1. Do You Have the Right Strategy and Top Objectives, supported by the Entire Senior Management Team? Start here before looking any deeper. If there is any uncertainty in this area, everything else is at risk. Your strategy must provide clear direction in concise language that’s easily understood by employees, shareholders and customers alike. Ultimately you have to achieve your profitability objectives. If your strategy doesn’t produce sufficient profits, then you must either reduce your cost structure or develop a more profitable strategy. Either way, take specific actions. Don’t sit around and wait for something good to happen. The “we could get lucky” approach will only get you into deeper trouble. Deconstruct what’s wrong and fix it or get out.
2. Do you surround yourself with smarter people? Each of your direct reports should be giving you sound ideas that you never knew were possibilities. And, given the choice would you pick that person again to be on your team in the same position? Use these criteria to build your team.
3. Do you have formal monthly operations review meetings? This is one of the most effective ways instill accountability and consistently achieve the organization’s objectives. It’s the perfect forum to review results, remove roadblocks, ask for assistance and hold people accountable for producing results.
NEXT WEEK: More leadership self-appraisal questions!
Bob Prosen is president and CEO of The Prosen Center for Business Advancement®, where he teaches business leaders how to rapidly increase performance and profits. He is listed in The International Who’s Who of Entrepreneurs. Visit his website at www.bobprosen.com.
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