Tag Archives: Celebrate

How Do You Make the Most of Changing Your BHAG? Eight Points

Situation: A company recently changed their BHAG (Big Hairy Audacious Goal) to focus on premium customer acquisition, but as a small-to-medium sized company has a 3-year focus instead of the typical 10-20 year focus of a larger company. They want to make this a company-wide effort. How do you make the most of changing your BHAG?

Advice from the CEOs:

  • First, it is measurable and specific – grow to 10 times your premium current customer base in 3 years. Your marketplace is changing quickly, so a shorter-term BHAG makes sense. Call it your 10/3 Program or 10/3 Challenge.
  • Is it too shallow? No – this is something that people can rally around. It represents significant company growth.
  • What happens when you achieve the goal? Celebrate in a big way, and then set the next BHAG.
  • How do you create excitement? Every time you hit a milestone, bring in pizza, or conduct a special event. Celebrate.
  • Success = Change. What does that next milestone mean for the company and your capabilities? This isn’t just about new clients, but also includes scaling your delivery systems and customer service. Rally your non-sales staff around these important tasks.
  • Create milestones not just around sales numbers but also around timelines. Tie incentives to achievement of BHAG milestones.
  • Conduct a company meeting to announce the BHAG, and announce progress in future company meetings.
    • Progress against milestones.
    • Share pipeline data to maintain excitement.
    • Develop scale-up programs and share progress of non-sales departments as they ramp up services.
  • Think about building a competition around the goal. As long as this fits your culture it can add excitement to achieving both milestones and the BHAG itself.

Note: The term ‘Big Hairy Audacious Goal’ was proposed by James Collins and Jerry Porras in their 1994 book entitled Built to Last: Successful Habits of Visionary Companies.

How Do Small Companies Outsource Infrastructure? Eight Ideas

Situation: Start-ups and early-stage enterprises are typically both resource and talent constrained. The CEO of a start-up asks how others successfully outsourced infrastructure cost effectively and when they were early-stage so that they could focus on critical success factors and improve their opportunity to succeed. How do small companies outsource infrastructure?

Advice from the CEOs:

  • In the early stages of company development, outsource everything possible and focus our efforts only on the key functions.
  • In order to focus on the most important things first, decide what must be accomplished and when. Set priorities, establish key milestones and create a timeline to measure achievement. Celebrate your successes!
  • Identify the most important strategic foci within your business model and outsource everything else.
    • For example, use outside data centers instead of developing these yourself.
    • With the increase in Cloud-based options, early stage companies can do without the IT infrastructure that they used to need. Just be careful to safeguard your intellectual property!
  • Attend relevant meetings and functions to learn about existing and available capabilities. Look for local networking opportunities relevant to your market.
  • Incubator sites have developed in a number of high tech centers. These are designed to cover infrastructure needs at a reasonable cost so that founders can focus on product and service development.
  • Hire a virtual assistant – you can find these locally using a Google search.
  • Take advantage of lower cost labor and enlist younger, less experienced labor to manage databases and clean records.
  • Set up a wiki for information. This exchange is free and you can tailor it to your needs. It is permission-based; you can find it at pbwiki.com.

How Do You Get New Employees Up to Speed? Seven Thoughts

Situation: A company has a new set of employees coming up to speed, but this is happening slowly. The work environment is semi-skilled, with learning curves for new office employees and apprentices. How do you get new employees up to speed?

Advice from the CEOs:

  • Provide a competitive level of compensation to journeymen and higher level office employees. Make these levels of skill to which office employees and apprentices aspire.
  • Develop a mentor program. Provide chits (company currency) to both the mentor and the mentee for learning each new processes. Make awarding these chits a big deal. For example, the mentor and mentee collect their chits from the CEO who then takes them down to the treasurer to collect on the chits.
  • As appropriate, create a team learning environment. Game theory has demonstrated that both basic and more advanced skills can be successfully taught in a team game environment where there is both competition and rewards for attainment.
  • Set up a system where successful training is demonstrated bench performance.
  • Establish Operator 1, 2 and 3 levels to qualify for graduated levels of jobs or responsibilities. This creates a career track and an incentive to go for the next level. Celebrate employees as they move from level to level.
  • Company celebrations are important. Celebrate birthdays, tenure anniversaries, skill level attainment, career track attainment, and so on at monthly meetings or events.
  • Hire slow/fire fast. Give new employees a fair shake, but if their mentor doesn’t see promise in them, let them go.

How Do You Simplify a Firm-wide Software Roll-out? Five Ideas

Situation: A company plans to implement a new CRM system. They have a project road map and have assigned a manager for the implementation. However, the CEO has concerns because this is the most significant software roll-out that the company has ever attempted. She wants to assure that the roll-out proceeds smoothly, and that and that sales, marketing and customer service functions are not hampered. How do you simplify a firm-wide software roll-out?

Advice from the CEOs:

  • Focus on company business objectives as you plan and implement the roll-out. Optimize the system to company business objectives, not just what the team wants.
  • Scope this out as a project management exercise.
    • Identify objectives.
    • Build and test.
    • Roll the system out to preliminary production and collect feedback on functionality.
    • Rebuild and test.
    • Plan and conduct system orientation training.
    • Set a date for the roll-out.
  • Don’t immediately roll the new system out company-wide. Conduct an initial implementation with a small scale test team. Make sure that everything works as planned and that day-to-day function is not compromised. From the information that you gather during initial implementation, tweak orientation training so that everyone is comfortable with the new system.
  • During initial planning sessions to set system objectives, meet first with managers whose teams will be impacted by the roll-out. Managers may not speak freely if their support staff are present.
  • Have a roll-out celebration and be generous complimenting personnel who have been involved in planning and roll-out.

How Do You Maintain The Focus to Stick With Your Plan? Five Suggestions

Situation: The Company has both an annual and a 5-year plan. These are discussed in both company meetings and in 1-on-1s with managers. The CEO fears that he’s starting to sound like a broken record. How do you maintain the focus to stick with your plan?

Advice from the CEOs:

  • Break the 1-year plan into quarterly objectives. Don’t just divide annual objectives by four. Vary objectives for each quarter so that the total sums to the annual plan.
  • Divide your broad plan into a series of milestones. Celebrate the achievement of each milestone. This helps to maintain momentum and keeps everyone engaged.
  • Establish metrics to assess your progress against the plan. These will enable you to evaluate progress against plan and the degree to which you are above or below plan. It will also help you to evaluate whether underperformance is a matter of externalities or a flaw in the plan itself. If there is a flaw, fix it as soon as you find it.
  • Evaluate your “worst case” scenario so that you know the implications. This enables you to compare current performance against “worst case.”
  • In his book “Good to Great,” Jim Collins found that an important difference between G2G and non-G2G companies was the ability of the G2G companies to maintain faith and to slowly build momentum regardless of the apparent obstacles faced. This allowed good companies to establish the momentum that eventually made them great. Non-G2G companies continually changed direction and never built sustainable momentum.

Key Words: Plan, Annual, Long-Term, Objectives, Milestones, Celebrate, Momentum, Engaged, Underperformance, Worst Case, Good to Great