HOW TO MANAGE WINNING TEAMS – Created with Haiku Deck, presentation software that inspires
Leading teams that are clear about what needs to be done, who play full out and achieve their goals is every leaders dream. While most business schools tend to focus on strategy, entrepreneurs really struggle with execution. Management guru, Ram Charan says that 70% of strategic initiatives fail because of poor execution.
So why is executing difficult? Execution is difficult because there is a battle between the URGENT vs IMPORTANT things. Let’s look at these in more detail:
Urgent work is the daily work – operations, support, sales etc. Urgent things drive us. We tend to react to these things. Onthe other hand important things are our goals – Where we want to be. This is what we drive. Unfortunately we are busy being busy. Urgent work always wins over important, unless we develop some key disciplines to help us execute.
There are 4 tried and tested disciplines to great execution that have been identified by authors Chris McChesney, Sean Covey & Jim Hulling in their excellent book: “The Four Disciplines of Execution”
- Focus on the Wildly Important Goal (WIG)
- Act on the lead measure
- Create a compelling score board
- Cadence of Accountability
Determine your WIG
In determining your WIG, don’t ask “What’s most important?” Instead, begin by asking “If every other area of our operation remained at its current level of performance, what is the one area where change would have the greatest impact?”
Learn to say NO – While good companies and teams are good at saying no to bad ideas they lack the discipline to say “No” to good ideas. There are always more good ideas than capacity to EXECUTE. As Jim Collins says the enemy of great is good. Instead we need to follow Robert Plank’s advice and “Do Less and finish more”.
Focus on one to two things in the next 60-90 days and execute them with EXCELLENCE! Do the Basics Brilliantly!
Act on the lead measure.
Focus on the Income Producing Activities (IPAs). Lag Measure is the end result. Lead measures are activities that we can influence and predict how the lag measure will move.
Let’s look at an example of Weight Loss…The Lag measure is the weight you want to be. That’s easy to measure – Just get on the scales and you have the answer in 2 seconds. But not much happens when you focus on the lag measure, instead you need to focus on the lead measure. Where entrepreneurs tend to go wrong is figuring out which lead measures to act on. The lead measure tends to be more difficult to measure.
In this example of weight loss 2 lead measures can be used:
Over time activity on the lead measures will have a positive impact on your lag measure.
Compelling Score Board
Once you have the lag & lead measures then make a compelling score board. Employees and team members feel most engaged when they feel that they are winning. The score board needs to be simple, have the lead measures and the lag measure. It should be easy to see whether the team is winning or not. Finally the score board needs to be in a very prominent place in the office so everyone is able to see.
In the above scoreboard at the BNI India office – the lag indicator – the number of members and chapters was in the middle. On the right we were tracking the lead measure of number of new chapters under formation and how many new members had signed up for each chapter across the country. On the left we had another lead measure of how many renewals were due for the coming month and the current chapter size.
Develop a cadence of accountability:
Finally discipline four brings the first three together. Have a 20 minute weekly accountability meeting. Everyone prepares with these three agenda points.They are ready with what 2-3 things they are going to do to move the lead measure.
The leader starts first. It shows that they are walking the talk.
1. Account: Report on commitments. “I committed to make a personal call to three customers who gave us lower scores. I did, and here’s what I learned …”
2. Review the scoreboard: Learn from successes and failures. “Our lag measure is green, but we’ve got a challenge with one of our lead measures that just fell to yellow. Here’s what happened …”.
3. Plan: Clear the path and make new commitments. “I’ll meet with Bob on our numbers and come back next week with at least three ideas for helping us improve.”
For example one of your goals this quarter is to generate 3 crores of new revenue. This is the Lag measure. The lead measures that can impact the business generation are:
1. # of Qualified New Prospects that you have contacted.
2. # of existing customers you have met or called today to upsell.
3. # of people on your database or social media channels.
Having a weekly score board of these 3 measures and focussing activities to move these 3 will start to move the lag indicator in time.