Xavier Lederer provides key steps on prioritization and action.
‘The essence of strategy is choosing what not to do.’– Michael Porter
“I don’t have enough time in a day to work on the most important things!” I regularly hear CEOs complain. We all have a tendency to jump on the most urgent problems – because they are urgent and also because, let’s face it: we are addicted to fixing problems.
Why priorities matter – pebbles vs. rocks
The issue is: when we focus on fighting fires we don’t work on what really helps move our business forward. A year quickly goes by and we realize that we have missed some of our goals.
A key to breaking this vicious circle is to agree on 3 to 5 quarterly priorities with your leadership team. The key question is: which ones have the biggest impact on your company in order to reach your 1-year goal and move towards your 3-year goals? There are hundreds of things that you need or want to do to move your company forward. The key is to prioritize and to find the smaller number of possible activities that will make the biggest difference.
This short video with Stephen Covey is about picking what is important first. If you focus on the pebbles first (i.e. the daily fires), you will never make true progress towards your goals. It is only by putting the rocks in first, your 3-5 strategic priorities, that you can build sustainable, profitable growth. Debating annual or quarterly priorities is the opportunity for your leadership team to agree on what is important (and what your team should focus on) vs. what is urgent. By building an execution plan around your priorities and committing time to them, you can regain control over your calendar – instead of letting your inbox control your time.
Key points include:
- Defining priorities
- Results focused
Read the full article, How To Set Priorities That Move The Needle, on AmbroseGrowth.com