Day: January 5, 2025

How to Make Priority Setting Work: A Follow-Up to Our Ideal Operating Cadence

Welcome back! Today, we’re diving into a crucial follow-up from our Ideal Operating Cadence podcast from February 23rd. In that episode, we outlined the optimal weekly, monthly, and quarterly meeting cadence for small to medium-sized businesses, integrating Key Performance Indicators (KPIs) and ROCs (Rocks of Cadence). If you missed it, I highly recommend checking it out for a comprehensive overview of meeting structures.

This post is all about making Rocks or priority-setting work effectively. It’s one of our most popular topics, rivaling our top podcast on delegation. So, let’s break down why we need Rocks and how to implement them successfully.

Why Do We Need Rocks?

The concept of Rocks comes from Stephen Covey’s Seven Habits of Highly Effective People. He uses a powerful metaphor: imagine a mason jar representing your time. If you fill it with sand first (the daily tasks and minor obligations), there’s no room for the big rocks (your most important priorities). However, if you put the big rocks in first, the sand will fill the spaces around them. This illustrates the importance of prioritizing the most significant tasks to ensure they are accomplished.

In Traction, a book by Gino Wickman, the idea of Rocks is further developed for scaling businesses. For businesses trying to move from $3 million to $10 million or from $40 million to $80 million, focusing on the top priorities is crucial. Rocks help businesses stay accountable and clear on their goals, preventing the overwhelm of too many tasks.

How to Make Rocks Work

1. Specificity and Measurement

A common pitfall with Rocks is their lack of specificity. Vague goals make it hard to track progress or learn from outcomes. Rocks should follow the SMART criteria:

• Specific: Clearly define the goal.
• Measurable: Include a way to measure success.
• Attainable: Ensure the goal is realistic.
• Relevant: Align the goal with broader business objectives.
• Time-bound: Set a deadline.

For example, instead of saying, “Improve cash flow,” specify, “Increase cash flow by collecting an additional $150,000 in revenue by the end of the quarter.”

2. Action Plans with What, Who, and When

Each Rock should have a detailed action plan. Identify:

• What: The specific actions needed.
• Who: The person responsible.
• When: The timeline for each action.

Examples from Different Industries

Let’s look at how different industries can apply Rocks:

Retail:

• Rock: Successfully open a new store by June 2024.
• Lagging Indicator: Achieve $X in sales in the first quarter post-launch.
• Leading Indicator: Secure 500,000 impressions through an email campaign.
• Action Plan: Assign a person to run the campaign, hire the store manager by a specific date, and complete store refurbishment.

Financial Services:

• Rock: Grow the business to meet 2024 revenue goals.
• Lagging Indicator: Hit the second-half revenue target.
• Leading Indicator: Number of deals closed or promotions executed.
• Action Plan: Set up a CRM system, send targeted mailers, and monitor sales funnel metrics.

Continuous Improvement

It’s essential to review and learn from each Rock. Ask questions like:

• Did we achieve our goal?
• What worked well, and what didn’t?
• How can we improve for next time?

By aligning your team around clear, measurable priorities and detailed action plans, you set your business on a path to scale effectively.

Managing Up: A Guide to Better Performance and Job Satisfaction

In today’s fast-paced and demanding work environments, the concept of “managing up” is more relevant than ever. Whether you’re reporting to a board, a CEO, or a demanding boss, mastering this skill can significantly impact your performance, job satisfaction, and overall career trajectory. Let’s dive into how you can effectively manage up and foster a productive relationship with your superiors.

Key Components of Managing Up

Managing up involves several critical elements that, when practiced, can lead to improved workplace dynamics and outcomes. Here are four main points to focus on:

1. Humility

Humility is perhaps the most underestimated yet crucial aspect of managing up. Jim Collins’ study on “Level 5 Leadership” highlights that humility, coupled with fierce resilience, are the top characteristics of successful leaders. Humility in the workplace means having a realistic view of your importance, being open to feedback, and maintaining the freedom from pride or arrogance. This mindset allows for better relationships with superiors and fosters a collaborative environment.

2. Clear Expectations

Establishing and maintaining clear expectations is fundamental. It’s not just the boss’s job to define roles and responsibilities; proactive communication is essential. Ensure that job descriptions are up-to-date, and don’t hesitate to request crucial conversations to clarify expectations. Taking the initiative in setting these parameters shows responsibility and dedication.

3. Deliver on Commitments

Consistently delivering on promises builds trust and credibility. Meeting targets, adhering to budgets, and completing projects on time are powerful ways to demonstrate your reliability. Even in challenging situations, maintaining a track record of achievement can mitigate differences in communication styles and leadership philosophies.

4. Effective Communication

Communication is the backbone of managing up. Building relationships through regular check-ins, casual lunches, or coffee meetings helps establish rapport. Being proactive in requesting one-on-ones and understanding your leader’s goals can significantly enhance your working relationship. Moreover, delivering feedback respectfully and celebrating their successes are vital aspects of effective communication.

Practical Tips for Managing Up

• Be a Servant Leader: Adopt a service-oriented mindset toward your superiors. This doesn’t mean being subservient but rather being willing to support and learn from them.
• Admit Mistakes: Acknowledging your errors demonstrates accountability and builds trust.
• Stay Open and Curious: Regardless of your success, maintain a learner’s attitude. This openness can lead to new opportunities and better relationships.
• Balance Pushback and Compliance: Knowing when to respectfully challenge decisions and when to follow through is key to managing up effectively.
• Set Boundaries: Communicate your limits clearly to ensure mutual understanding and respect.

An Open Letter to Bosses and Board Members

For leaders, understanding the dynamics of managing up from your direct reports’ perspective is equally important. Over-accountability can stifle openness and lead to underperformance. Balancing high accountability with psychological safety creates an environment where employees feel valued and motivated to contribute their best.

Listen to your team, celebrate their wins, and foster relationships through positive recognition. Being approachable and maintaining humility, even at the top, sets the tone for a healthy and productive workplace.

Conclusion

Managing up is not just about making your boss happy; it’s about creating a harmonious and efficient work environment that benefits everyone. By practicing humility, setting clear expectations, delivering on commitments, and communicating effectively, you can enhance your performance and job satisfaction. Stay curious, stay humble, and keep the lines of communication open. These principles will not only help you manage up but also enrich your professional life in the long run.