I came across this 2009 book while cleaning up my basement and it contains some important reminders of how to perform better in trying times. It was written after the 2008 Great Recession but it has valuable ideas and tools for dealing with difficult times.
The four key principals for performance:
1. Excellent Execution: Winning companies have simple goals with clear targets and strong follow-through.
2. High Trust Levels with all Stakeholders: Low trust slows you down and raises your costs- especially in times of turmoil. But when trust levels rise, everything speeds up and costs go down.
3. Achieving more with less: In tough times, everyone tries to do more with less but the real question is “more of what”? Winning companies focus on giving more value- not just on cutting back
4. Transforming Fear into Engagement: Unpredictable times create fear, stress, and worry- fatal distractions when you need total focus. Winning organizations entrust people with a mission they can be believe in, channeling their anxiety into results.
The writer mentioned that only 15% of employees fully understand the top goals of their company and 40% know what do do about the goals. With so many of our members involved in smaller businesses or sole proprietorships the goals should be clear so focus on items 3 & 4, achieving more with less and not letting fear control you.
Redirect your goals to where the business is, set fears aside, be flexible with your terms & conditions, and maintain the high standards of your organization.
Three trusting building behaviors:
- Create transparency- Be open to realities, facing up to right and wrongs.
- Keep your commitments- Stay committed to your high standards and principals.
- Extend trust to your team- Empower your team to make decisions and to relay the principals of your organization to all members.