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Harness the Power!

The CFO is often the first to recognize the high cost of chaos. It does not appear as a line item in the financial statements. But, a CFO recognizes the warning signs. Performance, productivity, and profit fall below expectations. Rick McPartlin, co-founder and CEO of The Revenue Game, believes the cost of chaos runs as high as 30 percent of gross revenue in many organizations.  That means that if you are a $50 million company, you are wasting $15 million year after year.

Chaos means confusion: both individual confusion about what we are trying to accomplish, and team-wide disasters when people are confused about how we will accomplish it.

A CFO brought me into an organization where chaos reigned. The shareholders were happy with the return on their investments because revenue grew year over year. The company enjoyed a steady supply of new customers. By all appearances this was a very successful company.

However, the CFO was able to detect those early indicators that are always present but rarely captured. He saw that their method of driving new customer growth was unsustainable. He saw that the leadership was aging-out without new leaders being developed from within. He saw that, while they were successful, the chaos, the pace and intensity for this level of success was also not sustainable. He worried that key leaders would burnout or die before building a more sustainable business model. Their success was coming at a very high cost and he knew this model was unsustainable.

The Halpin Companies team started working with this leadership team to gather information and identify alternative approaches.

Fairly quickly, using our methods, we identified a potential future CEO from within the ranks. At first, the current leadership team was disdainful of our recommendation but this candidate did emerge over time as the key player with the greatest leadership capacity. He currently serves successfully in that CEO role.

More importantly, we were able to work with the two top layers of leaders and, based on our recommendations, build a more inclusive and transparent approach to driving new customer relationships.

Through mentoring by the senior leaders and using this more inclusive approach the former #1 sales person was able to build a dozen sales executives with his same level of success.

Using our processes he was first able to articulate his values – he cared deeply about their customers. He then started to articulate his sales approach – he was an extraordinary listener. We then helped him document and communicate his organic sales approach in meaningful and easy to understand ways. Over time, in one-on-one mentoring sessions, he trained each of his key people to replicate his success.

Not everyone had the same capacity but 14 or his 22 colleagues were able to step up. As a result the company grew by 300% in a few short years because of this velocity.

The CFO was thrilled, the shareholders were thrilled and more importantly, this construction-related company was able to sustain the economic downturn and continues to thrive today.

Six of the other colleagues self-selected out of this company with their dignity intact. Why did the go away? They saw that they could not be successful in the new business model. Two other leaders came to the leadership team and asked to take a step sideways or even backwards. They knew intuitively that they could not be successful in the new business model, given their own strengths.

When you harness the power you already have within your organization, the results will be extraordinary. Often our clients experience growth in shareholder value in amounts that were never imagined or forecasted. Building alignment, inclusiveness, and transparency drive success.

 

The Halpin Companies has been facilitating transitions in organizations of all sizes and levels of complexity since 1995. Our proven methods create work environments and corporate cultures where shareholder value grows consistently. Learn more about our methods at www.HalpinCompany.com

For a complimentary consultation, contact Katharine Halpin at 602-266-1961 or [email protected]

 

 

 

 

What’s needed today? A balanced perspective!

Meg Whitman, CEO Of Hewlett Packard said at the 2016 Davos World Economic Forum “My view is that the future belongs to the fast”.

Marc Benioff, CEO of Salesforce says frequently, “Speed is the new currency of business.”

I say yes, of course.  But at what cost?

Yes, we must all be agile, nimble and able to pivot quickly but how has this intense focus on responding to emails 24/7 and making quick decisions, cost us in terms of the quality of our decisions?

I’m pleased to see Dominic Barton, Global Managing Partner of McKinsey, and his colleagues have analyzed the benefits companies realize when they take a long-term perspective.

Today, our world is moving faster than ever. This pace and intensity requires leaders to be more grounded in the long-term view, what is important to them as individual leaders and what is most important to their organization, shareholders, their customers, their suppliers, and their employees. This grounding allows them to be agile while still making decisions in a consistent, disciplined manner.

McKinsey’s research indicates the increased value delivered by organizations with a long-term focus in terms of revenue, earnings, and economic profit translated into higher market capitalization: organizations with a long-term focus added $7 billion more in market capitalization on average than other firms between 2001 and 2014.

See their full report here by clicking here:

We have all been subjected to poor quality decisions made in haste. The world is moving faster than anyone could have imagined, even a decade ago. Strategic Planning is done in 18-month increments because none of us can predict beyond that short amount of time.  Because of this intense pace, leaders need the structure, discipline and accountability that occurs when they hold a long-term perspective.

I have seen the high cost that these short-term decisions made on the potential long-term success, as well as the current environment related to people, productivity and focus. Front-line leaders lose too much sleep when they experience unnecessary volatility in their focus.   The world around us presents volatility everyday. However, if leaders can maintain a long-term perspective, we can minimize this disruption to our people and our progress.

When a team takes on an 18-month project to build a better mousetrap and those team members sacrifice the quality of their lives and their time with their loved ones to purse their passions inside of this project, they do not take drastic change well.

When C-level leaders have a narrow perspective focused on this Quarter or next Quarter they tend to make volatile decisions that impact the viability and success of these longer-term initiatives.

A short-term focus invariably diminishes morale and employee engagement. Productivity, profitability and long-term success all take a hit as a result.

If I could dictate one thing to ever leader on the planet it would be to prescribe one hour of uninterrupted think time for every person currently in or aspiring to be in any kind of leadership role.

With this one-hour of strategic think time each day, consistently taken, leaders would start to have greater awareness about the red flags and key indicators that are always present but often overlooked.

This one practice would move leaders out of a frenzied and reactive mode into a strategic mode with a long-term focus, a broader perspective and a more consistent leadership style.

We must consider the unintended consequences of our actions and reactions. We cannot achieve a broad perspective without regular intervals of high quality solitude to think and then act strategically with a broad perspective about our long-term vision and goals.

Our economy depends on leaders who make decisions based on a longer-term perspective. McKinsey’s analysis indicates the organizations that held a longer-term perspective added nearly 12,000 more jobs on average than other organizations between 2001 and 2015.

Had all organizations created as many jobs as these longer-term focused organizations, the US economy would have added more than five million additional jobs over this period.

This suggests a potential value to our economy of more than a $3 trillion through 2025. This significant potential can be realized if we can support leaders in giving themselves the gift of regular intervals of strategic think time.

 

Katharine Halpin has been facilitating transitions in organizations of all sizes since 1995.  She founded The Halpin Companies to fill a void she saw everyday in her CPA career.  “Transactions and transitions fail to accomplish the forecasted shareholder goals simply because no one is focused on harnessing the power of the original enterprise.  Legal and Financial goals become the focus.  By focusing on leveraging the original enterprise by getting the right people in the right roles focused on the right priorities, organizations can grow by a factor of 200% to 300%”.

Katharine and her team have amassed a suite of tools and proprietary methods to exponentially increase shareholder value during a transaction or transition.

For a complimentary consultation, Katharine can be reached at 602-266-1961 or via email [email protected] To buy Katharine’s e-book about building in these reserves of time to think strategically, click here.

 

 

 

 

Greatest Source of Stress? Un-negotiated Expectations. How to fix!

Alignment for Success – a 5-Part Book Review

I wrote my book, Alignment for Success; Bringing Out the Best in Yourself, Your Teams and Your Company in an effort to spread the word about my unique methodology for being a Strategic Leader.

 

I am thrilled with the response and feedback to this important book.  Jerre Stead, Chair and CEO of IHS, Inc. (who has served as CEO of 7 publicly held companies over his career) gives the book as a gift and tells people “this is what I believe”.

 

Jason Pistillo, President of the University of Advancing Technology, asked me to bring my book into their advanced curriculum because, as he stated, “we want to use the most contemporary thinking about leadership.”

 

And just recently Abbie S. Fink launched a 5-part Book Review.  Abbie is a leader in the business community in Phoenix and frequently reviews books for their blog at HMA Public Relations.

 

I’m so pleased to share Part 1 of her Book Review with each of you here:

http://hmapr.com/bookclub-alignment-success-bringing-best-teams-company-part-1-alignment/

 

Here’s Part 2 from @AbbieSFink:

 

http://hmapr.com/bookclub-alignment-success-bringing-best-teams-company-part-2-driving-force/

 

Here’s Part 3 from @AbbieSFink:

 

http://hmapr.com/bookclub-alignment-success-bringing-best-teams-company-part-3-make-meeting-time/

 

 

Here’s Part 4 from @AbbieSFink:

 

http://hmapr.com/bookclub-alignment-success-bringing-best-teams-company-part-4-attitude-gratitude/

 

Here’s Part 5 from @AbbieSFink:

 

http://hmapr.com/bookclub-alignment-success-bringing-best-teams-company-part-5-creating-culture-high-performance/

 

 

Thanks so much Abbie for this extraordinary contribution to making work work for everyone!

I’m going to approach my 2014 Goals differently….

My primary Goal for our firm for 2014 is to continue to expand our platform exponentially. To continue to take our proven methodology and tools to bigger and bigger audiences and to let go of the obstacles that have prevented this in the past.

Of course, the biggest, oldest, toughest obstacle or barrier to growing The Halpin Companies has historically been me, Katharine Halpin. I am very pleased to report that this longstanding obstacle has finally been moved aside.

Every new client that comes to us has engaged our firm because I have asked them one question. After they share their vision and goals, I ask them, “do you want to approach this the easy way or the hard way”?

Invariably, they respond, “of course, the easy way!”

Then we get started.

If I know this and can facilitate, what I call quantum leap results for our clients, why haven’t I been able to utilize this approach and let our firm do things the easy way?

My commitment is to use the easy way in 2014 methodically and consistently, as a team! For me, the team approach is an absolute requirement. It is the only way for me to be successful.

We are going to achieve our goals the easy way by utilizing the same methodology and tools our clients learn from us…

1. We will focus as much on the process we use to drive results as we we will on the desired results.

By this I mean I will take the time, in advance, to share my vision and specific goals with the team and spend as much time as is required for them to own this vision and our plan as their own. We will then employ a variety of interim checkpoints to assess and revise our plans regularly. We will do this step for every project, new initiative and endeavor.

2, I will get the right people in the right roles, based on each individual’s strengths.

3. When we miss an opportunity or a deadline, I will take time to articulate what was missing. I will do this first for myself and then with the team.

Were we missing a collective commitment? Or, was one of us missing an individual commitment?

Were we lacking the skills?

Were we simply lacking the structure such as a detailed plan of action and some interim checkpoints?

When I am consistent in maintaining this strategic mindset The Halpin Companies enjoys exponential growth and success. More importantly, this success comes to us strategically and without a lot of effort. We rarely experience much stress when we follow these critical steps.

As we enter our 19th year, don’t you think it’s time I walk my talk consistently?

What obstacles could you remove or move aside in order to achieve your 2014 goals more strategically and more effortlessly?

The Hard Way or The Easy Way: Decision-Making

Decision-making is one of the most important responsibility of leaders, second only to getting the right people in the right roles.  Unfortunately, very few leadership teams know how to make decisions that will withstand the test of time.  How can we all make better decisions?

They key is to start with the hard facts, objective data that is well organized and easy to understand.  Once we have the facts in front of everyone, it is more difficult for any one of us to make up stories based on our own agenda or perspective.

The next step is to establish a process and timeframe for making a decision.  The process should specify roles for each team member (facilitator, context provider, decion-maker, etc) and the desired outcome.  Everyone should have a clear understanding of the problem to be solved.  The process should include enough time and discussion to ensure everyone buys in to the problem statement and objectives.  Otherwise, team members might unintentionally sabatoge decisions down the road.

Decision-making like all aspects of leadership is not difficult.  But, with all components of effective leadership, it requires getting out of our comfort zone, getting out of our typical distracted states and focusing in a strategic and proactive manner.