OnTrac Coaching

Talk to the owner of any small business or the CEO of a large company and they will tell you the main problem that consistently exists in business today– how to have a sound strategy along with the ability to execute it while dealing with all the surprises and interruptions inherent in business.

Both during the years I spent in the corporate world and the time I have spent consulting businesses, this same problem has existed. “When you’re in the heat of the fight, how do you remodel the aircraft carrier while landing and dispatching aircraft during a thunderstorm” I have concluded that to achieve success you must first have a strong strategy, then execute it relentlessly. One without the other will not produce sustainable results. You must have the ability to develop a strategy. Most businesses are started by tactical actions, or put differently, hard work. We habitually think in a tactical manner; we get up in the morning and put on our firefighting gear to prepare ourselves to slay the dragons that are thrown at us. Few businesses however, take time to get above the clouds and think in a strategic way about their businesses. Thinking strategically is not about addressing all the challenges but rather about seizing all the opportunities.

Unfortunately most businesses that develop a strategic vision rarely achieve results because they fail to learn how to relentlessly execute. Businesses must develop the capability to execute faster than their competitors and outpace the challenges that are thrown at them. An organization armed with a strong strategy that has learned to systematically execute it has a much better chance of sustainable excellence. All companies start small; successful growth comes from a balance of thinking strategically and executing relentlessly.

In his book “The 21 Irrefutable Laws of Leadership”, John Maxwell cites an opinion research survey which was conducted regarding desirable characteristics of a leader. In this survey they found that, overwhelmingly, the character trait that is most desired is “Leads by Example”. We look to our leaders in our companies, communities and government to lead with the highest integrity. We want them to possess the qualities that we sometimes fail to have. But a leader must be able to lead himself before he can lead others. In this past week in our nation, we had an example of a failure of leadership.

Upon a building wave of negative opinion and pressure brought forth by editorials and blogs, Sen. Tom Daschle made the decision to withdraw his nomination for Secretary of Health and Human Services. He did the right thing. But should there have ever been any doubt what was the “right thing to do” ? This is not an endorsement or a criticism of our current president, but rather, as I see it, an event we can use as an example of a failure in leadership . If the president wants to polish the image of politics and raise the bar in Washington, then as soon as he became aware of Senator Daschle’s tax problems the president should have asked for his withdrawal. Too many times we overlook the integrity of a leader in favor of the technical ability of the individual to get the job done. This is why leadership eventually fails. The backbone of true leadership is integrity. In a nutshell, we are crying out for this quality in our leaders but we have become accustomed to settling for less as we prevail in a “win at all costs” culture. In our companies we are willing to overlook integrity, favoring the technical ability of the individual because “he can get the job done” or “she can generate profits”.

There is no such thing as “kinda having integrity”. You either have it or you don’t. The type of leaders we are looking for today are those that are equipped to” lead by example”; said differently “Walk the talk”.

Ralph Waldo Emerson said it best; “What you do speaks so loud that I cannot hear what you say”.

When the economy gets tough, we all have a tendency to want to leave the control room and go down and man the guns. We put our strategic hats away and become totally tactical in our approach. But many businesses are tactical all the time and owners wonder why the business is not growing or feel like they are not getting ahead. Being only tactical can lead to some real problems in your business. Many of us gravitate to working in our business because that’s what we know, but it is critical that we work on our business.

If you are not leading in your business, then who is? Ask yourself if you see the big picture and know where you are going, or are you the top firefighter, addressing all the problems that come at you but not really working in any strategic direction.

Are you thinking like the CEO of your business or are you concentrating on the daily to-do list, not taking the long view of the industry you’re in or how your business should look in the future. Have you developed systems that run the business and you manage the exceptions, or are the exceptions the rule and they are managing you?

Do you create an annual business plan and dedicate yourself to working the plan? Or are you waiting to see what your business will look like at the end of the year. Are you designing what your business will be in five years, or settling for the default of “It will be whatever it turns out to be?”

You have heard this a million times” You must work on your business as much as you work in your business. Where are you spending most of your time?

On August 15th 1931 in Omaha during the deepest days of the great depression, the Union State Bank closed its doors for good. Like many others at the time, a young Howard Buffet lost his job and his life savings. He had a family with two kids to feed and little opportunity of finding another job. Even in his despair he focused on opportunities, developed a plan and implemented it. Together with two partners he formed a stock brokerage firm. It was a bold decision to open such a business when no one wanted to buy stocks, but he recognized people’s need for secure investments. That first month he generated $400 in commissions. In those darkest days a successful company was launched. Howard Buffet was the father of Warren Buffet, the “Oracle of Omaha”..

2009 is upon us. While the business climate appears bleak, there exists many opportunities for your business, if you are willing to look.

Opportunities:

Research tells us that we close our minds when under stress and pull the same levers we have in the past. It’s time to open your mind and pull new levers. Ask yourself, in this downturn what opportunities are there waiting for me?

Some of your competitors unfortunately may have gone out of business. Who is taking care of their customers? Is there star talent available that can enhance your team? Are there acquisitions or mergers that can be made? Are there bargains out there that can add to your core business? Maybe sales are down; can you focus on market share? What are new ways you can add value and improve loyalty in your existing customers?

What voids have been created in this new market place? What services or products will be in demand when the business climate improves? Businesses that are predicted to thrive on the upturn (and it will turn up!) include financial, health, recreational, leisure and home services. The green movement and energy conservation are predicted to explode. What holes can you fill? Are you ready to seize the opportunity?

Finally, with all that precipitated this economic downturn, consumers are going to put a high value on transacting with businesses exhibiting the highest degree of integrity in the market place. Is that you?

Have you ever wondered why some businesses are more successful than others? Even those selling the exact same products or services? Or why some businesses seem to accomplish more and seem more in control than others. Or do you know people that get three times more done than others?

In his book “the 21 irrefutable Laws of leadership John Maxwell quotes ‘Champions are only exposed in the ring they are not made there”. What he is referencing here is champions have put in the work outside the ring to help them assure the position of champion. They have realized that in order to perform with flawless execution in the game it takes an unwavering dedication outside of the game .It all starts with discipline.

There are literally thousands of tips on how to be successful, but every one of them starts with the commitment to discipline. Successful people and companies know that they must identify the truly important things that need to be accomplished, develop a plan on how to get them done, and then dedicate to doing these things in order to achieve success. They must develop the disciplines in their companies and their lives that will result in accomplishing the goals they have identified. They also realize that they cannot run a disciplined business without the leaders leading a disciplined life.

We are in a new year where countless individuals are struggling with New Year’s resolutions and businesses and companies are formulating business plans for this year yet only a small percentage will achieve those goals. Research shows year after year that less than 3% of individuals keep their resolutions and less than 10% of companies that formulate a strategic plan every successfully implement the plan. And the main reason is the failure to dedicate to the important and then develop the disciplines to achieve the desired changes needed in your business.

You feel good that you have a plan to go forward but it will all be in vain if the needed disciplines are not put in place so that plans can be implemented and goals achieved. Remember, if we go through the New Year doing things the same way we did last year we can count on the same results.