Today's post is about one of my all-time favorite business books. As a leader in my previous corporate executive roles it was on my required reading list for my entire management staff. Now and then I will post here and discuss how these books have an application to our business and how to specifically implement pieces of the book if appropriate.
This post is about the book Execution : The Discipline of Getting Things Done.
Written by Ram Charan , executive coach and noted expert on business strategy and Larry Bossidy , Chairman of Honeywell International, and prior to this role he is widely credited with guiding Allied Signal to one of the world's most admired companies and producing 31 consecutive quarters of EPS growth in excess of 13%!
Business research shows that companies that outperformed their competition excelled at four primary business practices, Execution, Strategy, Culture and Structure. This book is the definitive bible on excelling at the key business practice of Execution. It is not only the biggest issue facing business today but unlike other management disciplines it really has not been explained satisfactorily. Stop and think a moment. Strategy - so much information on strategy exists it is no longer a challenge. Google both Business strategy and business execution and you will see there are ten times as many results for strategy. Similar results for Leadership development, Innovation, Culture - endless information.
Mentioned over and over throughout the book - the difference between a company and its competitor is the ability to execute. If your competitors are executing better than you are, they are beating you in the here and now and if that's happening you won't even get the time to see if an elaborate strategy plays out.
Execution - Getting Things Done is the biggest unaddressed issue in the business world today. It's absence is the biggest single obstacle to success and the cause of most disappointments mistakenly attributed to other causes. Here is the fundamental problem: people think of executing as the details and tactics of a business and leaders delegate this while they focus on the "bigger issues" rather than getting deeply engaged in the process of execution as a discipline, building systems and embedding it in the strategy, the goals and the culture!
Although I may refer to Execution as Getting Things Done it is more than that it is a set of behaviors, processes and techniques that you must master to gain a competitive advantage! A system of getting things done through, questioning, analysis, documentation and follow through. With the tragic and tumultuous events unfolding right now on Wall Street and Main Street many companies will have to tear up their operating plans, prepare new ones and fill gaps in revenue and make major cost adjustments. the winners that emerge from this will be the companies that adjusted quickly, built clear plans and then followed through and completed those plans!
Whats is this all about and how in the world does it apply to a home based business you may be asking. I would propose to you it is not the what of what you do that drives your success such as your strategy on lead generation and customer service, but more precisely how you execute and most importantly that you get things done and completed.
Ask yourself:
Do you just jump in and start working on whatever is in front of you day-to-day, maybe reading your goals daily to build the power of attraction and feel that is what it is about or do you follow a clearly documented daily process, do you document what you do, how you did it and then track and work your way through the steps - sounds simple - eh - maybe even a bit boring given the attention out there to "lifestyle" in this business.
Do you have numerous unfinished projects on your desk because you are working on what you determined today is urgent.
Be real, be authentic, this business involves detailed work, attention to detail and you have to do it OR find the right people who can do it for you and get the work done. Don't accept the excuse of I'm too busy to work on that.
Let's look briefly at the Building blocks of execution as outlined by Charan and Bossidy:
- Building Block One: The leader's seven essential behaviors
- Building Block Two: Creating the framework for cultural change
- Building Block Three: Have the right people in the right place
In this day and age of network marketing and home-based businesses those building blocks at first glance may seem to not apply. Your challenge is to read the book and look for ways to apply the foundation building blocks to your home based business.
- How to develop leadership behavior for your team
- How to build a culture for your team and
- Getting the right people in the right place
Spend a few minutes and focus on the book ending conclusion LETTER TO A NEW LEADER.
Outstanding points and questions:
- You will be pulled in every direction as people want you to... spend time here, try this, participate in that... BUT running your processes must be at the top of your priority list.
- Are your resources allocated in proportion to opportunities or does every opportunity get some resources and none get enough? is your plan straightforward,
concise and easily understood. You have a budget, but do you have the action plan the budget should represent? - Make sure you and your team understand your customers! Understanding your customers is the base of business success.
- Look for ways to implement initiatives in your business to improve productivity - we all have only 24 hours in a day.
- Maintain your intellectual honesty so that you are always realistic. See things as they are not just the way you want them to be. Build bridges and plans to get there!
Feel free to visit my website and review my current list of favorite books.
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