A good overview of the frameworks needed to build a high performing organization.
Mostly focused on building out hiring pipelines and attracting talent, leading effectively and strategic planning, and effective execution at a team level.
The first half was good, then it got repetitive toward the end.
- If you feel like you're the only/main person in the organization who's capable of getting things done to the level they need to be, then your organization is lacking on systems, structure, discipline, and accountability.
- Discipline is giving up your short term wants for your long term achievement and fulfillment.
- The Elite Execution System is composed of 4 quadrants: Strategy, People, Operations, and Acceleration.
- Strategy: not just about coming up with good ideas, but being discipline about selecting the ideas that will be the best for growth/success.
- People: need to attract, hire, develop and retain great people.
- Operations: accountable for the success of everyone on the team/how you go about executing on a goal.
- Acceleration: how to communicate via marketing and sales the value of your company/how your different, and delivering consistent growth
- Finally, he talks about “Delivering Wow”
The elite compass
- Define your core values
- Always write down your goals, they cant just be in your head.
- Write down vision, strategy, and direction
- Define your purpose - something impactful/a mission that people can align on, and your mission - something more concrete that you're trying to do
- Define your BHAG - it has to be something that everyone can relate to/contribute to. Then constantly refer to it in meetings, and measure progress of it. Then people feel like they're driving this metric.
- Figure out your secret weapon - what makes your company better/win no matter what happens
- Identify strengths and weaknesses of your organization
- Identify 10x opportunities, where if you executing on these, your growth could 10x in a year
- Identify your brand promises that customers expect/use your brand for
- What should customers think your organization the expert at?
- Identify key revenue/growth drivers. What are the bottlenecks can be removed from these drivers?
- Determine key metrics and numbers. Measure them. Assign accountability to one person for each.
Executing on your vision/defining periodic goals
- 7-year goal (long-term) goal, should be very high and something to constantly work toward
- 3-year goal (mid-term) goal, define with what your key metrics/BHAG/numbers will look like at this time, be specific so you have something to aim at
- 1-year goal (short-term) goal, define what you will do this year. One overarching/unifying theme to work toward. Define what you want to hit with key metrics
- For each area of Strategy, People, Operations, Acceleration, (Product) define your 5 key goals (SMART - Specific, Measurable, Achievable, Realistic, Timely). These should be stretch goals that are hard to achieve.
- Ask your self who could achieve these goals. Announce hiring for roles that you need - people won't be surprised. Internally, people can grow into these roles.
- 90-day goal (quarterly) goal
- Define the rocks/wildly important goals
- Define the key metrics/numbers to hit
- Define key meeting schedule
- Define core processes
- Plan out acceleration
- Write your core strategy statement - capture your near term strategy/key metrics, what you're going to do, etc. Should be ambitious and inspire people.
- Finally, you need to directly communicate this compass, goals, and strategy to your team.
- Successful teams understand where the company is going, feel an emotional attachment to these goals, and clearly understand where they fit in to help achieve them.
Building an elite team
- First, you need to define the right people for your company at the current time
- Define the role - write them as a superhero
- Define responsibilities: 8-16 per role
- Define expectations (outcomes)
- Define key numbers
- Attracting interest from talent involves requires writing a good job ad - good title, description, benefits, etc. think what the elite talent would be attracted by.
- Spending time on interviews is worth it. Author does recorded interviews and has a Google Drive for each prospect.
- Ask them if they are pursuing other opportunities, ask in detail
- Give the final offer face-to-face, and make it exciting. Show that you are excited to have them, and that this is an opportunity for them.
- Have an onboarding process, or people can be setup for failure
- You need to be genuinely invested in the growth/development of every employee. You need to care about their future, and show that they have a direct path to get to where they want to.