When Stephen Lynch addressed a standing-room-only crowd at the Entrepreneur's Organization conference in Salt Lake City earlier this month, he revealed the #1 regret business leaders have—and what to do about it:
The authors of, “What Really Works - The 4+2 Formula for Sustained Business Success” researched 160 large companies in equivalent industries over a 10 year period. The researchers looked at successful companies (winners), unsuccessful companies (losers), and also those whose performance changed for better or worse over the 10 year period (climbers and tumblers). They identified 8 management practices that were directly correlated with superior performance (in terms of total shareholder returns) over the 10 years.
I was recently asked to write a guest article for another software company here in San Francisco. They wanted to know how I would answer the following 2 questions:
It's difficult to keep pace with all the great business literature published these days. Here are some quotes from top thinkers to help you gain their most practical, actionable insights:1. Tracking Metrics
Steve Blank is a silicon valley author, entrepreneur, university lecturer, and pioneer of the Lean Startup movement. I read an interesting blog article by Steve about creating a “No Excuses” culture and thought I would explore the concept further.
Most management consultants deliver guidance in two broad categories: First, there’s the business side. Then there’s the human side. The two have become evermore intertwined.
I’ve learned many management lessons the hard way, but one of the most important was the realization that I can make things a lot easier on myself and achieve far better results if I hire the right people in the first place. That’s where the Topgrading methodology made a huge difference for me. I learned to follow a disciplined hiring methodology to ensure I only hire A-Players for every role.
You don’t need proof to know that people do better work when they’re in a good mood. And you don’t need a study to tell you that a good mood will spread from person to person. But how do you put people in a good mood? How do you get that started? If you could do that, your team would be happier. Management would be easier, and, almost certainly, there’d be a positive impact on your business.
You’ve probably heard the cliche that goes, “People get promoted to their highest level of incompetence.” We say it as a joke when we meet a manager who doesn’t know what they’re doing. But people really do get promoted into positions they shouldn’t have, and believe it or not, it’s almost always because of the executive’s best intentions. You can solve this problem, or prevent it, with one tweak.