Transcript Way to Grow template
“Ouch” “Ho-Hum” “Gee-Whiz” “WOW”
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Types of Businesses
Lost control – personally and professionally Tend to do OK when the market is OK Well managed – tend to get comfortable / vulnerable Impeccably managed in every aspect – never comfortable 2
WOW Businesses
What They Look Like
• Clear vision and sense of purpose • External focus • Clear values and strategy • Organizational alignment • Effectively lead people and manage processes • Flawless and rhythmic execution 3 www.gowowadvisors.com
Some Fundamentals
• Know what you want to achieve • Know what you do well – and why it matters • Focus on the present and the future • Employ the very best people • Minimize surprises 4 www.gowowadvisors.com
The First P Perpetual Planning
Steps 1-10
Personal Vision
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• A unifying set of personal values, beliefs and attitudes • Links dreams, goals and timetables of the owner to the business • Defines and articulates the outcomes to be achieved by all stakeholders 6
PATH TO “WOW”
Perpetual Planning Process
PERSONAL VISION
In Sync
ORGANIZATIONAL VISION STRATEGIC AND OPERATING PLANS
Planning
A decision-making process by which organizations develop their objectives, strategies, and action plans to achieve them.
Planning emphasizes present-day decisions that affect the future.
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Simplified Planning Model
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• Define
Reality
•
Focus
your business against defined reality • Determine
Skills
/ required for success
Competencies
Adapted from Peter Drucker
Theory of the Business
Pub. date: Sep,1994 9
Setting Direction
Vision
(The outcome we will achieve) Planning (What we do, products offered, customers served, needs met)
Mission
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10
PATH TO “WOW”
Why Plans Fail
• CEO not committed • Wrong people in key positions • Ignore marketplace reality • Too many goals / activities • People who will implement it – not involved in creating it • Current business not “ in control ” • Crises intervene • Not reviewed regularly • Not held accountable for results • Inadequate resources available Courtesy of Dave Sullivan © 2013, Shamrock Group, Inc.
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The Second “P” People
“Structure Follows Strategy.”
– Alfred S. Chandler Steps 11-17
People Who Fit –
– Now and for the future
• Right person; right skills; right structure • Look for those who are a cultural “fit” • Hire for attitude; train for skills • Hire slowly – terminate quickly • Never settle 13 www.gowowadvisors.com
The Future Organization
• Review current structure vs. current performance • Overlay the strategic plan – Determine skill sets required from each key person – Evaluate capabilities of current employees to deliver it • Identify gaps – Initiate employee development program – Recruit / hire talent required • Revise the structure to implement the plan 14 www.gowowadvisors.com
People Development
Who is Responsible?
We each have the ultimate responsibility for our own growth – personal and professional • Leadership’s role • • • Create the environment Provide the resources Give feedback on developmental progress • Employee’s role – develop /grow with the company 15 www.gowowadvisors.com
Leadership Facts
• Everything you do is observed and interpreted • You cannot control everything that happens - nor can you control what others think • Every interaction within an organization conveys a message – by design or by default • Just because you own the place doesn’t give you the right to run it 16 www.gowowadvisors.com
Culture
• The way things get done • Leaders form the culture through their behavior • Major driver of long-term success or failure • Must be managed – even in the “WOW!” companies • Difficult to change 17 www.gowowadvisors.com
PATH TO “WOW”
Your Impact on Culture
Values Behaviors as perceived by you Your Actual Behavior
GAP
Behaviors as perceived by others Leadership Behavior
Courtesy of Dr. Lee Ginsburg and Shamrock Group, Inc
Effective Organizations
• Flexible, adaptable, and creative • Buy-in to what must be done • Believe they have a responsibility to the business – not just to their job • Do what they say they will do – and they do it on time • Welcome being accountable for results 19 www.gowowadvisors.com
The Third “P” Processes
Step 18
Process Control Issues
• No defined outcome • Unclear who has what authority • Priorities are blurred • Duplication of effort • Less than expected performance • Slow to make decisions 21 www.gowowadvisors.com
PATH TO “WOW”
WOW Processes
• Aligned / driven by plan • Defined / well documented • Clear- never misinterpreted • Repeatable • Followed to the letter • Linked to job descriptions • Impact compensation • Drive training and development 22 www.gowowadvisors.com
Control Process
• Set performance standards • Consistently monitor and measure performance • Take appropriate action • Recognize / reward achievement – good and bad 23 www.gowowadvisors.com
The Fourth “P” Performetrics
Steps 19-23
Performetrics
“Things that get measured are the things that get done.” – Michael LeBouef • Focus on outcomes – not activities • Monitor performance versus plan • Anticipate trends that will impact the business • Link empowerment and accountability to performance 25 www.gowowadvisors.com
PATH TO “WOW”
• • Job descriptions • Dashboards • Balanced scorecard • ABC Accounting • McKinsey 7-S • ISO • Action plans www.gowowadvisors.com
Performetrics Examples
The tools used don’t matter – using them consistently to improve the business does 26
The Fifth “P” Passion
Steps 1-23
Inspiration
When you bring together passion and vision, anything is possible 28 www.gowowadvisors.com
PATH TO “WOW”
Passion
• The primary driver of a WOW business • Comes from our personal vision and values • It creates purpose • Accelerates the pace of play • Provides the excitement and courage to move forward 29 www.gowowadvisors.com
PATH TO “WOW”
Passionate Leadership –
– Getting to WOW levels
• Servant leaders – looks to the needs of the people first • Humble; yet confident • • Calm; yet assertive Courageous; yet controlled • Dedicated to being the best • Committed to the success of the business • Recognizes personal flaws and seeks help 30 www.gowowadvisors.com
PATH TO “WOW”
Passionate Leadership –
– Staying at WOW levels
• Surrounded themselves with talented people • Seek outside counsel and expertise • Actively listen • They realize this is a journey – not a destination • Continue to learn and grow • Step aside at the right time 31 www.gowowadvisors.com
PATH TO “WOW”
Just Follow The Path!
• It begins with your personal vision • Continually • Reassess • • Revise Repeat • Move closer to “WOW” status with each cycle