The 10 Questions You Should Never Stop Asking
Here is an excellent overview in Forbes for those looking for “the easy answers to business success.” Not that implementing the advice is easy!
But if you can address all these questions, you will improve the success of your organization. More importantly, if you’re not regularly exploring these issues, any semblance of success you may be experiencing is fleeting and cannot be sustained.
So what are the questions?
- What is our purpose for existing? (Also known as Mission…)
- Who is our target customer? (And that doesn’t mean everyone who ever could potentially want or be persuaded to buy your goods or services. Who is your prototypical customer/client?)
- Why does anyone need what we’re selling? (And take off those rose-colored glasses before answering this one. Please?)
- If there is a need, is it enough to support a profitable business? (I contend that “need” isn’t enough – they must want your products or services!)
- What are our competitors up to? (Don’t skate by this one…)
- Can you reduce expenses–without harming the product? (And who can’t?)
- Do we have the right leadership? (Just because you started the organization doesn’t mean you’re its best leader forever. Is it time to consider other options and focus on your highest and best purpose?)
- Do we have the right employees? (And NOW is the right time to address this. Today.)
- How will we continue to drive revenue? (Notice the verb. Revenue doesn’t wander in the door when no one is looking.)
- How are your employees holding up? (“MBWA” was popular a few years back for good reason. When a “leader” just sits in the corner office and isn’t visible to employees – not just by walking around but by engaging – it can spell disaster.)
What’s your score on these?
written by Nancy Chorpenning
\\ tags: business success, Leadership, Management, profitability
On Friday, I attended an excellent seminar on leadership offered by Jenny Whitener, Chief Executive of Bridge Consulting International and alumna of Cap Gemini Ernst & Young. Among the many fascinating learnings she shared was a simple and elegant list of what “followers most admire in their leaders.” According to Kouzes and Posner in their book The Leadership Challenge:
- Honesty
- A Sense of Looking Forward
- Inspiration
- Competence
Does this constellation seem surprising to you? Are any of them “optional” in an effective leader? What other attributes and qualities are essential in the best leaders you’ve known? Continue reading »
written by Nancy Chorpenning
\\ tags: Change Management, Leadership
Plotting a Smooth Course When You Take the Helm – WSJ.com
One of our clients is adding a COO to his firm, someone to focus on running the business while he concentrates on being the “visionary” and the face of the firm. So this Wall Street Journal article with tips for incoming CEOs to smooth the transition, it caught my eye.
Sure enough, here are a few quick (but not easy…) pragmatic and helpful recommendations from an array of experienced consultants. It occurs to me that these are good reminders for ANY business head, especially during times such as these when they may need to act more decisively than usual.
Resist the pressure/temptation to be a “know-it-all”
Find some people you really trust to give you the lay of the land
Consider worst-case scenarios with cash flow, aligning costs with revenues
Set an agenda, and be decisive – demonstrate leadership
Communicate constantly – it may feel like over-communicating, but do it anyway
These times of uncertainty (and enhanced creativity!) offer an opportunity to introduce the kind of change that more stable times don’t afford. Leadership will count more than ever. Don’t blow it!
written by Nancy Chorpenning
\\ tags: Add new tag, Change Management, Leadership, Management
Regardless of your political views, this brief article in Business Week by Jack and Suzy Welch reflects on how a few key leadership principles relentlessly pursued by Barack Obama spelled the difference in his campaign’s success. The take-away is that CEOs–whether large or small–can apply these lessons to lead their businesses to greater results.
written by Charlie
\\ tags: Leadership, Management, Organizational Development
Crisis Advice from GE’s Immelt – Harvard Business Online’s HBR Editors’ Blog:
“Keep your company safe but keep building the future”
Terrific brief article from GE’s CEO Immelt about Leadership and Change he teaches his management teams. While he acknowledges that adjustment is necessary in light of current economic troubles, it doesn’t mean turning from growth.
Immelt had some final advice for leaders, which struck me as especially valuable in tough times:
Be decisive: Make decisions, including some occasions when you don’t have perfect information.
Continue reading »
written by Nancy Chorpenning
\\ tags: Change Management, growth, Leadership
