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1 Hour of clarity for a successful business and a better life.
This is a simple and extremely effective task, when you consistently apply this you will take your business to the next level!
Today we live in the information age, it’s great, things happen at the touch of a button.
We have access to cash in any country in the world through a machine (or cards), instantly chatting over Skype or FaceTime. We have everything at our fingertips.
But there are some downsides. We are busy and distracted, always connected…
Volumes of research tell us that to really solve problems, to really be creative or innovative we need to focus.
But as business leaders, we are constantly being overwhelmed with a barrage of information, decisions, questions, and problems. This overwhelm leads to decision fatigue (yes it’s a real thing), poor judgment, negative attitudes, and ultimately hurts both our business and personal life.
I recommend taking 1 hr of clarity to think about the big things that matter in your business. The things that make your business a massive success.
Follow these simple 10-steps:
Clear your diary for 1 hr
Find a quiet place – no computer/tablet/phone.
NO DISTRACTIONS
Go old school, pen, and paper only.
Dedicate the 1st 30 mins to just thinking about the future.
Dedicate 10 min to just writing – write your thoughts, your emotions, whatever comes to mind. – REFRAIN FROM PLANNING (that comes later)
Take a break for 10 min – have a coffee/water, walk a little stretch
Revisit your notes – spend 10 min defining each item by its outcome ($, hrs, emotional state). This is your success factor.
Put the piece of paper in a safe place.
Give it a few days (this leverages your subconscious mind)– go back and re-read. Prioritise and create your plan.
I was that busy-ness guy. The 80-90 hrs per week, the 260 days of travel, neglecting relationships, caught-up in the day-to-day panic stations of a business – That guy.
But I found a way to #breakfree, to have my #cake and eat it too.
So can you!
** Warning what you see here may change your business life – forever…**
Transcript
00:00
“Time is money!” It’s an old saying but does it still hold true today? I’d say no!
00:06
I mean I think there was a time when maybe it was true there was a time when we
00:11
weren’t connected 24/7 through our smartphones we didn’t have laptops to
00:15
take our home with us in those times where people worked you know 8:00 to
00:20
4:00 maybe it was true, but in this day and age it’s just not true anymore.
00:27
Time is so much more valuable than Money!
00:31
It’s really really important I think to think about that and you know I know
00:38
this firsthand I started a business a number of years ago and you
00:44
know I was working 80 to 100 hours a week
00:46
and I was on the road traveling I was traveling 260 days a year I was missing
00:54
seeing my family grow up it was really hurting my relationship with my wife I
01:00
was neglecting friends and family really and I wasn’t doing it because I loved it
01:06
I mean of course I I was driven and I enjoyed the business and I had loved
01:10
growing it and doing those things, but I was really working those long
01:14
hours because I didn’t know any other way and I was sort of stuck I was you
01:19
know always running from client meetings and sales meetings to fighting fires
01:26
with staff you know operational issues dealing with those. Just day-to-day
01:31
thinks constantly coming up and you know taking up a lot of time and I and I
01:37
we had staff, good staff, and you know they wouldn’t be able to get things done the
01:42
way I expected. For a long time I thought you know this is because the
01:48
staff I’m wrong you know it’s difficult to get good staff and all these things
01:54
and then I dawned on me that it’s not them it’s me! That the
02:00
problem is I don’t have a framework to manage
02:04
I came from accounting background have a lot of technical
02:07
knowledge and but I didn’t really have the the framework and
02:13
knowledge to manage these things appropriately so when I when I realized
02:19
that I set about changing that. I developed a framework for management
02:23
that has become extremely effectively and I’ve actually been able to sell this
02:28
framework into very large operations and I’ve just recently adjusted this
02:33
framework to be able to sell it to medium-sized and small businesses at a
02:37
much more reasonable rate in ways so they can get access to it as well and
02:43
really there was sort of three key things that I had to change in order to
02:47
achieve this and to achieve what I call financial peak performance which is a
02:51
way of teaching your business to manage itself. The first thing that I had to
02:56
do is I had to ignore the old way of managing people. Your typical
03:00
way of managing people is to you know give them instructions here’s how you do
03:07
something go and do this like this and instead really pull back and think
03:14
about the WHY rather than how you do it, why you do it and give them some
03:18
parameters around what needs to be achieved and then let them work out the
03:21
how and you know the funny thing is they actually came up with better ways of
03:25
doing it anyway so it was a huge benefit there. The other piece really is around
03:31
measuring your business understanding business so I sort of just I just got
03:36
rid of the old way of measuring a business. Sales, Profit, monthly reporting and
03:41
instead I switched it to what I call Ultimate Customer Values. Which is a way
03:46
to really focus on your business from a customer point of view and understand
03:50
your business from a customer point of view, this is great because
03:54
it adds more value to your customers which then in turn adds value to you business.
03:57
Then the last thing I did is I developed short interval feedback sessions and
04:05
what these are really a process for your staff to be able to come up with ideas
04:11
to problem-solving and make it decisions on their own so that you see you don’t
04:15
have to be involved in everything and this was a massive game changer!
04:19
This allowed me to step away from business and really allowed the businesses
04:23
start managing itself. Now I’m still involved of course but the staff have
04:27
taken on you know they took on much more of the day-to-day activities they took
04:31
on a lot more of those they took ownership of them and that allowed me to
04:35
step back and look on those bigger things you know work on where the
04:39
business is going work on managing those bigger items, to make any problem solving
04:44
ideas they came with work and you know at the end of all of that I think
04:49
so for example today I’ve been heavily an hour of clarity session.
04:52
Three, four years ago this would be impossible I just couldn’t get away and
04:57
take an hour out to sit down and just think about the business and I think it’s
05:02
totally totally critical for you to grow and to really improve so you know these days
05:07
I like work less hours, I make more money and the business ticks along without me
05:12
which is which is exactly what I was aiming for my business I started a
05:16
business to flexibility to have more time with my family to have choices and
05:21
you know it didn’t work out that way because I had less choice I had all
05:27
of these things going on until I built this framework and so now the framework
05:31
is in I have those choices now, I can make those choices.
05:35
You can do the same, anyone can do the same in their business, you just need to make
05:39
sure that you focus on those key three things and remember it’s not a “magic formula”.
05:43
You need to take some time and you need to take some effort but you can do it.
05:48
Get a methodology, use a methodology if you want more information about my
05:53
Financial Peak Performance methodology then reach out, but you can use
05:57
a different methodology. Just get in there and get it done.
06:01
Focus the energy and the time and get it done!
You have permission….
to take time out…
Actually it is your job so make it your mission!
As a business leader it is important to recognise that your role must change from doing to leading.
It is your role to do the heavy thinking for your business.
It’s not a nice to have but a must have!
It is easy to get stuck in the grind, answering questions day in and day out.
Managing every aspect of your business.
Not able to fee yourself from the continued cycle of fighting fires to catching up on last week’s tasks….
I’ve been there.
I thought that I had to be busy to show a good impression to staff, I had to be there, on call to solve all their issues immediately….
That’s my job… isn’t it?
It was my job and I was stuck in a perpetual cycle I couldn’t get out of.
I thought I was doing the right thing, by my customers, mys staff and my business.
But I wasn’t.
Staff relied on my decisions more and more. Not because they couldn’t make decisions but because it wasn’t clear is they should – “Bob asked the boss so I should too”
Customers got frustrated as questions were not answered quickly whenever I was not available.
Innovation dwindled, and the business whilst still successful was losing its lustre….
I was frustrated and so was everyone around me.
Then I gave myself permission to take time out.
I started small 1 hr per week.
At first it was hard.
I had to set up the management support and infrastructure (using the Financial Peak Performance framework) to be able to pry myself away from the day to day.
But it got easier.
Staff struggled too at 1st I wasn’t available to answer every question. I had to give them permission to make decisions.
I had to set the goals and expectations to help them make the right decision.
But the returns were phenomenal, happier staff, better customer service, better quality and more profit!
I give myself permission every week now – here is quick update from last Friday’s.
How to succeed in business like Jeff Bezos, Warren Buffet, and Bill Gates…
From the Business & Science series – by Brad Horan
There are many successful entrepreneurs out there, I am focusing on these 3 however I am sure there are others using the same techniques.
(The Ape is also there for a reason. We’ll get to that soon.)
I am referencing Jeff Bezos, Warren Buffet and Bill Gates because they have some very specific traits that other famous (perhaps more famous) entrepreneurs do not share:
They are 3 of the world’s top 5 richest (by high net worth) people in the world. (see summary later in the article)
Despite their massive empires they are known to have balance in their lives. They actually have time for family and friends.
They have very stable businesses that have proven to return profits over time (although that is arguable for Amazon)
I work with business leaders everyday and it surprises me that so many aspire to be Steve Jobs, or Elon Musk.
When did being busy, working long hours at the expense of friends and family become a measure of success?
Don’t get me wrong they are brilliant minds and very successful but they have both achieved success through incredible hardship and at a great cost to their personal relationships.
It has been reported that Steve Jobs regretted not spending enough time with his family.
Elon Musk… well there have been many reports of crazy long hours, emotional explosions, and poor relations with people in both his professional and personal life.
Despite this both Steve and Elon’s (yes we are on 1st name basis’) jam packed calendars and excessive working hours have somehow become a hallmark of being a successful entrepreneur….
Hmmm…
When did being busy, working long hours at the expense of friends and family become a measure of success?
Or worse an aspiration for young leaders….
How and why did this come about?
No-one on their death bed ever said “I wish I spent more time at the office” or “I wish I spent less time with my family and friends”.
Is it the lust for media attention that we have developed? Does having a full calendar equate to innovation and success?
Perhaps (as is my theory) it is simply that they are/were frequently in the media so it is at the forefront of our attention….
Meanwhile….. the richest people in the world DO NOT have full calendars. They make time for family and friends, and are reported to have strong professional and perhaps more importantly personal relationships.
No-one on their death bed ever said “I wish I spent more time at the office” or “I wish I spent less time with my family and friends”.
So if the measure of success should not be being busy, spending long hours at the office, and losing touch with friends and family, what should it be?
That my friend, is a question for another article (or hundreds).
But I do want to highlight you don’t have to spend forever at the office and alienate yourself from loved ones to be have a highly profitable business. That is not to say it is easy or you don’t have to work…
You guessed it!
Work smarter not harder. The Science proves it! – Metacognition, a deeper order of thinking.
Awareness and understanding of one’s own thought processes.
Metacognition – this is deeper thinking, and its a key ingredient for creativity and innovation.
Is deeper thinking becoming extinct?
It’s funny, we are the most sophisticated life-form on earth (that we know of), yet we are thinking deeply less than ever.
I recently saw a great talk on millennials by Simon Sinek a famous management theorist. He suggests that society has failed the younger generations who expect instant gratification, are constantly on their devices and struggle to hold enough attention span to hold a conversation much less to spend time deep in thought.
Our addiction to devices, technology, social media, and instant gratification is killing off deep thought, and with it creativity and innovation.
But I’m too busy to spend time just thinking…..
A quick history lesson.
A penny for your thoughts….
This saying (c.1535) was used to encourage re-engagement when someone was lost in thought. This metaphor indicates that thinking was valuable (offering what was 1/2 days wage just for your thoughts).
Scientists have discovered that other primates like Great Apes and Orangutans are also deep thinkers and that this ability is what enables them to solve problems and innovate.
So history shows that deep thinking was a very important part of our evolution.
Why you need Metcognition to be a great business leader.
As a business leader you must make the most impact in your business. ‘Thinking sessions’ help you accomplish this.
What is your role as a Business leader?
A quick Google search will provide 822 million answers in less than 1 second (amazing) they contain words like inspiring, motivating, instilling, problem-solving, strategy, innovation, honesty, empathy and the list goes on.
Ultimately your job is to ensure the business can perform at it’s very best which will require leveraging other people and technologies as well as employing innovation to always stay ahead your competition.
The research shows in order to inspire people, be creative, and innovate you must be self-aware. To be self-aware you must think about thinking, employ a higher level of thinking, deeper thinking otherwise know as Metacognition.
What now? You ask?
Put it into practice.
In contrast to Steve Jobs and Elon Musk, Jeff Bezos spends breakfast with his family most mornings. Warrant Buffet claims his calendar is 80% empty (yes empty that is not a misprint), and Bill Gates blocks out weeks at a time for intensive relaxation and thought.
These leaders allocate significant time in their calendars to thinking (Warren Buffett built his whole calendar around thinking).
Jeff Bezos will only schedule meetings that need complex problem solving in the mornings to reduce decision fatigue. That is how highly he rates thinking.
These business leaders are in the top 3 wealthiest people in the world and still manage to have time for friends and family.
They will tell you that allocating calm time to think has a massive impact on how well they perform as business leaders.
As a business leader, you don’t need to be the first one in, the last to leave, or have the busiest calendar, but you must make the most impact in your business. ‘Thinking sessions’ help you accomplish this.
In a world that is growing more complex and rapidly changing, the calendars of successful CEOs and business leaders will look more like Warren Buffett’s and less like Elon Musk’s!
If Apes can do it, so can you!
If you like this article there are plenty more of other interesting article herewww.lucrature.com/blog (I’m also a big Ted Talk/ Tedex fan).
All great businesses start off with a seed, an idea. They need support and nurturing to grow. It is not possible for one business leader to master all the necessary skills to really grow a business into greatness.
It’s confusing there are so many conflicting business management techniques and frankly many are difficult or impossible to put into practise.
Traditionally good advice is difficult and expensive to access, but armed with the belief that every business deserves a chance, that with great business advice everyone in the economy wins, he is disrupting the consulting market. He is leveraging technology and community learning to make top tier advice more accessible and affordable.
He has took 20 years experience as a chartered accountant and business consultant, distilled all that knowledge down into Financial Peak Performance, a business framework for mid-sized businesses that teaches business leaders to not only survive but supercharge their business.
Want to know more connect with Brad in LinkedIn or just send a message and say hi. He loves a coffee and chat!
Wealthiest people based on Net Wealth as reported in the Business Insider Jan 16 2018
Businesses often try to understand their customer outcomes by gut feel…
or worse by negative experiences e.g. complaints.
No complaints – customers must be happy….. Really do you go to complain to your local supermarket before you go to the big mall supermarket?
By the time someone makes a complaint you have pretty much already lost them.
Ultimate Customer Value helps you determine how you are delivery against your customer promises in real time! It’s no so much a system and methodology for defining and measuring your business against your customers’ experience.
UCV are the only measurements you need in your business!
Want to know how to set your Ultimate Customer Value KPI? Check out our Masterclass
Unfortunately there does not seem to be any concise definition of a successful strategy.
Perhaps that is because having a strategy is just 1 part of the puzzle. You also need:
A Business Strategy Plan or action plan to actually achieve your strategy
You don’t need a Business Strategy Template – just write down your answers to the 5 questions in my 5 part series.
Customer Value KPI (that really track customer value not just cost and sales) see my masterclass here
Well organise Management Infrastructure – this is what I call Active Management
In this 5 part series will walk you through a case study on how you can create our strategy, for your business or for anything where you compete for that matter.
By the time your complete this 5 part series will have clarity of:
What you want your business to be.
Where you want to play (and who your competition is)
How your going to WIN.
What ought to be true to achieve your business strategy
What is not true that needs action to achieve your business strategy
In this series you will not learn:
How to create your ultimate Customer Value KPI (but you can see that here)
The 5 steps to supercharge your business but you can sign up for it on our Contact page.
Unfortunately there does not seem to be any concise definition of a successful strategy.
Perhaps that is because having a strategy is just 1 part of the puzzle. You also need:
A Business Strategy Plan or action plan to actually achieve your strategy
You don’t need a Business Strategy Template – just write down your answers to the 5 questions in my 5 part series.
Customer Value KPI (that really track customer value not just cost and sales) see my masterclass here
Well organise Management Infrastructure – this is what I call Active Management
In this 5 part series will walk you through a case study on how you can create our strategy, for your business or for anything where you compete for that matter.
By the time your complete this 5 part series will have clarity of:
What you want your business to be.
Where you want to play (and who your competition is)
How your going to WIN.
What ought to be true to achieve your business strategy
What is not true that needs action to achieve your business strategy
In this series you will not learn:
How to create your ultimate Customer Value KPI (but you can see that here)
The 5 steps to supercharge your business but you can sign up for it on our Contact page.
