CEO Success Report -
October 2003
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CEO Success Report
- October 2003
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Increasing the Effectiveness and Enhancing the Lives of CEOs
and business owners.
Contents of this issue...
.. Welcome - A few words from the publisher, Gary Lockwood
.. Thought-Starter - "Letting Go""
.. Guest article - "Running a Strategic Planning Session"
.. CEO Resources
.. Quotes to use in your staff meeting this month
.. Humor to lighten up the executive suite
.. Contact the publisher
.. Subscribe and unsubscribe instructions
See past issues of the CEO Success Report at:
http://www.CEOSuccess.com/archives
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WELCOME to this issue of the CEO Success Report!
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Hello again. I'm Gary Lockwood, President of CEO Success.
Welcome back once again to the CEO Success. I know you have
no shortage of material to read and I thank you for choosing to
read our newsletter.
We work hard to provide practical ideas, thought-provoking concepts
and useful information for you.
You (and over 1000 of your CEO peers), have honored me by
being a loyal subscriber. For that, I appreciate you.
Look at your appointment calendar. See any "white space" there?
If you're like most busy CEOs and business professionals, you
are booked non-stop for meetings, luncheons, dinner meetings,
charity functions, planning sessions and... Well, you get the idea.
My "thought-starter" in today's issue is about how you can
create more-than-enough time to do the things you want and
need to do. Let go and enjoy!
May I ask a small favor? Please forward this issue to other CEOs
and company presidents who may be interested in receiving
these messages. Thank you.
And now for our guest article this month.
This is the time of year many organizations gather their leaders
to ponder their future. The strategic planning session is a
traditional occasion which brings the managers together to discuss
the issues facing the company. Our guest article is addressed to the
people in the organization who have the mandate to run and facilitate
such sessions. This article will address each phase of the strategic
planning session facilitation:
Our guest author this month, Estelle Métayer, shows you how to
to unleash the strategic thinking of the management team,
and once in a while, to force the company to step back and reflect on
its strategy. Read more about Estelle at the end of her article.
I hope you enjoy receiving these articles and ideas to
help you sharpen your thinking about being an effective CEO.
My wish is that you use the ideas in the CEO Success Report to
get the results you really want. If you want some help in putting
them into practice, or if you have questions, email or call.
As you know, our specialty is Increasing the Effectiveness
and Enhancing the Lives of CEOs and business owners.
Enjoy this issue with my compliments.
Sincerely,
Gary Lockwood
CEO Success
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This month's THOUGHT-STARTER
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"Letting Go"
By Gary Lockwood
Look at your appointment calendar. See any "white space"?
If you're like most busy CEOs and business professionals, you
are booked non-stop for meetings, luncheons, dinner meetings,
charity functions, planning sessions and... Well, you get the idea.
In between the bookings, you scramble to keep up with projects,
reviews, financial reports, investors, staff, customers and suppliers.
Tired yet? This weariness can wreak havoc on your business.
Consider the symptoms of fatigue: lack of innovation, irritability,
reduced productivity, and stress. The list goes on. And we are
frequently unaware of how run down we are getting.
We are moving away from the industrial age into the information
age, yet the work ethic that most of us grew up with taught us to
maximize work time - time at the factory or the office. Even our
language reflects the inherent value judgment of time away
from work. We call non-work time "off-time" or "down-time".
The emergence of creativity, ideas, and information as our most
valuable resources, and the pervasiveness of the global, 24-hour
business world has changed our concept of "time equals money".
Now, it's "results equals money". And we all know that more time
at the office does not mean more results. In fact, it often means
fewer results and more mistakes.
Build some "white space" in your life. Build reserves of time.
Create more-than-enough time to do the things you want and
need to do.
Let's get something straight first. Building a reserve of something
you need in your life is only one part of the puzzle. The other piece
is to identify what is draining your reserves. If you're pouring into
the top of a leaky bucket, you won't make much progress.
Let's look at how to create reserves of time. Many of my new
coaching clients complain of having too little time. Their "time tank"
is running on empty, so they feel uptight, frustrated, flustered,
pulled in every direction, and tired. Often, this is the first thing
we work on together. Clearly, a reserve of time would reduce
the stress.
So, how do you do it?
Start by plugging the leaks. Let go of some of the activities that
are consuming your time. Many of today's high performers seem
to have a common thread: the "Superman/Superwoman" ideal;
i.e., Taking on everything and trying to get it done by tomorrow.
Success or failure often seems to be measured by the state of
"busyness". Face it; you can't do justice to everything at once and
you often don't have perspective of all you have going on. It's like
tossing another ball to the juggler...33 at once for the average
busy executive. Focus on what counts. Take aggressive action
to let go. Here are some possibilities:
* Let go of tasks that someone else can do - Good delegation
is a key skill for managers, yet the average manager spends 45%
of his or her time on tasks that could be done by a staffer. "I can
do it better and faster", you say. Sure you can, but ultimately, you
are judged on what you can cause to happen, not just what you
can do on your own. As a general rule of thumb, in non-critical
cases, if another person can accomplish a task 80% as well
as you, delegate.
* Let go of your need to say "Yes" to every request - Those around
you will give you all the work you are willing to take. This is true
in both our business and personal lives. Some of the most
stressed people around can't say no to the next fund-raiser, the
next committee, the Little League, the church, etc., etc., etc.
Politely, but firmly say "No". Examine all the organizations where
you spend your time. Which ones can you "let go"?
* Let go of some meetings - The typical manager spends 17
hours each week in meetings plus 6.3 hours getting ready for
those meetings. Nearly a third of that time in meetings is wasted.
That works out to be about six full weeks of the year of useless
meeting time. You've seen the symptoms: hastily called meetings,
no ending time stated, no agenda, no official record of what was
done or said, no followup. If even one hour per week is saved,
it could mean two additional effective workdays per year!
Skip some of the meetings or send someone else.
* Let go of interruptions - Interruptions can drain 1-2 hours a day.
Rather than spend time with anyone who happens to stop by,
close the door, turn off the phone or work from home one day
per week.
* Let go of the clutter - Is your desk or credenza piled with pending
and unfinished work that will be done when you "get around to it?"
The average businessperson spends 3 hours each week looking
for things plus 2 hours being distracted by the stuff lying around.
The most effective people work from a clean desk. Having an
uncluttered desk helps you stay focused on your most important
project.
* Let go of useless tasks - quit doing some of the routine things
you do just because "that's what I've always done". Practice good
priority management. Plan each day to stay focused on those
tasks that will move you toward your goals. Watch for tasks that
can be delegated or simply dropped.
* Let go of "Crises management" - Ever feel that you're leaving
a trail of unfinished projects, unreturned phone calls, unread mail,
partially completed reports? Crises arise from a job we left
unfinished to work on another unfinished task. Another term
for crisis management is "fire fighting."
Most of this is really caused by losing focus of true priorities.
Learn to tell the difference between "urgent" and
"important".
Bottom line... Many people pay a heavy price for their success -
poor health, failed marriages, neglected friendships, no self-
development in any area except business. Start today to plug
the leaks and create ample reserves of time for yourself.
Let go!
About the Author...
Gary Lockwood is Increasing the Effectiveness and Enhancing the
Lives of CEOs, business owners and professionals.
Email: mailto:Gary@CEOSuccess.com
Web: http://www.CEOSuccess.com
==================================
Guest Article
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Running a Strategic Planning Session
Article by Estelle Metayer - Republished with permission of Competia
Inc.
Extract of Competia Online Magazine at http://www.competia.com/magazine
Competia Online Magazine is the world's largest magazine and portal for
Competitive Intelligence and Strategic Planning professionals.
Many companies embark on a strategic planning process, either
formally or informally. Often, many parties in the organization are
involved in the process, and the strategic planning session is a
traditional occasion which brings the managers together to discuss
the issues facing the company. This article is addressed to the
people in the organization who have the mandate to run and facilitate
such sessions. This article will address each phase of the strategic
planning session facilitation:
** Preparing the workshop(s): getting ready
** Running the session: the tools, the style, the rhythm and the aspects
to cover
** Follow up: making sure action gets taken and that the benefits last
Preparing the workshop(s): getting ready
1 - Defining objectives and setting expectations
Facilitating a strategic planning process is not just designing a
template and having the organization fill in the gaps. On the
contrary, it means carefully coaching the management team through a
thinking process. Often, the actual strategic plan is even less
important than the process to get at the plan.
An observation of world-class strategic processes shows a trend to
split the process into three phases:
--> Opening the discussion: This phase's objective is to allow managers
to investigate different avenues for the strategies of their companies.
The purpose is not to drive participants to a decision, but rather to
explore avenues, and make sure they do not set limits on how creative
their strategy could be. It is crucial not to let the team try to
make decisions, but rather to encourage questions and debate.
The desired Result = Two or three possible strategic directions
--> Defining a strategic direction: The objective is for the team to
decide on one course of action. In this phase only, decisions start
to be made.
The desired Result = One strategic direction
--> Designing the functional plans: The objective is to translate the
strategic direction into actionable functional plans: budget, Human
Resources, marketing, communications, etc...
The desired Result = Functional plans
2- Deciding who should participate - A few rules of thumb:
Small numbers: Running a session with more than six or seven
participants is difficult. If run with more participants, four or
five people often tend to monopolize the discussion, and the others
go into listening mode.
Diversity: Get a cross-section of expertise; by inviting, for example,
the vice-president marketing, engineering, finance and others, you
make sure that everybody is in the loop right away.
Do not stick with hierarchy: Invite people who would add value to the
discussion. It is also a good opportunity to invite the rising stars,
those who would bring new ideas, "shake the box"...
3- Find the appropriate location - Here are a few alternatives:
Offsite: One of the best ways to differentiate the session from the
traditional meetings. People relax, do not get the phone or e-mail,
and are more attentive to the discussion. You can choose to meet at a
location close to the office, or even to take the team to a local
resort, making this experience an enjoyable one people will look
forward to next year.
In-house: Make sure in this case that nobody can disturb the meeting
or take away one of the participants. The advantage of in-house is
that it allows you to fetch additional information or documents that
might be useful in the discussion if relevant. In general, though,
avoid in-house meetings.
4- Gathering the back-up material
Avoid starting the workshop with a two- or three-hour presentation
about the company market, competitive position, etc... Presenting all
the facts at the beginning of the session tends to be long and does
not generate any interesting discussions. However, depending on the
discussion, you will need some facts to confirm or infer some
statements. Preparing some pages about the market and the company
performance can help feed a discussion that is not getting anywhere.
We suggest you use a separate document or media to provide the facts:
if you are distributing a document to the participants, add them in
the appendix (this way, they will not flip through the pages while
you speak), and use overheads to insert them within an existing
presentation. For the IT savvy presenters, attach them via a
hyperlink within your Powerpoint presentation.
You can also take some of the key pages of the previous strategic
plan: instead of reinventing the process each year, start from where
the company last left it, and focus on the new challenges or the
changes in the industry.
5- Thinking about the setup
The setup will largely depend on the culture in your organization.
Think carefully about it, as it has a huge influence on the spirit of
the session and can set the tone for the entire day:
For up to eight participants: Prepare a large round table, and make
sure to spread people across the table evenly. The president does not
have to sit at the end, and all the marketing guys do not have to sit
together, for example.
For 8-to-30 participants: Use a U-shaped table. Everybody will be
able to see each other, and it is a good way to focus attention. If
you are going to run workshops with this many people, plan smaller
meeting rooms.
Mark people's place in advance
Make sure you have enough markers, transparencies, flipcharts, and
tape to tape the flipchart. (You can also use the excellent 3m
flipchart which allows you to stick pages on the wall as you go on
into the discussion).
Leave enough room for you to circulate.
If you are using a projector from your laptop, also use an overhead
projector which will allow you to insert back-up material into the
discussion, or to capture ideas directly on the transparency.
6- Preparing the presentation document
Remember the workshop objectives are to trigger a discussion. Your
presentation document, therefore, should reflect this objective. The
intent is not to give the answer, but to serve as a support for the
discussions.
Revision of the company's mission or vision: Do not make this part a
lengthily discussion, as it could rapidly become quite theoretical.
Objectives of the session: What is expected at the end of the
session? What could the end products look like?
Stretch goals for the company: Focuses organizational energy on the
one breakthrough goal that will produce the greatest benefit to your
organization, its customers, and stakeholders.
Aspects that will not be discussed at the workshop: These are
typically items that are either outside the scope of the exercise
(performance indicators, and salary evaluation, for example), or
that you do not wish to address as they might deter from the
original objective.
Key strategic questions to answer: A beautiful way to organize the
session. A section for each strategic question, backed up with facts
and existing analysis.
Differentiation axis: As per the attached document, understand what
will be the differentiation axis for the company. Companies can
rarely differentiate around the three dimensions (for example,
technology, price and service) and companies that excel usually excel
because they have clearly chosen one direction.
Next steps, review of action items
We also often use a flipchart to record:
Action to be taken
Analysis to be done
Unanswered questions
Questions outside of the scope of the discussion
Running the session: the tools, the style, the rhythm
and the
aspects to cover
Choose the appropriate style: If you are the facilitator, you cannot
have an opinion. All you can do is guide your audience by asking the
right questions, and pointing them to the facts. As a result, many
strategic planning professionals ask outside consultants to help them
run the session. It allows them to be part of the discussion and not
to lose credibility.
Monitoring the time: You can also appoint a time keeper if you are
afraid of not being able to check the time yourself. Set a timing for
each section of the agenda and stick to it since people appreciate to
finish on time. You can always agree to come back to some sections
that were not finished at the end of the session if time allows, or
in a separate discussion. However, if people do not agree on the
objectives of the company at the beginning, take the time needed to
reach an agreement and do not move to the next section, for if you do,
the rest of the discussion will be useless.
Carefully planning the agenda: Do not expect to cover more than one
session every 90 minutes, plan coffee breaks, and allow 1/2 hour to
return phone calls and check the voice mail. Finally, never forget
the golden rule: in a presentation mode, never expect to present more
than one page every three minutes (20 pages per hour). This naturally
does not hold true if the discussion is focused on one page.
Afternoons are difficult times, so get the more heavy discussions
done in the morning and plan discussion groups for the afternoon.
Dealing with difficult questions or difficult people
Use the "parking lot": On a flipchart, write down the subjects which
no discussion could solve, and which might degenerate into painful
discussions. Agree with the team at the beginning as a ground rule
NOT to discuss these points during the day.
Spend time with them before the session: Walk them through the
presentation document, identify the areas of disagreement.
Arrange sitting arrangements so that they can be "coached" during the
session.
Follow up: making sure action gets taken and the
benefits last
Prepare notes or minutes of the meeting: Participants will rarely
read about the meeting they attended. Instead, provide a synthesized
action plan highlighting responsibilities, and a summary of the
discussions. If you are required to take action, provide them with
the deadlines.
Arrange discussion with participants one week after the session:
After appropriate time for participants to reflect on the session,
you can arrange a discussion with the key participants. It will allow
unsolved issues to surface, and also to get the pulse as to the
efficiency of the session.
Organize a follow-up meeting: It is wise not to allow participants to
leave the session thinking they'll see a strategic plan soon, and
will meet next year again. Make sure you plan follow-up meetings in
smaller groups to refine the findings of the session, and
double-check if the recommendations are relevant.
Conclusions
Leading a strategic planning session is one of the most difficult
tasks of the role of the strategic planning manager: it requires the
personal skills to capture the interest of the audience, the
listening skills to pick up signals, the analytical skills to see the
gaps and the opportunities, the synthetic mind to summarize and build
consensus ... However, this is where your role comes to the fullest
potential: to unleash the strategic thinking of the management team,
and once in a while, to force the company to step back and reflect on
its strategy. Good luck!
Recommended Reading:
Strategy Process: The Concepts, Context and Cases, by Henry Mintzberg,
James Brian Quinn (Contributor)
Team-Based Strategic Planning, by C. Davis Fogg
Simplified Strategic Planning: A No-Nonsense Guide for Busy People
Who Want Results Fast! by Robert W. Bradford, Peter Duncan, and Brian
Tarcy
Applied Strategic Planning: How to Develop a Plan That Really Works,
by Leonard Goodstein
Article by Estelle Metayer - Republished with permission of Competia
Inc.
Extract of Competia Online Magazine at http://www.competia.com/magazine
Competia Online Magazine is the world's largest magazine and portal for
Competitive Intelligence and Strategic Planning professionals.
---------------------------------------------------------------
Estelle Métayer is president of Executive Resource, Canada's leading
supplier of consulting services as well as of tailored training and
coaching programs for both senior executives and professionals in
the fields of strategic planning and competitive intelligence. A former
consultant at the international strategic consulting firm McKinsey
& Company, Estelle has written and lectured widely on the process
involved in turning the intelligence gained into actions at
conferences hosted by the International Research Institute, the
Canadian Institute, The International Quality and Productivity Center,
the International Conference Management, the Society of Competitive
Intelligence Professionals, and Egideria, among others. She can be
reached by e-mail at Estelle@competia.com
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RESOURCES for CEOs
=============================================
The Executive Committee - Chief Executives Working Together
http://www.CEOSuccess.com
** Attention CEOs
Business leaders are choosing a new way to better their companies and
themselves - through membership in TEC, an international organization of
CEOs.
Imagine the benefits of meeting regularly with a small group
of company leaders in your area to share experiences, exchange ideas and
solve common problems.
Thousands of chief executives turn to TEC for a learning experience they
cannot get anywhere else. We are committed to connecting CEOs with the
people, ideas and information they need to help them improve their
businesses and enhance their lives.
Check it out at http://www.CEOSuccess.com
===============================================
QUOTES to use in your staff meeting this month
===============================================
"It's kind of fun to do the impossible."
Walt Disney
"A successful person is one who can lay a firm foundation with the
bricks that others throw at him."
David Brink
"The home is the chief school of human virtues."
William Ellery Channing
"It was when I found out I could make mistakes that I knew I was on to
something."
Ornette Coleman
"It is not enough to have a good mind; the main thing is to use it
well."
Rene Descartes
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HUMOR to lighten up
the executive suite
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Advice For The Day
--------------------
If you have a lot of tension and you get a headache,
do what it says on the aspirin bottle:
"Take two Aspirin", and "Keep away from children."
------------------
Management Lesson?
A crow was sitting on a tree, doing nothing all day. A small
rabbit saw the crow, and asked him, "Can I also sit like you and
do nothing all day long?". The crow answered: Sure, why not."
So,
the rabbit sat on the ground below the crow and rested. All of a
sudden, a fox appeared, jumped on the rabbit and ate it.
Management Lesson?
To be sitting and doing nothing, you must be sitting very, very
high up.
***excerpts from: http://www.joker.org/ ***
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CONTACT CEO Success
=================================
Gary Lockwood is the publisher of the CEO Success Report.
Email: mailto:Gary@CEOSuccess.com
Office: (800) 272-1575 (USA) * (909) 739-7444
Fax: (909) 494-4314
========================================
Your Comments, please?
========================================
I appreciate feedback, corrections, and comments about the
CEO Success Report. Please send your thoughts to:
Gary@CEOSuccess.com mailto:Gary@CEOSuccess.com
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