Time to Read – 5 Minutes
Time to Do – Slightly longer
The CEO Top Ten – Part Two
Here’s the number one, thank you to all the contributors to last week’s comments – It was nearly a record number!
1 ”Show me The Money!”
* Many of you got it – it’s all about money – without money you can’t employ people, serve customers (you won’t have any) or be a force for good (as you won’t exist).
* It’s all about money – and too many leaders and organisations realise this when they haven’t got enough – so, everything you do must relate to making and saving money, or don’t do it.
* This includes all sectors – private, listed, public and the third sector – make more money than you spend = happiness, otherwise…
I did say I would give some how-tos for the top ten – so here goes…
10 Meetings – personally and within their organisations – too many, too long, too expensive.
* Ensure the meeting has a clear outcome, and every attendee justifies attendance.
* Consensus never works – ensure everyone has a chance to speak on a subject then make a true decision (i.e. you won’t go back on it) – by taking a vote, or by Chairperson deciding or the expert present deciding.
* Everyone must get to the point, and fast, and bring truth in the room. Target to reduce your meeting times by 50%, and number of meetings by 50%
9 Silos – Wanting their directors to think horizontally across the organisation, not just living in their own “strategic business unit.”
* All share how their area is helping achieve the bigger company outcomes.
* Allocate some actions not according to function e.g. give an HR action to IT.
* Reward people on how much they make and save money – measurable (the no.1 way of making money is attracting more customers at the right prices, and saving money is reducing and simplifying your processes, and removing dead wood).
8 Compliance – staying out or prison. What do they need to do, without dedicating so much energy, resource and time that they can’t get on with the day job.
* Ensure your compliance people speak in clear, understandable business language.
* Your compliance leaders must form informal relationships with governance bodies.
* Do what you need to do, and no more.
7 Projects – Too many (most CEO’s felt their organisations were doing far too many things), with too little accountability, prioritisation or realisation of benefits.
* A clear single point of ownership for every project – responsible for delivering the project and realising the benefits in hard financial terms.
* Prioritise in Groups – One Business Critical, Two Business Important, Three Others – stop doing all under category three (target reduce projects by 25% minimum).
* Have one person oversee all projects (and he/she does not get involved in doing them). They need to be a cross between a Saint and a Rottweiler.
6 Social Media – What should we be doing to use it as a competitive advantage?
* Forget “Social Media” as an industry in its own right and focus on your what you want and need to achieve – e.g. “Social Marketing” = Marketing.
* Three Priorities – Twitter, YouTube, Linked In (These will change in 3 months).
* Ensure your social media people / partners speak in clear, understandable business language, or sack them.
5 Innovation – Less candy floss brainstorms, bigger, dangerous ideas that will make the difference.
* Separate the “what” from the “how” with ideas – keep a “what list.”
* New starts / graduates / work experience / cleaners / receptionists – ask them what single change they would make if they were running the place (today).
* Speak at schools and ask the students their thoughts, they will tell you!
4 Reputation as an ethical company – “We spend years building something that can take seconds to destroy” “We want to be a Force for Good, and don’t know how.”
* If you don’t want something to appear on Twitter, then don’t do it.
* Culture” = you – that is the only way to change / define it, that works – be responsible for your own behaviour.
* Have a company Cause that you stand for, champion and never give up on.
3 Customers (Yes, THIRD!) – Need more (“who will pay us on time”).
* Have an irresistible offer that you can explain in 3 seconds.
* The Gold-Dust to your organisation is what your existing customers say about you.
* Focus on the emotional experience of your customers – forget stats, think emotion.
2 The Quality and effectiveness of our leaders – “we need internal leaders who deliver,” includes removal of external dependence on leadership (to consultancies).
* Your leaders’ no. 1 task is to grow other great leaders.
* Within that as no.1 hold your leaders to account on the following, in order 1 Delivery. 2 Behaviour. 3 The morale of their teams (people usually leave an organisation because of their leader).
* Only partner with consultancies / coaches who will guarantee their work, who will value your internal people and who will share with you what they have done, removing your dependency on them.
With my love and best wishes