With over 70 moves available for leaders to improve performance, many hyper growth companies struggle to decide where to focus their efforts. Anyone that has ever led or worked for a company that is consistently growing over 20% per year knows that it is all about execution – making the right choices at the right time.
This is easier said than done. IBM found that less than 10% of well-formulated strategies are effectively executed.
Similarly, we have found that the majority of high growth leaders think that their strategy is 50% more clear, believable and implementable than their direct reports. This misconception by leaders often creates just enough ambiguity, chaos and frustration to miss the wonderful market opportunities unique to fast growing companies.
For example, one recent client was growing at 30%+ per year, went public and created 8 strategic pillars and 52 strategic priorities to meet their targets. The leadership team, comprised of ex McKinsey, Bain, Accenture, Oracle, and Goldman Sachs executes was frustrated that the level of execution was not where they wanted it to be. Their attrition levels of top talent started to climb.
This anecdote is a great example of red flag #1 – Too many priorities. Read more about other strategic clarity red flags in Selling Power Magazine.
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