A while ago I was fortunate to be in a one day workshop with senior management from Frankin Covey. Franklin Covey is an organisation focusing specifically on the Execution of a strategy or plan. Most degrees or masters courses are focused on what to do in business, but often not specifically how to execute it.
The theory is that we’re all so often caught up in the Whirlwind of our day jobs, that we don’t get a chance to focus on the Wildly Important Goals (WIG) which make a big difference to ourselves and our work in the long run. It is fundamental to schedule in a handful of one hour slots to focus on our Wildly Important Goals every week. To know what to do, we simply respond to the question: What are the 1-3 things I could do this week which would have the biggest impact in my business (life, relationship etc), then use those one hour sessions to focus on those things.
Here are the summary points of the 4 Disciplines of Execution or 4DX.
Discipline 1: Focus on the Wildly Important
You can have no more than 1-3 WIGs for the same team at the same time because statistics say if you aim for:
1-3 you’ll achieve 1-3
4-10 you’ll achieve 1
11-20 you’ll achieve 0.
For all you Creators out there, take heed from the words of Tim Cook, Chief Operating Officer of Apple, “We say no to good ideas every day. We do this to make great ideas happen.”
Discipline 2: Act on the Lead measures
Lead measures differ from Lag measures insofar as Lead measures measure what you do to get the result of the Lag measure. For example, the number of calls you make to make a sale are measured in the Lead measure. The Lag measure would be the number of sales you make or the value of those sales. This discipline suggests that you act on the activities which give you the result (i.e. make calls) and not concern yourself with the result itself. The Lead is the lever, the Lag is the rock: focus your attention on the lever. Also, Lead measures are characterised by being predictive and influenceable whereas Lag measures measure the goal and are generally easier to measure.
Discipline 3: Create a compelling scoreboard
The scoreboard helps you and your team see how well you’re doing.
It has a few criteria to be compelling and should be:
Visible to the players
Show the lead and lag measures
Tells us immediately if we’re winning or losing
Must be engaging
For morale purposes, remember that if we feel happy and that we’re winning, we’ll contribute more. It’s a great idea to get the people who are using the scoreboard to be a part of designing or creating it. It is important to note that you must be measuring the right things for this to be effective.
Discipline 4: Create a Cadence (or pace) of Accountability
This discipline is fundamental to this process working. It suggests a very short (3 mins per person) weekly meeting where each team:
Reports on last week’s commitments
Reviews and update the scoreboard
Makes commitment for the next week and
Identifies and asks for help where required.
Remember to ask yourself each day or each week – What are the 1-3 things I could do today to make the biggest impact on my vision/life/family …
Do you have a different strategy which works? If so, what do you do?