My top 5 core values: #4 Quality of Execution

Now that we got all our planning under our belt, it is time to focus on execution. And nothing is more rewarding that achieving flawless execution; reaching high standards of delivery.

Making sure that everyone is following the plan
You spent a good amount of time to create your launch plan, you need to make sure that you have the right process to track progress and be confident that things are being done as documented. Just like the maestro conducting an orchestra, you want to keep everybody in line; this of course assumes that everybody knows his or her part.

Things don’t always happen as you planned them
No matter how much planning you do, you will have unpredictable events down the road. Expecting that some things will go wrong can actually get you more prepared and face adversity. But this is only possible if you have “free” time to take care of these problems. Again this is where good planning will support quality execution – letting you focus on items that truly need you attention.

Demand more, expect more
No matter how successful you are executing, you can always improve on things. Take the time to make sure that your employees are rewarded on their good work but also provide feedback on how you want things to be better next time. Make sure that everyone can see how he or she can execute and succeed even better. As much they are feeling part of the solution, the more they will be inclined to push their limits and seek to better perform, better execute.

Perfection is not instant, take your time
While I believe in quality of execution, this never happens at first and expecting so will result in frustration and failure. By supporting and coaching your staff, you can show them the right direction and guide them towards perfection. It will take time and energy but by enforcing a deep desire of reaching high quality of execution, you will feel a great impact to your business; and things will just keep getting better and better.

Satisfaction in a job well done
By rewarding quality in execution and supporting your team in achieving excellence will make your company run better on all cylinders; building a machine that will be hard to stop or beat.

Next and final Core Value: Communication, communication, communication

My top 5 core values: #3 Plan First, Act Second

As a chief EXECUTIVE officer runs most companies, running a business is all about execution, right? Well yes and no….

The importance of planning
To flawlessly execute without proper planning is almost impossible. As we like to say, the devil is in the details and unless you have thought about it before, you will most likely have problems executing with you will hit some bumps in the road. The better your planning is, the better your execution will be.

Planning takes time
No matter how much you want to “wing it”, planning requires time (and patience). Always allocate extra time for your planning process – whether is it to reveal a new product, announce a new acquisition or launch a new sales tour. And the more complex is what you are trying to accomplish, the more time is needed.

Planning is about sharing information
How many times have you seen an execution fail because one person did not fully understand their role? Or that something was not done (oups!)? Or you sent the press release too early (ouch!)? A good plan helps to make sure that everybody is on the same page. Throughout all the mergers and acquisitions I have been thru, I have gotten to appreciate the importance of a good plan. The better everybody knows what they have to do, the better the execution will be.

Plan first, act second
No matter how much time your planning takes, do not start acting or executing before you’re done. Once the wheels start turning, it is very hard to stop the machine. If you’re running out of time, it means that you did not allocate enough time (or energy) to your planning process.

Indeed, once you have the right plan, you can get everybody to start executing. Then all you have to worry about is that everybody are executing to plan …

Next Core Value: Quality of Execution

My top 5 core values: #2 Challenge Status Quo

Ok now we’ve got ourselves in thinking differently. That’s a very good thing. This will allow you to find new and innovative solutions to well documented market problems. Next on my list or Core Values is all about making your business run better. Here I am not talking about fixing your weaknesses but rather to Challenging Status Quo.

Don’t leave no stone unturned
I always like to review every bits and pieces of the business. I want to make sure that everybody understands why we are doing things. Never assume that how we do things is the right way. Unless you challenge status quo, you will never find out what could be improved.

Knowing does not mean you must fix it – at least not yet
Ok, so I am not crazy. I believe that challenging status quo is a good thing but this is not a permit to redesign everything all the time. It just means that you know why you are doing certain things. They might not be perfect but at least you don’t just assume that things all just fine and dandy. Beyond the challenge, you can only pick the right battles and fix what really needs fixing.

Nothing wrong with asking questions
One of my tricks is to frequently ask questions, why are we doing certain things? Could we do it better? Is they’re a more efficient method? Some might say that this is being never happy with things – but for me it’s more about understanding. Do you really understand your business and what people are doing (or trying to do) in order to make the Company successful?

Challenging is a quick process
This does not mean that you are putting in place senatorial committees. Many times, a challenge can last a few hours of a few days … once you achieve understanding or are happy with the answers; there is no need to go deeper. This sometimes require playing dumb – don’t behave like you know and are aware of everything.  Not being 100% aware can help you ask better questions and get ultimately better answers. Nobody is interested in talking to someone that already knows about things …

Ultimately, this is all about being curious, never assuming that things are all 100% ok and seeking to find answers in order to better understand your business. Think of this as fine-tuning a high performance Formula 1 engine… Things are never done.

Next Core Value: Plan First, Act Second

My top 5 core values: #1 Think Different

You should never try to do things like others are doing them. The only exception would be if you had a true distinctive competence that will allow you to be a copycat (better distribution, sustainable pricing advantage, branding, etc). But this is rarely the case for the majority of companies.

Start by finding a real problem
Too many times, we start by idealizing a solution that sounds very exciting only to realize that there is no need for this product. Make sure you have identified a real market problem. For example, your customers might be challenged in better managing their manufacturing process as well as struggling when dealing with third party suppliers or offshore sites. What are the problems that they are facing? Where is there value for them (or loss of productivity) that would allow you to monetize?

How can you solve this problem differently than your competition?
Look at what your competition is doing, what is working? What are their weaknesses? How can you develop a solution that is both unique while better solving the customer problem? While this is not easy to do, it is the key to building better products…

Why a Core Value?
I believe that is a key driver of many great innovations and this cannot happen in a vacuum. You need to allow Innovation across the company. But this is not a permit to procrastinate or waste valuable cycle in a research lab. I am talking about Innovation in the sense of thinking different. This is about using creativity to finding solutions to any kind of problems. It does not need to be ingenious, just different.

Different is not always that far from Normal
Sometimes just little details will make something different. It does not need to be drastic. Always seek that little extra element that will create uniqueness for your business. By making “Think Different” a Core Value of your business, you will get that extra creativity that will allow you to differentiate your Company – without preventing you to properly run your business.

Next Core Value: Challenge Status Quo