The CEO Checklist: How Savvy Entrepreneurs Excel. Presented by Rich Russakoff for EO Raleigh-Durham Chapter

Transcription

1 The CEO Checklist: How Savvy Entrepreneurs Excel Presented by Rich Russakoff for EO Raleigh-Durham Chapter

2 Thank you to our generous sponsors!

3 My mission and greatest successes come from leading others to think more boldly, confidently, and courageously resulting in clarity, wisdom, better decisions, and paths that are sometimes life changing -- and always more fulfilling. - Rich Russakoff

4 Coach To The Best Millionaire Blueprints Magazine Matt Zemon Randy Nelson

5 Speaker, Business Broker & Entrepreneur

6 Writer

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9 Andrew Grove s Question $198M profits 1984 Less than $2M 1985

10 Andrew Grove s Question Chips to processors $4 $197b

11 9 Crucial, Constant, Continuing Tasks of the CEO 1. VISION 2. Leadership 3. Empowerment 4. Relationships 5. Feedback 6. Entrepreneurship 7. Fiscal Management 8. Personal Style 9. Oversee Execution

12 Strengths Upper Limits Problem Relationship Building Values I alone Vital Measures Opportunities Results 12

13 Playing to Your Strengths Zone of Incompetence Zone of Competence Zone of Excellence Zone of Genius

14 Do not let what you cannot do interfere with what you can do. - John Wooden (Hall of Fame basketball coach)

15 THE UPPER LIMITS PROBLEM Don t be afraid to give up the good to go for the great. - John D. Rockefeller 15

16 The 4 Fears 1. Of outshining others (or, The Crime of Outshining) 3. Of leaving others behind (or Disloyalty and Abandonment) 2. Of being a burden on others (or Believing that More Success Brings a Bigger Burden) 4. That I have fundamental flaws and don t deserve this (or Feeling Fundamentally Flawed)

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18 Coach To The Best Millionaire Blueprints Magazine Brett Hatton David Galbenski Damon Gersh Dozens of Winners / Graduates of:

19 Relationship Building

20 Psychic Income! A Sense of Belonging We are all in this together! Recognition Pride - Victor! Emotional Security - Rob/yellow! Economic Security! Training

21 Psychic Income! Feedback Where do I stand! Knowing What is Going On! Their Ideas Encouraged and Welcomed

22 Great Leaders Master How to: Hire Train Require Communicate Inspire Fire

23 Hidden Costs of Employee Turnover! Recruiting! Interviewing! Testing! Training! Lost knowledge! Ramp up time! Finding the right fit

24 Not everyone can be a thought leader, but every leader can be a thoughtful leader.

25 The CPR Approach Hold People Accountable Context Pattern Relationship From Crucial Conversations

26 Possible Action Items! Critically assess your staff s skills and attitudes! Be prepared to let people go who are holding your company back! Start a database for potential future hires and stay connected with them

27 VALUES

28 Core Values! This is how WE do business! This is OUR culture! When your values are clear, your decisions are easy

29 Maxons Core Values Maxons is a unique organization doing extraordinary things under difficult circumstances! Be a Positive Force! Proactive Attitude

30 Maxons Core Values! Focus on the Solution We know our Mission! Strong Sense of Urgency Maxons to the Rescue! Accountability for Actions/Results No Blame Games

31 Maxons Core Values! Unselfish Team Orientation We re all in it together! Professionalism and Integrity Our word is out bond! Exceed Expectations We make a difference

32 A Four Hands Core Value THE Industry Leader

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35 4 35

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38 7 38

39 8 39

40 9 40

41 10 41

42 I Alone

43 You Are In Control Of Your Company s Destiny

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45 Full Engagement Full engagement requires drawing on four separate but related sources of energy:! Physical! Emotional! Mental! Spiritual

46 DRAMA TRIANGLE

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48 The Dynamics of Energy High Negative Angry Fearful Anxious Defensive Resentful Low Negative Depressed Exhausted Burned out Hopeless Defeated High Positive Invigorated Confident Challenged Joyful Connected Low Positive Relaxed Mellow Peaceful Tranquil Serene

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50 You can do anything you want But You can t do everything. Entrepreneur s Self Portrait

51 Leaders get the behaviors they exhibit and tolerate.

52 Leadership Wherever you are, be there. Our priorities are determined by our actions.

53 Vital Measures

54 Was Ben Franklin right or wrong? 54

55 Carelessness and Mistakes are Expensive With 10% bottom line profit: $100 misspent Requires $1000 in additional revenue JUST to pay for the mistake

56 Conquer the Fear of Financials! Demand Transparency! Recognize the Power of Small Changes! Create a Culture of Profitability

57 Uncontrolled Growth is as Cancerous in a business as it is in a body.

58 When you control your money, you control your FUTURE.

59 How do you determine if you made money? A. Income Statement (P&L) B. Balance Sheet C. Bank Statement D. Ouija Board

60 Identifying Value Drivers

61 Identifying Value Drivers

62 Profit Centers become blended.

63 What is the Real Cost of Mistakes? If you are running at 96% reliability, the 4% of mistakes will eat 54% of your time and effort.

64 What is the Real Cost of Mistakes? If you increase reliability to 99%, the 1% can still eat 25% of your time and effort.

65 RESULTS

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67 The Four Critical Steps of Execution: Delegation is a two step Process! WHO: Involve Clearly Establish the mission! HOW: Ask the Questions! WHEN: Establish Milestones! Have a Contingency Plan or Plan B

68 The 2 Most Valuable Management Principles: 1. What gets measured gets done 2. You get more of the behaviors you reward

69 Importance of Follow Through The failure to follow through is a major cause of poor execution. If no one is named accountable for results, it often does not get done. If more than one person is responsible than no one is accountable.

70 Don t Fix the Past - Create the Future

71 The 5 Ps Proper Preparation Prevents Poor Performance 71

72 If we don t focus, it will fucus. - Rich Russakoff

73 80% of success is getting stuff done. - Tom Friedman

74 FACE THE DANGER 74

75 FOR COPIES OF THIS PRESENTATION or for a special FREE Kindle download: Please share your business card with myself or my Bride, Mrs. Russakoff.

76 12 Time Management Principles & Values 1. You can do anything you want, but you can t do everything you want 2. Wherever you are, be there Gandhi 3. There is never a time you can t begin 4. WIN

77 12 Time Management Principles & Values 5. The 5 Ps 6. Don t get caught up in the thick of thin stuff 7. Focus on completing important items rather than trying to stay caught up each day 8. Do one thing at a time

78 12 Time Management Principles & Values 9. Allocate time for the unexpected 10. If you are running at 96% reliability, 4% mistakes will eat 54% of your time 11. If you increase reliability to 99%, the 1% can still eat 25% of your time 12. Be a Blockhead

79 Five Levels of Leadership Level 5 Level 4 Level 3 Level 2 Level 1 Level 5 Executive Builds enduring greatness through a paradoxical blend of personal humility and professional will Effective Leader Catalyzes commitment to a vigorous pursuit of a clear and compelling vision, stimulations higher performance standards Competent Manager Organizes people and resources toward the effective and efficient pursuit of pre-determined objectives Contributing Team Member Contributes individual capabilities to the achievement of group objectives and work effectively with others in a group setting Highly Capable Individual Makes productive contributions through talent, knowledge, skills and good work habits