Getting Home Late (and How NOT to) - David DeWolf

Getting Home Late (and How NOT to)

If you’re trying to integrate your life and you’re having a hard time, here’s one of the fatal flaws. You’re Type A personality. You’re engaged and passionate about what you do, and it’s really, really easy to get caught up in the project of the moment, in that new thing that hits your plate right as you’re walking out of the door.

You have the ability to step back and notify your spouse when things reach the point that you know you’re going to be home late. The worst thing that can happen is you call your wife at 5:45 PM to tell her that you’re not going to be home in time for 6:00 dinner.

No kidding! Of course you’re not! You have a 30-minute commute home!

Rather, make it a point to be proactive. As soon as you see your day stacking up, give your wife a call. Let her know at 2:00 that things are beginning to get behind and set the expectations that you may have an issue.

The surprise is the worst part. Manage your time. Manage yourself as you would any other appointment you have.

Committing to being home on time and having that family dinner is an essential part of living an integrated life.

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5 Steps for Goals that Promote Teamwork - David DeWolf

5 Steps to Ensure Cascading Goals that Promote Teamwork

Every mature corporation has some sort of annual planning process. As part of the process, corporate objectives are converted into departmental goals, which are then cascaded to various levels of the organization.

Last year I felt I did a pretty good job. But I didn’t. One flaw stands out above the rest.

I failed to ensure that each department’s goals both supported and relied upon each of the other departments. I cascaded goals down throughout the organization, failing to weave them together along the way.

Collaboration and teamwork are key components of any high-performing organization. During the goal-setting process, it is important that leaders put an exclamation point on the need for for departments to collaborate and work together.

Here are 5 steps I have taken this year to ensure that I cascade goals that promote teamwork.

I clarified our corporate objectives.

Each year our senior leadership team identifies a “theme”, or focus area, that we believe will propel us forward the most. We make this theme clear by defining a single measure that will be used to determine whether we accomplished our goal. In addition, we identify between 3 and 5 “strategies” that we will use to accomplish it (this year we chose 4). Each of these strategies also has a metric attached to provides insight into our performance. The theme, it’s measure, our strategies and their metrics make up what we call our “annual objectives”.

Because our leadership team developed these together, during our annual planning retreat, they were fully aligned with our objectives. It was important, though, that we clarified the meaning of each one and simplified them so that they could be cascaded effectively throughout the organization.

I assigned a “primary” objective to each department.

As goal setting began, I asked each department to put a primary focus on one of the 4 strategies. This primary objective became the major planning initiative for the department. They were charged with creating one or two SMART goals that would measure their departments success in driving the strategy forward. In addition, some departments developed leading indicators that they would use to track their efforts along the way.

The primary objective did not exclude the department from setting goals oriented to the other objectives. In fact, so long as the objective was remotely relevant to the department, it was required to set a related goal by thinking about (and hopefully discussing) what other departments would need form them to be successful.

In many cases two or three departments were focusing on the same primary strategy. This proved to create strong synergies.

I challenged departments to create dependencies.

As goals were being developed I worked with department heads to create goals that would require inter-departmental collaboration. I asked departments to determine the dependencies they would have on other departments and the dependencies other departments would likely have on them in order to be successful.

By deliberately calling out the likelihood of dependencies I created an awareness. I made it known that these dependencies were intended and that goals should not be constructed to avoid them. In fact, whenever I saw that they were, I challenged the leader to be more aggressive.

For the most obvious dependencies, departments were instructed to create their own, measurable, goals that would align the departments in execution.

I reviewed and refined the goals.

After all of the goals were developed I asked for them to be submitted to me. I then stepped back and looked at them holistically, asking myself:

Was each of our objectives supported by enough of the departmental goals? Were there any conflicting goals that would prevent inter-departmental collaboration? Were there a sufficient number of dependencies embedded within the goals for each department The team presented their goals to each other.

Finally, each department head had to submit their goals to the entire team. It is important that everyone knows and is ready to support others in achieving their goals. I also wanted to make sure that there weren’t any missing dependencies and each leader had an opportunity to challenge another department to participate in their pursuits.

By deliberately cascading goals in a means that they were woven together, I’m confident that we will have greater success this coming year. The power of team work is when 1+1=3. This only happens when synergies are created.

How about you? Do you have a deliberate process for creating synergistic goals throughout an organization? What lessons have you learned?

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The Weekly Shufflepass - David DeWolf

The Weekly Shufflepass Episode #006: Why You Should Invest in Friendships [Podcast]

The Weekly Shufflepass is a series of short podcasts in which I talk about something that’s on my mind. They are quick tidbits. No frills. No production. Just helpful thoughts on how you can go, do something greater than yourself.

http://traffic.libsyn.com/shufflepass/TWS_-_Episode_006.mp3

Direct file download

As entrepreneurs and executives, we rarely make time to invest in friendships. In this video I share how my recent investments are already paying off and challenge you to find friendships you can count on to help get you through challenges and provide perspective.

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4 Questions to Ask Before Hiring a COO - David DeWolf

4 Questions to Ask Before Hiring a COO

A couple of weeks ago I was with a group of friends. We were all discussing our goals for 2015 and the bold moves that we are taking in order to ensure that we get there.

“I’m hiring a COO,” said one of my friends who runs a medium-sized business with about 150 employees.

“Is this a replacement, or a new position?” asked another, who had previously run a publicly traded organization. Based on the inflection, you could tell he was suspect about whether or not it was the right move.

It turns out that my friend was hiring into a new position in order to free himself up to focus more time on and push forward a new strategic initiative that he felt would revamp the organization. As the conversation moved forward it became abundantly clear that while he was excited about the additional capacity, he wasn’t crystal clear on what his and his new employee’s job descriptions were, how they integrated, and who would be responsible for what.

Having hired a COO under similar conditions myself, I encouraged him to ask himself a few questions.

Do you intend to allow the COO to “run the business”?

I made a major mistake when I hired a COO several years ago. My intent was to find a “running mate.” I wanted someone to assist with operations, but I intended to continue to “run the business” myself. While adding executive capacity would allow me to spend more time on the external functions of the business, I still planned to be involved.

As the “chief operating officer,” any senior executive worth their salt will likely expect to “run the business” for you. If you don’t intend to totally hand over the keys, hire a VP of Operations instead.

Do you have the right structure in place?

A warning sign that should have tipped us off to the fact that I was not necessarily looking for a COO but rather a VP of Operations was my organizational structure. The structure I created reflected my desire to run the business. Sales, Marketing, HR, Legal, and Finance all reported directly to me.

Most “chief operating” roles oversee all operations – from marketing and sales through the delivery of goods and services. While it is common for Finance, Legal, and sometimes HR to fall outside the purview of the COO, it will be nearly impossible for any executive to play a chief operating role if they are not responsible for the entire supply chain.

Do you have a plan for cascading the vision and the culture?

Adding a COO to your organization will create a level of management between you and the core of your business. This isn’t a bad thing, it’s just a reality that you need to be aware of and be deliberate about managing. As the chief executive, you are responsible for the vision, values, and culture of your organization.

“Culture eats strategy for lunch.”

“Without vision the people perish.”

No matter how strong your vision and culture currently are, adding a strong COO will likely change the way you communicate and reinforce them. Make sure that you adapt with the changes that you are making and find ways to double down even further on these key aspects of your business.

Why do you need this position now?

I have another friend who recently hired a COO to “fix” their operations. After years of under-performance, he felt as though he needed a new set of eyes. He wanted someone to come find the inefficiencies within the organization and “build a well oiled machine.”

In short, he wanted a consultant.

A strong COO has the ability to create or overhaul a strong operating model. They continually iterate, refining the business’ operating model and making it stronger while they “run the business.” They don’t just set up the model, they operate it, and it’s through the course of operations that they continually refine it.

If you’re looking for a second opinion or to just fix what is broken, you may be looking for a management consultant. Make sure you’re searching for the right thing before you hire a COO. If you’re just looking to create operating efficiencies, hiring a COO will only make your problems worse.

Deciding to hire any senior executive is something that requires serious deliberation. Hiring a COO requires significantly more. A COO can be a huge accelerator for a business, but the position’s prominence within the organization means that it comes with high risk.

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CES 2015 Recap #3: Slow and Steady - David DeWolf

CES 2015 Recap #3: Sometimes Slow and Steady Wins

If you’re looking for the latest toy, coolest gadget, or weirdest picture, go ahead and check out another blog. There are plenty of folks reporting on the sex and sizzle of the Consumer Electronics Show (CES) in Las Vegas. For me, the week was more about collecting discrete data-points and connecting the dots — boiling them down into useful insights.

In this series, I have shared trends that I think will carry forward into 2015. In Part 1, I discussed how I see the Health and Wellness industries leaping forward in 2015. In Part 2, I observed the way technology is going to engulf us. Today, I have one last observation.

One last observation: 3D Printers are now being used.

3D printing isn’t new, but it does seem to be finding its purpose – slow and steady.

Hosting a party? Don’t have enough dishes, but don’t really want to use paper plates? No problem. Just print new dishes – Martha Stewart party dishes, nonetheless.

Hardware distributor? Why carry inventory when you can create low volume parts on-demand?

Hardware R&D? Rapidly iterate through various experimentations. Tweak a model and reprint.

I’m not sure exactly where 3D printing is going to end up, many of the use cases do seem to still be immature, but, it’s becoming more and more popular, more and more refined and is slowly entering into mainstream.

Oh, and printer prices are starting to come down to the point where they are affordable by the average person. That will prompt further innovation and adoption.

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Fatal Flaws in Business Relationships - David DeWolf

What to Do with Fatal Flaws in Business Relationships

Have you ever had that really, really difficult client? The one where you love their business model, you love what it is they do, and in fact you even love the executives and owners of the company and believe that they’re good people?

Certain people have character traits that make it difficult to work with them in business relationships (and life, too!). I have a client who has a fabulous idea for building a product. They have been successful in obtaining clients and the gentleman I’m working with is a multi-time entrepreneur. He has capital and access to capital.

But, unfortunately, he lacks follow through. We can have a discussion and make a commitment, and that discussion will not come to conclusion or be followed up on within six months, despite constant reminders.

This makes it horribly difficult to manage the relationship and even makes the relationship a little bit shaky sometimes. It’s a difficult situation to overcome.

I have found that the best way to manage these types of relationships with these flaws is very directly and bluntly. Despite having great relationship and a great respect for this individual, it’s important that I give blunt feedback. I’m very direct with what this means for the relationship.

The hardest relationships to navigate in business are the relationships that have so much potential and have such a strong foundation, but there’s a crack in the foundation that jeopardizes the structure. Those cracks can be fatal. Despite all the other wonderful characteristics can really get in the way.

This goes for employees as well. With employees, the same thing can be true. You can have someone who is absolutely phenomenal in certain areas: they have all sorts of talent and maybe they’re a great culture fit. Perhaps, though, they don’t follow through on their commitments.

This can send waves throughout the organization if you boost them up as leaders, as they so often seem to be, because others around them can raise questions: Isn’t it important that we follow through? Isn’t it important that we’re timely in our responses?

It’s a difficult situation. Those relationships that are the most difficult to terminate are not those that are totally off. It’s also not those that you don’t need to. The ones that are so difficult to manage are the ones that are so close, yet have that fatal flaw.

What should you do in those situations? Be blunt, be deliberate, and call it out. If the behavior doesn’t change, cut them off. They have become greater distractions than they need to be.

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