Posts

The High Cost of Not Taking Action….

338 Words
Less than 2 minutes to read:
In times of great challenges or change of any kind, it is easy to hunker down, withdraw and attempt to white knuckle it.
“Our run rate doesn’t allow any investments at this time.” 
“Our revenues can barely service our debt so we have to wait until more debt is retired before we can make investments.”
“We have to fill 1-2 more key positions and then our team will be ready to take on new strategic initiatives.”
Yes…all these excuses, justifications and rationales make sense if you want to continue to do what you have always done.
However, if you are ready for transformational growth, ready to use new and different approaches, ready to shake folks out of their comfort zone then let’s talk.
The only sustainable approach to transformational growth is by building alignment at all levels.  If you delay making the investment to shake things up, you delay the growth potential.
In order to build the degree of alignment that will establish a solid platform for growth, we must be willing to get out of our own comfort zone, create environments for our colleagues to feel safe getting out of their comfort zones and be open to using new and different approaches, regardless of the risk.  High risk equates to high rewards.
Until we get everyone focused on our top 3 strategic growth priorities, communicate this clear focus in a way that engages every employee, contractor, supplier and vendor and get the right people in the right roles, we will never be ready because we will never have a solid foundation for transformational growth.
As Walt Disney said so eloquently, “The only way to get started is to quit talking and begin doing.”
Don’t wait another day to start to build the foundation you need so you can achieve the profitable, sustainable growth you deserve.
The Halpin Companies have been facilitating mergers, acquisitions and management/leadership transitions since 1995.  Our clients experience transformational growth that results in greater shareholder value.  For a complimentary, confidential consultation, contact Katharine Halpin at [email protected] or 602-266-1961.

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.

 

 

 

 

Why Some Executive Demonstrate Bad Behavior

Brian Evje had a recent piece in Inc. Magazine titled, “Why Executives Are So Bad At The Behavioral Side of Management”.

After a 40-year career, I certainly do not believe that all execs are bad at the ‘soft’ skill issues (which we all know are really the hard issues to address).

Mr. Evje states that “In reality, there is nothing ‘soft’ about the skills need to relate to people well enough to lead them.  True leadership involves both hard skills and harder skills”.  I love this quote.

He summarizes that there are ultimately 3 things leaders have to do to be more effective:

1) Admit that inter-personal skills are important.  He even posits that we must be able to lead ourselves.  I call this self-management.  Being able to bring the required perspective to every situation and to do this ‘in the moment’ requires presence, discipline, thoughtfulness and a feeling of being grounded.  Humans don’t gain this ability without getting exercise, getting out in nature, taking think time, and having a variety of reserves of time in place every day..

2) Rethink your definitions of ‘hard’ and ‘soft’ skills.  He’s got great questions to ask yourself.  See the full article here:  http://www.businessinsider.com/successful-leadership-skills-2012-11

3) Get some help.  As a Leadership Strategist for almost 18 years, I, of course, love this idea.  Just like in sports, we don’t know what we don’t know about our levels of effectiveness. An outsider can help you raise your awareness and ultimately, make different choices.

When I re-tweeted this article yesterday, one of my Facebook friends added a comment that most execs put their self-interest over the interest of their employees, companies, communities.  Again, I don’t agree with the broad generalization.  I have seen more execs do this than I’d like to admit. However, the key here is to only hire values-based people and people who share your values.  If you value transparency, figure out what questions to ask in the interview to assess the applicant’s perspective on transparency.  If you value integrity, ask them to share an experience when they’ve been asked to compromise their integrity.  The interview might  be very short based on their response to this question.

If you enjoy these posts, you probably would enjoy our free report, 7 Secrets to Making More While Working Less at www.teamalignmentstrategies.com

 

 

 

Total Team Alignment Daily Question

Over the next few weeks, I’ll be offering a Daily Question.  In my opinion, the person asking the questions is the person being the Strategic Leader.  I hope you enjoy these questions.

If “Bob” is not meeting our expectations, what structures are missing?

Interim Check-points?

If you find this question and your  subsequent ponderings valuable, you might want to participate in one of our complimentary public Webinars on Total Team Alignment.

Here’s the link to find the schedule.

http://halpincompany.com/webinars/

This link provides the opportunity to register and the opportunity to be interviewed during one of these Webinars.  Please feel free to share these links with your colleagues, team members, and leadership team.

Total Team Alignment Daily Question

Over the next few weeks, I’ll be offering a Daily Question.  In my opinion, the person asking the questions is the person being the Strategic Leader.  I hope you enjoy these questions.

If “Bob” is not meeting our expectations, what structures are missing?

Perhaps a better opportunity to gain full understanding of our expectations?

Additional Resources or Guidance?

If you find this question and your  subsequent ponderings valuable, you might want to participate in one of our complimentary public Webinars on Total Team Alignment.

Here’s the link to find the schedule.

http://halpincompany.com/webinars/

This link provides the opportunity to register and the opportunity to be interviewed during one of these Webinars.  Please feel free to share these links with your colleagues, team members, and leadership team.

Total Team Alignment Daily Question

Over the next few weeks, I’ll be offering a Daily Question.  In my opinion, the person asking the questions is the person being the Strategic Leader.  I hope you enjoy these questions.

If “Bob” is not meeting our expectations, what is missing?

Skills?

Commitment?

Structures?

If you find this question and your  subsequent ponderings valuable, you might want to participate in one of our complimentary public Webinars on Total Team Alignment.

Here’s the link to find the schedule.

http://halpincompany.com/webinars/

This link provides the opportunity to register and the opportunity to be interviewed during one of these Webinars.  Please feel free to share these links with your colleagues, team members, and leadership team.

What Does Total Team Alignment Take on a Daily Basis?

Over the next few weeks, I’ll be offering a daily Question.  In my opinion, the person asking the questions is the person being the Strategic Leader.  I hope you enjoy these questions.

Who are we being that is giving “Bob” permission to not meet our expectations?

If you find this question and your  subsequent ponderings valuable, you might want to participate in one of our complimentary public Webinars on Total Team Alignment.  Here’s the link to find the schedule.

http://halpincompany.com/webinars/

This link provides the opportunity to register and the opportunity to be interviewed during one of these Webinars.

Please feel free to share these links with your colleagues, team members, and leadership team.

Reach or Respond? You Choose!

In every moment something occurs.

We have a thought, someone says something or a situation arises.

The question is this.  Can we hit the pause button (as opposed to the snooze button that puts on auto-pilot) and bring our best self to that situation.

Can we choose to respond with thoughtfulness and purposefulness?

Or do we dive into activity without thought of the unintended consequences of our rushing into action?

Today would be a great day to practice the discipline of remembering to hit the pause button regularly.

Grow Your People, Your Productivity and Your Profits in Record Time, with Record Results

What’s the first step in creating these kinds of record results?

The key is to grow yourself. Make sure you capture every growth opportunity when they initially appear.  Build in a variety of ‘reserves of time’ to coach yourself, reflect on your current results and reflect on what Peter Senge calls, the Creative Tension…the gap between where you are and where you want to be.

Give yourself the gift of time to reflect, connect the dots and start to see around corners.

You will be amazed at how your people start to mature as a result.

You will be thrilled at how your productivity escalates because you are more proactive and less reactive.

Increased profits and market share will follow quickly!

Making Meetings Meaningful

Do you want to free up hours and hours for productive, strategic, proactive work activities?

Studies show that for every 20-minutes we spend planning and preparing for meetings, we save 60-minutes in rework down the line.

Why don’t we consistently spend this critical 20-minutes?

So many people spend their days reacting to the intensity of their calendars. By rushing from meeting to meeting we tend to show up in meetings with very little clarity. Do we even know the purpose of every meeting scheduled on our calendar this week?

Without clarity about the purpose of a meeting, participants have little clarity about how decisions will evolve and resources will be allocated as a result of a meeting.

Worse, we have little understanding of our individual role in the context of this meeting.

To make meetings meaningful (and thereby much more productive) take 20-minutes prior to each meeting to get clear on these important issues:

1. What is the purpose of this meeting? Is it a standing committee, a team meeting or an ad hoc meeting for one purpose? Will decisions actually be made in this meeting? Will resources be allocated as a result of this meeting? Do I need additional data in order to be prepared to discuss issues from a strategic perspective.

2. What is my objective for this meeting? How might I move my related priorities forward during this meeting?

3. What is my role in this meeting? Am I the sole decision-maker? Am I there to add context or be briefed? Am I a member of a team that will drive solutions as a result of this meeting?

4. Do we have an official scribe for this meeting? Do we have a track record of documenting action items in a meaningful way that produce effective follow-up and real results?

5. Have I received an agenda for this meeting? Do the agenda items make sense, given the purpose of the meeting?

    With only 20-minutes of preparation time, your meetings can be exponentially more effective. More importantly, meetings can be a key structure for building a corporate culture of transparency, alignment and accountability.

    If you aren’t strategic and proactive in preparing for meetings, you guarantee frustration and wasted resources in your very next meeting.

    Your colleagues who have least amount of transparency about themselves will be disruptive by dominating the meeting and will drive the few, off-strategy outcomes.

    It’s your choice.