About this episode
Book Summary: Execution by Larry Bossidy and Ram Charan In "Execution: The Discipline of Getting Things Done", Larry Bossidy and Ram Charan provide a framework for business leaders to achieve results. They argue that execution is not just about having a good strategy, but also about having the right people in place and creating an environment where they can be successful. The authors offer a three-part framework for execution, which includes setting clear goals, aligning people and resources behind those goals, and holding people accountable for results. They also provide tools and techniques for each of these components. Goal setting: The authors suggest that goals should be SMART: specific, measurable, achievable, relevant, and time-bound. They also recommend setting goals at multiple levels, from the overall company down to individuals. Aligning people and resources: The authors argue that alignment starts with understanding what each person's strengths and weaknesses are. Once this is clear, leaders can assign tasks and roles accordingly. They also recommend creating "accountability maps" to make sure that everyone understands who is responsible for what. Holding people accountable: The authors argue that accountability is essential for execution. To hold people accountable, they suggest setting clear expectations, providing feedback regularly, and using rewards and punishments appropriately. Major Building Block of Execution is Leadership. 7 essential behaviors of a leader The first essential behavior a leader needs it to know the people and the business. Understanding your people and business is critical to truly executing on priorities in any business. A Leader also must insist on Realism. Rather than avoiding the truth a great leader needs to embrace the truth. This requires a leader to identify and deal with weaknesses as well as the current influence of the markets. Setting clear goals and priorities is also a critical element of leadership. People and organizations cannot execute if the direction of the company isn't clear. Don’t overcomplicate things with too many goals or priorities, and make sure that communication is clear and simple. You've heard the phrase the "fortune is in the followup", and leadership absolutely requires you to follow through. Being someone that always follows through is important for a leader, it means that people will believe what you say and take you seriously. Your actions speak much louder than your words. The fifth behaviour a leader must have is the ability to reward the doers...the people that are getting things done. The goal is to drive progress and "execution", so its important to reward that behavior in the people as they do it. Expanding the capabilities of an organization and its people is a key element of a leader. Its important for people feel like they are "growing" inside a company. Plus, you will develop and expand relationships, networks and opportunities when you invest in growing people. Leaders know themselves and their capabilities. They know their own strengths and their own weaknesses. Accepting and acknowledging your own weaknesses and working to improve these is a great trait for a leader. You are a much more influential and productive leader when you are aware of the talents and resources you have, and when you understand your weaknesses and challenges that you must overcome. Thank you so much for joining the Daily Mastermind Today. Please share this with someone you feel might benefit from the content. Have an Amazing Day. George Wright III