BOOK SUMMARY 350
Predictable
Results
in Unpredictable Times
in Unpredictable Times
·
Summary
written by: Justin Gasbarre
"This
small book is about getting predictable results in good times and bad—whether
you believe ‘this time is different’ or not."
-
Predictable Results in Unpredictable Times, page vi
Predictable Results
in Unpredictable Times: How to Win in Any Environment by Stephen R.
Covey, Bob Whitman and Breck England is a book about the principles that
organizations need today in order to withstand tough economic times, navigate
change, and get the results that they’re after despite all that’s working
against them!
Dr. Stephen R. Covey
is best known for authoring one of the top selling business books of all
time, The 7 Habits of Highly Effective
People. Bob Whitman is
the president and CEO of FranklinCovey, and Dr. Breck England is an executive
consultant working in the strategy planning and communication space.
Based on the authors research
and professional experience, the book outlines what “great” organizations do
consistently and with excellence regardless of what’s going on within their
business, their industry or the economy, to achieve the results that they are after.
These four principles are:
·
Excellent
Execution
·
High
Trust Levels with All Stakeholders
·
Achieving
More with Less
·
Transforming
Fear Into Engagement
Through real life
examples, and great metaphors and analogies, the authors paint a clear picture
of what leaders can do within their team or organization to produce results. At
the end of each chapter there is a set of tools that the reader can use to work
through these ideas specific to their situation, along with a “teach to learn”
section which will help the reader share these principles and ideas with others
in a clear, efficient way.
The Golden Egg
Does Everyone Know
What to Do?
"Does everyone
understand and buy in to the goal? Does every team member know his or her role?
Are they executing with precision?"- Predictable Results in Unpredictable
Times, page 3
Many companies today
have “organizational ADD”. What I mean by this is that every month or every
quarter a new initiative is launched, a new corporate strategy is rolled out,
or a new goal is put in place. As this continues over time, people begin
to think, “this too shall pass”. The authors put it like this: “Walk down the
halls. For every 100 people you pass, 15 might know what the organization’s top
priority is. Take those 15 aside, and you’ll find that only six of them know
what their role is in achieving that priority. Six out of 100 are not enough to
get you through the mountains.” In order to combat this, organizations need to
significantly narrow the focus to the critical few goals that have the biggest
impact on the organization.
The FranklinCovey
organization has conducted extensive research which shows that great performers
do four things that lesser performers don’t:
·
Focus
on the top goals
·
Make
sure everyone knows the specific job to be done to achieve these goals
·
Keep
score
·
Set
up a regular cycle of follow-through
These four simple
principles can help to eliminate complexity and help you and your organization
focus on the most important items within your business.
Gem #1
A Crisis of Trust
"Mistrust
doubles the cost of doing business."- Predictable Results in Unpredictable
Times, page 36
Trust is among the
most important leadership competencies required today. The authors suggest that
“Trust is not a soft issue at all—it’s the hard, bottom-line issue of speed and
cost. It can be measured and moved in the right direction.” In order to
successfully navigate change and get through difficult times, the need for
leaders and organizations to deliberately build a high-trust culture is
essential. The authors discuss trust in two lights—Trust Taxes and Trust
Dividends—which are defined below:
·
Trust Tax is a tax that is paid on relationships
that have low trust. When trust is low, the speed in which it takes to get
things done goes up and costs inherently go up.
·
Trust Dividends are dividends that are a result
of a high trust relationship. When trust is high, the speed in which it takes
to get things done goes down and costs go down.
In terms of working
in a team setting, and striving to execute on strategic priorities, trust is a
critical component of the successful competition on these initiatives.
Gem #2
Building Customer and
Employee Loyalty
"There’s a
difference between customer satisfaction and customer loyalty."-
Predictable Results in Unpredictable Times, page 60
When times are tough
and unpredictable, companies that succeed always focus on providing more of
what their customer’s value and will pay for. They simplify their offerings,
reduce any existing complexity and get very clear on how they can do better the
job that customers hire them to do. The authors cite a fascinating survey from
Bain which found the following:
·
96%
said their company was customer-focused.
·
80%
believed their company delivered a “superior customer experience.”
·
8%
of their customers agreed.
That data is
mind-blowing to me and shows a real disconnect between perceptions and reality!
The authors suggest, however, that the focus shouldn’t be on customer
satisfaction, it should be on customer loyalty. Loyal customers are the
customers that would miss you if you were to go out of business. By answering
the following questions, the authors help us think about how we can go about
building customer loyalty:
·
Who
are your team’s most important customers (internal and/or external)?
·
What
are these customers’ most important goals?
·
What
specific jobs are your customers hiring your team to do?
“So what about your
team?” ask the authors.
Predictable Results
in Unpredictable Times is a light, yet powerful read. Using real life case
studies and actionable tools, the authors prepare the reader for leading their
team or organization through the ups and downs that are prevalent in business
today.
“Are you poised to
get predictable results—no matter how unpredictable the times?”
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