Business Owners, CEOs, Goal Setting, Productivity

In this “do more with less” age, everyone is under siege to improve performance at every level. In the expanding global marketplace, sustaining success is becoming increasingly more difficult.

Where will your business be in three to five years?

As the president or CEO, are you prepared to cope with the changes in the economy, the impact of global competition, and the changing demands of customers and suppliers? If there is one constant in the age in which we live, it is change and the uncertainty it brings. And this uncertainty is a fundamental reason for developing a strategy

The common question asked is: How can I develop a strategy for my company in a world where the only constant is change? Most people are averse to planning in the first place. Their biggest fear is that of setting a rigid plan that will hinder their ability to respond quickly.

I have always been a proponent that this is precisely the time you need to be proactive with a strategy. Having no strategy and a plan for implementing that strategy is like sailing a ship without a rudder, letting the wind take you where it may.

Strategy is the process of planning and thinking about how to position your company and allocate your scarce resources to optimize your success moving forward. In the current environment, you need to have a strategy to thrive; otherwise, our only motivation is survival. Peter Drucker says the best way to predict the future is to create it. I believe that, even though we don’t know how the future will unfold for all of us, we are better off having a strategic plan, so we have some idea of where we are going and why we are going there. In this day and age, we need to have a crystal-clear focus on our guiding principles, our shared values, our vision, mission, and purpose and our unique value proposition. This is a living document that is communicated throughout the organization for optimal success.

The strategic planning process is one of the most powerful tools you have in your arsenal to improve organizational focus and effectiveness. Again, no one can predict the future, but rather than sit back and wait for it to happen, the effective executive plans and anticipates what lies ahead.

A good strategic plan:

crystallizes thinking to be more proactive and gain greater clarity of priorities
creates a sustainable value proposition to gain a competitive advantage
creates shared values and guiding principles
develops a system to inspire and motivate change
aligns strategic employee intentions with company
communicates strategy to stakeholders to gain support for the plan
creates a plan of action to implement the plan and track results

How to Make 2020 Your Best Year EVER!

Dec 10, 2019 | Business Growth, Business Owners, CEOs, Goal Setting, Success

First, you need to define what “Best Year Ever” means to you; you have to know what you want in order to achieve it.

Step 1. Know what you really want in life and in business. Know what goals and outcomes you would like to achieve by the end of 2020 and know exactly what you don’t want. Create a list of personal goals and business goals for the next 12 months. Start with what you really want to accomplish for yourself by focusing on “what really matters most in your life” so that you can say yes to that list and no to everything that is going to try to derail you from you goals program. Create goals for personal health and well-being. Spend more time on your most important relationships. Stay connected with your kids as they grow up and/or pursue their college or post-college adventures? Pursue that special hobby or interest you have been putting off. Block more vacation time in your planner right now? This is the most important time you will spend if you want next year to be your best ever. Take time out of your busy schedule before January rolls in to recharge, relax, and reenergize with powerful and meaningful goals for next year. Get the pen to the paper right now and start mapping our your future.

Step 2. After you create your goals schedule an appointment with yourself every week to work on the action steps to move your goals forward. Our lives are built on the foundation of these six major areas: Family & Home, Financial & Career, Mental & Educational, Physical & Health, Social & Cultural, and Spiritual & Ethical. These areas are the foundation, the pillars that you will build a totally integrated life on. So make sure you are spending at least 1 hour a week in your plan of action. Your personal plan of action is the master plan for the rest of your life. Your planner should contain a master list of priority business and personal goals. Success in life is the result of progressive realization of your predetermined goals. The world is infested with distractions and noise designed to take us off our goals program and put us on someone else’s goals program which is why we have to continue to work in our personal plan of action weekly and continue to crystallize our thinking about what really matters most in our life.

Step 3. Develop a relentless focus on what really matters most, what is most important and significant in your personal and professional life by setting up ironclad boundaries so you are not interrupted with the tyranny of the urgent which usually isn’t really important. Focus on what you want and not on what you don’t want. Everything that isn’t important figure out a way to simplify, eliminate, delegate or outsource the activity. Then take massive action on your goals, make this a daily habit and you will be guaranteed to achieve your goals. Continue next week…

The Primary Driver of Success

May 28, 2019 | Business Growth, Business Owners, CEOs, Goal Setting, Productivity, Uncategorized

As business owners and CEOs, we are focused on increasing the bottom line. We establish goals to increase revenues, bring in new clients, and decrease unnecessary spending. We commit ourselves to understanding our organization and our industry, we are focused on our company’s vision, and we work with our teams to craft a clear strategic plan. We know the importance of hiring top performers and employee development, but we often neglect, or push aside, personal growth as leaders.

D. Wayne Calloway, former CEO of PepsiCo, once said, “I’ll bet most of the companies that are in life-or-death battles got into that kind of trouble because they didn’t pay enough attention to developing their leaders.”

Business leaders must consistently strive toward personal development for two primary reasons: They cannot improve or even maintain their results while staying the same, and they set the standard for their teams.

Leaders within organizations can be guided through this process by internal and contracted programs, but at the top of the hierarchy, business owners and CEOs are responsible to pave their own path. If they do not, the consequences are often devastating both to the individual and the organization.

Self-reflection and intentionality are foundational to personal growth. In his article, “Reflection Critical for Self-Improvement,” Allen R. McConnell explains how change requires two things: a goal and an understanding of where one is in relation to that goal.

In the pursuit of personal enhancement, leaders must identify who they desire to be and what they desire to accomplish both personally and professionally. Then, they must analyze where they are and what they need to do to reach their goals. This should be a life-long process that evolves as goals are accomplished and new ones are created.

Leaders who practice self-reflection are also more likely to behave ethically and morally. May Rollo, known as the father of existential psychology, said (man’s) capacity for ethical judgment … is based upon his consciousness of himself. Organizational leaders throughout history have caused substantial harm to not only themselves, their families, and their businesses, but contributed to severe ruin in the world economy and natural environment. The leaders with the most power have the highest potential for abuse. Leaders must consistently assess their personal motivations and seek advisement when necessary to avoid being overcome by the destructive nature of power.

If you want to begin or sustain your journey toward personal growth as a business owner or CEO, please join us at my next workshop, “6 Down, 6 to Go: A Mid-Year Tune-Up” on June 11. Click here for more information.

If you want to begin right now, you can download the Wheel of Well Being to assess your current ability to maintain balance in your life.

Mid-Year is Approaching, Are You Ready?

May 21, 2019 | Business Growth, Business Owners, CEOs, Goal Setting, Leadership, Leadership Development, Productivity

Over the past few weeks, we really hammered down the importance of goal-setting and planning and how it is essential to success both personally and professionally. This is something I know to be true from first-hand experience and working with clients. Equally important is reflection on these goals and the progress made toward achieving them.

The process of reflection gives business leaders necessary insight to make strategic decisions. It creates opportunities for celebrating successes and examining weaknesses. The current environment we live in is fast-paced, ever-changing, and global. Regular reflection and realignment of goals is a requirement to stay on track and ahead of the competition. I recommend taking the time to do this regularly but especially at mid-year.

Here are five questions to consider:

What are the major successes so far this year?

Take a look at what you and your company are doing right and have a party! When successes are celebrated, it increases motivation and engagement, resulting in higher productivity. You also need to know what is working because these are the high-payoff activities that you should focus the majority of your time doing.

What were the biggest challenges?

Review the areas where you and your organization are struggling. What goals have you made the least progress toward? Was there an unexpected catastrophe that could have been prevented? Did the original SWOT analysis underestimate your competition? If you want continued success, you need to be proactive in identifying obstacles and plan for them. When you fall short, you want to understand why and avoid repeating the same scenario in the future.

What have you learned?

This is self-explanatory. Look back at the past six months and think about what you know now that you did not know before. Apply what you have learned to your future goals and plans.

What are your Key Performance Indicators (KPIs) saying?

Look at the numbers, analyze and interpret them, and then make necessary changes. Measuring KPIs is worthless if you do not utilize the insight they offer.

How can you improve results?

Once you answer the first four questions here, this should be clear. What can you do to increase revenue, bring in new clients, grow your business?

Automobiles start breaking down without regular oil changes and maintenance. Computers and electronic devices need to be updated and restarted regularly or they will fail to operate. Businesses (and business leaders) need the same attention. Take some time at mid-year to refresh, refocus, and recharge.