Transcript Document
THE GROWTH PARTNERSHIP
The Disciplines of Getting Things Done
Secrets of Flawless Execution
Presented to the 2020 Group
Introduction
• People on your work team know the firm’s most
important goals.
58%
• People know exactly what they are supposed to
54%
do to help achieve the firm’s most important goals.
• Your team consistently plans together to achieve
the most important goals.
47%
• People on your team know how they’re doing on
those goals.
35%
Sustained Superior Performance
Sustained Superior Performance
Today’s
Performance
(P)
Specific Business Results
Building Capability
Long-term
Performance
(PC)
Execution Process /
Strategy Implementation
Leadership & Management
Development
Individual Effectiveness
Disciplined Thought/
Disciplined Action
“Level 5 Leadership”
Disciplined People
3
Execution Check
Pg. 44
4
Execution Framework
5
Execution Happens When…
People are
clear about
“the goal”
They know
the critical
activities
and actions
Sounds Simple?
They do it
Agenda
1. The “Execution Challenge”
2. The 6 Root-causes of Execution Breakdowns
3. The 4 Disciplines of Execution
The Execution Challenge
People are
clear about
“the goal”
Goal:
They know
the critical
activities
and actions
They do it
How?
Who?
Do What Differently?
%
Model
%
Not Yet
%
Never
Question 1:
Question 2:
Question 3:
What is the most important
goal of my organisation or
business unit?
What group of people must
learn something new
or do something different for us
to be successful?
Who is modeling the behavior?
What is it worth?
Clarity _____
Commitment ______
Translation _____
Commitment _____
Who is not yet there, but could
get there?
Who is never going to get there?
Enabling _____
Synergy _____
Accountability _____
Accounting Firm Execution Challenge
Strategic Bet
Clear about
“the goal”
75% Client
Retention
Execution Bet
know
activities
and actions
They do it
How?
Cross-sell/Provide more
services
Who?
Sr. Accountants/Partners
Do What Differently?
1. Sr. Accountants – Question
clients to ID opportunity
2. Partners – Strategic
Account Reviews
3. Firm – At least quarterly
face-to-face client contact
%
Model
%
Not Yet
%
Never
Agenda
1. The “Execution Challenge”
2. The 6 Root-causes of Execution Breakdowns
3. The 4 Disciplines of Execution
Root-causes of Execution Breakdowns
Are they clear
about “the
goal”?
1. Clarity
Do they know what
is most important?
Root-causes of Execution Breakdowns
Are they clear
about “the
goal”?
1. Clarity
Do they know
the critical
activities?
2. Translation
Do they know what to
do and how to do it?
Root-causes of Execution Breakdowns
Are they clear
about “the
goal”?
1. Clarity
Do they know
the critical
activities?
2. Translation
3. Commitment
Are they committed to the
goal and their role in it?
Root-causes of Execution Breakdowns
Are they clear
about “the
goal”?
1. Clarity
Do they know
the critical
activities?
Do they
Do It?
2. Translation
4. Enabling
3. Commitment
Do we make it easy
for them?
Root-causes of Execution Breakdowns
Are they clear
about “the
goal”?
1. Clarity
Do they know
the Critical
Activities?
Do they
Do It?
2. Translation
4. Enabling
5. Synergy
3. Commitment
Do we work effectively
together?
Root-causes of Execution Breakdowns
Are they clear
about “the
goal”?
1. Clarity
Do they know
the Critical
Activities?
2. Translation
Do they
Do It?
4. Enabling
5. Synergy
3. Commitment
6. Accountability
Do we hold each other
accountable all of the time?
Agenda
1. The “Execution Challenge”
2. The 6 Root-causes of Execution Breakdowns
3. The 4 Disciplines of Execution
Agenda
1. The “Execution Challenge”
2. The 6 Root-causes of Execution Breakdowns
3. The 4 Disciplines of Execution
Discipline 1
Clear about
“the goal”
The 4 Disciplines of Execution
know
activities
and actions
They do it
Discipline 1:
Focus on the “Wildly Important”
The team is clear about and committed to the most
important objective(s) and people stay focused despite all
the other competing priorities.
Discipline 1
Clear about
“the goal”
The 4 Disciplines of Execution
know
activities
and actions
They do it
Discipline 1:
Focus on the “Wildly Important”
Common Thinking:
We can effectively accomplish
6, 8, or even 10 important goals
at once with excellence.
Reality:
The more we narrow our focus
the greater our chances of
achieving our goals with
excellence.
Discipline 1
The 4 Disciplines of Execution
Important Goal
A goal with significant consequence or value.
Discipline 1
The 4 Disciplines of Execution
WILDLY
Important Goals
(WIG) Our most leveraged goals. Goals that
drive our vision, make all the difference, and
that take us to a new level. Perhaps, failure
to achieve these goals renders any of our
other achievements inconsequential.
General Electric - The Power of Focus
1980
• 45+ business units
• $25.5 billion revenue
1981
• Jack Welch (CEO) announces that GE will
leave any business line where they cannot
hold the leadership position or a very
close 2nd place
2000
•
•
•
•
12 business units
$129.8 billion revenue
40-fold increase in stock price
Outperformed S&P 500 by more than
three times over the two decades
Discipline 1
What It Takes to Focus
1. Identify what’s wildly important
2. Focus significant activity and resources
on it
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Discipline 1
The Focus – JFK’s Speech to Congress
“I believe that this nation should
commit itself to achieving the goal,
before this decade is out, of landing a
man on the moon and returning him
safely to the earth.”
President John F. Kennedy
25
Discipline 1
The Commitment of Resources
“I believe we possess all the resources and talents
necessary. But the facts of the matter are that we
have never made the national decisions or
marshalled the national resources required for such
leadership. We have never specified long-range
goals on an urgent time schedule, or managed our
resources and our time, as to insure their fulfillment.
This decision demands a major national commitment
of scientific and technical manpower, materiel and
facilities, and the possibility of their diversion from
other important activities where they are already
thinly spread. It means a degree of dedication,
organization and discipline which have not always
characterized our research and development efforts.”
President John F. Kennedy
26
Charan & Bossidy on Execution
“Leaders who execute focus on a very
few clear priorities that everyone can
grasp.”
—Execution: The Discipline of Getting Things Done
27
Jim Collins on Focus
Jim Collins, in Good to Great, calls this
focus the “Hedgehog Concept.” He
found that great companies tend to
focus on “one big thing,” at the
intersection of their economic engine,
their strategy (or what they can be
best in the world at), and their
organizational passion.
(Recall the 2005 2020 Conference)
28
Peter Drucker on Focus
“I have never encountered an executive
who remains effective while tackling
more than two tasks at a time.”
—Peter Drucker
Management Guru
Harvard Business Review, June 2004
29
Discipline 1
The 4 Disciplines of Execution
Creating Goals that…
❑ Are Focused (3 or fewer)
❑ Create Line-of-sight
❑ Are Well-crafted (specific|clear|deadline driven)
❑ Have Team Commitment
WIG Filter
Discipline 1
The 4 Disciplines of Execution
Firm Level WIGs
WIG 1
WIG 2
3 WIGs
2 WIGs
Litigation
Support
Auditing & Accounting
WIG 2
3 WIGs
Tax
3 WIGs
3 WIGs
2 WIGs
Construction
Manufacturing
Professional
Services
Multiplication of Goals
Discipline 2
Clear about
“the goal”
The 4 Disciplines of Execution
know
activities
and actions
They do it
Discipline 2:
Create a Compelling Scoreboard
We have a highly visible scoreboard of the critical few
measures that motivate our players to win!
Discipline 2
Clear about
“the goal”
The 4 Disciplines of Execution
know
activities
and actions
They do it
Discipline 2:
Create a Compelling Scoreboard
Common Thinking:
Once we have communicated the
goal people will know we are
serious about it.
Reality:
They won’t believe we’re serious
until we start keeping score.
Three Types of Measures
Lagging
Lagging measures provide an
historical look at past performance.
Leading
Leading measures provide indicators
that are predictive of future results.
• Must drive the lag measures
• Should be sensitive enough to move
every week
• Behavioral, not “quick lag” measures
Real-Time
Real-time measures show where things
are right now. They allow corrective
action to be taken immediately to
affect the outcome.
36
23
Discipline 2
The 4 Disciplines of Execution
Lag Measure
Lead Measure
Measures Goal Achievement
Predictive of the Goal
Difficult to Influence
Easier to Influence
Easier to Measure
Harder to Measure
Client Retention
+ Client “touches”
Revenue
WIP
Profit
Number of Strategic Reviews
Discipline 2
The 4 Disciplines of Execution
Compelling Scoreboards…
❑ Are Simple
❑ Are Visual and Highly Visible to the Players
❑ Exist at all Levels
❑ Have the right “Lead” and “Lag” Measures
Accounting Firm Example
Wildly
Important
Goals and the
Measures
1. Develop
and “Professionalize”
Automotive Niche
to achieve desired market position .
a. Develop marketing campaign by June 30.
b. Meet with 15 prospects by October 31.
c. Convert 5 clients by December 31.
2.
Develop online accounting systems capabilities for top
50 clients within 12 months.
a. Get system up by June 30.
b. Complete first five pilot companies by November.
c. Bring “five live” every month until August of next
year.
3.
Achieve the most successful product launch in firm
history with Cost Segregation Studies.
a. Generate 20 percent of sales from new clients.
b. Generate 30 percent of sales from referral sources.
c. Generate 50 percent of sales from existing clients.
d. Achieve total revenue of $500K by year-end.
Personal Scoreboard for Jeff Pawlow
Recovery
Debtor Aging
40
Discipline 3
Clear about
“the goal”
The 4 Disciplines of Execution
know
activities
and actions
They do it
Discipline 3:
Think Differently, and Translate New
Goals Into Specific Action
We think “new and better” and have a process for
individually selecting and activating the critical few weekly
objectives that will drive the goal.
Discipline 3
Clear about
“the goal”
The 4 Disciplines of Execution
know
activities
and actions
They do it
Discipline 3:
Translate Goals Into Specific Action
It’s not uncommon to think…
However, in reality…
The best ideas come from the leaders.
The best ideas come from interaction
between leaders and the front line.
If people know the goal and see the
scoreboard, they will know what to do
about it… and do it….
Goals will never be achieved until
everyone on the team thinks critically
about what must be done to achieve
goals and then does it.
Discipline 3
The 4 Disciplines of Execution
Key Questions…
Do you think “new and better”
What are the three most
important things I can do this
week to impact the scoreboard?
Discipline 3
The 4 Disciplines of Execution
“New and Better”
Einstein’s definition of Insanity?
Getting to Synergy: 1+1= 3
10
100
Discipline 3
The 4 Disciplines of Execution
What would it be worth if
everyone in your firm actually
did the three most important
things they could do to move
the goal forward each week?
An Important Question
Is your week happening to YOU…
or are YOU happening to your week?
A Typical Week
M
T
W
Th
F
Sa
Su
An Effective WIG Week
M
T
W
Th
F
Sa
Su
Discipline 3
1
2
3
Translate Goals into Specific Action
3 Team Goals
Increase Number of
Referral Sources
1_______________
Identify 3
New Sources
2_______________
2 referral
meetings
3_______________
Monday
Tuesday
Wednesday Thursday
8:00
ID 3
Sources
9:00
Citibank 10:00
Win-win
11:00
Taylor
Assoc.
Meeting
12:00
1:00
2:00
3:00
4:00
Citibank
Win-win
Nic Jones
Meeting
Friday
Discipline 4
Clear about
“the goal”
The 4 Disciplines of Execution
know
activities
and actions
They do it
Discipline 4:
Hold Each Other Accountable All the Time
We have a process for reporting to each other on the
critical few weekly objectives that will drive the goal.
Discipline 4
Clear about
“the goal”
The 4 Disciplines of Execution
know
activities
and actions
They do it
Discipline 4:
Hold Each Other Accountable All the Time
It’s Not Uncommon to think:
As long as goals are clear and
compelling and people know what to do
to achieve them they will remain
focused and committed to doing it.
However, in reality:
The certainty of weekly
accountability to the team
ensures focus and commitment.
Hold Each Other Accountable
“Follow-through is the
cornerstone of execution,
and every leader who’s
good at executing follows
through religiously.
Following through ensures
that people are doing the
things they committed to
do.”
Larry Bossidy,
Execution: The Discipline of Getting
Things Done
47
The Weekly Cadence
Discipline 2:
Maintain and Review the Scoreboard
Disciplines 3 & 4:
Make Individual Commitments and
Report on Activity and Results
The 4 Disciplines of Execution
Clear about
“the goal”
know
activities
and actions
They do it
1. Focus on the Wildly Important
The 4 Disciplines of Execution
Clear about
“the goal”
know
activities
and actions
They do it
1. Focus on the Wildly Important
2. Create a Compelling Scoreboard
The 4 Disciplines of Execution
Clear about
“the goal”
know
activities
and actions
They do it
1. Focus on the Wildly Important
2. Create a Compelling Scoreboard
3. Translate Goals into Specific Action
The 4 Disciplines of Execution
Clear about
“the goal”
know
activities
and actions
They do it
1. Focus on the Wildly Important
2. Create a Compelling Scoreboard
3. Translate Goals into Specific Action
4. Hold Each Other Accountable
All The Time
The 4 Disciplines of Execution
“We must all inevitably suffer
from one of two pains. Either
the pain of discipline or the
pain of regret!”
Jim Rohn
Business Philosopher and Speaker
47
Quote
“There is a tide in the affairs of men,
Which taken at the flood, leads on to
fortune; Omitted, all the voyage of their
life is bound in shallows and in miseries.
On such a full sea are we now afloat.
And we must take the current when it
serves, or lose our ventures.”
—William Shakespeare
Julius Caesar
59
55
Quote
“The critical ingredient is getting off
your butt and doing something. It's as
simple as that. A lot of people have
ideas, but there are few who decide to
do something about them now. Not
tomorrow. Not next week. But today.”
—Nolan Bushnell
Founder of Atari Computer
60
55
If This Is All Just Too Hard…
“The nicest thing about not planning
is that failure comes as a complete
surprise rather than being preceded
by a period of worry and
depression.”
—Sir John Harvey-Jones
Thank You!
Jeffrey S Pawlow
CEO & Managing Shareholder
The Growth Partnership, Inc.
[email protected]
www.thegrowthpartnership.com
(314) 209-0922