It’s time to take inventory of our assets.
What are the two greatest assets in your organization?
Why are the they greatest assets — what do they enable your organization to do that you wouldn’t be able to if you didn’t have them?
How can you more fully employ them?
When you look at your assets, what gaps are there?
What can you do to fill the gaps?
Be sure to spend some time looking at this from both a short-term and a long-term perspective.
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As we have done on numerous occasions, today we are going to seek some outside perspective on our strategies. I suggest enlisting the help of a trusted friend or colleague from outside your team or organization, this will allow you the benefit of an objective perspective.
Set up some time with this person, share one of your big strategies and ask for their candid feedback and insight on what you have planned. Ask how they might approach it differently.
Prepare for your meeting as you would prepare for a meeting with a mentor. Take some time to develop questions that will help you truly see your strategy in a new light.
When you meet, be sure to ask for ideas on how you can better leverage your assets, as well. Make sure to take good notes, and follow up with this person — let them know what you did with their feedback and show your appreciation for their taking the time to spend with you.
Good luck!
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How often have you heard someone say, “People are your most valuable asset.” I’ve heard it spoken countless times in interviews…and frankly, I’ve said it myself countless times. There’s a subtle difference here, though, and I’m certain you are already aware of it. Often, the people who say this are not sincere…they may want to believe it and may want to behave as if it were true, some even truly believe they treat their people as such, but it simply isn’t the case.
I truly do believe it. Technology can be bought and sold; the same can be said of machinery and equipment. The key difference maker in any business is the people. They build, run, and maintain all the “stuff” and have a choice, daily, to show up with 100% effort or not. They can choose to nurture your business or sabotage it. They can choose to take good care of your equipment, damage it deliberately, or allow it to fall into disrepair. They are the face of your company in your community, with your customers, vendors, and other partners.
All others things being equal, they can be your secret weapon! All that is required is treating them well…offering trust and behaving in a trustworthy manner; treating them with respect and behaving in a respectable manner; getting to know who they are and treating them as individuals with lives outside your business; and showing them genuine appreciation for what they have to offer and what they do for your business. This is as true for your vendors, customers, and other partners as it is for your employees.
If you haven’t given this much thought lately, I encourage you to spend some time with this today; get out your journal and answer these questions:
How would your partners, vendors, customers, and employees say you are showing you appreciate them?
How would they say you are at building trust with them?
What words can you use — backed up by consistent behaviors — that will help you demonstrate your appreciation, trust, and value for each of these groups of people who have the power to make or break you and your business?
What steps can you take today, and in the coming weeks, to ensure you are on track here and to make adjustments if needed?
What’s holding you back? Now that you are focused on this, and have some clarity around it, get started!
Taking excellent care of the people connected with your business is one of the best business strategies you can have!
Posted in Leadership | Tagged Character, Commitment, Communication, Doing the Right Thing, Intentional, Leadership, Reflection, Relationships, Strategy, Taking action | Leave a Comment »
We’ve talked some about having an awareness of our strengths. I wonder, have you explored this for yourself? If I were to meet you today, and asked you the question: What are your strengths? Could you answer without hesitation?
If you hesitate, I encourage you to spend some time in exploration, as understanding this about yourself will have tremendous benefits throughout your life.
What does knowing one’s strengths have to do with strategy? Well, it allows one to leverage one’s assets, and to do so strategically. It’s one of the keys to success, in that you know who you are, what you have to offer, what your areas of expertise are, and that enables you to build on those assets to move yourself, your team, and your organization forward.
This also allows you to leverage your influence. My leading strength is as a strategist and one of my areas of expertise is in communication. When I combine the two, and develop strategic communication plans, I am able to leverage a strength, with an area of expertise, which allows me to expand my influence. Were I to attempt to function in the say way in another area, say finance or engineering, well…it would be somewhat laughable, as those are not my areas of expertise.
So, learn about yourself so you can leverage your strengths and expand your influence. This, in turn, will allow you to embrace risk more easily, because you have a solid foundation from which to begin.
Think about prominent, successful figures in business who have done this…Rupert Murdoch — made his name in Australia with newspapers and this is how he moved into the US media market, with Fox Broadcasting and the Wall Street Journal. Steve Jobs — so well known for his time at the helm of Apple, also used his technological expertise and intuition about what viewers were looking for when he moved Pixar into the spotlight.
The business world and history are full of similar stories. The question is, what is your story?
Who are what are your most valuable assets and how can you invest in them and deploy them to expand your influence and propel yourself forward?
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Another week gone by…the air is crisp in the mornings, soft in the evenings, and the leaves are turning amazingly beautiful colors. I love this time of year! I hope wherever you are on this Friday morning, you are surrounded by beauty as well.
It’s been a full week for me, with several coaching and mentoring sessions, working on developing some meeting/workshop agendas and materials, and planning for some lessons I will teach next week around self-awareness, intentionality, influence, connection, communication, personal styles, conflict resolution, and relationship building.
I will spend time over the weekend continuing to prepare for those upcoming lessons/workshops, as well as having fun with my family attending a local annual festival. In addition, I need to read John Maxwell’s newest book: Sometimes You Win, Sometimes You Learn. John will officially launch this new book next Thursday, October 10, via two live webcasts (one at 4 PM EDT and one at 9 PM EDT), accompanied by special guests, Dave Ramsey and Nick Vujicic. You are welcome to attend; you don’t want to miss it! Here’s the link (webcast.johnmaxwell.com).
I will be following up on the webcast by offering a Mastermind Group (facilitated in-depth study) on the book, so if you’re interested in joining us, connect with me via comment, email, phone, or Facebook.
Further, my weekend will include some time and focus invested in the three areas of discipline I’ve committed to work on through the Maxwell Plan for Growth: exercise – yoga at least three times per week; writing – a minimum of 15 minutes a day, in addition to this blog; and getting more intentional about budgeting.
What are you doing with your weekend?
Whom do you need to connect with, nurture, spend time with?
What do you need to do to nurture yourself?
What can you do to prepare yourself for a great start to next week?
What can you do to set yourself up for success in the coming weeks and months?
Enjoy your weekend; I hope however you choose to spend it, you’re intentional about it.
“See” you Monday!
Posted in Leadership | Tagged Communication, Focus, Intentional, Leadership, Learning, Personal Growth, Planning, Relationships, Self-Awareness, Strategy | 5 Comments »
I first heard this story during the Chick-fil-A Leadercast in May 2012, and find it, again, in the Intentional Leadership booklet we are following, developed by Giant Impact.
It’s the story of Andy Grove, long-time CEO at Intel (by the way, Andy has a fascinating personal story; if you aren’t familiar with it, I encourage you to do a little research on him). There was a point in time when Andy asked these questions:
If a new leader walked into your role today with a fresh perspective and a full mandate to make changes, what strategic shifts would he or she make? What insights would be gained as he or she talked to your customers, employees, suppliers, and consultants?
It’s an interesting exercise and you may be quite surprised at what you come up with — and the freedom you feel when you give yourself permission to step outside your normal mode of operation and look at your world from a different perspective.
As you ask yourself these questions, and imagine the answers, note the responses in your journal.
Then, explore what might be keeping you from making the necessary changes? Would it be actual barriers, self-imposed constraints, or self-limiting beliefs?
What steps do you now need to take to ensure you are really listening to your employees, customers, suppliers, and consultants? How can you maintain that listening posture and incorporate what you hear into your planning.
Choose one change to start with, and move forward.
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I recently looked at a book called Essential Questions. It’s focused on school-aged children, and how we can teach them the essential questions that drive them to do deeper exploration of ideas, concepts, and lessons; the questions that get them in the critical thinking mode. I appreciate this approach, as I believe one of the best things we can do for our children is teach them how to think and to understand that there are many ways of arriving at a workable solution for any given problem. I think we do them a disservice when we teach them there is only one path to an answer and only one way to solve a problem. I think we fail them when we teach them to merely memorize material, as opposed to seeking a fuller understanding of the context, the issues, the players involved.
So it is with strategy and running a business. Asking the right questions can be critical to the success of an endeavor. Good questions cause us to think. Good questions hold us accountable, as they don’t allow us to take the path of least resistance. Good questions feed effective strategic planning.
Today, I encourage you to spend some time developing a dozen or so key questions you can you in strategic planning to help your team / organization stay focused and in alignment with your vision and goals. When you have them written down, share them with a few respected colleagues and ask them to edit or add to your work. Then, use them the next time you do any strategic planning.
Here are some examples to help you get started:
What are we trying to accomplish?
Are our current efforts allowing us to achieve the results we desire?
How would our replacements approach our future?
Who (or what organization) is achieving the results we want? What are they doing that is driving them to success?
What ideas / actions will move us closer to our vision?
What are our core competencies and how do we master them?
Use any or all of these as your base, or develop an entirely unique set, specific to your business. As you do your strategic planning over the next couple of years, continue to fine-tune your list, keeping the ones that work well and eliminating the ones that are not helpful, then add new questions that will better serve you?
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As you go about your daily business, it’s reasonable to assume that you and the members of your team / organization are coming up with a variety of ideas for new things you can do, or how you can do what you are already doing differently, in an effort to improve your products and services. What do you do with these ideas?
How can you manage them so you are working in a proactive posture, rather than a reactive posture?
Here’s one way of managing and sorting through them*:
Record all the current ideas that seem worth further consideration. Run several through this review process and prioritize the ones that pass.
Does the idea support your vision, goals, and values?
Does it fit with your core strengths?
Will the idea make your organization better? How?
To what extent is the organization willing to support the idea and dedicate resources to it?
Would you be personally willing to stake employees’ job and your own to bring the idea to fruition? Is it worth that level of risk?
At your next team meeting, set aside some time to discuss implementation of the most compelling ideas that made it through the review.
Where will it take your organization if you follow through and are successful?
*From Intentional Leadership booklet by Giant Impact.
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Have you given much thought the need to adjust your strategy to adapt to changing dynamics in your business environment? I have been, prompted by a recent call with one of my mentors who brought up Kodak.
You remember Kodak, don’t you? For a while, it was Eastman Kodak, then just Kodak, and anyone with a camera — the ones that require actual film — will remember Kodak. Back then, we had to go to the store to buy rolls of film; then, when we’d taken our pictures, we took them back to the store or a film shop and dropped off the role of film to be developed…which often took a week to 10 days! Eventually, someone invented the 1-hour photo developing system, and that revolutionized photography (for us amateurs, anyway), for a while. Then along came digital photography. No longer did you need to buy film or have it developed; now the market was all about memory cards for your camera, and the pixel capability of your camera.
Clearly, this new business model didn’t fit with Kodak’s old model — sell film, photo paper, and developing services. So, how did Kodak respond?
At one point, albeit way too late in the transformation of its industry, the former giant attempted to reposition itself as the Memories company, with print-at-home photo paper and systems…but it was too late. Kodak had missed the boat and ended up filing for Chapter 11 Reorganization.
Are you even aware of what Kodak is up to — if anything — these days? I have to admit, I wasn’t sure if the company was even in business any longer. Turns out, a simple search indicates it is. Today, “Kodak has transformed itself into a technology company focused on imaging for business.”
According to its web site,
“Kodak sharpened its focus to commercial markets as part of a 20-month Chapter 11 reorganization in which it successfully removed large legacy costs, streamlined a complex infrastructure, and exited or spun-off businesses – including its remaining consumer imaging and document imaging businesses – that were no longer core to its future. People around the world will continue to see the Kodak brand through its commercial businesses and licenses with select business partners.
As a result of its reorganization, Kodak today is leaner, financially stronger and ready to grow – poised to take advantage of the digital transition underway in packaging markets; the growing demand for graphic communications products and services in emerging markets; and dynamic growth in the market for printed electronics, sensors, fuel cells and other printed products with functions beyond visual communications.”
This is a prime example of the need to adapt one’s strategy as the dynamics of business and industry shift, and they are constantly shifting. The point: One must adapt to survive, and this is as true for you — as leaders — as it is for your organizations.
Today, spend some time reflecting on the changes you’ve experienced in your industry in the past few years. What were some of the most dramatic? And what adaptations were required for your organization to remain relevant?
Posted in Leadership | Tagged Change, Consequences, Intentional, Leadership, Learning, Planning, Reflection, Strategy, Taking action, Transformation | Leave a Comment »
Good morning and Happy Friday! It’s been a great week for me; I’ve been productive and focused and moving forward. This progress didn’t simply happen, and it certainly wasn’t immediate. It’s taken a lot of work over many days, weeks, months, and I am building momentum. It feels great! So nice to be centered in my purpose, operating in my passion zone, and focused on what matters most.
So, as I prepare for my weekend, I know exactly what I need to focus on: First, family time. I think we need a field trip to the farmer’s market or the WV Zoo (yes, I was surprised to discover this, but apparently there is a zoo in WV). Second, preparation for a couple of workshops I have booked mid-October — one focused on communication fundamentals and one on Laws of Growth and Laws of Leadership. Third, catch up on bookkeeping. Fourth, some reading, writing, and studying. Oh, and yoga!
Next week, I will spend time planning for an upcoming team building and communication workshop, hold several coaching appointments, and prepare for a new Mastermind Group on John Maxwell’s newest book (to be launched October 10th with a live webcast — more on this in a separate post) Sometimes You Win, Sometimes You Learn.
You know what’s coming next, right?
What’s your plan for the weekend?
Whom do you need to spend time with?
What do you need to do for yourself?
Do you need to focus on work, learning, projects, or rest?
What do you need to do to prepare yourself for success on Monday, in the coming weeks, and even months?
How much better do you feel when you are intentional about how you spend your weekend time and how you prepare for the coming days and weeks?
I would love to hear if you are following this practice and what affects it’s having on your life.
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