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Show Notes

DOWNLOAD. LISTEN. ENGAGE.

FEEDBACK, THE BREAKFAST OF CHAMPIONS - WILLIAM EASTMAN

1/12/2020

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Introduction
One theme consistent in Season 3 is the station's becoming your CGO - Chief Growth Officer for Hire, the underlying role of the Network. All of my shows: Growth Community, Building in Front of You, Your MLM Empire, Economics for Owners, the Self Managing Organization, and Creating a Consulting Business - everything centers on how to use the IBGR Network for business success. 

​Our relationship with the listening audience of entrepreneurs and owners: 
  • Provide INSIGHTS that are useful
  • Provide TOOLS that work
  • Provide RESOURCES that saves time and money
  • Make a FINANCIAL impact on the business 

That is what is meant by Looking at IBGR as your CGO - your virtual Chief Growth Officer.

Last week we tackled Line of Sight. It was to move from a strategic to a tactical conversation - how we get there. This week continues that conversation - what are the mechanics to gain clarity on this periods objectives, use feedback to drive performance, get everybody involved in the tracking progress, and make it a good deal for all involved. 


LISTEN > ENGAGE > APPLY

Objectives - The WHY
If you can't tell, I am excited about the possibility of creating a Self Managing Organization. Imagine having a very successful business that requires minimal but critical participation from you? I can!

Today's show covers the topic of forced conversations - the essence of any feedback and accountability system. Most organizations focus on the structural issues like designing a form or how to collect information from a performance management system and not on the real issue - how frequent and honest are our communications on performance?

Key Issues - Owner Perspective:
  1. How do I obtain the essence of managing performance - frequent and honest conversations about performance that leads to improvement?

What You Need to Know - The WHAT​
  • What is Performance Management?
    • Definition: the formal process of setting expectations, tracking performance, and providing feedback. At its most basic, it forces leaders and employees to talk about performance, which during normal operations happens infrequently. Most effective performance management process has 3 parts: setting of expectations, measuring performance, and providing feedback on the following elements - corporate values, yearly business goals, and day-today performance in an assigned role.
  • How do I capture the essence of it and build a simple system?
    • Although on occasion this is feedback delivered by an immediate supervisor, to make it work feedback on performance (progress and/or results) needs to be delivered by the system plus posted visually by the people owning the data. Consider the 80/20 rule as a great place to start.

What You Need to Do​​ - The HOW
  1. Business Objectives
    1. Based on the company's growth stage - PERFORMANCE PLAN, PROFIT PLAN or RENEWAL PLAN?
    2. Update Position Descriptions with Business Objectives for the period
  2. Incorporate on Intranet
    1. Internal network - ERP/ERM
    2. Daily/Weekly updates
  3. Alignment Meeting
    1. At the beginning of period (quarter) - agreement and/or clarity on performance expectations.
    2. Agreement and/or clarity on visual display of performance data.
  4. Calibration Meetings
    1. At predetermined periods (minimum 1 per month), discuss performance and suggestions for improvement - both management and employee.
  5. Results Meeting.
    1. At end of period discussion on results and conclusions on performance; used for recognition, rewards, and compensation
    2. Becomes next period Alignment Meeting and the cycle repeats.

We are your single, one stop source for business success, period, end of story.
  1. ​Listen to the Self Managing Organization Series 
  2. JOIN the Community of Commerce - A Network of Entrepreneurs for Entrepreneurs
  3. Show Up Next week

Make sure you leave some thoughts in the comment section below. I am interested in continuing the conversation.

SMO.05.3G

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      • BUSINESS PODCASTING MADE EASY
      • ECONOMIC NEWS >
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      • EXIT STRATEGIES >
        • An Epic Business Exit
        • Catalytic Conversation$
        • Exitology
        • The CFO Perspective
        • The Entrepreneur's Edge
        • The Smart & Savvy Business Exit
      • FINANCE >
        • Business Econ for a Post Pandemic World
        • Economics For Owners
        • Employee Capitalism
        • Money Matters
        • Practical Solutions to Difficult Problems
        • TurboCharge Your Business
        • Your Money Machine
      • HR / PEOPLE SKILLS >
        • Business and Beyond
        • Business Processes & People Talk
        • Equipping Others
        • Staff It!
        • Success Can Be Fun - With Focus!
        • The People Side of Business
        • Women of Business Thriving
      • INTERVIEWS >
        • Get You Noticed!
        • The Referral Guy Interviews Your
        • The Magnetic Voice
      • LEADERSHIP >
        • Compassionate Leaders of Influence
        • Destiny Road
        • Engaging Your People For Success
        • Leadershift with Col Ajai Lal
        • Leadership Powered by Common Sense
        • Influencing for Global Impact
        • Talk Leadership with Cedrick on the Radio
        • Your Corporate Confidante
      • MARKETING >
        • Building A Multilevel Marketing Empire
        • Level-Up Your Marketing
        • No Nonsense Market Domination
        • Buying Customers
        • #Seriously Social
        • Results Oriented Marketing
      • MINDSET >
        • Building Success Habits
        • Building You to Build Your Business
        • Entrepreneurial Mindset
        • Peak Impact Mentorship
        • Guidance To Wealth
        • The Hero Within
      • OPERATIONS >
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        • Building In Front of You
        • Building In Front of Your 2
        • Lead Lean
        • Pencils & Pistons
        • Planning Out Loud
        • Processes Under Control
        • The Ralph Peterson Radio Show
      • SALES >
        • Beyond The Method Selling
        • Inside The Customer
        • Sell It!
        • Serving Up Sales
      • STARTUPS >
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        • A New Business Model For Startups
        • Adulting In My Purpose Business Edition
        • Building Startup Operations
        • Creating A Consulting (Improvement) Business
        • How To Start A Consulting Firm
        • Survival Mode
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        • Z Gen Entrepreneurship
      • STRATEGY >
        • #OwnrLife
        • Better Your 4 U
        • Build Your Core for Dynamic Partnerships
        • Grow It!
        • How to Avoid Becoming the 80%
        • How To Become the Top 5%
        • How to Move Beyond the 15%
        • Living the Life .. On YOUR Terms
        • Own It!
        • ReImagine Your Business
        • The Business Owner's Bookshelf
        • The Self Managing Organization
        • Tenacious Top of Mind Business Insights
    • MEET THE HOSTS >
      • Ben Gioia ("joya")
      • Bert Robinson
      • Chris Mayfield
      • Crystal Y. Davis
      • Donna Kunde
      • Doug Thorpe
      • Ellen McIlhenny
      • Glenda Thompson
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      • Jeremy Gray
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