Leadership Lessons | What is the Cornerstone of your Strategy?

At this time of year, we all get excited about personal renewal, our plans for the coming year and how we can enhance our personal and professional lives in 2011.

Even though most of us have traveled the road of broken resolutions, hope springs eternal as we prepare to refresh our commitment and recharge our batteries … and make plans to overcome our shortcomings and rise to new levels of success.

There are many fashionable approaches to this process, many of them with valuable insights.

Jonathan Fields chose 10 words to focus his energy. His approach is an expanded derivation from a three-word approach used by Chris Brogan, who, like me, uses his carefully chosen words “the way a lighthouse helps a ship in a storm.”

For sale: baby shoes, never worn

Ernest Hemingway used only six words to write what he called his greatest novel … and the more you think on it, the more intriguing it becomes.

It’s one more approach you can use to bring the essence of your 2011 plan into sharp focus.

Although we’re more interested in clarity than mystery in our annual pilgrimage to the altar of realistic expectations, this approach, like those of Jonathan and Chris, also celebrates the power of simplicity.

Find the Cornerstone of your strategy

[pullquote]“You’ve got to think about big things while you’re doing small things, so that all the small things go in the right direction.” – Alvin Toffler[/pullquote]

Maybe you’ve used variations on these K.I.S.S. principles to craft all sorts of goals and objectives … memorialized in lists, notebooks and diagrams.

Yet, when we step back into the maelstrom of real life, distractions intrude, new input floods our inboxes, and without seeing it, we start to slowly drift off course. We madly implement course correction procedures, but instead of returning us to our original direction, they cause us to lurch about, each adjustment resulting in a slightly different course even further from our original objective.

So, how many words does that leave us? (more…)

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Personal Productivity is the Cornerstone of Success | Weekly Tips

Getting it all done

Over the last several years working with Bay Area CEOs and with members of the Exkalibur Leadership Forum, I’ve learned that personal productivity improvements are one of the most important ways in which CEOs can find more time to focus on the things that really matter, and that only the CEO can do. Peter Drucker, noted business author; A.G. Lafley, former CEO of Proctor & Gamble; and others have focused extensively on what only the CEO can do. As I’ve watched CEOs struggle to spend enough time on their most important initiatives, I’ve worked hard to learn as much as I can to adapt powerful productivity ideas to help business leaders gain control and perspective over everything they care about. Every Thursday, I’ll share these VERY PRACTICAL PRODUCTIVITY TIPS to help you improve your own results in 2011. Why not sign up today so you don’t miss any of these great tips?

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During the holidays, I sat down with a client over a chilled martini … 3 olives, thank you. She was lamenting the limited progress she had achieved during 2010 on the seemingly endless list of projects she tried to tackle. Most of them were overdue or barely out of the gates. Her desk was littered with good intentions turned to stalled initiatives with little hope of an early resolution.

She had achieved only limited progress on her number one goal for the year. Yet, as we discussed several of the specific projects, she knew exactly what needed to be done … her reasoning was sound … but it was the unyielding demands of all of them, each of which she thought was as important as the previous one, that was keeping her from the success she was seeking.

Let’s figure out how to get all of this done

As we launch a weekly series … every Thursday … on Personal Productivity, I’m convinced of one thing if nothing else: (more…)

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Rudolph made it. I knew he would!

If you woke up this morning with sugar plums dancing in your head, most likely Santa made it down the chimney … and Rudolph is stretched out on the ottoman with a cup of egg nog in hand.

“Seriously?” my wife said. “You’re really singing Rudolph the Red-Nosed Reindeer while you’re getting dressed this morning?”

I’m afraid so. Honestly, I have no idea how that song got into my head. Maybe because Rudolph … along with Santa and Frosty … are the most iconic images of a secular Christmas? Maybe because Santa brought me some cool loot?

Maybe all that … but  for just a moment, I stopped to consider the words … mostly to figure out how to convince my wife that I hadn’t lost it  … yet … and it dawned on me that there’s a very timeless message in this simple tune that applies to all of us entrepreneurs … and everyone else trying to find their way in this world. (more…)

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Vol. 77: Grab the sword and become a Cash Flow Knight

“I went to a bookstore and asked the saleswoman, ‘Where’s the self-help section?’ She said if she told me, it would defeat the purpose.” — George Carlin

Too busy to clean the barn because all the horses are running loose? Our recent series featuring the Four Horsemen of the Apocalypse was a grim reminder that regardless of how many people are lined up outside our door, how many calls we have to return, whether we’re in the top ten for inbox clutter – we’re not absolved of our duty to master our most precious resource: cash flow. That’s why Warren Buffett calls it the “lifeblood of business.” Whether you’re unable to make payroll, can’t finance growth, can’t raise money or find that your business value is a black hole, mastering this process is the centerpiece of excellence.

So, what do we do about it? Although I didn’t start out to create a long series about business finance, so many of you have asked about how to make these improvements that I’ve decided to create a path to help you get there.

You CAN learn the principles of business finance

The first step on every knight’s journey is to slay any dragons in his path … so we’re going to kill off a few misconceptions about business finance. The most important is that you can learn these basic principles. As I’ve said before, you don’t have to be an MBA, CFO or accounting major to understand these essential concepts. If you focus on the core principles, you can direct your team and be sure that everyone’s paying attention to the right things.

Avoid EBITDA (except for bank covenants)

Another dragon in our path is EBITDA. (more…)

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