If you are measuring too much it can be harmful to your health… or at least the health of your business. Here we are in January 2019. Quite probably at a moment of inflection in the business environment. Is your system of Key Performance Indicators (KPIs) helping you thrive during this turn, or is it an administrivial ball and chain? During a recent meeting with a client she said “I’m really not into all that book-of-the week crap. We need to focus on our KPIs and deliver on them. That’s all there is to it.” I agree with her. However, there is an important difference between flavor of the week and true organizational learning.
This month we look we explore the 8 steps you need to take to prepare your business to be sold.
Is your wealth under attack… from you? I recently read an excerpt from The Perfect Square: A History of Rittenhouse Square by Nancy M. Heinzen. Rittenhouse Square was home to high concentration of very wealthy in the mid to late 19th century. It describes a shift in the relationship between the wealthy and their money.
Based on what our clients are experiencing, you are probably aware of the tight labor market. With 4.1% unemployment, some of our clients struggle finding talent. Entry level talent, supervisors/project managers and even CFOs are difficult to find. Here are some ideas that our clients are using to capture and retain talent.
It's time to get off the speeding train and take a moment to take stock. We are fond of saying that “Traction is a good business book” AND that “Traction is NOT the last best business book that will be written.” One of the things that Traction got right is the need for weekly, monthly and quarterly check points on progress toward strategic business goals.
Assessing and managing business performance has two dimensions to it. The first is managing day to day performance. This involves making performance visible and then discussing the difference between desired performance and actual performance. The second dimension of performance management is related to managing the development and progress of initiatives. This aspect combines traditional project management discipline with performance management.
As the quarter comes to a close I thought I would share some of what we've been reading about the economy. The name of this update post is borrowed from the meetings we hold with some of our clients to review progress and adjust course on a quarterly basis.
Here is a profile from the Columbus Chamber Site that describes Redbank Advisors.
I admit it, I used to think that shared values exercises were just so much kumbaya. But, the longer my career, the more I understand them to be critical to any organization’s success. I think the reason so many of us undervalue them is that we've been fortunate enough to work in organizations that worked well and there was a strong sense of shared values. When you have them, it’s hard to imagine what it’s like without them.
Those of you who have been to my office will know that I have seven feet of shelf space dedicated to business books. None of the books are dogs. Dogs don’t get saved, they get donated. But among the keepers, some are timeless core books and some are either too narrow to be used often, or so technically deep that they will expire at some point and be superseded. Technical books become obsolete fastest because our understanding is expanding so rapidly. I thought it might be interesting to decide what goes into the Lane Cannon (and thereby what is left out).
It’s a tough question; “What makes a good CEO?” Here’s an article from the Harvard Business Review about CEO performance. They rank the 100 top performing CEOs. Their criteria include total shareholder return, and market capitalization. They also used a ranking provided by the Reputation Institute to measure intangibles.
Facing a new challenge? Wondering where the answer will come from? Click here for some ideas for where to look for insight from Harvard Business Review. I think this article is a good source for idea generation/discovery.