Early Warning Signs of Performance Mediocrity
Introduction
The CEO Entrepreneur Leadership Conundrum
Being a an effective leader, CEO Entrepreneur, or one man C-suite, of a technology enabled service business model is nearly an impossible job. With all the complexities of changing market dynamics, globalization, compliance and regulation, increased competition, and labor skill shortages especially in the middle skill spectrum, there are literally not enough hours in a day to manage all the externals and the internal vicissitudes.
As leaders of we pulled in many directions and often our skill sets are more “generalist oriented” or we excel at a one or two functional areas. As a result, creating and running an organization that illustrates definable, repeatable, and consistent results improvement requires “balanced performance” in the many functional areas of the business model. Consider that an ideal “Highly Skilled CEO Entrepreneur” needs to:
Be a great evaluator of talent, and effective recruiter of talent
Be respected and admired both internally and externally
Build a high-performance workforce and supervisory teams
Constantly learn and adapt to industry trends and changes
Empower the management team to overcome business model and business processes deficiencies
Empower the management team to make tactical operational decisions such that the CEO Entrepreneur is not the sole element of accountability and decision making.
Formulate the right messaging and communicate effectively
Oversee budgeting, planning, finance and performance to expectations
Ensure that the management team is skilled, trained, motivated and that minimal turnover is prevalent
Understand operating and financial performance at all times and have plans in place for any potential gaps, bottlenecks or setbacks
Ask yourself a simple question: Is your business meeting expectations and taking “full” advantage of the market opportunity? If no, or if you don’t know?
In our 17+ years of advising, investing, leading and guiding emerging services business we have identified several attributes or Warning Signs that should signal to you, the CEO Entrepreneur, that you need and must take decisive action or garner the requisite skill and/or guidance to enable you and your organization to achieve stated objectives.
Your Reaction to Early Warning Signs and Mediocrity of Performance
Over our many years of experience, one of our most common observations we have is that the CEO Entrepreneur or leader either “procrastinates” or takes inappropriate actions when early warning signs are illustrated, or they “just know” that performance is not on a good path.
Inappropriate reactions we observe include:
“Wait & Study the problem for a time
View the warning signs and performance challenges as temporary
Blame it on one person and “fire somebody”
Or they “step in” and run the function and/or take and event orientation
At Tablero we have guided and developed numerous successful transformation business models by:
First, focusing on the business model and business process development,
Second, the application of technology to the those business processes,
Third, hiring capable people and leaders to work within the processes and technology
Fourth, by outsourcing business process and skill needs on an “interim basis” to insure competency and best of breed adoption
Fifth. by implementing precise Management Science and Measurement and Metric Systems that allow us to identify the Early Warning Signs most rapidly.
Sixth, by taking timely and appropriate actions on performance challenges.
Seventh, by having effective oversight and governance of our business models by proven and knowledgeable professionals who illustrate skills we simply do not have.
Therefore it is Tablero’s philosophy: build the business model and process “right”, always be proactive and have ongoing professional outsiders monitoring and governing the business: therefore the probability of Mediocrity and Performance challenges are minimized.
In conclusion: We as “stewards” of small business, in this complex and sometimes confusing environment, simply cannot “do it all” and for sure, none of us are skilled enough to solve all the challenges.
Therefore those of us who have created wealth and for those that will create wealth:
Let’s “surrender the sovereignty” and surround ourselves with the skills and expertise required, so we can maximize the market opportunities before us.