Let Routines Set You Free
Life is crazy and it conspires to make us and our teams as inefficient as possible. Constantly chasing people, chasing information, chasing prospects, etc., gets tiring and old pretty quick.
But that is the whirlwind most companies have created for themselves. Most entrepreneurs hate structure – or at least the feeling of being locked into one. After all, part of the entrepreneurial dream is to have the freedom to do what you want and when you want. But the lack of structured routines is a problem.
Leveraging the proven Scaling Up framework of meeting routines is one of the most effective processes you can implement to stop the constant-chase mode and turn your company into a prediction machine – one that does not chase, but controls.
Routines To Calm the Whirlwind
Establish the following regular meeting schedule and you’ll find yourself back in control.
- The routine of the Daily Huddle. This is the number one way to synchronize your team every day and get ahead of the things that might otherwise cause problems. No chasing people through the day. You’ll be able to have a quick connection each day without interruptions.
- The routine of the Weekly Meeting. The primary benefit of this meeting is to leverage collective intelligence to discuss an opportunity, issues that keep coming up in the Daily Huddles, get the Quarterly Plan back on track, work on Winning and BreakAway strategy moves, etc.
- The routine of the Monthly Meeting. This meeting looks at metrics, KPIs and financial performance and integrates learning into the company. Struggling to find a day and time to teach the team the new CRM system? Need to get everyone up to speed on the new sales and marketing plan? The monthly meeting is the perfect place for this.
- The routine of the Quarterly Planning Session. Each quarter, review the last quarter, create goals for the next quarter and the Rocks/Priorities/Action Items to get you there. Keep in mind as you do Quarterly Planning that you need to give thought to the Annual Plan and the Winning/BreakAway Moves.
- The routine of Annual Planning. This should be one to three days, offsite if possible, to re-evaluate the company’s foundational principals and long-term strategy, backing down into a solid one-year plan.
Companies with a serious focus on Scaling Up should create a routine of Strategy Development and Execution meetings. This should be with a small handful of senior leadership and should meet twice a month. Digging deep into strategy gets difficult with four or more people. Having solid strategy ideas going into Quarterly and Annual Planning makes the sessions much more effective. You’ll spend less time brainstorming ideas and place more focus on vetting and prioritizing solid ideas.
Routine will set you free and give you and your team much desired control. Stop chasing!
(Image: PDPics / Pixabay)
How Will You Double Your Business?
It’s getting cooler outside, leaves are falling, and it’s now Annual Planning season for your business. Interest rates have been low, unemployment rate is around 5%, and the economy has been growing slow and steady for the most part.
You have to ask, how long will this last? I can’t believe how much residential and commercial construction is going on around Charlotte, NC, these days. It looks like 2007-08 to me, and it almost feels like it too.
Every year I have a professional theme I like to deep-dive with my own business and with my coaching clients. This year it has been Core Customer and Buyer Personas. Last year it was getting Discretional Effort out of employees.
I’m going to get out front and announce it now: 2016 is going to be about creating a serious plan to double the business and get the Winning and BreakAway Moves in motion. The last thing I want to happen is to be stuck in the middle of the pack when the economy flatlines or slows down.
Take extra time this planning season to drill into the 3-5 year growth plans and ask your team these questions.
- How long will it take to double revenue? Hint…. use the rule of 72. Take 72 and divide it by your estimated (or desired) annual growth rate. 33% is about 3 years (check the math).
- How much revenue will come from your existing business lines and sales capacity?
- What is the gap between how much you can grow without really changing anything and your target revenue number?
- How will the operations side of the business need to change?
- What are 3-5 Winning or BreakAway Moves that can generate that new revenue and profit?
- What new capabilities will you need to acquire?
- What new people, contacts, advisors, coaches, etc. will you need to leverage to accelerate, to get you there faster?
- What components of the Winning and BreakAway Moves do you need to execute on in 2016 to get the proper momentum?
The purpose of the 3-5 year focus now is to get the momentum going strong in 2016 while you still have an economic tailwind. Get the plan moving, test your assumptions, engage the full team, name your plan to double. There are always a few companies in each sector that seem to defy gravity in slowing economies. Decide now this is going to be YOUR company.
Scale Your Sales
One of the most amazing aspects of being a Business Coach working with growth companies is seeing patterns and issues that most companies face. For companies in the $5M to $15M revenue range, the major thing holding the company back is the inability to Scale Sales. As I have said before, the strength of the entrepreneur or founding team is generally the weakness of the organization. So are YOU the bottleneck?
Scaling Sales can be a complex topic for sure. And company leaders today are tasked with having to sort out all of the advice, sales channels, strategy, etc., on their own. There is not much coordination going on, and everything is a test to see what might stick.
Here are 9 questions to ask yourself and your leadership team to begin Scaling Your Sales:
- Is your strength in sales holding the company back in developing its own sales muscle?
- Do you have your Core Customer’s buyer persona clearly identified? (If you’re not sure, request our free Breakaway Move toolkit – Part 2 of the two-part series will help you with this critical task.)
- Is your company Referable? (This means you’re doing great work!)
- How does your Core Customer buy? How do they learn? How would they find you?
- Do you realize it takes more than just a website to Scale Sales?
- Does your company have clear differentiators? Are you easy to find in a crowded field?
- Do you have (or are you prepared to hire) more than one sales person? This reduces the risk of starting over if your sole sales person leaves.
- Can you outline the difference between Marketing and Sales? (Hint: marketing sets the stage for a sale.)
- Have you created a buyers journey? How are your prospects going to participate in the sales cycle?
(Image: Theplatypus / Pixabay)
Create A Personal Race Plan To Win
It’s hard to win a race without a plan. This is pretty much true whether you are lining up in a mountain bike race with a bunch of hammers or trying to grow your business.
A personal “Race Plan” drives each employee’s priorities within their job function AND drives the priorities of the overall business.
If you’re not sure whether your team members are operating with personal Race Plans, here are the questions you need to think about:
- Do each of your employees, or at least your key employees, have a personal Race Plan?
- Do they have a Race Plan for each quarter?
- Has their plan been shared with the team?
- Are they tracking their plan, publicly leveraging peer accountability?
- Is your team helping each other when things fall behind?
- Do you (the owner/leader) know when plans are going off track early so you can implement easy fixes vs big cleanups?
On Your Mark…
Here are some steps or ideas to create and implement strong Race Plans:
- Recognize Race Plans are usually the last thing to get done during a quarterly or annual planning session. Everyone is mentally tired. Create a nice break, have some snacks, get up and move around, and create extra time to get Race Plans completed. Creating personal priorities is one of the most difficult functions the brain does, and you are asking it to work full throttle during a low-fuel time.
- Have your employees think about their personal quarterly priorities BEFORE the planning session. They may change during the session based in new input, but having a head start will pay dividends.
- Have each person spend 15-20 minutes quietly and individually working on their plan. Next have them meet in groups of three to discuss their plan, challenge it, and make sure it looks right.
- Have each person tell the full team their #1 goal and #1 priority for the next year or quarter. Does what they shared drive their Role or Function AND the overall priorities of the company?
- Create a display and a meeting rhythm to keep the Race Plans alive. If you are using a Green-Yellow-Red methodology to identify task status, just discuss the Yellows and Reds (the things that are due or overdue).
- Use the Race Plans as a mechanism to create team building and collaboration. Someone offering to step in and help move a Red task to Green is a beautiful thing.
- Encourage people to code Red things early. Don’t be caught off guard if a priority is in trouble. And really brag on people who are willing to help move priorities out of the Red. Make them look like superstars!
Race Plans win races. Help your team drive performance at the personal level and up and out, all through the organization!
(Image: Skeeze / Pixabay)