In this video, author Jan Rutherford shares the difference between strategy and action, and how to say NO. He also talked about how you can foster personal and team self-discipline by delegating appropriately to greatly improve time management.
- I love football. In football, nobody makes a roster by working hard. What matters is performance. That they can run fast, tackle, catch the ball, and make the plays. It's the same way in business. You want to focus on value creation and performance, just like in professional sports. Value creation is determining which initiatives produce a return on investment and staying focused. Whether you're a sales person, coder, or a manager leading your team in difficult times, you always want to consider what value you're creating through your activities.
There are many priorities competing for your time and that of your teams. The noisiest issues, problems, and challenges shouldn't necessarily be the ones that get your attention or the investment of your team's time. One thing's for certain, none of us are capable of multitasking. The unessential activities that occupy your time could be marketing events targeted to the wrong audience or IT projects that don't have the customer at the core. They might be processes that can be automated or reports no one reads.
There are plenty of examples of low-value work. To determine which activities bring real value, look at your data before making decisions. First, consider the numbers associated with operational costs. What are all the costs associated with your operation, and what is the return on those costs? It may seem obvious, but the payoff should exceed the expenses. Second, ask yourself which activities contribute to revenue generation and create real value? There is a big difference between effort, often measured as activity, and effectiveness, which is real value.
Don't make the mistake of confusing the two. And don't make the mistake of rewarding effort, when performance and real value is what counts most. Third, what are your business drivers? For example, which customers are choosing your products, from what demographics, for what features. Is there a common problem you solve through your offering that you are unaware of? Lastly, do your front lines understand how to deliver value to customers every day? If they don't understand the value of their contribution, it's up to you as the leader to ensure everyone understands that the sum of individual activities leads to the overall value the organization produces.
If they all understand their value, let them know by catching people doing things right and spread the good stories. We all have a personal responsibility to contribute more than what we cost. Help your team eliminate unnecessary steps, busy work, and low value bureaucratic activities to create value across your organization. Remember, we can spend time, or we can invest it. Invest your time in meaningful initiatives that produce real value and create the environment where your team does the same.
That's what this is all about. Focusing on what is truly essential, especially during tough times.
- Describe how to review past performance.
- List primary features of innovation.
- Distinguish teaming from leading.
- Identify alternative approaches to cost reductions.
- Build self-awareness.
- Adopt a growth mindset.
- Develop a committed team.
- Turn adversity into opportunity.