The hectic pace of the holiday season often challenges
our ability to stay balanced and effective. I can
speak from experience! This year, I was invited to seven
parties. It is very tempting to say "YES" to every
one--but I will pay the price if I do!
If we aren't selective, we soon wonder
whatever happened to December. The anticipation of the holiday
becomes more memorable than the actual experience.
For years, I have seen similar reactions
from companies when they fail to bring their growth plans
to fruition. Many of them end up gathering dust on the shelf--or
sit "unwrapped" under the Christmas tree. I firmly
believe it's mostly because most current planning methods
reward the wrong things: complexity and busy work.
Before you can truly energize
your 2009 growth strategy, you have to learn how to selectively
focus your energy. Start by avoiding traditional ways of
planning...
In the traditional business setting, planning
starts innocently enough. A bunch of smart executives will
assign someone to select a gorgeous resort. They block off
three days for a strategic planning session. Some facilitator
waltzes in with only the best of intentions.
Then something happens. People get distracted.
Their "crackberries" are buzzing, vibrating, and
pulling them in other directions. These distractions—often
shrouded as emergencies and crises—consume them. "Time
deficiency syndrome" (TDS) has officially set in.
Hard-working participants soon feel demoralized.
As the accountability fades and the CEO allows the plan
to calcify, so goes the enthusiasm. Resignation and apathy
set in. The plan has little chance of succeeding.
TDS is a silent disease. It
spreads quickly and consumes excessive resources. If it
has infected you, then your natural response is to throw
up your hands and say; "this is too much work to handle,
so I won't do any of my items on the list."
Perhaps you have experienced TDS across
your company. It can be especially acute immediately following
an acquisition or another type of growth spurt.
TDS symptoms appear in many forms.
For example, you may live in a constant state of
panic or stress. Some of your executives may blame their
worry or foul mood on an ethereal being called "the
economy." This is just a professional, industry-accepted
term for "circumstances."
When you are infected with TDS, you also
tolerate poor paying clients and non-performing employees.
You may cling onto unreliable vendors or stodgy banking
relationships. You may have old assets that you keep forgetting
to retire. The list goes on.
At some point, the cost of holding onto
these costly resources and unprofessional relationships
will far exceed the cost and temporary hassle of releasing
them.
If TDS has infected your company,
try this antidote.
I guarantee that it will help you prioritize
activities that support your company's strengths and core
business--and eliminate the ones that do not.
* First, schedule at least 2 hours away
from your office. Find a quiet place. Turn off your electronic
equipment. If you want to, invite a few of your advisors
or executive team.
* Review and write down your vision and
values.
* Ask the following questions:
1. What measurable goals will help you realize your company
vision?
2. How will your clients benefit from that goal?
3. How will management benefit from it?
4. How will this accelerate growth and innovation?
5. What is the financial reward for investors? How will
it affect the bottom line?
6. What is the TOTAL benefit of pursuing that goal?
7. What is the cost of not doing it? What is the impact
on our investors, management, clients, and growth/innovation
engine?
8. What is the total estimated cost of implementing this
idea?
9. Who owns the action step? (they will develop the plan
to implement the idea, not you)
10. By when will it be completed?
11. What incremental resources are required? (e.g. software,
hardware, additional training, capital equipment, etc.)
12. What's the total return on investment for this idea?
Calculate ROI by using this formula: (Total Benefit in question
6 divided by Cost to Implement question 8 )
13. Based on our budget and funding availability, how do
we sequence our action steps with the highest ROI? (pick
the first five and see how far you get)
These 13 questions will help you determine
what activities are worth continuing in 2009. I guarantee
that you will no longer be consumed by TDS. I want to help
you immunize yourself against endless, self-sabotaging to-do
lists and busy work.
Now reward yourself by wrapping
that special gift, working on a worthwhile community project,
or scheduling that family outing. They reflect the true
meaning of the holidays, and are another effective TDS antidote.
P.S. You
just got a sneak preview of a chapter taken directly from
my upcoming book.
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