Are you in the top 5%?

Posted by Greg Bustin (February 1, 2008)

Each year, hundreds of companies fail to achieve their objectives – or worse – because they fail to take the necessary steps to articulate their organization’s priorities and then gain buy-in among those in their organization responsible for driving implementation.

It’s estimated that 80% of executive teams do not take the time to develop a plan. Some of these teams mistake budgeting for planning. Budgeting is a form of planning, but it’s not the same thing. I’ve been told by those that don’t operate from a business plan that planning is a waste of time. Things in the plan will change. Other things won’t get done. Why bother?

Of those that take the time to plan, only one in four actually follows through with implementation.

The Top 5%

That means that only about 5% of companies operate from a plan where all team members know the corporate goals and their individual responsibility for achieving them.

This small segment of business year after year effectively outperforms its competitors. These companies usually outperform themselves. They get better and better year after year.

Currently, there’s talk about whether the U.S. is headed for a recession. Some believe we’re already in a recession and we’re simply waiting to hit bottom.

The CEOs and leadership teams that I work with continue to be cautiously optimistic about their plans for 2008. These leaders are now taking steps to re-evaluate their priorities, consider a range of scenarios that can threaten their business plan, and adapt to new opportunities. All the while watching less-disciplined companies thrash around in the undertows of ineffectiveness and uncertainty.

For those not in the top 5% of planning and execution, it’s not too late to start to improve. What if you could focus your resources so that both you and your business not only survived a downturn but actually emerge from the next wave of economic uncertainty in a stronger position than ever before?

Is it possible to operate at higher levels of effectiveness during tough times? Yes.

How?

Driving Performance

After 25 years of working with and observing hundreds of senior business leaders – during which time I led teams through three U.S. recessions – I’ve concluded that what separates those leaders that are most effective from all the rest is their ability to do one thing exceptionally well.

The most successful leaders win consistently because they have a plan that they work.

That may sound like two things, but to maximize your performance, you must develop a plan and then work it. I’ve seen companies execute without a plan. They can do this for a time, but they will rarely thrive. And I’ve seen companies develop a plan that sits on the shelf. A strategically sound plan that maps specific initiatives and areas for improvement will deliver little new value to an organization if there’s no follow-through or if things continue to be done the way they’ve always been done. On the other hand, consistent execution of a flawed strategy can actually accelerate an organization’s demise.

To improve performance, organizations require a smart plan that’s executed crisply and consistently.

These teams work their plan to deliver results effectively and profitably. They make time work for them by getting everyone in the business focused on the right things and performing at consistently high levels of execution.

Plans fail in their execution for three primary reasons: 1) they’re too complicated, 2) there’s little genuine excitement about the plan, and 3) there’s only lukewarm commitment to execute it. CEOs say, “Give me a fast, simple process my team will believe in and that will produce bottom-line results.”

The laser-like approach you’ll find in Lead The Way uses a series of exercises developed from years of watching and working with hundreds of senior leaders who are committed to improving their companies’ results.

With discipline, you can turn your ideas, dreams and plans into improved performance.

Do you have what it takes to be among the top 5% of high-performing companies in business today?

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