9. Execution Is The Key

You're listening to the blueprint, pinpointand monetize your genius, Himalayan learning audio course. Be sure to check outall of the other exclusive courses in the Himalaya app or on himalaya.com.Welcome to episode nine of the blueprint, pinpoint and monetize your genius.I'm your host and course creator Jay Jones.

[00:00:26] And today we're going to discussexecution. Remember the only three things an entrepreneur does is think, createan execute. Thinking is easy. Creating is a little harder and the execution isthe hardest. So we've already gone through the first two phases, the thinkingphase and the creating phase. When you created your first product or service,now we're going to focus on the execution, but first let's make sure we're upto date with all of our assignments.

[00:00:58] So after each episode, you'vehad assignments and PDFs to complete. Now, remember each episode is layered ina specific order on purpose to give you maximum value and understanding as youmove toward the next episode. Now let's get into today's episode. It goeswithout saying that the first step needed to successfully execute a strategy isthe planning process.

[00:01:23] Now every year millions ofentrepreneurs come up with great ideas. And every year they spend countlesshours creating and recreating detailed business and strategic plans. Butunfortunately, most of these efforts go to waste as entrepreneurs fail tofollow through on their own well-thought-out plans.

[00:01:41] And that's what we want tomitigate in this episode. So let's first start off by giving you the definitionof execution. Execution is the carrying out or putting into effect of a planorder or course of action. Once again, it's the carrying out of putting intoeffect of a plan order, or course of action.

[00:02:05] Now let's review my nine keysteps to ensure winning execution in any business. Now, not all of these stepsmay be applicable to you based on the size of your business or the size of yourorganization. So, if you're a solo preneur, you won't have employees that youhave to communicate with, but these are the key elements and key steps that youneed to follow to make sure that you execute in your business.

[00:02:31] Step number one, create a visionand instill values, create a vision and instill values. The vision may be yoursalone, but the communication has to include your team, potential investors andyour customers. For most people, the communication is the hard part and thecommunication needs to be either written verbal and it needs to be repeatedover and over again.

[00:02:57] So you need to create a visionand instill values. So your company and your customers understand what you'reabout. Step number two, you want to define a focused strategy, define a focusedstrategy. That means limiting the focus to a few critical areas that will yieldthe highest possible return. If your strategy has more than 10 elements, it'snot focused, not everything can be a priority.

[00:03:25] So you don't want to spend timeon any unimportant goals. Step two, define a focus strategy, limit the focus toa few critical areas that will yield the highest possible return. If yourstrategy has more than 10 elements, it's not focused. Not everything can be apriority, so you don't want to spend too much time on unimportant goals.

[00:03:48] That's step number two, now,step number three, get team commitment. Remember not every one of these stepswill be applicable to you when you're starting out. If you don't have a team,but step number three is get team commitment. People who are not committed cannot be held accountable for delivering ambitious results.

[00:04:09] The guiding coalition wasdemonstrate a hundred percent unity or there will be a mutiny in the worst caseis a silent mutiny. So step number three, get team commitment. People who arenot committed can not be held accountable for delivering ambitious results. Theguiding coalition must demonstrate 100% unity or there will be a mutiny.

[00:04:32] The worst case is a silent mutiny.Everybody needs to be on the same page. Everything needs to be communicated toall of your employees or all of your staff. So they understand what thecommitment is. Let's move to step number four, which is goal setting. Okayguys. So you've got a plan. The next step is to start creating tangible goals.

[00:04:57] It seems obvious, but manyorganizations create a plan. They communicated and almost expect the rest tohappen by magic creating goals with and for your people will help bringstructure around your execution of the plan. It will also flush out any areasthat may have been overlooked. Step four is goal setting.

[00:05:18] So remember you have to havegoals in order to move your execution along. And many organizations create theplan and communicate it, and they expect the rest to happen by magic. So youneed to set goals. Now they need to be tangible goals and the goals need to beowned by individuals that will actually move your plan towards fruition.

[00:05:42] Step number five, every process needsa system. You need to define and use well thought out systems, either manual orautomated to ensure repeatable success of every key process. The most basicelement of every startup system is a written agreed and measurable businessplan. Let me repeat that. Every process needs a system.

[00:06:06] Define and use well thought outsystems, either manual or automated to ensure repeatable success of every keyprocess. The most basic element of every startup system is a written agreed andmeasurable business plan. Step number six is managing priorities. So you mustcommunicate to all of your employees or constituents the current priorities andkeep the total to a manageable number.

[00:06:35] One of the biggest mistakes Isee in startups is a new and largest set of priorities every week causing theteam to lose momentum and lose commitment. Step six, manage priorities, andmake sure you communicate those priorities and keep the total number ofpriorities to a manageable number. You don't want to overload yourself or yourteam.

[00:07:01] Step number seven, provide teamsupport and training. Remember people are your most valuable assets. So startwith the right ones and make sure they have the tools and training to deliverthe results that you're asking for. Don't assume that they know everything, youknow, or learn as fast as you do. This is a key provide team support andtraining people are your most valuable assets.

[00:07:24] So start with the right ones.And make sure they have the tools and training to deliver the results that youare asking for. Don't assume that they know everything, you know, where theylearn as fast as you do. Step number eight, assign and orchestrate actions.Leaders was made. Sure all team members are taking the right actions and behaviorson a daily basis to deliver the longterm performance.

[00:07:50] Even after all of the previoussteps, great leaders can't afford to be merely observers lead by action. Sostep eight is assign and orchestrate actions. Leaders must make sure all teammembers are taking the right actions on a daily basis to deliver the longtermperformance results. Even after all the previous steps, great leaders can'tafford to be merely observers.

[00:08:15] They must lead by action. Stepnumber nine is tracking and reporting. There are really two key components toeffective tracking and reporting. First, you need to ensure that everyone inyour organization is regularly updating the process of their own goals. Now,this doesn't have to be anything arduous.

[00:08:37] It could be as simple as givingweekly updates. Now the updates should include a quantitative measure ofprogress against the goal. As well as a short line or two of communication toadd flavor and give a rounded picture of the process goal should never be seenas static. It's a given that sometimes you'll need to edit the deadline of agoal or even rewrite it entirely as your organization evolves.

[00:09:03] So remember, effective trackinglays the groundwork for effective reporting, effective tracking, lays thegroundwork for effective reporting. So step number nine is tracking andreporting. I know this may sound like a daunting task when it comes to creatingyour execution plan, but I'm going to give you a concept that's going to helpyou create the plan in a much simpler fashion.

[00:09:28] In what we want to talk aboutnow is to how to prioritize your tasks. So with the execution plan, You need tocreate specific tasks and you only have three types of tasks, critical tasks,primary, and secondary tasks. Let's define what they are. And then we'll reviewthe task. Worksheet. Critical tasks are defined as tasks that must be donebefore you can move along in your process.

[00:09:57] So these must be done before youcan move along in your process. Primary tasks are defined as tasks that mustget done, but do not affect your forward progress at the time. So are tasksthat must get done, but do not affect your forward progress. At the time,secondary tasks are defined as tasks that can be done later, and that do notaffect your progress at this time.

[00:10:23] So now let's pull out the PDFworksheet your task worksheet, and let's review that. Let's take a look at yourtask worksheet. So the task worksheet is designed to help you identify andcomplete your next task in your execution phase of your planning. So each taskmust be identified as either a critical primary or secondary task note that youcan create as many tasks boxes as needed.

[00:10:53] So now we're going to look atwhat a task box is and how to complete these individual boxes. So the firstline is for your task. What do you need to do in terms of your execution plan?What do you need to do right below? That is what is the smallest step, thefirst step to accomplish this goal? So for example, if you're going to writeyour execution plan, what is the smallest or first step to accomplish thatgoal?

[00:11:25] And that first step could be towrite an outline. In the next box below that, what type of task is this? Is itcritical primary or secondary? So you need to identify what type of task it is.Once again, critical tasks are defined as tasks that must be done before youcan move along in your process.

[00:11:45] Primary tasks are divided tasksthat must get done, but do not affect your forward progress at the time. Andsecondary tasks are tasks that can be done later and do not affect yourprogress at that time. So you have to determine just circle one criticalprimary or secondary in the next box. What resources do you need to accomplishthis goal?

[00:12:09] You have to have the resourcesto accomplish the goals. So, for example, if you're trying to do an outline,what resources do you need for your execution outline below that? Who do youneed to help you to accomplish this goal now? Is it something that you canaccomplish on your own that you've been assigned to?

[00:12:30] Or are you going to assign thisto one of your team members or outsource it? Who do you need to help youaccomplish this goal that needs to be identified? How much does it cost to accomplishthis goal? So, if you need to outsource a task to an independent contractor,how much is that going to cost you?

[00:12:49] If you're paying an employee,what does that cost you next? When do you need this task completed? Everythingneeds a date. So this pushes your whole execution plan along. What is the datethat this needs to be done? And then the final box it says date completed. Sowhatever date that's completed. Then you need to write that down and thisprocess helps move you along.

[00:13:16] Now, you can use this obviouslyfor your execution, or you can use it for anything in terms of your business.So you want to identify the task and track it as it moves forward. So we'vereached the end of episode number nine and your action steps are to completeyour task worksheet. Now remember create as many tasks boxes as you need.

[00:13:40] To create your execution plannext week, we're going to discuss living in your genius. What you just heardwas the blueprint pinpoint and monetize your genius, the Himalaya learningaudio course. Be sure to check out all the other exclusive courses in theHimalaya app or on himalaya.com.