Your Plan Won’t Save You in a Merger—But This Will
Your plan won’t save you. A strategic planning system designed for high-stakes execution will. Here’s how top community banks avoid merger collapse.
I believe good business is just a series of good choices strategically and effectively implemented.
In this episode, I’ll show you how to help your executive team make better decisions faster.
EVERY organization is facing these challenges to effective decisions in less time.
I’m now going to give you three steps that will help you get your team “owning” how they recommend and decide on key decisions better and faster.
Step 1: Stop the “death by meeting” approach where your team members bring things into the team as “concepts” and want to “chat” about them. Make sure that each person writes up their presentation with all the facts so that all you do in meetings is to make the decision.
Step 2: Make sure your team is applying critical thinking when they present a solution. After all, you can find someone on fivrr.com to research less than the cost of a decent lunch. You’re paying your people for their thinking. Demand that they deliver.
Often, people don’t explain the history, or the impact, or the things that will get disturbed by the decision. If all heck’s going to break loose when you implement the idea, you want to know BEFORE you make the decision!
They need to be taught HOW to think through an issue, so they address it. I’ll never forget serving on a board where the write-ups that were decided on often lacked the RIGHT supporting info. I remember the board stumbling around, trying to decide by guessing because a decision was due. The retractions were embarrassing AND EXTREMELY costly — hard lesson.
Step 3: Once your key people are trained on this decision-making process, don’t allow anything in front of the team that doesn’t follow the process. If you do, things will get sloppy, and you’ll find yourself right back in the thick of “death by meeting.” It just keeps coming back unless you take action to make sure it can’t.
The person making the recommendation MUST sign it and put their butt on the line for what they recommend instead of delegating up the decision with an “I don’t know, what do YOU think we should do?”
Three steps:
By nailing the executive decision-making process, the percentage of optimal decisions goes up substantially and reignites the joy of being an executive by stomping out the spinning in circles that chews up expensive executive time. Don’t go far. My next episode is something I haven’t shared before and will REALLY boost results quickly. See you then.
Your plan won’t save you. A strategic planning system designed for high-stakes execution will. Here’s how top community banks avoid merger collapse.
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