Strategic Management Forum

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• Strategic Management Forum

From Shareholder to Stakeholder Building Teams
with Vision and Purpose
Facilitators Gigi Dryer
Steve Firszt Sonance
Fast-Forward Business Coaching
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Welcome to Owners World

• Congratulations!
• Its your company.
• You make the decisions.
• Nobody tells you what to do.
• But
• What about your employees? You need
• them to do whats right.
• How come they often dont??

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Leading People

• People need to know what marks
• theyre supposed to be hitting.
• They want to understand how
• they can conduct themselves
• to please you and your customers.
• They appreciate a reminder when they goof up.
• And they want to know the rules arent a moving
• target or prone to selective enforcement.
• - Verne Harnish, Mastering the Rockefeller Habits

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Our Agenda

• Introductions
• Part I Values Purpose
• EXERCISE
• Part II Goals
• EXERCISE
• Part III Rewards
• EXERCISE
• Closing summary

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Entrepreneur vs Employee

• EMPLOYEES
• Do the work
• Are focused on todays urgencies
• Work in the business
• ENTRPRENEURS
• Know how to get the work done
• Focus on tomorrows opportunities
• Work on the business

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The real difference

• ENTREPRENEURS
• Dont like to be told what to do
• EMPLOYEES
• Need to be told what to do
• (if they didnt, they wouldnt be employees!)
• But
• they want to understand WHY

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Employees as a Team

• An organization will attract and retain a Team of
• people dedicated to the success of the
• organization and its goals when it has
• a Purpose, and
• a set of Values that it lives by
• effectively communicates them throughout the
  organization, and
• measures its actions and decisions against them.

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Company Purpose

• You want employees who share your
• companys values, understand its
• aspirations, and appreciate its purpose
• Values what you stand for
• Aspirations what you hope
• to achieve
• Purpose an internal statement
• connecting values aspirations
• why you do the things you do,
• the way you do them

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EXERCISE

• What are your Companys Core Values? These
• will be used to help define the companys
  Purpose, which will ultimately become a
  written statement that all employees
  will know and understand.
• To help you discover a way to identify the
• Core Values of your company, we are going to do
• something Verne Harnish calls

Mission to Mars
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From Purpose, to

• The aspirations of your company, the long-
• term what we hope to achieve, could be
• a number (or set of numbers)
• an event (become recognized as., achieve the
  reward for.)
• geographical reach (serving people across the
  central US)
• a combination of things.
• But fulfilling purpose requires more than just a
• statement. It requires a clear vision of the
• accomplishments needed for success.
• It requires

GOALS
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Be SMART

• Goals should be
• Specific
• Measurable
• Attainable
• Relevant
• Time-Framed

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SPECIFIC

• Goal I want to write an article.SPECIFIC
  I want to write internet articles about time
  management that have at least 6 steps per article
  and I want to write them for the next three
  weeks. Ill commit myself to writing at least 2
  articles every workday until I reach completion.

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MEASURABLE

• Goal I want to be rich.MEASURABLE I want
  to generate 6,000 in passive income within 2
  years from this date.

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ATTAINABLE

• Goal I want to become a millionaire in 2
  months.ATTAINABLE I want to become a
  millionaire within 10 years by starting my own
  personal design company, giving speeches about
  design, networking and by creating demand.

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RELEVANT

• Goal Within one year, I want to become an
  owner of a Vegas Casino and start a gambling
  cartel that weeds out the competition.RELEVANT
  By the end of the year, I want to create a
  website that sponsors design development and
  draws clients for my new company.

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TIME-FRAMED

• Goal I want to write an article.TIME-FRAMED
  I want to write an internet article about
  design concepts that has at least 6 phases and
  have it done by July 3rd."

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Exercise

• What would be SMART Goals for an integration
• company to have?
• Form groups and make a list of goals. Each group
• will present its top-priority goal and explain
• Goal specifics
• How it will be measured
• Why it is attainable
• Its importance/relevance
• Its time-frame for achievement (one year or less)

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From Goals, to

• The vision of success is clear, but now
• you need to get there
• WHAT needs to be done (actions)
• WHEN is it to be done (deadline)
• WHO is responsible (accountability)
• HOW is it to be done (training/quality)
• To sucessfully achieve goals, you
• need to have

PLANS
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Alignment

• This is a powerful model, especially
• when communicated throughout the
• organization
• WHY we are doing this (Purpose)
• WHERE we are going (Goals)
• HOW we are going to get there (Plans)
• There is one other essential element to
• making this all work

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Measure Reward

• Did it get done
• On time?
• Correctly?
• Monitor Constantly
• What if it did? What if it didnt?
• Timely with praise (public), equally consistent
  with consequences (private)
• Develop rewards for achievement of goals

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Types of rewards

• Frequent (daily, weekly)
• Monthly, quarterly, annual (commission bonus)
• Individual or Group (eg, monthly team bonus)
• Deferred income (profit-sharing, 401(k) match)
• Personal days
• Lunches/dinners
• Merchandise/Gifts
• Recognition (internal/external)

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Exercise

• Develop company rewards for individual and/or
• group achievement
• Use the group goals developed earlier. Create a
• reward system for them, and
• be prepared to discuss
• Type of reward
• Who will be eligible
• Time-frame/frequency
• How it will be administered

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Values Purpose Align Company Activities
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The Planning Pyramid
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Your Action Items

• Identify your companys core
  values aspirations develop a
  purpose statement that describes why you do
  things the way you do and what the company hopes
  to achieve (see sample)
• Develop SMART goals for 90-day and 1-year
  achievement
• Develop rewards for excellence

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Your Team Needs to Know!

• What
• Why
• Where
• How
• When
• Who
• - Never assume, always follow up -
• THANK YOU!