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Types of Businesses

“Ouch”

“Ho-Hum”

“Gee-Whiz”

“WOW”

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

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WOW BusinessesWhat 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

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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

The First PPerpetual Planning

Steps1-10

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Personal Vision

• 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

Perpetual Planning Process

PERSONAL VISION

ORGANIZATIONAL VISION

STRATEGIC AND OPERATING PLANS

In Sync

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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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• Define Reality

• Focus your business against defined reality

• Determine Skills / Competencies required for success

Adapted from Peter DruckerTheory of the Business

Pub. date: Sep,1994

Simplified Planning Model

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Stra

tegic

Con

tinu

ous

Imp

rovem

ent

Vision(The outcome we will achieve)

(What we do, products offered, customers served, needs met)

Mission

Planning

Setting Direction

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11

• 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

Why Plans Fail

Courtesy of Dave Sullivan© 2013, Shamrock Group, Inc.

The Second “P”People

– Alfred S. Chandler

“Structure Follows Strategy.”

Steps11-17

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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

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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

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People Development

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

Who is Responsible?

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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

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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

Your Impact on Culture

Values

Your Actual Behavior

Behaviors as perceived by others

Behaviors as perceived by you

Leadership Behavior

Courtesy of Dr. Lee Ginsburg and Shamrock Group, Inc

GAP

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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

The Third “P”Processes

Step18

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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

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• 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

WOW Processes

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Control Process

• Set performance standards

• Consistently monitor and measure performance

• Take appropriate action

• Recognize / reward achievement – good and bad

The Fourth “P”Performetrics

Steps19-23

PATH TO“WOW”

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Performetrics

• Focus on outcomes – not activities

• Monitor performance versus plan

• Anticipate trends that will impact the business

• Link empowerment and accountability to performance

“Things that get measured are the things that get done.” – Michael LeBouef

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• Job descriptions

• Dashboards

• Balanced scorecard

• ABC Accounting

• McKinsey 7-S

• ISO

• Action plans

Performetrics Examples

The tools used don’t matter – using them consistently to improve the business does

The Fifth “P”Passion

Steps1-23

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When you bring together passion and vision,

anything is possible

Inspiration

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• 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

Passion

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• 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

Passionate Leadership –– Getting to WOW levels

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• 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

Passionate Leadership –– Staying at WOW levels

• It begins with your personal vision

• Continually• Reassess• Revise• Repeat

• Move closer to “WOW” status with each cycle

PATH TO

“WOW”Just Follow The Path!