Finish Strong: Measurement

While it isn’t necessarily popular, all things of note and import need to have some quantitative or qualitative measures.  Measuring success is that yardstick on anything that helps you put your arms around it and understand its relevance to your company.

So what kind of measurements will you put in place to help secure this finish strong initiative?

There are both quantitative and qualitative measure:

  • Quantitative are mathematical and usually rely upon hard numbers
  • Qualitative are more about the quality of an attribute an and can be measured as well

Let’s start with the pure sales numbers (usually quantitative):

  • An expectation of XX% increase in sales.
  • Acquisition of YY new clients.
  • Improve your close rate by WW%.

Moving on to human resources, you might expect:

  • NN new hires.
  • Implementation of a new training program.
  • Creation of a retirement plan

Then there is operations:

  • Increased internal productivity of ZZ%.
  • Improved profitability of PP%.
  • Process improvement of MM%

On the qualitative side there are more “squishy” items:

  • Delays
  • Defects
  • Deviations

These do not have to be for a product or a manufacturing process.  Delays, defects and deviations happen in every business including service-based businesses.  Take an HVAC and plumbing company:

  • Delays can be late arrivals for appointments.
  • Defects could be dissatisfied customer visits or a problem not solved.
  • Deviations could be not following through on a standard customer interaction process.

Every one of these can be quantified and some level of over, or under, performance can correlate to a dollar or budget impact.

And so on.  You get the idea.  These are measurable goals.  The goal -setting process will help you better understand your company, too.

For more information about how to finish the year strong, please reach out to us.  We’d love to hear from you.

The New Paradigm Advisors team

Finish Strong: Being Organized

Being able to finish strong starts with being organized.  If you don’t have an ordered way to do things, things might not happen.

Here is a checklist to help you shape up for the task at hand—finishing strong!

  • Create a to-do list.
  • Clean up your email in box
  • Keep your team small and empower them.
  • Clarify and adjust (if need be) your year-end goals.
  • Put your sales team to work.
  • Keep your eyes on the prize.

A list of what needs to happen is a powerful tool.  It becomes a key touchstone of what needs to be done.  Creating a list causes you to determine what needs to be done and, really, drives goal setting.

Cleaning up your email in box will give you room for new correspondence and weed out old stuff that really should have either been addressed already or needs to go. And it will cause you (and your team) to focus on the task at hand.

While, ideally, everyone in the company should play a role in this year-end push, that might be possible because of the sheer number of bodies involved.  Consider, if your company is large, having a hand-picked team to lead the charge.  Give each member an assignment and allow them to push back. By empowering them you give them the opportunity to help shape the goals and to actually reach them.

Goals and objectives should be flexible.  As you move forward you are going to learn things that will cause you to adjust the goal to reality—and, thereby, make it actually attainable.

The sales team plays a big role in this process—put them to work.  They can describe the landscape outside the company to your internal team and also tell you weak spots both in the external markets as well as your internal processes.  They are some of the few people who work for your company who have this perspective.

And, always, keep your eyes on the prize—remember why you are doing all of this.  It is about the health and future of the company.

For more information about how to finish the year strong, please reach out to us.  We’d love to hear from you.

The New Paradigm Advisors team

Finish Strong: Our Next Workshop

While our theme through the end of the year in this space is finishing strong, we do have a real-time event coming up this week that builds on that theme and could be of real value to you.

Beside, hearing from a real, live person and interacting with others with similar challenges with their businesses might be a good use of your time, right?

On Wednesday, November 20, our team will assemble to present a 2-hour workshop on how to finish the year strong.  Taking pages from their experiences with EOS (the Entrepreneurial Operating System) and Strengths, Michael Visentine and Nancy Canada will walk attendees through a program that will result in a tangible plan.

In this session you will learn:

  • How to set goals that are both measurable and achievable.
  • What to assign to whom on your team once the goals are set.
  • Who on your team is going to be asked to do what.
  • How to determine the schedule of events and activities.
  • How to get buy-in from your team.

At the end of the session you will have a working set of tools that will allow you to set and manage your goals for the end of the year so you can finish strong.  And that in itself will make 2020 all that much brighter.

The workshop details:

For more information about how to finish the year strong, please reach out to us.  We’d love to hear from you.

The New Paradigm Advisors team

Words of Wisdom from Live2Lead

Now that some time has passed, we can reflect on the mountain of content from the speakers at Live2Lead.  Let’s take a moment and recap the highlights and the lessons from the day.

This list of guiding statements, tidbits and fresh ideas is actually quite helpful when put into the  context of our daily lives.  Gleaned from the speakers’ (John C. Maxwell, Chris Hogan, Rachel Hollis, Angela Ahrendts, and Marcus Buckingham) speeches that day, here are a number of memorable phrases:

  • Nobody cares how much you know until they know how much you care.
  • Hope is not a strategy.
  • Use the ACT approach—what will you Apply, Change or Teach—from new things you learn?
  • Connection with others is absolutely vital for success.
  • Old hurt brings new harm to a new day.
  • Trust, loyalty and unity are each a two-way street.
  • Work hard and have fun at the same time.
  • A culture is a living, breathing thing.
  • Mentor someone every day.
  • Turn off your head and turn on your heart.
  • Big isn’t good unless big does good.
  • Give 60, take 40 in everything.
  • Look for yourself last in the photo.
  • A leader doesn’t have two good days in a row.
  • Be authentic.
  • Show up.
  • Give people the tools to change their lives.
  • Focus on your self-awareness.
  • Study failure then invert it.
  • Love is space making.
  • Culture eats strategy for lunch.
  • Satisfaction creates energy.
  • If there is mist in the pulpit, there will be fog in the pews—be clear.
  • Measure what you manage.

This is quite a list to digest.  No worries—over the next few months, New Paradigm Advisors will bring light and substance to many of these homilies and help you put them to good, substantial use.

And please plan on joining us for Live2Lead 2020 on October 20, 2020.

The New Paradigm Advisors’ Team

Live2Lead: Angela Ahrendts, Brand, Image and the Human Connection

“Remember – the universal language is not texted, emailed, or spoken. It is felt.”– Angela Ahrendts

The ideal way to improve an organization’s people and its leadership is to engage in a face-to-face dialogue.  It is the best way to share information and inspire.

One of these “best ways” is to create an opportunity to  listen to and connect with other leaders. It is truly amazing what happens when you get a dialogue going between leaders.

That’s what we are doing by hosting and delivering Live 2 Lead to the Dallas business community. This program from John C. Maxwell, scheduled for Friday, October 11, is a closed-circuit television broadcast, live, from Atlanta. Hosted by John C. Maxwell, the morning simulcast will showcase some exceptional leaders from business, industry and media in short (30-minute segments) sharing their experiences and practical ideas.

Angela AhrendtsAngela Ahrendts understands both digital and traditional retail.  Having worked with Apple and Burberry, she currently helps guide the likes of Ralph Lauren and Airbnb as a board member. As a speaker, she reminds people that the ultimate connection is a personal connection.  In an interview with CBS This Morning and in her TED Talk, she emphasized that we all need to get back to basic human communication.

“I think that the larger and more complex the business gets, I have to listen twice as much as I speak.”

— Angela Ahrendts

Along with the other speakers, John C. Maxwell, Marcus Buckingham, Rachel Hollis and Chris Hogan, Ahrendts’ presentation will help attendees to understand leadership principles, add value to their communities and make new and meaningful connections.

You can read elsewhere on this site about the schedule and generalities of the program on Friday, October 11.  While others around the country are showing and sharing the morning simulcast, it’s our afternoon program that will set ours apart.

The afternoon session is intended as a working program.  Our own experts will help take the lessons and messages from the morning and help attendees develop specific action plans for their own growth and advancement.

Thanks for considering joining at the ACU Dallas Campus on Friday, October 11.  It will be a day well spent.

For tickets, click here.  It will be a day you won’t forget.

“There’s seven billion people on the planet.  It’s not about you.”– Angela Ahrendts

The New Paradigm Advisors Team

Live2Lead: Rachel Hollis, Making Positive and Lasting Change

“Only commit to things you know you can accomplish because they’re incredibly important to you. Otherwise, you set yourself up for continued failure.” — Rachel Hollis

Fresh? Freethinking? On-target? Who wouldn’t want their organization to embody these attributes?

One of the best ways to do that is to listen to and connect with other leaders. It is truly amazing what happens when you get a dialogue going between leaders.

That’s what we are doing by hosting and delivering Live 2 Lead to the Dallas business community. This program from John C. Maxwell, scheduled for Friday, October 11, is a closed-circuit television broadcast, live, from Atlanta. Hosted by John C. Maxwell, the morning simulcast will showcase some exceptional leaders from business, industry and media in short (30-minute segments) sharing their experiences and practical ideas.

Rachel HollisRachel Hollis is a leading business podcaster and best-selling author from our own Texas Hill Country. Her highly motivational high-energy style gives Rachel a unique ability to empower and embolden audiences.  Motivational, inspirational and approachable, Rachel has a tell-it-like-it-is attitude that connects with audiences everywhere.  As one of Inc. Magazine’s Top 30 Entrepreneurs Under 30, she has autheored a number of books, most notable among them, “Girl, Wash Your Face.”

Along with the other speakers, John C. Maxwell, Angela Ahrendts, Marcus Buckingham and Chris Hogan, Rachel’s presentation will help attendees to understand leadership principles, add value to their communities and make new and meaningful connections.

You can read elsewhere on this site about the schedule and generalities of the program on Friday, October 11.  While others around the country are showing and sharing the morning simulcast, it’s our afternoon program that will set ours apart.

The afternoon session is intended as a working program.  Our own experts will help take the lessons and messages from the morning and help attendees develop specific action plans for their own growth and advancement.

Thanks for considering joining us at the ACU Dallas Campus on Friday, October 11.  It will be a day well spent.

For tickets, click here.  It will be a day you won’t forget.

“Gratitude practice is really, really important to me. I think it’s an incredible way to start your day.”– Rachel Hollis

The New Paradigm Advisors Team

Exit Planning: Decision

As with any journey, getting to a decision phase is what we all work toward.

After discovering the value of your company and the expectations of your personal finances, formulating a plan, the time or execution of “getting to done” is nigh upon you.

In the decision phase, a business owner, now armed with sufficient data and a plan, can answer that all-important and timely question:

Do you want to continue to grow or get ready to exit the business?

Keeping or selling a business is much easier (if this decision is ever easy) because the owner is much more educated at this point.

Remember ready, fire, aim? There will be none of that now.  You know where you can go, if you so choose.

Beyond this step allows the owner who wants to keep her company to go to and advanced value creation step and process.  By the same token, those who want to sell or leave the business are ready to initiate a selected transaction program.

Each phase or step leads to the next and a final decision.  We look forward to helping you through this process using our Value Acceleration Process.  Call us with any thoughts or questions you might have about this or any other aspect of your business.

 The New Paradigm Advisors team

Exit Planning: Preparation

Preparation and planning are hallmarks of success.  Having a plan before taking action is preferable to not.

Imagine this: ready, fire, aim!

In the preparation phase of our value acceleration methodology, we take the data gathered in the discovery phase and put it through a “de-risking” process.  This phase is aimed at guiding the business owner to the transition phase over a period of two to six months.  By taking sufficient time assemble the data, apply it to personal and financial planning and aligning it with business improvements, an informed decision can be made.

The result of this exercise is an assembled “proof” and the beginnings of a master plan. The process as much as the final plan is important and useful.

Once this preparation phase is complete, can the business owner move on to the decision phase.

Each phase or step leads to the next and a final decision.  Should you have any specific questions, give us a call or drop us a line.

 The New Paradigm Advisors team

Exit Planning: Discovery

As you begin the voyage of discovering the value of your company, you need to start right there: in the mode of discovery.

This phase takes two paths:

  • Business valuation
  • Assessment of your personal financials

By taking each of these components separately a clear evaluation of both “halves” of the equation can be dealt with realistically.

Truly, until you understand the value of your company viewed along with your personal financial picture, neither evaluation will be complete nor clear.  A chicken-or-the-egg scenario at its best.

Once those two evaluations are made, they dovetail nicely into a prioritized action plan.  And by plan we mean a step-by-step set of actions intended to reach a goal.

That’s our next segment: preparation.

Each phase or step leads to the next and a final decision.  Drop us a line or give us a call should you be in a similar situation.  We all need someone to talk with–try talking with us..

 The New Paradigm Advisors team

Summarizing the Four Drivers

We’ve talked in this space individually about the four drivers of a successful transition.  Let’s finish this series up by putting the four all in one place and tying them together.

As you recall from earlier blogs and a recent workshop, the four drivers are:

  1. Creating a future vision for your company and you.
  2. Building a structured environment that is flexible.
  3. Detaching yourself from the organization and affirming that position.
  4. Fashioning a team environment.

The order is significant as well: create a vision, build an environment, detach yourself, and put the team in charge.  While there is some overlap and some of the work you do in each of these areas is concurrent, the outcomes should be the same if you pay attention to the specific sections and concentrate on the end result.

In fact, the vision is most likely an on-going refinement exercise, once you get the key elements down and in place.

Truthfully, the structured environment is most likely there, it just has to incorporate flexibility.  And, as we noted in that specific post, is an organic process that relies heavily on teamwork and simplicity.

The detachment piece is probably the hardest element of this process for the founder-owner-entrepreneur.  Letting go and watching “your baby” thrive without you usually takes some getting used to.  But countless business owners have done it and do it well.

And, finally, having the team in place to keep everything moving forward and into the future.  Remember the team includes not just your internal team (employees and staff), it includes your suppliers and partners and your customers.  The well-oiled machine has many moving parts.

Good luck with your transition.  Should you have any questions or would like to explore this topic further, contact us.