“My work is consuming my life” is a common state of affairs for business founders, owners, and leaders. In our previous blog, we discussed how to assess what might need to be addressed in you to reclaim a healthy work-life balance. In this blog, we turn to areas that may need to be addressed in your business. While every business is unique, three areas consistently top the list for generating soul-crushing pressure: alignment issues, people problems, and execution obstacles.
Alignment Issues
Misalignment eats leaders alive. If you and the leadership team in the company are not aligned on where the business is going and/or how to get there, you are going to feel the impact – as will the business as a whole.
Consider this scenario: a software development company’s stated vision is revolutionizing project management. The CEO advocates an aggressive approach, pushing for substantial investments in cutting-edge technologies. One of her goals is the strategic acquisition of a firm that has developed a particular type of software. Her leadership team, however, is concerned about the investment cost and risks associated with a business acquisition. They want to realize the company vision by putting more resources toward internal research and development, including making expert hires, although they recognize that developing innovative software in-house will take longer.
In this state of misalignment, there will likely be:
- Uncertainty and stress
- Strained relationships and outright conflicts
- Resource allocation challenges
- Lowered morale and productivity
- Decision delays impacting time to market
- False starts and failed initiatives
- Ineffective use of time, effort, and money
- Backchannel politics
If you and your leadership team are not in alignment on what the company vision is and how to execute it, make achieving alignment your TOP priority. You’ve got to pull together if you want to reclaim your life – and succeed as a business.
People Problems
People … you can’t run your business without them, yet it sometimes feels like you can’t run your business with them! If you found yourself nodding in agreement, pause and consider the names and faces that flashed across your mind. Then, for each person, ask yourself two questions:
1. Is this the right person for the company?
This question is a “yes/no” filter that is based on one thing: Does this person consistently exhibit our company’s core values? If the answer is “no,” then you have two options. The first option is to cut them loose from your company. Why? Because it is almost impossible to get someone to exhibit your corporate core values if they do not embrace those values personally.
The second option is to use very intensive and intentional feedback with the individual to see if they can learn to cultivate and demonstrate your company’s core values. Just be aware that such a shift is uncommon and you ultimately may have to let them go for the good of the company.
2. Is this person in the right seat within the company?
If a person does consistently exhibit the company’s core values, you need to determine if they are in the right seat within your company. The GWC™ tool from the Entrepreneurial Operating System® (EOS®) is very helpful for this.
GWC stands for Get It, Want It, and Capacity. To use the tool, think about the seat the person currently occupies and identify the top five accountabilities for that seat. Then ask and answer three questions:
- Does the person Get It? That is, do they understand the role and how it fits into the larger organization?
- Does the person Want It? This looks at the person’s attitude: do they enjoy the job? Is this where the person wants to be?
- Does the person have the Capacity to do it? Has the person demonstrated the ability to do the job at a high level of execution every day?
Chances are very likely that where a “people problem” is consuming your time and energy, the person in question doesn’t embrace the company’s values or doesn’t get the seat they are in, doesn’t want it, or can’t do it. Once you identify the root of the matter, you can take appropriate action.
Execution Obstacles
Execution obstacles come in all shapes and sizes. But they all have one thing in common: they will drive you to distraction if you don’t address them. Here is a quick list of seven execution obstacles I frequently help leadership teams overcome:
- Minimal trust. Team members do not trust one another, impacting communication and collaboration.
- Ambiguous roles. “Who is responsible for what” is not clearly identified or understood.
- Indefinite goals. Goals are not SMART: specific, measurable, achievable, relevant, and time-bound.
- Deficient accountability. Team members are not held accountable in an effective, consistent, appropriate manner.
- Scattered efforts. The team has too many goals and/or cannot prioritize and is therefore unable to focus resources.
- Inadequate tracking. Routine team check-ins do not take place to make sure the execution plan is on track to complete goals on target.
- Persistent issues. There is an unwillingness or inability to address issues when they arise.
The good news is that all of these execution obstacles can be overcome – which means that not only will your business improve, but you can get your life back.
Relieving the Pressure
As a business leader, you do not have to live under the weight of soul-crushing pressure. Hit the release valve by taking a look at any alignment issues, people problems, and execution obstacles in your business that are overwhelming you. Target your efforts at resolving these matters, and reclaim the life you want!
Need a hand getting your business – and your life – back on track?
Contact me today; I will be glad to help you!
