Archive for 2014

In 100 Words: Give and Receive

Monday, December 15th, 2014 by AdvisorCatalyst

It is an appropriate time of the year to consider the benefits of giving and receiving. In the business world, though, it is about trading knowledge rather than tangible gifts. Many people would be surprised if they knew how freely business leaders share expertise and experiences with other leaders. In my experience, most leaders have a genuine desire to share with, as well as learn from, others. They have learned the wisdom of being both a teacher and student – to humbly share and excitedly learn.

So, let the exchanging begin because to both the givers and receivers belong the gain!

“We make a living by what we get. We make a life by what we give.” – Winston Churchill

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In 100 Words: Fail Fast

Saturday, November 1st, 2014 by AdvisorCatalyst

We are so conflicted when it comes to failing. Failure is painfully hard to endure, yet amazing break-throughs can emerge out of the trial. The failure of Plan A may lead to a successful Plan B (or C or H…). We achieve success precisely because we failed earlier attempts. So, the faster we fail, the more quickly we can succeed.

Certain sales approaches teach how to get to “no” quickly. There is something to that attitude. Why waste resources hoping? Choose a path then push, fail, learn and modify. Repeat. With some iteration of the cycle success will likely emerge.

“There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” –Colin Powell

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In 100 Words: How to Waste a Meeting

Monday, September 15th, 2014 by AdvisorCatalyst

Lack of preparation is one of the surest ways to waste a good meeting. Do you remember Kramer’s classic entrances in the old TV sitcom Seinfeld – the off-balance slide with hair wildly flying? This is how many executives enter their meetings.

Meeting effectiveness is directly proportional to the preparation time participants expend. Each participant should run through this simple pre-meeting checklist:

  • consciously note the meeting objective
  • review key topics and input data
  • write down what debates and decisions are needed

Scheduling buffer time between meetings is the practical transition mechanism for accomplishing this preparation. Don’t waste another meeting; enter prepared.

“Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” –Abraham Lincoln

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In 100 Words: Trapped by Success

Friday, August 1st, 2014 by AdvisorCatalyst

We can become trapped by thinking and methods which are currently successful. Existing strengths or competitive advantages can also quickly turn into major limitations. The very factors which led to past successes become impediments to future, larger accomplishments.

This reality is difficult to see precisely because current achievements are directly linked to a particular paradigm we created and exercised (usually for years). However, our framework must flex.

In short, we must be willing to change and discard even successful efforts. This is what Peter Drucker referred to as “systematic abandonment.” We should consciously shift resources to new, more promising opportunities.

“Don’t let yesterday use up too much of today.” –Will Rogers

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In 100 Words: Lead Patiently

Saturday, June 14th, 2014 by AdvisorCatalyst

Superior performance is rarely achieved through relentless force and pushing. Great leaders learn to strike a balance between motivational challenging and patience

Leaders CHALLENGE by:

  • Expecting great results and holding people accountable.
  • Practicing continuous learning themselves followed by wise application of concepts.
  • Maintaining key disciplines such as meeting rhythms and priority-setting.
  • Driving resource alignment around strategic priorities.

Leaders demonstrate PATIENCE by:

  • Knowing change does not happen overnight.
  • Spending years developing an effective, healthy leadership team.
  • Understanding there is a limit to how much a person can take on and absorb (stretch) at any point in time.
  • Repeating themselves…without showing frustration.

“Patience is the companion of wisdom.” –Saint Augustine

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In 100 Words: Key Practice of a Level 5 Leader

Thursday, May 1st, 2014 by AdvisorCatalyst

Alan Mulally’s upcoming retirement as CEO of Ford Motor Company is big news these days.  All organizations, not just those in the automotive sector, should take note.  Mulally’s leadership in turning around Ford highlights a key Level 5 Leader practice he, and the executive leaders, used to take Ford to the top of the industry.

A tight weekly executive team meeting (Mulally’s BPR – Business Process Review) was implemented to drive both business plan execution and building a strong leadership team.  Candor, along with accountability around data, virtually non-existent in past Ford culture, have paved the way for consistent business performance.

 “Running a business is a design job.  You need a point of view about the future, a really good plan to deliver that future, and then relentless implementation.”  Alan Mulally

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Practices of a Level 5 Leader

Thursday, May 1st, 2014 by AdvisorCatalyst

Alan Mulally’s upcoming retirement as CEO of Ford Motor Company is big news these days.  All organizations, not just those in the automotive sector, should take notice.  Mulally’s leadership in turning around Ford highlights a Level 5 Leader (a leader who places the success and results of the organization ahead of their own individual accomplishments and legacy).  Here are some key practices he, and the executive leaders, used to take Ford to the top of the industry.

Most significantly, or simply, Mulally used a tight weekly executive team meeting (his BPR, or Business Process Review) to drive both business plan execution and building a strong leadership team.  Candor, trust and accountability, virtually non-existent in past Ford culture, now form the foundation for the executive level leaders.  With that foundation, a deliberate focus on data culminated in a dramatic turn-around (2007 – 2009) followed by years of consistent business performance.

Second, Mulally created a simple vision for the organization, repeated that vision all the time and didn’t change the course even when people outside were constantly looking for the next “new plan”.  His view was, we have the right plan and we’re still working on implementing it.

Third, Mulally focused the organization back on the customer.  Significant money was invested in new product development and quality initiatives even during significant cuts to operations.  What mattered to customers was appealing designs, good fuel economy and cars that didn’t break.

Fourth, Mulally simplified the business.  Ford reduced the number of brands (auto name plates) down to two.   They also reduced waste and redundancy in operations by coordinating design, engineering, quality and manufacturing efforts across the entire global organization.

Mulally’s final step will be completing a deliberate and orderly succession.  Here is a link to a recent article highlighting the transition.

For more in-depth understanding, see the book, American Icon: Alan Mulally and the Fight to Save Ford Motor Company by Bryce G. Hoffman.

 

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In 100 Words: Accelerate Your Biggest Opportunities

Friday, March 14th, 2014 by AdvisorCatalyst

Are your best resources committed to your biggest opportunities?  Let me be more specific in two ways. 

First, do you know the most significant growth opportunity for your organization looking five-plus years into the future?  Many times it’s different than your current way of business. 

Second, out of all your talent resources, are your absolute best people focused on what you know to be that largest opportunity?  It’s all too natural for the best people to be consumed with the existing business.  It’s an energy trap.

You accelerate outcomes when your best people are leading your most significant growth opportunities.

“Surround yourself with the best people you can find, delegate authority, and don’t interfere as long as the policy you’ve decided upon is being carried out.”     Ronald Reagan

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In 100 Words: Execute Like Crazy!

Friday, January 31st, 2014 by AdvisorCatalyst

Now is the time to execute!  2014 plans have been laid out and communicated to the organization.  First quarter Rocks (priorities) are identified.  Could your goals be better defined?  Could you spend more time fine-tuning the plan?  Absolutely.  You can always find additional things to study or clarify.  But, now is the time to run.

Don’t hesitate.  Don’t procrastinate.  The momentum you gain (or lose) in the first 90 days will impact your entire year’s plan.  Go heads down on executing your Rocks.  Then, at the end of the quarter, you will have opportunity to reassess and make course corrections.

A good plan violently executed now is better than a perfect plan executed next week. (George S. Patton)

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