Posts Tagged ‘strategy execution’

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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In 100 Words: Focus on Process

Tuesday, May 1st, 2012 by AdvisorCatalyst

Success derives from two components: strategy and execution.  Notice what’s missing from the list: results.

Results tell if you’ve been successful, but they don’t show how to be successful.  In fact, poor results may occur despite the best possible decision based on what was known at the time.  Similarly, great results might occur in spite of poor decision making.

The real key to understanding success is found not in the decisions, but in the decision making process.  Regardless of outcome, get in the habit of examining your process of strategic thinking and strategy execution.  Refining that will lead to success.

“Whenever someone says, ‘We have the right strategy, we just need to execute better,’ I make sure to take an extra-close look at the strategy.”  (Phil Rosenzweig)

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Press the Initiative

Thursday, June 23rd, 2011 by AdvisorCatalyst

At the October 2007 World Business Forum in New York, Garry Kasparov, the great world chess champion, noted that a player attacks in two ways. The first, “direct assault,” occurs when he is backed into a position he doesn’t like. Those who succeed are admired for their resilience and celebrated as a “come from behind” story. The second, which Kasparov called “creating and maintaining the initiative,” is preemptive in nature, putting the player in a position of leadership and control. It may lack the excitement of a surprise victory, but the persistent mastery is admired by all.

Many market leaders were not the original pioneers of their product. Examples include Boeing, Hewlett Packard, Google, and Apple’s iPod. In each of these situations, the market leaders outperformed the pioneers because they pressed the initiative. They continually improved, invested in people and research, and developed a strong organizational vision. Meanwhile, the pioneers lost an opportunity, not because they started badly, but because they stopped pressing.

How is your organization’s discipline in strategy execution? Create the initiative, and then keep pressing.

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In 100 Words: Press the Initiative

Thursday, June 23rd, 2011 by AdvisorCatalyst

World chess champion Garry Kasparov attacks in two ways: “direct assault” and “creating and maintaining the initiative.” The latter is preemptive, methodically putting the player in a position of leadership and control.

Many market leaders, including Boeing, Google, and Apple’s iPod, were not the pioneers of their industry. They simply outperformed the pioneers by pressing the initiative – continually improving, investing in people and research, and developing strong organizational vision. Meanwhile, the pioneers lost an opportunity, not because they started badly, but because they stopped pressing.

How is your organization’s discipline in strategy execution? Create the initiative, and then keep pressing.

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Advisor Power Question: “What’s the Next Action?”

Friday, August 20th, 2010 by AdvisorCatalyst

A CEO recently contacted me to learn more about our strategy execution system. Early in the conversation, I realized that he was actually looking for a system to manage his own time, projects, and work flow. Of course, the disciplines of our strategy execution process are as applicable to individuals as they are to organizations: long-term, quarterly, weekly, and daily priorities. (Read more about setting daily priorities.) Having established that, I recommended this CEO read Getting Things Done by David Allen.

If you’re not familiar with this book, read it. Allen lays out a 5-stage system for managing workflow. I have clients who have used this book to completely change the information storage systems throughout their organizations with great results.

In addition to that system, Allen drills the importance of the phrase, “What’s the next action?” I have found this to be a powerful question for driving clarity in strategic conversations with my clients. Allen writes:

“I am frequently asked to facilitate meetings. I’ve learned the hard way that no matter where we are in the conversation, twenty minutes before the agreed end-time of the discussion I must force the question: “So what’s the next action here?” In my experience, there is usually twenty minutes’ worth of clarifying (and sometimes tough decisions) still required to come up with an answer.”

As you work with clients, ask yourself two questions: (1) Is there a decision to come out of this conversation? and (2) What’s the next action? My own experience confirms that of David Allen; there is at least twenty minutes worth of conversation yet to take place.

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