The CEO role is the intersection of all contradictions.
Jacques Aschenbroich, CEO of Paris-based Valeo
If everything is under control, you’re going too slow.
Mario Andretti, Race Car Driver
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CEO Excellence Revisited
What is the Fortune 500 CEOs reading? Among a few books, McKinsey’s CEO Excellence is one of the biggest vote-getters. In an exhaustive study (which I trust McKinsey to do), they identified six crucial mindsets, which I’ll list below. They note “the best CEOs are excellent in a few areas and do a solid if not exemplary job in the others.” More importantly, it’s full of very practical ideas any executive can utilize. Please read or listen to it.
1 Great Replaces 3 Good
In our Scaling Up Compensation book (hope you’ve read it) we emphasize you’ll find for ALL roles at least a 3:1 ratio between a great vs. good employee. Same with CEOs. Notes McKinsey:
As CEO counselors, we know that how a person performs in the CEO role matters. CEOs who rank in the top 20 percent of financial performance generate, on average, 2.8 times more total return to shareholders (TRS) during each year of their tenure than do average performers.
Focus on attracting and retaining these A-Players – whom you can afford to pay up to twice as much if they measurably deliver 3x or more performance.
The Six Mindsets
Grab a Kindle version of CEO Excellence and go to the Table of Contents (TOC). You’ll see the book is organized by the six mindsets with 3 “practices” each – so 18 practices in total. Simply reading through these I found helpful – a sort of CEO Checklist! I’ll highlight a couple ideas:
- Direction-Setting Mindset – Make big moves early and act like an outsider when it comes to allocating assets.
- Organization Alignment Mindset – Find the one thing and solve for “stagility”. They also recommend NOT putting employees first.
- Mobilize Leaders Mindset – use operating rhythm to get into a groove and make the team the star.
- Board Engagement Mindset – tap the wisdom of elders and focus on the future. Aligns with our idea of choosing advisers that align with your 3 – 5 year Key Thrusts.
- Stakeholder Connection Mindset – focus on having a social purpose and stay elevated above the fray.
- Personal Effectiveness Mindset – to manage your time and energy, focus on sprints -- and remain humble while living your “to-be” list
What is “Stagility”?
McKinsey uses the example of architecture. Early skyscrapers didn’t budge, which proved to be fatal. New skyscrapers are designed to flex. The same with your strategy and organization, which we call being an “Agile Scaleup.” Maintain strong structural integrity (values, purpose, BHAG, brand promises) while providing flexibility in priorities. That’s why believing anyone can identify “attainable goals” and swim lanes violates both the idea of being bold early and maintaining flexibility.
Great Employee Experience
Tiffany Bova, whom we’ve hosted on our stages, also has a complimentary and excellent book titled The Experience Mindset released a few weeks ago. Endorsed by the who’s who, her HBR article details the 5 factors that make for a great employee experience. In summary:
- Mutual Trust – it’s a two-way street between the C-Suite and Employees
- C-Suite Accountability – are you listening to your employees? Only 31% of employees agree.
- Alignment of Values and Vision – has the C-Suite clearly articulated both
- Recognizing Success – “what you appreciate appreciates”
- Seamless Technology – focused on making the employees’ jobs easier
Please take 2 minutes to read the details. As several who have emailed me suggested, implementing the Rockefeller Habits checklist accomplishes all five of these. Always good to see these ideas reinforced.
C-Suite Leadership Model – Master 9 Skills Online Ex Ed
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Order a box of 20 Scaling Up and Mastering the Rockefeller Habits books
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EDUCATION:
Growth Institute Online Executive Education:
Master of Business Dynamics
Scaling Up Master Business Course
Exponential Organizations Master Business Course
Topgrading Master Business Course
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Planning to Exit – Critical Whitepaper
Selling your firm, for its maximum value, is the most important negotiation in which a business owner will participate. You are typically negotiating with sophisticated buyers who have done hundreds of acquisitions whereas this is often your first rodeo. And these buyers have a formula for ripping you off – and it works, stealing tens of millions from you. Seeking help, owners discover the big M&A firms, especially those specializing in your industry, are more beholden to the buyers than the sellers (they will tell you otherwise). Email me to get a whitepaper on how to maximize your valuation and avoid the psychological games buyers play [email protected].
SCALING UP WORKSHOPS:
Engage your team with interactive workshops to optimize your company’s performance.
(list of workshops below)
Denver, CO – Jul 17, 2023 (Virtual)
Bengaluru / Hyderabad, India – Jul 19, 2023 (Virtual)
Sydney, Australia – Jul 20, 2023 (In-Person)
Boulder, CO – Aug 1, 2023 (Virtual)
Toronto, Canada – Aug 10, 2023 (Virtual)
Sydney, Australia – Aug 11, 2023 (In-Person)
Denver/Englewood, CO – Aug 24, 2023 (In-Person)
Melbourne, Australia - Sep 5, 2023 (In-Person)
Grand Rapids, MI – Sep 12, 2023 (In-Person)
Toronto, Canada – Sep 14, 2023 (Virtual)
Brisbane, Australia – Oct 4, 2023 (In-Person)
Toronto, Canada - Oct 12, 2023 (Virtual)
Sydney, Australia – Nov 2, 2023 (In-Person)
Toronto, Canada - Nov 9, 2023 (Virtual)
Grand Rapids, MI – Nov 9, 2023 (In-Person)
Melbourne, Australia - Nov 14, 2023 (In-Person)
Dallas, TX – Dec 6, 2023 (In-Person)
Toronto, Canada - Dec 7, 2023 (Virtual)
Better Book Club –
What's your team reading? Increase your books read per team member. Easy, Proven, and in the Cloud at http://www.BetterBookClub.com.
TECHNOLOGY:
Scaling Up Scoreboard Integrated with Salesforce, Slack, and Zapier (allowing it to connect with 1000s of systems), use Scoreboard to provide your team (working remotely even more important!) a real-time visual dashboard of cascading priorities and metrics. Get a personalized tour of Scaling Up Scoreboard to see how you can use it to better implement Scaling Up in your business.
COACHING: 
Does it feel as if your business has hit a wall? If you don't see a clear path forward, it's a good time to bring in a coach. All of our Scaling Up Certified Coaches™ are masters at guiding you and your leadership team through the implementation of the Scaling Up Performance. Our promise is a custom diagnostic approach from Day 1, including how we match you with a coach. We even have a team member dedicated to helping you find the perfect Scaling Up Certified Coach.™ Schedule a complimentary, personal follow-up. Or check out our FAQs. Additional questions can be sent to [email protected]
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