Several years ago, I read the book What Got You Here Won’t Get You There by Marshall Goldsmith. This book is one of many that has helped me shape much of my business acumen. In this book, Goldsmith teaches how previous successes often prevent us from achieving more success. As I reflect over my personal business experiences and the experiences of other CEOs I’ve coached this past year, I realize the common theme was to let go of the vices that helped achieve today’s success and build new avenues that lead to greater success.
Below are the five key lessons which were revealed in 2015. Learning from these lessons will help us move the needle and create the avenues that lead to greater success.
The time is always NOW even if you are not ready. There is nothing more frustrating than to have a great idea, map the plan, but falling short of executing in the name of waiting for the perfect time. There will never be a perfect time. With any launch, there must be a beginning. The time to launch will always be now. You have to take the leap while you have the momentum, buy-in, and insight. You can build as you go. Anything and everything can stand a little enhancement. There is a huge cost to waiting for the perfect time. Be willing to take the risk of starting and improve along the way.
“It’s Just Business” ruins partnerships. Every time I hear the words, “it’s just business”, I cringe. Those words generally serve as justification for the actions that preceded them. Sometimes, it’s not just business. Business is about building relationships with those you know, like and trust and those who know, like and trust you. To preserve the reciprocity of those relationships, longer term consequences and ramifications must be analyzed before action is taken in the name of business. Every decision that is made at the Executive level has a lasting impact on the business and its surrounding relationships. Making a critical decision without considering the fall out may ruin a partnership with employees, customers, or other strategic partners.
The difference between a billionaire and a millionaire is mindset. I had the phenomenal opportunity to learn from some of the greatest billionaires this fall after attending the Iconic Conference. We learned how some of the Nation’s most savvy business men and women grew and sustained their businesses. At the end of the day, their methodologies and philosophies weren’t very different from other CEOs who manage on smaller scales. In fact, mindset appeared to be the only significant difference. Each billionaire started with I can do it, proceeded with I will, and in short order with it’s done. Instead of succumbing to obstacles and challenges, they surrendered to the lessons and built pathways to success. In other words, they did not delay due to their fears of failure and giving up was not an option.
Nothing is perpetual. For many CEOs, retention is an objective and part of the organization’s strategic plan. However, retention alone makes the organization stale and ultimately harms the business. For retention to be effective, a succession plan must go along with each new hire. The organizational assessments we performed this year revealed that an optimal lifespan exists with every position. Any one person that remains in the same position beyond the optimal lifespan begins to reduce the odds for creativity, motivation, innovation, and ultimately, success. An effective retention plan prepares to promote or shift individuals into other opportunities within an optimal timeline.
To be front of mind you have to be front of mind. Business happens by the millisecond. Your intentions will be forgotten if you don’t stay in front of those that matter. It’s a critical component of business, but one that is often overlooked, to systematically reach out to customers, employees and strategic partners on a regular basis. Relationships and partnerships can not be taken for granted. Staying in touch helps to check the pulse of the relationship and get ahead of any changes that may be on the horizon.
Begin with the end in mind. Never negotiate without doing your homework nor without knowing what you want in the end. Without those two ingredients, you will be left holding a bag of rocks. Once you know what you want, it’s difficult for anyone to influence your decision. Get in touch with your numbers and know your drop dead points. Be prepared to walk away if you are not able to negotiate acceptable terms.
Everything rises and falls on leadership. Transition is soul searching. Embracing change is gut wrenching. But at the end of the day, it always comes back to the leader. When things are out of kilter, check your own pulse. Any gaps between your personal and business objectives need to be addressed. As a sole being, synergistic balance must exist between personal and business. It’s important that you know what you want, what you like and what you love. Determine what you stand for and what you won’t. Checking your pulse allows you to move forward with intention, with a clear vision and your eyes wide open.
Hopefully you’ve gained insight as a result of the lessons I’ve learned along with other CEOs I’ve coached. Therefore, I challenge you to consider how you can make changes in your business in each of these areas before you move into the new year. What will you change?
Please watch the following video to learn how we’ve helped CEOs get back to the heart of business.
About Lisa Anderson and Anavo Transformation Solutions LLC
Lisa Anderson is a Certified Public Accountant, Certified Leadership Coach and the Founder and CEO of Anavo Transformation Solutions LLC which helps CEOs achieve their full potential and build profitable, bankable, scalable, sustainable, and ultimately sellable businesses. The home of the P.U.L.S.E. Profit Method For Today’s CEO, Lisa and her team of Strategic Business Advisors help organizations plan their vision, understand key impact indicators, leverage resources, scan opportunities and threats and execute their plan. For close to 30 years, Lisa has helped hundreds of business grow while maintaining a healthy and profitable bottom line.
Lisa D. Anderson Small Business Consultant & Growth Strategist Anavo Transformation Solutions LLC
Lisa Anderson, CPA & Author
As a business owner, consultant, coach, strategist, author, wife, mother, daughter, and friend, Lisa enjoys sharing her ideas about life and business. Her passion for the growth, profitability and success of small business is evident in her 30+ year career serving the small business community. Scaling business is her passion and giving black coffee conversation helps her get to the heart of business. Lisa will definitely help you mind your mission, increase your mojo, and get beyond the plateau and on your way to profiting.