This blog was first published by Daniel Prosser on www.danprosser.com.
Every company leader wants to feel they’ve done everything possible to fulfill on their strategy every year. Leading studies show that while as many as 95% of companies have done the planning and created a cogent business plan or strategy, at least 87% of those companies won’t follow through and meet those goals this year, next year, or any year. And furthermore, it’s not the strategy that is usually at fault.
Keep this up every year and it won’t help that people, more likely your very best people, will ultimately begin leaving to find a better place to employ their talents. After all if you worked hard (and I think you are) to make a difference and it’s not working, what would you choose to do? It only makes sense.
You can do something about this in your company even if you don’t have all the right people on the bus just yet. Companies that have changed their thinking have put their companies on a course for actual 2 – 3X expansion of their current bottom-line performance. This is especially common among those companies known as ‘Best Places To Work’.
This is not fantasy thinking. Any company can do this. The difference between those companies who do it and those that don’t is those who do are willing to first uncover and confront what’s in the way, and then give up their current system of limited and limiting thinking. Gallup found that companies that do change their thinking see an average of 2.6 times more growth in earnings, 12% higher customer advocacy, 18% higher productivity, and 12% higher profitability. Every bit of those improvements wind up on the bottom line.
“Almost every significant breakthrough has been the result of a courageous break with traditional ways of thinking” – Stephen R. Covey
The companies who produce these kinds of results have first identified what is standing in the way of their forward progress and then – they shift their current thinking, they unhook their current model; they shift their current paradigms. They literally go to work to transform the way they are ‘being’ versus concentrating on what they are ‘doing’ as a company, by adopting a new system in which they’ve literally risked their present ways of thinking to build a more powerful and profitable future.
What exactly did they shift?
- An Awareness of the conversations and beliefs that undermine and sabotage future performance and a new Awareness of what is truly possible once that truth has been told.
- An enduring vision of the future that puts everyone on the exact same page; a future that empowers people, can’t be forgotten, and won’t disappear or go out of existence.
- A strategy that eliminates the need for survival tactics and empowers employees and other stakeholders to take responsibility for causing breakthrough results.
- A future-focused culture that gets the constraints left by past performance out of the way of having what you say you want and create the connections people need with each other and to the activities (roles/goals/responsibilities) that are consistent with the vision.
- An accountability system that gives people back their power to produce ‘real measurable results’ using a new structure to support what the organization is committed to.
The challenge in shifting to a future based company is to maintain accelerated forward progress. To do this the leadership have to give something up. They need to give up being right and believing they have all the answers.
Once they set their egos aside and are promoting a more relational culture, they can then stop managing people and start managing the promises people make as they establish effective accountability and become more effective at managing promises that close the gaps between what is possible and current performance.
To learn more about the conversations that can move a company into the top 13%, register for our Soundview Live webinar with Daniel Prosser: Become One of the 13% That Successfully Execute Their Strategy.