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Win With A Coach

Win With A Coach

By Robert Fish and Jeanne Clary

board-784363_1280When I talk to someone about Insight CXO and Gazelles, they often want to know what makes us better than the many other business growth coaches and methodologies out there. Even if they are familiar with Verne Harnish’s books, Mastering the Rockefeller Habits and Scaling Up, or the Rockefeller Habits in general, they’re curious about why I, as a successful serial entrepreneur, have fully bought in to the Gazelles approach to growing a business — and why it works.

About a year ago, the owners of Kernersville, N.C., based EFI hired me to help them grow their business. Sometimes when a business owner brings me on as a business coach, the employees get anxious to know what that means for their jobs. Change is tough and the fear of unknown change can be even harder.

That’s one reason why I think the referral letter below from EFI employee Jeanne Clary is so powerful. She didn’t choose me or Insight CXO to come into her office and change their business, and she recognizes that the work to change isn’t easy — but it’s totally worthwhile. Please read what she has to say (below the picture of EFI’s team), and please let me know if you have any comments or questions.

— Robert

We contacted Gazelles and were introduced to Robert as one of their “best.” They provided us a couple of names to contact and interview. We started with Robert, as he was in N.C. He came to our office just about a year ago and spent a few hours with our team, and the rest is history, we never felt the need to interview anyone else. He is now a part of the family. It took us, EFI, several months to get our ducks in a row, prayerfully decide that we were truly ready to make changes, and then clear our calendars, as it would require a lifestyle change for our entire team.

On January 9, 2015, we met with Robert off campus for our very first planning team meeting. To say this was easy would be a fallacy. This meeting was hard, as we truly had to look at ourselves and say “wow, we don’t have real focus and direction, we are not on the same page, nor have we really defined who we are and where do we want to go.” OUCH! Do not get me wrong, Robert did not crack a whip, he just helped open our eyes. The meeting itself was educational, team building and fun, but with a big dose of reality too.

Since those initial meetings, we have meet daily as a team, monthly with Robert, have learned the Gazelle “lingo” (Rocks and BHAG were not part of our daily vocabulary), drawn a clear picture that the entire team looks at and sees the same thing, met opposition and worked through, launched a corporate-wide core values program, hired a quality manager (in less than three months reduced our scrap rate by 25+%), improved productivity and employee involvement considerably … the list goes on.

To say, “this is all a result of “Robert,” you would probably say “that seems like a far stretch,” and I would have to agree with you. BUT it IS a result of Robert coming alongside us, our talents, our values, our experience, etc., and guiding us, encouraging us, holding us accountable, reprimanding us (in his very gentle way when necessary), and being available to talk us through situations, push us back on track when necessary, etc., that we can truly say that is the value we have experienced through hiring Robert as a coach.

EFI is moving on the right path, we are growing with direction and focus, we are changing our lifestyle and way of doing business. We look forward to continuing our relationship with Robert as we continue to grow and take the next steps in increasing the value of our growing company through the Gazelle teachings.

— Jeanne Clary, EFI

Stable Team

How To Stabilize Your Executive Team’s Ship

Stable Team

Recently, Gazelles founder Verne Harnish highlighted a Fortune magazine article on the CEO of Airbnb, Brian Chesky. When the author, Leigh Gallagher, asked the CEO about his leadership style, Chesky drew a ship. “As CEO I’m the captain of the ship,” he said, and his primary job is to look for things below the waterline that might sink the ship. Above the waterline, he focuses on two or three things that he’s really passionate about and feels that “they can truly transform the company if they go well.”

Most companies don’t maximize growth due to internal problems – the below-the-waterline issues that are hard to see. I help my clients focus on one Internal risk and one External risk, and the most common thing I see is a dysfunctional Team #1. So, I think the No. 1 concern for a CEO should be the Health of Team #1.

Team #1 is the executive team. As humans, we are all imperfect. We can all communicate poorly, be passive-aggressive, seem agreeable on the outside but non-committal on the inside … and even just a little weird at times. So by default, all teams are dysfunctional. It’s really a question of how dysfunctional.

As Team #1 goes, so goes the rest of the company. If Team #1 can’t synchronize and work together cross-functionally, the teams below them will not work well, either. Is sales not working well with IT at the functional level? Trace it back to leadership.

I think that continuously working to make Team #1 healthier is a sustainable competitive advantage. Is your competition looking below the waterline like you are? Are their teams (especially Team #1) as healthy as yours? Are they working together cross-functionally and getting tons of stuff done drama-free?

How to Get Team #1 Sailing Together

Here is a starting point to get Team #1 sailing together.

First, have your team read The 5 Dysfunctions of a Team by Patrick Lencioni. After reading the leadership fable, ask your team if they can identify with any of the characters in the book.

Then do a Team Effectiveness Exercise. Gather your executive team around the table and have each person share two things that the CEO does that ADD to the effectiveness of the team. The CEO can ask clarifying questions, but should otherwise not respond. After all team members have spoken, the CEO can share insights into what he or she heard and learned.

Then, repeat this process for each team member. At the end of this part of the exercise, each member of the executive team will have shared two things each team member does that make the team more effective.

Next, go around the table, again starting with the CEO, and have each person share two behaviors that DETRACT from the team. Personal attacks are off-limits, and the moderator must be watching for potential attacks against a person versus talking about the behavior.

After everyone has shared two ADDITIONS and DETRACTORS for each person, have each person identify and share ONE THING they are going to commit to improving over the next 90 days to increase team health. Write the commitments down, and in 90 days, ask the team how each team member is doing. This drives accountability and action.

Sound scary? For some it is. Don’t cave. You’ll be surprised how many behavioral epiphanies people have. It’s hard to fix what you don’t know about.

A Success Story

A great example of this method in action is an accounting manager at a fast-growing Insight CXO client. She was new to the company and still getting acclimated when we went through this exercise. The Addition feedback was that she was highly trusted and the books were in great hands. This surprised and pleased her – she had put tons of pressure on herself and thought she was not doing a good enough job. But a Detractor theme was that she was not approachable. People were not comfortable walking into her office. This mortified her – she had no idea this was what people thought, and she committed to being more open and inviting. It was a very easy change once she knew what people were thinking.

The below the waterline example here shows an A-player who thought she was performing at a C-level, so she was unintentionally behaving in a way that limited communication.

Remember, the best team wins. Commit and take action to build a healthy Team #1 and unlock your company’s growth potential.

5 Ways to Increase Profit This Year

5 Ways To Increase Profit This Year

By Robert Fish

Your company is growing, your team is adding clients and your net income is growing in terms of total dollars – but not in terms of net-income percentage. Companies that are growing and really focused on client acquisition usually see negative pressure on net-income percentage – much to the CEO’s frustration.

Get Busy

Here are some things you can do RIGHT NOW to grow revenue AND grow net-income percentage.6551520247_ae0315efb8_z

1. Look at your client mix. List all of your clients on a spreadsheet, then ask the following questions:

  • Which clients produce the most revenue? The most gross profit?
  • Which ones require the most management time? The most staff time?
  • Which ones have the most growth potential?
  • Which clients are absolute pleasures to work with? Which ones just drive you and your team nuts?

2. Look at your data objectively and figure out your Top 20% clients. This will help you create your “Top 20% client profile” -– the types of clients that you want more of.

3. Identify the decision makers at the Top 20% clients and begin to create a Buyer Persona. Think about: What are their habits? How do they buy? Where do they look for information? What groups do they belong to? What are their needs and their biggest problems to solve?

4. Focus your sales and marketing efforts on prospects that fit your Top 20% profile, and leverage their typical Buyer Persona into your sales process and messaging.

5. Stop lowering prices to get a deal and stop giving away margin!!! Your targeted group appreciates you and your firm and is willing to pay optimal profit for your products or services. You have already proven it with the spreadsheet you developed. This is also a great time to raise prices.

At the end of the day, without making any additional investment in operations, product delivery, etc., just by getting more focus on WHO you are selling to, you are automatically increasing the value of WHAT you are selling because this group VALUES what you are selling more than others who are willing to buy, but only at a discounted price.

Another net-income percentage benefit is that this targeted group is easier to service. Your core product or service is already exactly what they need. This saves huge amounts of time, but that does not show up easily on any of the P&L statement line items … just net income.

Ask The Question

Get your team together at your next Quarterly Planning session and ask the question:

“How can we get our net-income percentage from X% to Y% by the end of 2015?”

Don’t shoot for the moon. The objective is getting your team aligned around some key priorities and focused on execution. Results drive engagement.

(Image: 401calculator.org / Flickr)

Eliminate The Fear Of Focus

Businesses have natural growth curves just like people or animals or plants: When they’re new, growth is exponential, but within a short time it slows.2902351751_c30aacdaf8_o

Most small to medium-size companies start with very healthy growth. Systems and processes go on the back burner as the drive for new customers and new revenue streams heats up … but then revenue plateaus, seemingly for no reason.

There is usually an inflection point where the growth stops and complexity begins. It’s the nature of how companies start and grow, and it’s not a reflection on the founders or management. But it’s a major reason why there are so few U.S. companies that exceed $10 million in revenue.

The most common root cause for this plateau is that the company is trying to do to many things well, and operationally it’s spread so thin that mistakes happen, re-work is abundant and the once-common referrals stop coming in.

How To Break The Plateau

The answer to this problem is Market Focus. The management team must Crush the Fear of Focus with a Breakaway Move to return to Gazelle-like growth … 15% per year or more.

A Breakaway Move has 4 major components:

  1. Extreme Focus on the Core Customer’s persona.
  2. Extreme Focus on the market segment you want to own – a segment that you’ll be aggressive with a “play to win” (vs. a “plan not to lose”) mindset.
  3. Extreme Focus on solving your Core Customer’s NEEDS – not WANTS – within the market segment.
  4. Extreme Focus on operationally tuning the organization to deliver like crazy for this specific customer group.

Don’t stop doing all the work you are doing for existing clients and risk cash-flow problems. Instead, intentionally focus all of your sales and operational focus on a Breakaway Move that will result in more revenue, higher profit margins, more referrals and (best of all) happier employees.

Work with your team to discuss these 4 steps; you’ll begin to overcome the Fear of Focus once a real plan is in place. You’ll naturally start saying “no” to more things and “yes” to the opportunities that drive your economic engine.

(Image: Dimitris Kalogeropoylos / Flickr)

Win With Awareness And Focus

I’m just beginning to mountain bike race again after recovering from a second neck surgery. Rather than restarting in a class better suited for my racing re-entry point, I have chosen to line up against the top Pro/Elite racers in the region. These dudes are FIT and FAST…. “dialed-in” as we like to say in the mountain bike racing world.

Last week was my third race back in the mix, and historically I’ve done pretty well on race No. 3 coming back from time off. Not this time. I’m starting to race

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I was in third place going into the woods on lap one and hung on for about 15 minutes… then I faded fast and lost the front group. I was in the dreaded “no-man’s land” for most of the race. I was out there by myself with no rabbit to chase (I could not see the front group), and the group behind me was out of sight as well. This is where the negative side of the brain really kicked in.

“This hurts way too bad, it’s too hot, they guy leading out is 20 years younger, pull over after this lap and quit!”

Fortunately I didn’t listen.

Lessons For Business

Just like in a mountain bike race, it takes AWARENESS and FOCUS to win in business when you feel like you are in “no-man’s land” and want to quit.

1. Awareness – Separate yourself from your situation and accept the fact that your negative brain has taken over the conversation. Replace the negative soundtrack with a positive one. Remind yourself why you’re racing, why it’s important to finish the project. Think of the lessons you’re learning that will help make you faster in the next race, the next project… or in the next quarter.

2. Focus – Refocus and re-energize by being aware of where you are and giving yourself control to have a good outcome, even if it means making an adjustment to your intended final result. In my race, I changed my focus from leading the race to not letting the group behind me catch me. And with this focus, I was able to raise my heart rate, get the adrenaline flowing again and push down the pain.

2.5. Never Quit – In racing we call quitting a DNF (did not finish). Always finish the race, no matter what. There are more lessons in not quitting than there are in winning. One thing I have learned is that when the race is over, it’s over. No going back. No second chance to change a decision. And the pain is gone in less than 10 seconds. Don’t let your negative brain win, though it’s very convincing. We are hard-wired that way, but a key to success is overcoming it.

In our professional lives, even with the best plans and preparation, things don’t always go the way we plan. Sometimes problems are just speed bumps that slow you down, and sometimes they seem like roadblocks that make you want to quit.

But ultimately it doesn’t matter how large the obstacle is. When things aren’t going as you’d envisioned, tap into your Awareness and Focus, shut down the negative brain, keep going and find a new way to win.

(Image: “MTB downhill 19 Stevage” by Steve Bennett. Licensed under CC BY 2.5 via Wikimedia Commons)

6 Questions To Crush The Competition

In today’s globally connected and competitive business climate, it’s no longer enough to look at strategy on an annual basis. Nowadays, every single month executive teams need to integrate strategy development within the business planning rhythm.

The key to unlocking strategy is answering a powerful question that gets the team thinking in unique ways. But a common “stuck” in strategy development is figuring out the right question to achieve your Breakaway Move to crush your competition. Answers are easy; getting the question right can be harder. Here are 6 questions to ask your team during strategy brainstorming sessions that can unlock hidden value inside your business.

1. Where is the next battle going to be in your business?racing-car-373757_960_720

A good example is Facebook’s massive focus on mobile after they went public. Facebook CEO Mark Zuckerburg’s daily question, “how are we going to leverage mobile,” became his, and his company’s, daily question. Clearly, it’s working.

2. What has been tried before, either by your company or by your competitors, but did not work?
There are so many variables that can make an initiative really stick vs. flat-out fail. Failure does not always mean the idea was not good. For example, it could have been the wrong person leading the charge, market conditions might be different, technology could streamline the process, global platforms like LinkedIn and Facebook could accelerate growth.

3. What two or three existing things in your business, things you are already doing, can you combine?
This is one of my favorites. Take two existing things and create something original. What product and service can you combine and create a unique new product, service or program?

4. When your company wins, what other companies are impacted in a positive way?
Think about what relationships you can create – or what product offerings could you integrate with – to expand your market faster by leveraging other people’s trust relationships? I looked at office space this week to handle our expansion. I could not help but think about all the other things signing a lease would trigger, things like construction, IT, phones, furniture, etc. Building relationships with those companies can result in more referrals to your business.

5. What is fragmented in your market, and how could you coordinate it?
Think about what Uber did for taxi services and what Airbnb did for housing rentals. What is messy, hard to do, clunky, expensive or frustrating in your market, and how could you fix it? What product, service or platform could you create?

6. What can you be the only option for in your space?
Think about what parts of your business operations are hard for someone else to reproduce or copy. For example, there are several business coaches in the Charlotte metro area. But only Insight CXO has a team in place that can help execute the business plan in three areas. The Promise – what makes your firm unique and what is the sales engine to generate revenue? The People – is your team healthy and aligned and do you have systems in place to hire and keep A Players? The Process – do you have core processes documented and measured to make them better, faster and cheaper… with less drama?

Remember that your competition is not asleep behind the wheel, so your team has to be looking through the windshield and down the road as far as possible. Try asking these 6 questions in your next monthly executive planning meeting, and see if you can figure out the strategy – the one that will give your business the boost to crush the competition.

Image: Jingoba / Pixabay

Real Leaders Find A Way

Getting Core Values right in a business is the #1 way to build a strong and enduring Culture and is the foundation upon which an enterprise is built. Having a list of cool Core Values on a website – and really integrating them into the daily life of the organization based on intentional actions – are two different things.

EFI, an Insight CXO member with 80+ employees, finally nailed their Core Values and actions plans this week during their Q3 Quarterly Planning Session. We started the process in January, and I thought it would be helpful to share what a process can look like in reality. Month 5 is where this gets powerful.

Month 1 – Learn what a Core Value is and use sticky notes to generate a list of potential values.14485059353_8d009d4eb3_z

Month 2 – Review the list and test it against the following questions.

  • Are the Core Values alive in the company today?
  • Would you fire an offender for repeated violations?
  • Would you take an economic hit to defend them?

Some values are great attributes, but don’t make the Core Values cut.

Month 3 – Finalize the 3-5 final Core Values. We know the right values are identified, but the wording is not perfect.

Month 4 – Get the wording right for the Core Values, and get clarity on the specific behaviors and actions that support or violate each one. Begin thinking about how the values will be integrated into the company.

Month 5 – Roadblock!!! EFI’s planning team was supposed to start implementing the Core Values, but even though the values LOOKED right, they did not FEEL right to the team. The team was concerned the employees would not embrace the values and might even reject them. This is a common FEAR in rolling out Core Values that nobody talks about.

Here’s where EFI knocked it out of the park. Admittedly, the team was a bit discouraged, so they really dug and – with great focus – re-worded the values. They did not change the values, just the labels. Here’s what they came up with:

MAKE A DIFFERENCE – This is their overarching, one-phrase Core Value.

Respect every Individual

Lead with Humility

Focus on the Improvement Process

Assure Quality at the Source

Winning Attitude

To help everyone remember, they turned the first letter of the Core Values into this mnemonic: Real Leaders Find A Way.

Month 6 – Create a list and an action plan to integrate the Core Values into the company with real excitement. I will report back in a follow-up blog post on the cool and innovative ways they implement the Core Values.

EFI’s Core Purpose is To Inspire Through Innovation … I can’t wait to see what they do next!

My “One Word Close” at the end of our Q3 Quarterly meeting was GRATEFUL. I’m grateful to be EFI’s coach and get to witness a team who really cares about their employees and was unwilling to move forward with Core Values that did not 100% meet their standards.

Sometimes as a coach I learn more from my members than they learn from me. And I’m very grateful for that.

Image: Flickr

FUEL UP Your Growth Engine

General Electric’s GE90 class jet engine is powerful enough to power a Boeing 777 airplane in flight for over 5 hours … on just ONE engine. GE is relentless in its engineering efforts to continuously create more powerful, safe, fuel efficient and light engines. But as powerful as this engine is, it cannot produce any thrust without fuel. It won’t even start.

Every company has a growth engine. But, in reality, leaders rarely take the time to inspect and tune it up for maximum efficiency. In a business, fuel is CASH. And the number one way to increase cash is to increase PROFIT.

There are 7 Levers that influence your Profit and Cash Flow, the fuel required to rev up your growth engine to maximum thrust.

Lever #1 – PriceGE-90_Engine,_Unknown_JP337557

Lever #2 – Volume

Lever #3 – Cost of goods sold (COGS) and direct costs

Lever #4 – Operating expenses

Lever #5 – Accounts receivable

Lever #6 – Inventory or work in progress

Lever #7 – Accounts payable

It’s easier than you think to take actions on these levers and increase your Profit and Cash Flow. The Power of One is a concept that shows how doing something to move those levers either 1% (on levers 1-4) or 1 day (on levers 5-7) in a few critical areas can lead to a significant increase in Profit.

Move The Levers

The Power of One One-Page Tool allows you to calculate the effect on your profit if you can move those levers either 1% or 1 day.

Lever #1 – Price: What’s the value of increasing prices by just 1%?

Lever #2 – Volume: What’s the value of selling just 1% more units at the same price?

Lever #3 – COGS: What’s the value of decreasing raw material and direct labor costs by just 1%?

Lever #4 – Operations: What’s the value of reducing overhead by just 1%?

Lever #5 – Accounts receivable: What’s the value of collecting from debtors just 1 day sooner?

Lever #6 – Inventory: What’s the value of keeping 1 day’s less stock/inventory on hand?

Lever #7 – Accounts payable: What’s the value of paying creditors 1 day slower?

I know what you are thinking. You already know all of this!

But the reality is, most companies don’t take the time to actually measure the impact these small changes can make. You can easily add 3% to your bottom line just by tuning your engine, making small and painless adjustments.

Put the Power of One into action with a simple spreadsheet that you and your team can use to measure the impact of the changes in each Lever. Assign a person to each lever, and create SMART goals and action plans to generate more profit to FUEL UP Your Growth Engine!

(Image: Dale Coleman / Wikimedia Commons)

Scale Up Faster With A ‘Play To Win’ Mindset

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One of the most challenging phases for CEOs or executive teams who start a company is to break out of the startup mindset.

In an organization’s early stages, it’s all hands on deck and everyone is a generalist, wearing many hats.

The CEO is involved in every decision and every transaction. The realities of cash constraints, funding payroll, etc. – and the whirlwind of emotions tied to them – are hard-wired into the entrepreneur’s brain.

Then, over time as the company grows, two things happen.

First, the company reaches a ceiling of complexity – things get harder and not easier. Hiring more people feels more like an anchor than a sail.

Second, the startup mindset and the emotional imprints it creates turn the founder(s) into a bottleneck, or the constraining factor to growth.

To grow, the CEO and senior team must become hyper-aware of how their past experiences can be limiters on future plans – and commit to change. Reading Scaling Up by Verne Harnish is one of the best ways to learn how to punch through the ceiling of complexity and continue to grow in a fun, healthy and drama-free way. BUT, the tools don’t work unless the CEO and senior team 100% commit to a Play to Win mindset.

What does Play to Win mean? It means NOT playing not to lose, which is an entrepreneurial trap. It’s why so few companies make it past the $10,000,000 revenue mark. To escape the trap, the next time you are having a growth- or strategy-related discussion, ask yourself and your team: “Based on the plans we are discussing, are we Playing to Win or just playing not to lose?” You’ll be surprised how the conversation – and your plans – can change with that simple question.

5 ways to create a Play to Win mindset

  1. Be very intentional about including your team in strategic-level thinking and problem solving. It’s hard to Play to Win by yourself … you’ll need a team.
  1. Realize that you and your team might not have all the answers. Look outside the organization for help. Hire an expert, coach, consultant, trainer, join a peer group, etc. An expense-centric mindset limits access to information and learning. Most high-growth companies are investing in resources to make big leaps.
  1. Imagine yourself winning. As a professional mountain bike racer, I can’t achieve a podium finish without first believing I can and imagining it happen. I let myself experience the start- and the finish-line sprint. Only then can I plan my Breakaway Moves.
  1. Use the term “Play to Win” with your team. They’ll get it. It’s energizing. Everyone loves to be on a winning team.
  1. Create an enemy. Create a race. Create a finish line. Create competition. High-growth companies create plans to crush their competition. Flat-lined and slow-growth companies stop competing, stop getting upset when someone else wins.

Create a Play to Win mindset for you and your team, and get your company on the podium every time!

 

Image: Skeeze / Pixabay

6 Roadblocks to Growing Your Business

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Companies often encounter barriers as they mature. Here are six big ones and how to break through them.

1. Not knowing your ideal customer

Customers aren’t all equally valuable; some can even be unprofitable. So CEO Scot Lowry of digital marketing firm Fathom, in Valley View, Ohio, had his CFO draft a profit and loss statement for each. That helped him phase out the costly customers — and identify the ideal ones, such as health care and financial services firms that need very customized service. “Our strategy is based on deep customer intimacy,” he explains. “We have to focus on select clients to deliver on this.”

2. Failing to scale systems

Many companies don’t want to invest in brand-new software for accounting, customer-relations management, and other operating systems as they grow because they’re pricey. But procrastinating will lead to chaos and mistakes when you need to tackle tasks that should be easy to do instantly, like updating customers’ addresses in all your records at once. If your company has hit 50 to 150 employees without upgrading its systems, don’t delay any more. It’s an emergency.

3. Using an old org chart

It’s tempting just to stuff this important document in a drawer and forget it. Don’t. With his now nearly 150-person team squabbling over priorities and resources, Lowry shredded his org chart and reorganized everyone into teams dedicated to specific accounts. He is listed at the bottom, with the role of helping employees serve clients at the firm, which expects $20 million in sales this year. “I stopped talking about my ‘direct reports’ and switched to calling them my ‘direct supports,’” he says.

4. Trusting your gut

In the startup phase, you’ve got to rely on your instincts because there’s no historical data to guide you. But intuition often deceives CEOs as their businesses become more complex, says Sunny Vanderbeck, managing partner at Satori Capital, a Dallas-based firm that invests in growing, profitable companies. If you’re not letting data drive decisions, such as what products to develop or which customers are worth pitching, he says, “you’re missing out.”

5. Letting your skills flatline

Companies often outgrow the founders’ ability to lead them because the CEOs don’t sharpen their management skills. “If your company is growing 30% a year, you have to be 30% better by this time next year,” says Vanderbeck. Learn from other CEOs by joining a peer group like Entrepreneurs’ Organization or Young Presidents’ Organization. “If you aren’t a learner, you are the reason the company isn’t as big as it could be,” Vanderbeck says.

6. Not investing in team training.  

Out-learning the competition is a powerful and sustainable growth strategy. To get everyone playing the same music, CEOs must focus training where the company needs it most. Studies have proven over and over again that training has the highest ROI compared to any other investment a firm can make. Jeff Frushtick, CEO of industrial equipment maker Leonard Automatics, found this to be true: Training employees on Lean production resulted in a five-fold increase in profits in a single year at the 35-employee, Denver, N.C., firm. Look into training that can boost your firm’s profits similarly.

 

Verne Harnish is the CEO of Gazelles Inc., an executive education firm. Robert Fish is founder and CEO of Insight CXO.

This blog is adapted from a story in the May 19, 2014 issue of Fortune.

Image: Nicholas Canup / Flickr