Building The Results You Deserve: 4 Steps
Does the following sound familiar?
- Your financial results are below your targets
- Your cash flow is pinched and your bank isn’t encouraging you to expand your line of credit
- Your team meeting seems rudderless, with little accountability for poor results
- There is little ownership of the business plan you though everyone had bought in to and were advancing
This is not an uncommon plight for many CEOs and owners. It’s impossible to simply flick the switch “on,” but it’s very possible to build a stronger foundation for future success with a few deliberate and disciplined actions:
- Since performance expectations start at the top, review your own. Either consider them with an appropriate person at your level or a consultant/coach if you are a sole owner. You can also invite input from a trusted supervisor, if you want to encourage this level of transparency for your direct reports.
- Review the performance expectations for each of your direct reports on a 1:1 basis, with an emphasis on their understanding and your clarification and direction, as necessary. This may lead to more specific discussion of plans and projects already underway, or in the offing. Leave no room for misunderstanding and share your conviction that if your direct report is unclear about an expectation, there is a mutual responsibility to seek clarification.
- In your team meeting, make sure that everyone understands the numbers, provide financial literacy education, as necessary, and focus on the dashboard of financial and other indicators consistent with your expectations.
- Insist that each team meeting have a specific agenda and specific desired outcomes.
You are the architect of this building effort and responsible for the initial structural integrity. If you act in the spirit of a good builder you will create a solid company that can respond to challenges of tough markets. The alternative is a shaky foundation with a leaky roof.