Most of the business owners I work with start out with one huge complaint – they spend much of their time putting out fires, managing people issues, and feeling out of control. They are generally pretty frustrated with the fact that they aren’t getting the results they think they should be getting in their company. Imagine their surprise when I tell them that they likely aren’t managing for results.
Managing for results involved focusing all of the efforts of the company on a select, specific, set of targets. The CEO and the executive team determine what key indicators they want to measure in a given year. The chosen targets are goals that if achieved, will move the company forward. Once the key indicators are identified, they are shared with the entire team, so that everyone knows what they are trying to achieve in the coming year. Now, while this might sound simplistic, in reality, not many companies actually take the time to set targets and then cascade those down to the people who are responsible for hitting those goals.
When everyone in the company knows exactly what measures they need to achieve, and more importantly, the part that each individual plays in reaching those targets, they can then focus in on the specific tasks and activities that will enable them to hit their goals.
Once each person on the team is focused on tracking to their goals, the CEO has the ability to focus on those issues that specifically need their attention. The team manages their activities towards hitting each of the targets they own. The key here is tracking to these goals monthly, and coming together as a team on a monthly basis to track progress. Any roadblocks or major issues are discussed and plans are tweaked as necessary to stay on target.
When the company is managing for results, it has stronger alignment, communication is increased, and the CEO can spend time on the strategic issues that really need their focus. If you’d like to learn more about managing for results in your company, give me a call. I’d like to help you focus and thrive in your business.
Also watch my video on this subject on Elite Experts Network.
