The best tool to focus on what matters | Issue #231
Why a Target Operating Model is the best tool to focus your team on what matters
You’re sitting in an endless Executive meeting. Every week it’s the same. Each team member feels compelled to report the status of their function at great length. And run through every KPI. Perhaps this justifies their existence, but is it really necessary? There must be a better way.
Let me introduce you to the Target Operating Model. This helpful tool will streamline discussions in your executive team meetings. Investing a small amount of time upfront will save many hours of unproductive and unfocused meeting time. And it will reassure the rest of the business that the management team are working on the right things. The things that matter.
E236 | Driving Growth And Generational Change In Family Businesses with Jonathan Goldhill
This week on The Melting Pot, we learned from business coach and author, Jonathan Goldhill. He is passionate about family businesses and his book, Disruptive Successor, is a guide for family business owners wanting to drive growth in their businesses. He has a deep understanding of the complexities of multigenerational family businesses, and is well-versed in the challenges of transitioning between generations.
After exploring his passion for family businesses, Jonathan Goldhill discovered the unique challenges of transitioning from one generation to the next. He witnessed first-hand what it took for his father and uncle to join the family business, and how the tension of preservation and growth could be difficult to balance. Regular businesses and family businesses have different time horizons when it comes to making profit. In family businesses, success is usually determined by maximising family value, not shareholder value. Jonathan concluded that a crucial factor to success was to ensure that the older generation was encouraged to transition out of the business, whilst the younger generation was given the opportunity to grow it.
Download and listen to learn more.
Alan Weiss’s The Uncomfortable Truth® is a weekly broadcast from “The Rock Star of Consulting,” Alan Weiss, who holds forth with his best (and often most contrarian) ideas about society, culture, business, and personal growth. His 60+ books in 12 languages, and his travels to, and work in, 50 countries contribute to a fascinating and often belief-challenging 20 minutes that might just change your next 20 years.
Team meetings, in particular, suffer a dreadful reputation. They’re considered unproductive, unnecessary, exhausting, disorganized, and stressful. Worse, they eat up valuable time, prevent us from moving the needle on important projects, and leave us wondering why we can’t seem to get anything done during regular work hours.
Until recently, coaching was considered primarily a one-on-one practice. But no matter how effective employees are on their own, they can only contribute to the real power of the collective if their managers provide them with coaching as a group.
As a manager, it’s a tricky balance to promote accountability for business outcomes while demonstrating kindness to individuals on your team. How do you find the sweet spot between being compassionate and holding people responsible? The secret is to over-index on clear expectations and then provide frequent, low-impact coaching and feedback to give your team members assistance without ever transferring ownership of responsibility. This article covers some techniques to instill in your team the sense that they can be simultaneously vulnerable with you and responsible for hitting their goals.
The pioneering organizations researched for this book have already “cracked the code.” Their founders have fundamentally questioned every aspect of management and have come up with entirely new organizational methods. Even though they operate in very different industries and geographies and did not know of each other’s experiments, the structures and practices they have developed are remarkably similar. It’s hard not to get excited about this finding: a new organizational model seems to be emerging, and it promises a soulful revolution in the workplace. “Reinventing Organizations” describes in practical detail how organizations large and small can operate in this new paradigm. Leaders, founders, coaches, and consultants will find this work a joyful handbook, full of insights, examples, and inspiring stories.
Quote of the week
“Accountability is the glue that ties commitment to the result.”Bob Proctor
Dominic offers business coaching and management development, strategy planning and organisational change, using tried and tested methods to launch your organisation onto an unparalleled growth trajectory. His programme is a function of his broad experience, his deep expertise and a proven process used by over 2,700 firms worldwide.