As the end of 2014 approaches a little introspection is in order.
As a business owner, some
of your fundamental roles include:
- setting goals
- interviewing and hiring
How are you doing so far this year regarding your time in these areas? Ask yourself a few questions:
- have you spent adequate, quality time planning the future of your business?
- have you spent adequate time coaching and developing your team (or having it done)?
- are you on target for all of your management and self-improvement goals?
- have you been able to manage your attitudes consistently regardless of what was happening around you?
- did you see change as your partner and embrace it…or has it become your adversary?
- are you leaving any unfinished business behind as you move into the second half of the year?
- have you been communicating your goals, strategies, plans, and objectives clearly to your team?
- have you handled all of your team member’s challenges successfully, and in a compassionate and timely manner?
- have you set clear goals for the rest of the year?
- are you in touch with the realities within your organization and your marketplace?
- if you could, would you reverse or change any of the significant decisions you made during the first half of the year?
- if you could begin this year over again, what is one thing you would do differently?
A critical skill necessary for success as an owner is the ability to honestly evaluate your:
- personal development progress
Work on expanding this list. Set a target of 50 more questions that will help you get a better handle on your organization and yourself.
You might think it is a little early to begin this process, since it’s only the beginning of November…but we all know it’ll be the end of the year before we know it. How you spend the next several weeks could make or break your goals, your hopes, and the success and direction of your company for the balance of this year and planning for next year.
And that’s worth thinking about…
I was saddened to learn of the passing of the great comedian Sid Caesar, he was one of my favorites. While reading the obituary in my local newspaper, I realized that one of Sid Caesar’s major pioneering milestones led to a business problem that business owners and leaders can learn an important lesson from.
On January 28, 1949 Sid Caesar’s first TV comedy-variety show, “The Admiral Broadway Revue,” premiered. The show was sponsored by Admiral Corp., a manufacturer of home appliances, including TV sets. Sadly, the show only lasted until June 3, 1949. The show was a victim of its own success, cancelled mostly because Admiral could not keep up with the demand for its TV sets generated by the show.
So what is this important business lesson? While coaching my clients who are planning a new initiative, be it a marketing campaign or a product introduction for example, I often ask “Are you prepared for this to work?”
Is your team prepared for the additional volume? Are your factory and distribution channels prepared? And so on. It is often said that business is all about managing risk, and so many business owners and executives I find, focus only on the negative risks of business. “What if this doesn’t work?” “What if we fall short of our target?” The lesson here it that there are also positive risks that need to be considered when planning anything in business. “What if this works?” is one of my best coaching questions. You should be asking yourself as many positive “What if this works?” questions as negative “What if this doesn’t work?” questions.
Sid Caesar, thanks for the laughs, and thanks for your tremendous legacy in entertainment. The entertainers who were influenced by you continue to make us laugh and smile.
By the way, while researching this blog post, I found the following link to videos of “The Admiral Broadway Revue.” https://archive.org/details/AdmiralBroadwayRevue