In the Spirit of The Checklist Manifesto

Regarding Mike’s checklist below, one reader commented, “So much info in so few words.  Tostloy could learn a lot.”

Growth vs. Turnarounds

I have had the ability to manage through growth and turnarounds. Here are a few ways to make sure a growth story doesn’t become a turnaround:
  1. Understand the concept of sustainable growth
  2. Keep a sharp look out for market trends and changes
  3. Take appropriate risks
  4. Constantly rationalize and be brutally honest
  5. Chase the business
  6. Have contingency plans

Five Ways CEO’s Can Better Serve Their Organizations

  1. Practice servant leadership
  2. Listen well and exercise more EQ
  3. Be open and secure about your own developmental needs
  4. Be comfortable with being uncomfortable
  5. Accept criticism as part of the job spec

The Code on Life

I have cracked the code on life.  When people hear me say that, they perk up their ears and want to know the formula.  Well here are a few principles.  After all, wisdom isn’t what you know, it’s how you live.

  1. It’s simple but not easy
  2. Conquer your own mind
  3. Ignore the Joneses
  4. Don’t be fooled by the myth of tomorrow
  5. Less is more
  6. Be above it all

A Powerful Habit

Friends and Associates are often amazed at the things I have captured in writing.  However, it is what I do with it that makes it so special.  For example, of course I put my annual goals in writing but I also have in writing my lifetime goals, my definition of success, a list of high value added activities, valuable lessons learned and what makes me happy and unhappy, to name but a few.  Then I institutionalize it all through repetition, refinement and reinforcement.  Lastly, I take regular inventory (daily, weekly, monthly, annually) to make sure I am staying true to these goals and guiding principles.  Collectively, these very powerful habits have resulted in clarify, focus, easier decision making and high ROI over many years.

Creativity in Business

You can be creative with your right brain and your left brain.  To do so:
    1. Ask lots of questions, probe and brainstorm
    2. Dig deeper; challenge the status quo; explore the lunatic fringe
    3. Recruit others and fight the naysayers
    4. Beg, borrow and benchmark other industries
    5. Innovate by doing

Remember, it doesn’t have to be sophisticated to be industry changing.

A New Professional Challenge

I’ve been asked “what do you do when you walk into a new company?” Besides smile and shake a lot of hands, here are my top five when taking on a new professional challenge:
  1. Get a clear understanding of goals, expectations and timeframes
  2. Establish and build necessary relationships
  3. Maximize your objectivity and cover lots of ground over the first 90 to 180 days
  4. Build your plan (and think transition)
  5. Gain early momentum by addressing critical issues and the bang for the buck opportunities

Lessons on Work, Life and Community:

I wrote a book that I called “A Magic Wand, 8 Principles for a Life of Success.”  In it I try to share some valuable lessons that I have learned over the years.  The 8 principles are:

  1. You’re in Charge
  2. Life is a Series of Choices
  3. Think & Act Long-Term
  4. Apply Yourself
  5. Embrace the Powers
  6. Save, Spend & Invest Wisely
  7. Define Success Broadly
  8. The More You Give, The More You Get

From Turnaround to Growth

I’m often asked how I turnaround a company. Everybody wants to know the three things. Well it’s not three things, it’s 3,000 things.  However, as the turnaround starts to take hold, there are certain shifts that need to occur in your thinking and actions.  Some to be mindful of include:

  1. From inside-out to outside-in
  2. From crisis management to forward planning
  3. From cost cuts to strategic investments
  4. From dismantle to build
  5. From job elimination to job displacement

Acquisitions

Here are a few reasons why some acquisitions get into trouble:
1.  The Winner’s Curse
2.  Poor due diligence that leads to surprises after the close
3.  Major shifts in the market
4.  Weak (or non-existing) integration plans
5.  Human challenges and social issues

Selling a Company

Selling a company can be like selling a house. That is, you have to prep the house, show the house and handle the home inspections. A few considerations if you are considering selling your company:
    1. Network with likely buyers well in advance
    2. Get your ducks in a row and don’t launch prematurely
    3. Corral the Broncos
    4. Create excitement around the story
    5. Keep it quick and protect the business during the sale process 

Self-Awareness and Self-Acceptance

I have two distinguishing features:  a bald head and a big nose.  My mother gave me both.   They are easy to see and there is no use in denying they exist.  Now what is there about me that is not as easy to see?  Is there any use in denying they exist?  As an advisor once told me “you are not doing them any favors letting them believe you are something other than what you are.”  A great piece of wisdom that has helped me better lead others.

Career Transitions

When looking for your next professional challenge, there is a lot of upfront work required before you send out a resume or start making contact.  In fact, I believe  there are at least 10 things you should put down on paper before starting your search.  They include your career spec, your story, your pitch and your network plan.

Taking Time Off

Tips if you are considering taking some time off between challenging assignments:
1.  Get early alignment from your loved ones
2.  Have a written plan & a long list of things you want to accomplish
3.  Compartmentalize well
4.  Don’t expect others to drop what they are doing for you.  As my wife says “You came into our life, we didn’t come into yours”
5.  Control your mind
Grow2Day
Austin, Texas