Business Coaching for Owners & Managers of Small Businesses » actionable

Feeling Lonely? Call a Meeting – more from the world of meetings

Mark Orton — Mon, 18 Jul 2011 19:40:33 +0000

Recently I was talking with two clients (partners in an engineering firm) about meetings. In particular were the meetings that one of their customers was calling on short notice with no formal purpose with a cast of thousands. We were puzzling through the various ways they could handle customers who think that it is alright to have meetings that take up lots of time and only really involve my clients occasionally for their input and expertise.

Feeling lonely today? Let’s call a meeting.

Suddenly, one of the partners, chuckled and gained the floor (not too difficult with only three people in a Skype videoconference). He recalled an earlier job in a medium size technology firm where the standing joke among the engineers concerning management was, “These guys seem to operate on the principle, ‘Feeling lonely today? Let’s call a meeting.’ “

After we all laughed a bit we once again returned to the ugly reality that most managers still do not conduct meetings following even the basics of best management practices. They do not ask what the meeting is about, what are the deliverables to be expected? Who actually needs to be at the meeting? Do we have enough information, data, to hold this meeting? Do we have a reasonable expectation that we can reach some actionable conclusions that will lead to real tasks with real outcomes? Or, is this just another meeting held ritually to review the status of projects? The moto of this approach to meetings is lets get everyone in the room and kick things around until the day has passed and everyone is bored to death.

Meetings are the lifeblood of organizations. Plan them as though blood will flow.

Meetings are the lifeblood of organizations. But, they need to be conducted as if blood was literally being spent in the process.

Getting Things Done by David Allen – a revisit

Mark Orton — Wed, 08 Apr 2009 14:57:21 +0000

I have used David Allen’s book, Getting Things Done: the art of stress-free productivity (Penguin: NY 2001) both personally and with clients for a number of years. Recently I volunteered to lead a discussion of the book’s approach to personal productivity with the Greater Boston Business Network. This provoked me to re-read the book in preparation. Here are a few thoughts following my re-read and the discussion with GBBN.

Underlying Principles and Thoughts

Work and personal are now quite blurred. And so, this book is about everything in your life. There is no boundary between work and personal when it comes to being more productive. And, your mind does not treat them as separate, so a productivity system can not either. There is also a need to incorporate the big picture, strategic view, with the tactical day-to-day, but the emphasis must be on actionable tasks. Thus, the title, Getting Things Done.

Getting into a “Productive State”, what I might call a state of flow, when required is both a challenge and an objective of a productivity system.^[[1]])

Allen builds his approach to productivity on a few “principles”.

First principle: Deal Effectively with Internal Commitments

If it’s on your mind, your mind is not clear. Put this stuff in a trusted storage system
Clarify what the commitment is, what you have to do to make progress
Keep reminders in a system you review regularly

A key phrase here is: “trusted storage system”. It is exactly the trusted storage system that both gets all this stuff out of our heads and away from the worrying, fretting machinery of the mind and provides a robust platform for action. In the trusted storage system, we know that nothing is ever lost and we know where to turn to find the next action.

This leads to one of Allen’s key action steps:

Transform “stuff” – “stuff is anything you have allowed into your psychological or physical world that doesn’t belong where it is, but for which you haven’t yet determined the desired outcome and the next action step.”

Allen calls this step “Mind Sweep”. Allen provides a long list of memory triggers to help you remember all of the “stuff” in your life and get it down on paper and out of your head.

Second Principle: Managing Action is the Prime Challenge

We need to be clear about what the work is about and what the next steps are to get it done. Allen is clearly not a supporter of that oxymoronic concept: time management.^[[2]]

He clearly see that being more productive is all about making choices correctly and taking action, getting things done. Time takes care of itself as it will inevitably. Managing action requires horizontal and vertical action management. The horizontal manages the current environment of tasks while the vertical organizes the longer and more complex projects that frequently also require more complex social involvements with others to get things done. This is where project management fits in.

Five Stages of Mastering Workflow

Allen posits five stages to a solid workflow. These are:

Collect things that command our attention
Process what they mean and what to do about them
Organize the results
Review and choose
Do

Allen provides the following flow chart:

From My Use of the Book

In my work with Getting Things Done, two practices have proven most valuable.

First, I regularly go back to the “Mind Sweep”. I tend to build up a worrying collection of stuff especially obligations to others. The mind sweep helps me put these down on paper and also reminds me to be more disciplined about making commitments that many times I should not make in the first place.

Second, I have really put in practice Allen’s ruthless passion for filing things away. I have a two part system. First, there is filing of clients in alphabetical order. Then, in separate filing drawers everything else is filed alphabetically. And, following Allen’s office design principles, these file drawers are at easy reach from my desk chair. No need to get up to find anything in this file system. I even own a P-Touch label maker and regularly make labels for my file folders.

My computer files are similarly structured. I have the same folder structure on my computer today as I had two years ago when I last did a major house cleaning. Clients are all in individual

From the GBBN Discussion

One point that came up during the discussion with business people at the Greater Boston Business Network is that the exact shape of your “trusted system” is not so important. If you have a reliable system like Day Timer working for you, keep at it. Though, perhaps you can improve your productivity through applying some of the other tools in Allen’s approach.

Now, six years on from my first read of Getting Things Done, this little book remains a useful tool. If you have not read it, go to your local library or visit the bookstore, physical or virtual. Also, go to David Allen’s website learn more about his personal productivity tools.

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Here you might compare this with the work on how we work best in a state of “flow” as discussed in see Mihalyi Csikszentmihalyi’s Flow: The Psychology of Optimal Experience ( Harper Row, NY: 1990
I wrote an earlier musing on this topic in my posting: Time Management – is now the time to get beyond this distracting oxymoron?

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Podcast – Increase Your Value Through Customer Perception in Professional Services

Mark Orton — Wed, 25 Feb 2009 01:15:37 +0000

Increase customer perceived value by managing expectations, making services visible, and following up.

This podcast is 12 minutes 41 seconds long.

A text version is available here

Podcast – How to Hire a Part-time CFO

Mark Orton — Wed, 04 Feb 2009 20:13:32 +0000

Five steps to hiring a part-time CFO to simplify your life.

This podcast lasts for 8 minutes 49 seconds.

A written format is available here.

How to Hire a Part-time CFO

Mark Orton — Tue, 03 Feb 2009 22:41:46 +0000

In my earlier article, Seven Reasons to Add a CFO – part-time or full – to Your Team, I discussed the reasons to add a Chief Financial Officer (CFO) to your team. If you have not read that article you should do so before reading this one.

The first step in the hiring process is to define the job you want filled. What specific results should the CFO produce for you and your company? Are you concerned about running out of cash because you have taken on a big project but will not get paid until completion? You worry about having enough cash on a regular basis. You are not certain that the bookkeeping is being done in an efficient and rigorous manner? What else of a financial character concerns you? Is your CPA driving you crazy with questions or suggestions that you do not entirely understand?

Make a list. Look back at the seven reasons I gave in my earlier article and see if this don’t provoke some additions to your list of worries. When you have completed your list, these are the problems, largely, that the CFO should solve.

Do not spend too much time thinking about exactly which functional skills are required to produce these results. It is the job of candidate CFOs to demonstrate to you that they have solved problems like yours and produced the required results. You are not hiring a trainee or development project, you are hiring an experienced CFO.

A few concrete skills and experiences you should look for.

First, your CFO must know how to get their hands dirty. This means they must have active skills to build spreadsheets and extract information from financial software systems and paper documents. Second, they must know how to present this to you in a clear, actionable format. A key task for them is to get financial information about company performance into your hands in a timely fashion and in a format that leads to making decisions. Third, preferably they will have experience in your industry so that they can set the analysis within the context your business lives in. Fourth, they should have worked as part of a team so that they have the skills to present the financial “score” clearly and then engage in a dialogue with the other management team members to help drive the business forward in a coherent fashion. At the level of the CFO, finance is not an isolated function, rather, it plays an integral role in managing the ongoing business and developing new strategies.

Write a one page description of the results you require and the skills and experiences that you think will be needed. Keep this simple - bulleted lists are great. You will use this when you go to the next step.

Where to go hunting?

You should certainly alert your close business associates that you are looking for a part-time CFO. Do a Google search. There are now plenty of providers of these services. Here is a saved Google search (opens new browser window). Put an ad on Craigslist.

I would suggest starting out with the consulting firms that specialize in this work. Interview a couple. You will learn a great deal about how they might approach your situation. This may help you sharpen what you want to achieve. Under no circumstances should you pay for an assessment or any other consulting projects as part of this interviewing. Any consultant should be more than willing to come to your office to talk things over without any further obligation. Since they are experienced, they will conduct their assessment of the situation right in front of you and with considerable accuracy in under an hour. Don’t forget consultants interview far more companies than you.

You may be overwhelmed by the number of candidates. Just pick out three or four who really seem solid. If you are comfortable on the telephone, conduct a telephone interview to sort out the persons you want to invite for a face-to-face. This article is not the place to discuss interviewing strategies and techniques, but certainly keep in mind that you will be looking to confirm that they can deliver the results you are looking for and have the inter-personal skills to work well with you and the other members of your company. Envision this selection process just as you would for a permanent full-time employee. A CFO, even a part-time one, should be a significant asset in your business, not a simple replaceable part.

The Deal.

Experienced consultants will always present you with a proposal that describes the scope of the tasks, what they will do, and what the “deliverables”, the results, will be. This proposal will also indicate some level of effort that they expect to put into the job. Keep in mind that they do not have to be on site to be productive. The proposal will also define some compensation arrangement for the work. Some will charge on an “as consumed” basis to an hourly or daily rate. Others will propose a fixed monthly charge for the level of effort described. Everything is negotiable, so think through how you would like to work. Always make sure to include an early review period (more on this below) and a cancellation process that is mutual and no-fault. Finally, you should look for a non-disclosure statement as part of any contract to protect your confidential business information.

Getting to Work.

Set time aside immediately to introduce your new CFO to every aspect of your business. They really need to understand what the business is about, who the customers and vendors are, and a myriad of other facts. Include a discussion of your forward looking plans and strategies so the the CFO can set these objectives in view as analyzes are developed.

Be sure to check in regularly with your CFO to make sure that progress is being made on the results you need. Set an early time for a formal review session. A month to two months from the start date would be right. You want to take an early reading of how the CFO is functioning. You will almost always have to make course corrections both to objectives and work processes. However, if you see that you or the CFO have made a mistake and the relationship will not work out, do not delay. Bring the relationship to a halt right away.^[[1]] Find another CFO and ask the old CFO to bring the new one up to speed. You are dealing with professional consultants, not employees. They never like to loose a client, but they will certainly do their best to make the transition smooth. They need you to think well of them.

This is just the beginning of your work with your new CFO. It will be productive. Have fun.

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I wrote about this issue in an earlier article, “Managers – Early Intervention Is Key To Getting Your People Right” (opens in new window), that you can review if you find yourself in this situation.

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Podcast – Why and How to Develop a Business Plan for an Ongoing Firm

Mark Orton — Thu, 06 Nov 2008 22:38:02 +0000

Why you need a business plan and how to develop one that leads to action not the dust bin.

This podcast is 13 minutes 10 seconds long.

A transcript of the podcast is available in PDF download format here.