5 Ways To Dramatically Improve Your Execution Capability

How strong is your execution capability? It's important to be able to implement new ideas but many struggle to do so. Let me show you how to be great at it! 5WaysToDramaticallyImproveYourExecutionCapability BYbrett Longtermstrategiesforsuccess It’softensaidthatbusinessis10%strategyand90%executionandIcertainlybelievethistobetrue.Aspartofyourbusinesseducationit’simportanttoreadwidely,listentobusinessexperts(insideandoutsideoftheprofession)andtokeepabsorbingnewinformation.However,allthatreading,listeningandabsorbingneedstobesynthesisedintoactualideasthatyoucanexecute. Sohowdoyouimproveyourexecutionskills? Herearefivestepsyoucantake: 1.MakeDecisions Goodbusinessownersmakedecisions.Theymaynotalwaysberight,buttheycontinuetomakethemanyway.Inmyexperienceit’sbettertomakeamistakeandknowit’swrong,thantoforeverprocrastinateandtheorisewithouttakingaction. Yes,youshouldtakesometimetoconsideradecisionordosomeresearch,butdon’ttaketoolong.Venturecapitalfirmsbackideasknowingthattheoriginalbusinessplanmightbechangedtwoorthreetimesasthenewventurefindsitsway. Businessisasmallseriesofexperiments,manyofwhichendinfailure;that’sjusthowitis. 2.Holdweeklymeetingsthatresolveissues Somefirmsholdweeklymeetings,othersdon’t.However,ifyouwanttoexecutenewideassuccessfully,yourleadershipteamneedstobemeetingweeklyandactuallyresolvingissuesthatariseinthebusiness. Thereasonsomefirmsdon’tholdweeklymeetingsisthattheirmeetingsdon’teverseemtoachieveanything.It’sthedisciplineandstructureoftheweeklymeetingthatallowsyoutoresolveissues.ThebestprocessI’veseenformeetingsiscontainedinGinoWickman’sbookTraction:GetaGriponYourBusiness. Grabacopyandreadit,ifyouhaven’talready. Whenanissueisraisedatyourweeklymeeting,askyourself“Isthistherealissue?” Rarelyistheissuepresentedtherealissueyouneedtoresolve.Oftenit’sjustasymptom.Byaskingyourselfthisquestionyou’llfindthequalityofyourensuingdiscussionandsolutionsimproveoutofsight. 3.Havestrictquarterlyobjectives Aspartofyourexecutionskillsetyouneedtobesettingquarterlygoalsthatmoveyourbusinessforward.Ideallyyouwantbetweenthreeandsevenofthesegoals(andremember,lessismore). Oncethesegoalsareset,it’sessentialthattheybecomeyourabsolutetoppriorityforthenext90days.Atyourweeklymeetings,thestatusofthesegoalsshouldbeoneofyourkeydiscussionpoints. It’sveryeasytogetsidetrackedeachweekwithissuesthatappeartobevitallyimportant.Howeverbouncingfromissuetoissueisamajorblockagetoeffectiveexecution;don’tdoit.Stayfocusedonyourquarterlyobjectivesandsimplyrecordanynewissuesarisingonaseparatelistforyoutoconsiderwhenyoucan.Thatwaytheissueiscapturedandnotforgotten,butdoesn’tdominateproceedings. 4.Makelong-termdecisions Anotherkeytobetterexecutionistryingtomakelong-termdecisions.It’salltooeasytobecometargetfocused;tryingtohittheweekly,monthlyandquarterlyfinancialtargetsyou’vesetforyourselfandthebusiness.Constantshort-termdecisionmakingleadstoshort-termresults,butcreatesnofoundationsforfutureimprovement. Anexample: Youtrytoextractsomeinformationfromyourbackofficesystem,butthereportisuselessbecausethedata you’ve capturedisnogood.Clearly,youcanjustfindaworkaroundforthisproblemandwithpressuretogeta rangeofothertime-sensitiveworkdone,it’seasytobelievethisistherightcall.However,ifyouweretakinglong-termdecisions,you’didentifytherealissueandcreateaplantoaddressit.Intwelvemonthstimethatlong-termdecisionseesyourbusinessinmuchbettershape.Itmaynotseemlikeabigdecisionatthetime,butIbelieveitis. 5.Getsomeoutsideaccountability Forsomereasonwe’reallprettyadeptatidentifyingeveryoneelse’sissues,butnotourown.Sothefinalstepinimprovingyourexecutionistogetsomeoutsideaccountability.Oftenthiswillbeanexternalpersonwhocansitonyourboardorattendregularstrategymeetingstoholdyou(theowner),accountableforwhatyousaidyouwoulddo. Noonelikestoturnupandsaytheyhaven’tdonewhattheypromised,sothissimplestepcanreallymakeadifferencetoyourexecutionskills. Hireanon-executiveifyoucanaffordit,orjustaskafriend,businessacquaintance,oryourspousetoattendkeymeetingsandhelpkeepsomeaccountability. Iplaythenon-execroleforsomefirmsandboththey,andI,believethatitreallyhelpskeepthefocus. Tryactioningthesefivestepsandwatchyourresultsandyoursatisfactionatworkmakeabigimprovement. Rarelyistheissuepresentingtheoneyouneedtoresolve.Askyourself ‘what’stherealissue?’  FacebookTwitterPinterestLinkedIn FirstName*EmailAddress* HiddenReceiveNewsletters Δ BRETTDAVIDSON WhenyouworkwithFPAdvanceyouworkwithme,BrettDavidson,directly. Mymottois‘advisebetter,livebetter’andIpracticewhatIpreach.I’mstraighttalkingandgettotheheartofanissuequickly.There’snobeatingaboutthebush,justafocusonhelpingthingsimprove. Askmyclients–whatIteachworks. 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